The Organisation for Economic Co-operation and Development (OECD) issued proposals to address corporate international tax avoidance and harmonize global tax rules.
The IRS announced that the United States has entered into agreements with Australia and the United Kingdom implementing procedures to automatically exchange financial account information pursuant to the Foreign Account Tax Compliance Act (FATCA).
The IRS has expanded the list of tax professionals who can be relied on when making a good-faith determination of a foreign grantee’s eligibility.
The final rules apply a concept called a potential F reorganization, allowing the many steps of a corporate reorganization to be examined together to see if the transaction qualifies to be an F reorganization.
The IRS issued regulations under Sec. 871(m) that govern withholding on dividend equivalents received by nonresident individuals and foreign corporations from sources within the United States.
The IRS issued per-diem rates for use in substantiating business expenses taxpayers incur while traveling away from home.
Charities will be allowed to file information returns instead of providing contemporaneous written acknowledgment of charitable donations under proposed regulations issued by the IRS.
The proposed grant of authority to the IRS to regulate all aspects of tax practice is overly broad, the AICPA said in a letter to the Senate Finance Committee.
Taxpayers will be required to consistently value transfer-pricing transactions for purposes of all Code sections under rules issued by the IRS.
Taxpayers who receive gifts or bequests from certain individuals who gave up their U.S. citizenship or residency will be subject to tax under rules proposed by the IRS on Wednesday.
Rules issued by the IRS govern the determination of minimum funding requirements for single-employer pension plans and how to calculate the excise tax on underfunding these plans.
Final regulations issued on Friday clarify the tax treatment of certain terminations of qualified hedging transactions under Sec. 988.
The IRS issued temporary and proposed regulations governing the treatment of property held by a controlled foreign corporation in connection with certain transactions involving partnerships.
The IRS added a requirement that employer-sponsored health plan benefits must include substantial coverage of inpatient hospital and physician services for the plan to count as providing minimum value.
IRS Proposes Rule Updates and Clarifications to Penalty for Nondisclosure of Reportable Transactions
The IRS issued proposed regulations that would update and clarify the rules regarding the penalty for failure to disclose reportable transaction information.
The IRS has proposed removing the benefits-and-burdens-of-ownership rule for determining which party to a contract manufacturing agreement should get the Sec. 199 domestic production activities deduction.
The IRS issued proposed regulations that, for purposes of establishing bona fide residency in a U.S. territory, would allow individuals additional days of “constructive presence” in the territories if certain conditions are met.
The new rules govern the Sec. 199 deduction when two taxpayers employ the same employees.
The IRS issued guidance delaying the due date for compliance with the recently enacted rules that require consistent basis reporting between an estate and anyone acquiring property from the estate.
The IRS alerted the public that an additional 220,000 taxpayers had their tax return information compromised in the Get Transcript database breach it announced in May.