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Daily News

Below please find daily updates pertaining to the latest in financial, business, and tax news:

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Tax-News.com: IRS Loses FBAR Non-Compliance Case

Thu, Jan 18, 2018

In its first case of 2018, the US Tax Court ruled in favor of the taxpayer in a case concerning the statute of limitations and non-compliance with the FBAR requirements....

Tax-News.com: US Supreme Court To Revisit Quill E-Commerce Sales Tax Ruling

Wed, Jan 17, 2018

The US Supreme Court has accepted a challenge from authorities in South Dakota to the court's earlier ruling in Quill Corp. v. North Dakota, concerning the ability of states to tax retailers not present within their physical borders....

Tax-News.com: US Manufacturers Welcome Miscellaneous Tariff Bill

Wed, Jan 17, 2018

US manufacturers have praised the House passage of the bipartisan Miscellaneous Tariff Bill, which if approved by Congress will provide temporary tariff relief on a wide range of products otherwise unavailable in the US....

Tax-News.com: IRS To Begin Using New 'Passport Confiscation' Powers

Wed, Jan 17, 2018

The Internal Revenue Service has warned "seriously delinquent" taxpayers that they risk losing their passports if they fail to regularize their tax affairs....

Tax-News.com: US Steel Industry Hopeful Of New Steel Import Duties

Wed, Jan 17, 2018

US manufacturers are optimistic that President Trump could impose new tariffs on steel and aluminum imports within the next three months, following the conclusion of a long-running Commerce investigation last week. ...

Tax-News.com: US Ambassador Talks Up Possible US-India Free Trade Deal

Mon, Jan 15, 2018

The US Ambassador to India has suggested that deepening political and economic cooperation between the US and India could eventually lead to the conclusion of a bilateral free trade agreement....

Tax-News.com: Canada Disappointed By Latest US Trade Dispute Finding

Fri, Jan 12, 2018

The Canadian Government has described the US Government's preliminary countervailing duty ruling on imports of Canadian uncoated groundwood paper as "unjustified."...

Tax-News.com: Attempts To Preserve SALT Deductions Could Be Unlawful: TF

Thu, Jan 11, 2018

The Tax Foundation has suggested that strategies currently being explored by US states to preserve state and local tax deductions for high-income residents face legal challenges....

Tax-News.com: Walmart Joins The Ranks Of US Firms 'Sharing US Tax Reform Benefits'

Thu, Jan 11, 2018

Walmart, the US retail giant, has become the latest company to announce perks for its employees as a result of the passage of the US tax reform bill. ...

Tax-News.com: USITC Confirms Countervailing Duties On Tubing From China, India

Thu, Jan 11, 2018

The United States International Trade Commission will issue countervailing duty orders on imports of cold-drawn mechanical tubing from China and India, after determining that they are causing material injury to US manufacturers....