US Transition Tax Guidance Available

by Mike Godfrey, Tax-News.com, Washington

Friday, October 12, 2018

On October 10, 2018, the United States Treasury Department and the Internal Revenue Service published a Notice of Proposed Rulemaking in the Federal Register notifying taxpayers of the availability of additional guidance regarding the transition tax under Section 965. Read Full Story

US Urged To Trim Tax Form W-4

by Mike Godfrey, Tax-News.com, Washington

Monday, July 16, 2018

The American Institute of CPAs has urged the Internal Revenue Service and the US Treasury Department to simplify the draft 2019 Form W-4, Employee's Withholding Allowance Certificate, and the accompanying instructions, to reduce administrative burdens on taxpayers. Read Full Story

IMF Urges US To Hike Indirect Taxes

by Mike Godfrey, Tax-News.com, Washington

Friday, July 6, 2018

The International Monetary Fund has recommended that the United States raise indirect taxes to boost revenues, to offset the cost of recent tax cuts and spending increases. Read Full Story

IRS Announces Plans To Simplify Personal Income Tax Return

by Mike Godfrey, Tax-News.com, Washington

Monday, July 9, 2018

The US Internal Revenue Service has announced plans to streamline the personal income tax return for the 2019 tax filing season, to reflect changes brought about by the Tax Cuts and Jobs Act. Read Full Story

Wolters Kluwer Tax Expert Weighs In On Landmark Wayfair Ruling

by Mike Godfrey, Tax-News.com, Washington

Friday, June 29, 2018

The decision by the US Supreme Court to drop the physical presence requirement for states to impose sales tax will have an "incredible impact" on states' tax regimes and revenues, according to Mark Friedlich, Senior Director of Tax and Accounting, North America, Wolters Kluwer. Read Full Story

US Supreme Court Permits States To Tax Remote Sales

by Mike Godfrey, Tax-News.com, Washington

Tuesday, June 26, 2018

In a landmark decision on June 21, the Supreme Court of the United States overturned existing case law by ruling that a state can collect sales tax on remote sales even when the vendor does not have a physical presence in the state. Read Full Story

Mauritius's FATCA Filing Deadline July 31

by Mike Godfrey, Tax-News.com, Washington

Thursday, June 14, 2018

The Mauritius Revenue Authority on June 11, 2018, warned those financial institutions required to report information on the accounts of US persons under the US Financial Account Tax Compliance Act that declarations are required by July 31, 2018. Read Full Story

DeFazio Tables US Anti-Profit Shifting Bill

by Mike Godfrey, Tax-News.com, Washington

Thursday, June 14, 2018

US congressman Peter DeFazio (D-OR) has introduced legislation designed to amend the Tax Cuts and Jobs Act so that incentives for US corporations to shift income and production overseas are reduced. Read Full Story

TCJA Encourages Firms To Shift Profits Offshore, Says ITEP

by Mike Godfrey, Tax-News.com, Washington

Tuesday, June 12, 2018

Aspects of the tax reform legislation in the United States continue to provide an incentive for companies to shift profits offshore by providing more favorable tax treatment to foreign income than domestic profits, the Institute on Taxation and Economic Policy has said. Read Full Story

Canada Told To Sharpen Corporate Tax Competitiveness

by Mike Godfrey, Tax-News.com, Washington

Tuesday, June 12, 2018

The IMF has said that the recent changes to the US tax system could make Canada a less attractive destination for investment. Read Full Story

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