The Internal Revenue Service released the 2016 IRS Data Book IR-2017-69, a snapshot of agency activities for the fiscal year. The 2016 IRS Data Book describes activities conducted by the IRS from Oct. 1, 2015, to Sept. 30, 2016, and includes information about returns filed, taxes collected, enforcement, taxpayer assistance, the IRS budget and workforce…
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Possible Phase In of Any Potential Border Tax Plan
According to Law360 -- House Republicans may be bending to political pressure over their most controversial proposal to revamp tax laws, with the leader of the chief tax-writing committee in the House of Representatives saying Wednesday that he is “contemplating significant modifications” to the border-adjusted tax plan. Despite opposition to the notion of the border-adjusted tax,…
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Amazon Defends It's Pricing and Tax Court Issues the IRS its 2nd Large §482 Defeat
On January 5, 2015 we posted Tax Cases To Watch In 2015? which included at #4 Amazon.com, Inc& Subsidiaries, (2017) 148 TC No. 8 and describe that Amazon was bitterly locked in a $1.5 billion transfer pricing dispute with the Internal Revenue Service over an arrangement it inked with a European subsidiary, and the outcome of…
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Breaking News – Possibly No Tax Reform This Year!
On November 9, 2016 we posted President-Elect Donald Trump Is Less Than Ideal for Tax Advisers? where we discussed that Donald Trump has proposed tax reforms that would: significantly reduce marginal tax rates for both individuals and businesses, increase standard deduction amounts to nearly four times current levels, limit or repeal some tax expenditures, repeal the…
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