Tax practice

German Finance Minister Wolfgang Schaeuble said a fresh proposal for a 10-nation European financial transaction tax was a “small step” forward, though doubts remain that a deal can be reached.

This may be the last time you see a reminder that the FBAR (Report of Foreign Bank and Financial Accounts) filing deadline of June 30 is fast approaching. That’s because, beginning in 2017, the annual FBAR filing will coincide with the April 15 income tax filing deadline.

Publicly available data on e-filed 990s will now be available in a machine-readable format through Amazon Web Services, the IRS announced.

Sharing of information on business taxes by state tax authorities could improve business tax compliance, according to a new study.

Dan Loeb’s Third Point Reinsurance Ltd. said scrutiny of the industry’s offshore tax advantage has lessened after hedge fund manager John Paulson closed a venture that stood out as an “outlier” for its aggressive use of strategies that were criticized as abuses.

While Europe and global financial markets are consumed by the prospect of Brexit, business rolls on in Brussels.

Highlights of some of our favorite tax-related blogs from the past week.

Payments that a business makes are generally deductible if they are “ordinary and necessary” under Internal Revenue Service regulations unless, that is, they are specifically denied deductibility.

A House committee voted Wednesday to censure Internal Revenue Service Commissioner John Koskinen over Republican claims that he obstructed an investigation into whether his agency targeted conservative groups seeking tax-exempt status.

The cost of compliance with the ever-growing Tax Code costs U.S. taxpayers a total of 8.9 billion hours and $409 billion, according to new research.

The Internal Revenue Service has released final regulations relating to the exclusion from gross income of discharge of indebtedness income of a grantor trust or an entity that is disregarded as an entity separate from its owner.

The Internal Revenue Service has issued guidance on whether payments from a qualified retirement plan during a phased retirement are considered an annuity.

The Internal Revenue Service plans to change some of its procedures for reviewing amended tax returns after a government report estimated it may have inappropriately allowed approximately $34.4 million in tax refunds and abatements.

Microsoft Corp. has enough cash to buy LinkedIn Corp. four times over. So why is it taking out a big loan to pay for its latest purchase?

A House committee plans to vote Wednesday on whether to censure Internal Revenue Service Commissioner John Koskinen over Republican claims that he obstructed an investigation into whether his agency targeted conservative groups seeking tax-exempt status.

The House passed Republican-backed legislation Tuesday that would prevent the Internal Revenue Service from requiring tax-exempt 501(c) organizations to disclose the names of donors on Form 990.

The Treasury Inspector General for Tax Administration warned Tuesday about a new twist in the IRS impersonation scam, with fraudsters pretending to be Internal Revenue Service employees demanding taxpayers send them tax payments not only on iTunes gift cards, but on other types of gift cards as well.

The Tax Court has decided in favor of Medtronic in its dispute over the transfer pricing methodology used by the IRS in valuing the contributions of the medical device maker's Puerto Rican affiliate.

The Internal Revenue Service is revising its civil asset forfeiture policies after coming under pressure from Congress for failing to return funds wrongly seized from small businesses.

The Taxpayer Advocate Service has added a new Employer Shared Responsibility Provision Estimator online tool to help a business determine its potential liability under the Affordable Care Act for the employer mandate.