International Tax Experts Pan Biden’s Pillar Two Plan
During a House Ways and Means Tax Subcommittee hearing July 19, a panel of international tax lawyers and global experts …
Half of Foreign Assets Held in Tax Havens, New Research Estimates
With the goal of shedding light on what foreign financial reports can tell about offshore holdings and the effect of …
New OECD Guidance Includes Transitional Safe Harbor for Pillar Two Top-Up Tax
Updated administrative guidance on the Organization for Economic Co-operation and Development (OECD)/G20 Inclusive Framework on Base Erosion and Profit Shifting’s …
OECD Reports ‘Significant Progress’ on Pillar One as Members Extend Digital Services Tax Delay
Countries that have or plan to enact a digital services tax agreed to continue to hold off another year while …
Werfel Announces Upcoming Expansions to In-person, Online Services
Three months following the conclusion of this year’s tax filing season, the IRS provided an update on how it has …
IRS Launches Criminal Investigation into Abusive Malta Pension Plans
The IRS’ crackdown on a tax scheme involving Maltese pension plans has taken a turn as the agency’s Criminal Investigation …
Senate Budget Committee Hears From Experts on Preserving Social Security
Government and policy group officials testified before the Senate Budget Committee to address the looming threat of potential Social Security …
IRS Finalizes 2020 Proposed Consolidated NOL Carryback Regs
The IRS has finalized proposed regs it issued in 2020 that provided rules for consolidated net operating loss carrybacks. The final …
IRS Releases Updated Publication on Establishing Reasonable Cause for Missing and Incorrect Taxpayer Identification Numbers
The IRS has updated IRS Publication 1586 (Reasonable Cause Regulations and Requirements for Missing and Incorrect Name/TINs). The publication was last updated in July …
IRS Details Roadmap for Qualifying Advanced Energy Project Credits
The IRS reminded taxpayers of important upcoming dates and eligibility requirements for the Qualifying Advanced Energy Project Credit Allocation Program …