5+ hour, 56+ min ago   (799+ words) In a push to reduce complexity and improve competitiveness, the European Commission released two landmark proposals June 24 — the Recast of the Directive on Administrative Cooperation, or DAC, and the Omnibus on Taxation — that aim to simplify and recalibrate the EU…...

1+ day, 1+ hour ago   (593+ words) Fast-track settlement can be an attractive alternative for taxpayers seeking a timely resolution of their dispute with the IRS. Efforts to improve the program are starting to pay off: There has been a marked increase in participation between fiscal year…...

4+ day, 12+ hour ago   (101+ words) news.bloombergtax.com Massachusetts lawmakers stalled legislation this week that would have dramatically expanded the share of foreign income multinational corporations are required to report for state tax calculations. The Joint Committee on Revenue voted to table a bill (H…...

1+ week, 5+ day ago   (94+ words) Rules on Charitable Remainder Annuity Trusts Finalized by IRS news.bloombergtax.com The IRS finalized rules Wednesday adding certain uses of charitable remainder annuity trusts to its list of tax avoidance transactions. The IRS keeps an ongoing record of transactions…...

1+ week, 6+ day ago   (321+ words) Tax certainty and tax stability for investment projects. The bill would reinstate a long-term tax stability regime for capital-intensive investment projects. The minimum investment amount is$50 million, and the regime applies to both foreign and local investors in capital-intensive sectors…...

2+ week, 13+ hour ago   (56+ words) news.bloombergtax.com A now-defunct Indian restaurant didn’t persuade the California Office of Tax Appeals that a tax agency miscalculated its sales tax liability based on how much food it sold to-go. Learn more about Bloomberg Tax or Log In…...

2+ week, 13+ hour ago   (279+ words) Eaton Corp. can’t recoup $1.4 million in use tax assessed on materials it used for federally contracted construction despite written advice from a state tax department, the California Office of Tax Appeals ruled in an opinion posted Monday. The power management…...

2+ week, 6+ day ago   (185+ words) Requests, which occur between tax authorities, involve the sharing of financial information that foreseeably would be relevant for audits and other tax law matters. “These results highlight the significant role of international co-operation in tackling offshore tax evasion and improving…...

1+ mon, 1+ week ago   (759+ words) The latest defeat of a constitutional challenge to the state and local tax deduction cap underscores that the cap’s real defect isn’t that Congress lacked the power to enact it. It’s that Congress used its power to create a blunt,…...

1+ mon, 2+ week ago   (551+ words) The Trump administration’s order allowing the IRS to reclassify more than a dozen positions making them easier to fire includes some of the most influential positions at the embattled agency. President Donald Trump’s long-awaited executive order signed Wednesday targets some…...