United States News

Canada, Mexico, US Agree Free Trade Deal Amendments

by Mike Godfrey, Tax-News.com, Washington

Last updated 2 hours ago | Monday, December 16, 2019

Canada, Mexico, and the US have signed an agreement on amendments to their proposed new trade pact. Read Full Story

IRS Issues Final Foreign Tax Credit Regulations

by Mike Godfrey, Tax-News.com Washington

Friday, December 6, 2019

On December 2, 2019, the United States Internal Revenue Service issued final regulations on the foreign tax credit following major changes to the US tax code. Read Full Story

US Considers Retaliation Against French Digital Services Tax

by Mike Godfrey, Tax-News.com Washington

Friday, December 6, 2019

The United States may impose additional duties of up to 100 percent on certain French products in retaliation for France's digital services tax, which a newly published report by the US Trade Representative has concluded discriminates against certain US companies. Read Full Story

IRS Issues Estate Tax Regulations

by Mike Godfrey, Tax-News.com Washington

Monday, December 2, 2019

On November 22, 2019, the United States Internal Revenue Service issued final regulations confirming that individuals taking advantage of the increased gift and estate tax exclusion amounts in effect from 2018 to 2025 will not be adversely impacted after 2025 when the exclusion amount is scheduled to drop to pre-2018 levels. Read Full Story

Costa Rica Ratifies Updated TIEA With US

by Mike Godfrey, Tax-News.com Washington

Monday, November 25, 2019

On November 12, 2019, a law was published in the official gazette of Costa Rica which ratifies the updated Tax Information Exchange Agreement with the United States. Read Full Story

American Firms Concerned By Canadian Digital Tax Plan

by Mike Godfrey, Tax-News.com, Washington

Monday, November 25, 2019

Representatives from US trade and industry associations have voiced concern about a digital services tax proposal floated during the recent Canadian election which they argue will "impose discriminatory requirements on the digital economy." Read Full Story

New Zealand Tops World Bank's 'Doing Business' 2020

by Mary Swire, Tax-News.com, Hong Kong

Friday, November 8, 2019

New Zealand is the easiest place in the world to do business, according to the World Bank's new Doing Business 2020 report, which looks at the simplicity of setting up, operating, and paying taxes in 190 territories around the world. Read Full Story

Warren Announces US Corporate Tax And Wealth Tax Plans

by Mike Godfrey, Tax-News.com Washington

Friday, November 8, 2019

On November 1, 2019, the presidential campaign of United States Senator Elizabeth Warren (D-MA) published plans for a system of universal Medicare that will be partially funded by tax increases on large corporations and wealthy individuals, as well as by stricter anti-tax avoidance rules. Read Full Story

IRS Expands Virtual Currency Tax Guidance

by Mike Godfrey, Tax-News.com Washington

Friday, October 11, 2019

On October 9, 2019, the United States Internal Revenue Service issued two new pieces of guidance for taxpayers who engage in transactions involving virtual currency. Read Full Story

IRS Grants Relief For US Persons Affected By Section 958 Repeal

by Ulrika Lomas, Tax-News.com, Brussels

Friday, October 4, 2019

On October 1, 2019, the United States Treasury Department and the Internal Revenue Service announced a relief for certain US persons that own stock in certain foreign corporations. Read Full Story

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