A petition of nearly 4,000 practitioner signatures has gone to the IRS to urge it to reverse its decision to retire two e-Services products used to file disclosure authorizations and resolve IRS account problems. In June, the IRS said that it plans to retire the Disclosure Authorization and Electronic Account Resolution e-Services products on August 11…
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IRS Launches New FATCA Web Page
The IRS has redesigned and updated its FATCA web pages to include: A new landing page for US financial institutions that addresses their FATCA responsibilities. Another new page provides information for governments interested in Intergovernmental Agreements (IGAs). A link for the FATCA registration website will be added in August, when the registration system opens. Need FATCA Help?Contact…
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OECD launches Action Plan on Base Erosion and Profit Shifting
National tax laws have not kept pace with the globalization of corporations and the digital economy, leaving gaps that can be exploited by multi-national corporations to artificially reduce their taxes. OECD’s Action Plan on Base Erosion and Profit Shifting (BEPS) offers a global roadmap that will allow governments to collect the tax revenue they need…
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IRS Seeks Comments on Offshore Voluntary Disclosure Program!
The Internal Revenue Service is asking for public comment on information collection tools relating to the Offshore Voluntary Disclosure Program, according to a notice in the July 18 Federal Register Notice Proposed Collection; Comment Request on Information Collection Tools Relating to the Offshore Voluntary Disclosure Program (OVDP) Action Notice And Request For Comments. Summary The…
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