Tax research

Big banks and wealthy investors are accused of benefiting from a tax credit program that is supposed to help poor communities, according to a new Senate report.

Taking advantage of low AFRs before they're gone

Approximately 83,000 employees and contractors who work for the Department of Defense, and are eligible for a security clearance, owe more than $730 million in unpaid federal taxes, according to a new government report.

The growing number and complexity of large partnerships, such as hedge funds, are making it difficult for the Internal Revenue Service to audit them effectively, according to a new government report.

Thomson Reuters has released a special report for tax professionals on how to respond to Internal Revenue Service examinations.

The nonpartisan Tax Foundation research group has released a primer on the Marketplace Fairness Act, the legislation that proposes to establish federal law governing sales taxes on online purchases.

Bloomberg BNA has released FATCA — Information Reporting and Withholding Under Chapter 4, a new report portfolio in which international tax practitioners from PricewaterhouseCoopers analyze the reporting and withholding requirements imposed by the Foreign Account Tax Compliance Act on both financial and non-financial institutions.

Sales and use tax software developer Avalara has signed a strategic alliance with tech industry tax specialist Carolynn Iafrate Kranz to use her database and expertise to help refine Avalara’s cloud-based system.

The international Organization for Economic Cooperation and Development has released a new report suggesting a number of reforms to strengthen the U.S. economic recovery, including tax reform.

Thomson Reuters has released a special report highlighting key provisions of the Affordable Care Act that employers, accounting firms and other professionals should understand to avoid tax penalties.

Thomson Reuters has introduced Checkpoint Catalyst, the latest generation of its online tax research system.

A temporary tax holiday for U.S. companies to repatriate offshore profits would cost the government $95.8 billion in revenue over a decade, said the Joint Committee on Taxation, Congress’s nonpartisan scorekeeper.

More than 70 percent of Fortune 500 companies booked their profits to offshore tax havens in 2013, with just 30 companies accounting for 62 percent of money in tax havens, according to a new report.

The Internal Revenue Service has released the spring 2014 edition of its quarterly Statistics of Income Bulletin, with statistics up through 2011 indicating there are still people who earn over $200,000 a year who pay no federal income taxes, although the number of them has been decreasing.

U.S. taxpayers have sharply contrasting opinions on the fairness of the various taxes they are forced to pay, according to a new survey.

The push for a corporate tax holiday to encourage repatriation of an estimated $2.1 trillion in foreign profits seems to have gained traction again, thanks to a recent proposal from former President Bill Clinton, but such an idea could provide multinational companies with the incentive for earnings manipulation, according to a new study.

U.S. corporations have reported to the Internal Revenue Service that 54 percent of their offshore profits are earned in 12 tax haven countries that, combined, only account for 4 percent of economic output among all countries where U.S. corporations do business.

Thomson Reuters has released a pair of new client marketing newsletters for CPA firms seeking to grow their accounting, auditing and international tax practices.

A site that connects people to online accounting degree programs has created a new infographic on Taxes Around the World, including some strange taxes such as a tax on cow flatulence in Denmark and a tax break in Canada for makers of breakfast cereal who put toys inside the boxes.

The recently released discussion draft of the Tax Reform Act of 2014 by the House Ways and Means Committee is intended to simplify the existing tax code, make it fairer to taxpayers and strengthen the U.S. economy by lowering tax rates.