The Internal Revenue Service issued a notice saying that Bitcoin and other virtual currencies should be treated as property for federal tax purposes and the general rules for property ... Read More
NEW POWERS which will allow HMRC to raid bank accounts are “draconian” and could lead to an abuse of power suggest a tax reform group and ACCA. The March ... Read More
The threat of violence against professional tax return preparers is real. According to an item in the Minneapolis StarTribune on February 28, a man accompanying a female client to ... Read More
If the phone rings and the caller says he represents the IRS, be suspicious. That’s the warning from federal authorities, who on Thursday said a nationwide phone scam has ... Read More
Businesses are starting to move more of their operations to the “Cloud” and hire “Cloud” vendors to provide an increasingly diverse number of services. While engaging these vendors may ... Read More
TAX PRACTITIONERS expect plenty of revenue-raising activity in today’s Budget, as the chancellor looks to fund spending giveaways for businesses. Capital allowances for major infrastructure projects, announce more support ... Read More
A federal court may allow the convicted former chief of a telecommunications company to deduct more than $44 million from his taxes after he was forced to forfeit the ... Read More
Most U.S.-based multinational corporations paid lower U.S. taxes on their domestic profits than they paid to foreign governments on their foreign profits, according to a recent study. The study, ... Read More
THE AMOUNT of companies that have had assets seized and sold by HM Revenue & Customs in order to settle VAT bills rose significantly during the recession. According to ... Read More
The largest U.S.-based companies added $206 billion to their stockpiles of offshore profits last year, parking earnings in low-tax countries until Congress gives them a reason not to. The ... Read More
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