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Tax-News.com: IRS Opens US Compliance Assurance Program To Applicants

On June 14, 2019, the US Internal Revenue Service announced that it is looking for new applicants for the Compliance Assurance Process (CAP), a cooperative compliance program aimed at publicl...

Tax-News.com: US Congress Passes IRS Reform Bill

On June 13, 2019, the US Senate approved the Taxpayer First Act, which is intended to overhaul the Internal Revenue Service and strengthen taxpayer rights. ...

Tax-News.com: US House Passes IRS Reform Bill

On June 10, 2019, the United States House of Representatives approved legislation which would reform the rules governing the Internal Revenue Service....

Tax-News.com: IRS To Probe Deeper Into Cost-Sharing Arrangements

The US Internal Revenue Service has directed its transfer pricing examiners to resume reviewing taxpayers' transfer pricing positions with respect to cost-sharing agreements in certain circumstance...

Tax-News.com: US IRS Commits To Resolve Transition Tax Issues

A review of the deemed repatriation tax under the United States Tax Cuts and Jobs Act 2017 by the Treasury Inspector General for Tax Administration has found that the Internal Revenue Service encou...

Tax-News.com: Democrats Introduce US Anti-Offshoring Bills

Three Democratic members of the United States Senate have introduced two tax bills designed to discourage US companies from shifting their operations overseas and establishing arrangements in low-t...

Tax-News.com: IRS Proposes Extra Controlled Foreign Company Rules

The United States Internal Revenue Service has proposed rules regarding the attribution of ownership of stock or other interests for purposes of determining whether a person is a related person wit...

Tax-News.com: Wyden Bill Would Close US Carried Interest 'Loophole'

On May 23, 2019, the Ranking Member of the United States Senate Finance Committee, Ron Wyden (D-OR), introduced a bill to change the tax treatment of income earned by investment fund managers....

Tax-News.com: IMF Advises Luxembourg On Coping With International Tax Changes

The IMF has welcomed Luxembourg's efforts to meet international tax standards but cautioned that international tax reform could hit the country's tax base....

Tax-News.com: US Companies Urge Senate To Approve Tax Treaties

In a letter published on April 29, 2019, the United States National Foreign Trade Council urged the Senate to approve several pending double tax avoidance treaties....