On February 15, 2019 the IRS issued IR-2019-17 reminding taxpayers who need their prior-year tax records to either complete their 2018 tax return or to validate their income can use Get Transcript Online or Get Transcript by Mail. Taxpayers often call or visit the IRS seeking their prior-year tax transcript, which is a record of their tax return. Taxpayers…
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Top 5 International Tax Cases Of 2018
According to Law360, the past year saw a number of important international tax cases, including rulings about conflicting statutory and regulatory language involving U.S.-held foreign financial accounts and $608 million paid by Boston Scientific Corp. in a transfer pricing dispute. Here, Law360 looks at the top five international tax cases of 2018. U.S. v. Colliot In…
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Private Debt Collection Agencies Collected 2% on Tax Debts
The private collection agencies that contract with the Internal Revenue Service to collect long overdue tax debts were able to garner only about 2 percent of the taxes owed on the more than 700,000 taxpayer accounts assigned to them since 2017, according to a new government report. The report, from the Treasury Inspector General for…
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States Seek To Tax Foreign Income!
According to Law360, recent bills in Montana and Oregon that would require multinationals to report their global profits present a legally sound option for recouping tax revenue from overseas, but the method has a history of foreign resistance that could remain a challenge. Although the U.S. Supreme Court affirmed worldwide combined reporting in multiple rulings…
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