Tax regulations

Even the easiest client engagement can turn difficult when family gets involved.

The U.S. government has signed “competent authority arrangements” with the United Kingdom and Australia to advance their intergovernmental agreements to combat tax evasion under the Foreign Account Tax Compliance Act, or FATCA.

Senator Elizabeth Warren urged the Treasury Department to finalize its rule limiting the tax benefits enjoyed by private equity managers.

As the Baby Boomer generation ages and faces the prospect of needing to hire caregivers, accountants are increasingly being called upon to help families sort out the tax issues associated with hired domestic help.

The Internal Revenue Service has issued a notice and revenue procedure indicating it is studying issues related to the spinoff of real estate assets for tax reasons.

Proposed regulations released by the Treasury Department in January provide guidance on the definition of internal use software for the R&D tax credit.

The IRS relieved small business taxpayers earlier this year from having to file mandatory Form 3115’s to comply with the newly issued tangible property regulations. Accepting this relief under Rev. Proc. 2015-20 is done merely by filing a federal tax return, leaving many accountants and tax professionals unaware of the negative consequences of doing nothing.

Americans for Tax Fairness, a coalition of 453 national and state organizations advocating for tax reform, has challenged the B Corporation status of Brooklyn-based Etsy, Inc., following the online craft seller’s restructuring of a subsidiary in Ireland, a tax haven, to dodge U.S. taxes.

The Internal Revenue Service has proposed regulations changing the amount of the penalties for failing to include information required to be disclosed about reportable transactions.

The chairmen of Congress’s two main tax committees, House Ways and Means Committee chairman Paul Ryan, R-Wis., and Senate Finance Committee chairman Orrin Hatch, R-Utah, have written to Treasury Secretary Jacob Lew saying he should hold off on developing country-by-country reporting regulations for taxation of multinational corporations.

For a moment there, Donald Trump was starting to sound a lot like Bernie Sanders.

Check out the digital edition of the August 2015 issue of Accounting Today.

Microsoft Corp.’s stockpile of offshore profits rose to $108 billion, with a 17 percent increase over the past year as the company continues reaping profits in low-tax foreign jurisdictions.

Accounting Today editor-in-chief Dan Hood previews the August issue in this summer camp video.

I have a confession to make: I died two years ago.

Takeaways from the first season of the repair regulations

The Internal Revenue Service is providing a safe harbor for contracts on services that are performed on a regular basis such as janitorial and landscape maintenance and software support.

The Internal Revenue Service is hampered by incomplete information from health insurance marketplaces in its efforts to oversee tax breaks for individuals in the Affordable Care Act, according to a new government report.

Wolters Kluwer Tax & Accounting US has introduced a self-study e-learning program on the Internal Revenue Service’s tangible property repair regulations that comes with continuing professional education credits and a certificate of completion.

In a coordinated broadside at the complexity of the tax code for small business owners, both the House and Senate held hearings Wednesday with similar themes.