Posts tagged as:

international taxpayers

IRS Extends OVDI Deadline Due to Hurricane Irene

27 August 2011

Hurricane Irene is huge. As of last night, 29 million people were under a hurricane warning. The effects of the hurricane are expected to be felt this weekend by nearly 55 million people, or just under the total population of the United Kingdom. Even as the storm is downgraded to a Category 1, power outages [...]

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FBAR Deadline Looming

21 June 2011

Donna (not her real name, of course) has been breaking the law for years. The funny thing is she doesn’t look like your stereotypical criminal: she’s well dressed, well spoken and well travelled. She hasn’t physically harmed anyone. She hasn’t stolen anything. I’m not sure she has so much as a traffic violation. Her crime? [...]

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Shulman Talks International Tax At GWU

10 December 2009

Today, the IRS published the “Prepared Remarks of Commissioner Douglas Shulman before the 22nd Annual George Washington University International Tax Conference.” You can read the whole speech here. But for those of you who don’t have the time to read the 2703 word speech, here’s a summary: Shulman started out with an update on three [...]

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“Complexity of Tax Law” Not a Challenge for IRS?

2 November 2009

What challenges are the IRS facing this year? Apparently not the complexity of the Tax Code. The Treasury Inspector General for Tax Administration (TIGTA) released its perspective two weeks ago on the most serious management and performance challenges confronting the IRS. The top 10 challenges in order of priority are: Modernization; Security; Tax Compliance Initiatives; [...]

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Offshore Voluntary Compliance Program Deadline Extended

21 September 2009

The Internal Revenue Service has announced an extension of the deadline for its Offshore Voluntary Compliance Program. The deadline, which was initially September 23, 2009, has been pushed out until October 15, 2009. While more than 3,000 have come forward so far, the program is expected to garner considerably more taxpayers before the deadline. With [...]

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Landmark Transfer Pricing Case: Is it a Different World?

29 May 2009

It’s rare that decisions regarding transfer pricing make big news. But this one is different. An IRS victory in the Ninth Circuit against chip company Xilinx Inc. earlier this week may change the way that companies allocate their costs for purposes of transfer pricing. The decision already has international tax practitioners abuzz. The facts of [...]

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Obama Corporate Tax Proposals Not Met With Enthusiasm (Psst, No one is surprised)

6 May 2009

Republicans in the Senate have made it clear that they are not fans of President Obama’s proposals to close international tax “loopholes.” Specifically, Senate Minority Leader Mitch McConnell (R-KY) decried the proposal, claiming that, “Amount to a tax increase during a recession, which would likely drive jobs overseas.” Of course, the Obama administration is painting [...]

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Obama Set to Shake Up Corporate Tax “Loopholes” Today

4 May 2009

The Obama administration is planning to announce a steps towards his promised “massive overhaul” of international financial regulations this morning. Administration officials do not expect the announcement to be popular. So, the good news first. Obama will announce plans to make permanent a research tax credit that was to expire at the end of the [...]

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