International taxes

The Internal Revenue Service is reminding all taxpayers with a filing requirement for a foreign bank account report to report their foreign assets by the June 30 deadline.

Republican leaders of Congress’s two tax-writing committees are questioning recommendations from the Organization of Economic Cooperation and Development aimed at stopping multinational corporations from shifting their profits to low-tax countries.

Heads of state meeting at the G7 Summit in Bavaria, Germany committed to promoting automatic exchange of tax information and tax rulings to discourage multinational companies from shifting profits from country to country to avoid taxes.

As expatriate taxpayers face increasing difficulties from implementation of the Foreign Account Tax Compliance Act, the Internal Revenue Service is offering YouTube videos and other online resources to assist taxpayers overseas.

Rothschild Bank AG, the Zurich-based private bank of the Rothschild financial dynasty, became the latest Swiss bank to be fined by the U.S. Justice Department for helping Americans conceal assets offshore.

Bloomberg BNA Tax & Accounting executive editor George Farrah talks about new features in his company's research products, in an interview with Accounting Today editor-in-chief Dan Hood.

The Internal Revenue Service has released new guidance on penalties for failing to file a foreign bank account report, capping the maximum percentage of the penalty and providing new requirements for documentation and approval by IRS examiners.

Microsoft Corp. and the IRS are back in court, this time fighting about the U.S. tax agency’s interest in hiring David Boies, the lawyer who beat Microsoft in an antitrust case in 2000.

A new report from Ernst & Young demonstrates how many multinational corporations are being pushed in the direction of greater transparency about their tax strategies as their reputations come under attack in the U.S. and abroad for shifting their profits to tax havens.

The Internal Revenue Service’s Criminal Investigation unit was among the law enforcement agencies involved in indicting nine officials from FIFA, the international soccer federation that hosts the World Cup, along with five corporate executives involved in a massive bribery scheme.

Finter Bank Zurich agreed to pay a $5.4 million penalty and become the third Swiss bank to settle under a U.S. program that lets firms avoid prosecution if they say how they helped American clients avoid taxes.

CFOs of multinational corporations have mixed reactions to the Organization of Economic Cooperation and Development’s crackdown on base erosion and profit shifting by global companies, according to a new survey.

Companies with non-U.S. earnings parked overseas should start contemplating what they will do with the money if tax repatriation legislation is passed.

More Americans living outside the U.S. gave up their citizenship in the first quarter of 2015 than ever before, according to data released Thursday by the IRS.

The Foreign Account Tax Compliance Act is meeting with some success in prompting foreign banks to disclose the holdings of U.S. taxpayers to the Internal Revenue Service, according to a former IRS official.

An OECD initiative on tax evasion is causing ripples around the world

Ontario’s government is ending tax breaks to film producers and other businesses as it looks to double savings to meet its target for a balanced budget in two years.

The National Taxpayer Advocate has recommended that the reporting rules under the Foreign Account Tax Compliance Act and for Foreign Bank Account Reports in effect be merged to simplify the duplicative disclosure requirements that make it difficult for American expatriates to have bank accounts in the foreign countries where they live.

Swiss banks, for decades the bastions of secrecy, are preaching the virtue of transparency to their U.S. clients as they try to head off billions of dollars in potential fines for helping Americans evade taxes.

Former UBS AG executive Hansruedi Schumacher pleaded guilty to conspiracy to defraud the U.S. as part of the government’s prosecution of financial industry officials who help Americans dodge taxes.