Corporate tax news — from filing obligations to policy changes affecting businesses of every size.
Companies may throw holiday parties for many reasons but typically, it’s a way of saying thank you to employees for their service. Here are tips to keep in mind to ensure a great holiday party for employers and employees alike.
The Ninth Circuit is sending a Starbucks “phantom wage” lawsuit back to state court. That was the ruling from the Court which found that the Oregon District Court did not have the authority to grant summary judgment.
Apple was the recipient of illegal tax breaks from Ireland. That was the finding today of a European Union (EU) Commission investigation into the tech giant’s business and tax practices. The company has been ordered to pay €13 billion ($14.5 billion U.S.), plus interest, to settle back taxes.
For more than two years, Apple shareholders and consumers alike have waited for the results of a European Commission investigation into the computer giant’s tax structures and practices. The wait may now be over: last week, rumors swirled that a ruling would likely come this week. A ruling may come as soon as tomorrow.
Apple CEO Tim Cook recently fielded questions on Apple’s tax practices, including the company’s decision not to repatriate income earned overseas – at least not just yet. Cook invoked the “f” word when talking about offshore income, saying that he wouldn’t bring Apple’s overseas funds “until there’s a fair rate,” meaning, of course, a “fair” tax rate. Here’s what you need to know about Cook’s comments and Apple’s storied tax history.
The IRS has alleged that Facebook has failed to comply with a 7th summons isn’t the only tax issue for the social media giant. On the same day that Facebook announced second-quarter profits of $2.06 billion, the company indicated that could be subject to additional federal income taxes of $3 billion to $5 billion.
The U.S. Department of Justice filed a petition this week in an effort to force social networking company, Facebook Inc., to turn over information to the Internal Revenue Service (IRS) about the transfer of assets to Facebook’s Irish holding company, Facebook Ireland Holdings Limited (Facebook Ireland).
Ryanair, the low cost, big number European airline headquartered out of Dublin, Ireland, has announced that it will close its Oslo Rygge base out of southern Norway in October of 2016. The decision was made after the Norwegian Government confirmed a new tax on departing passengers.
In December of 2015, Wal-Mart PR, the Puerto Rico arm of the venerable Wal-Mart chain, filed a lawsuit against the Commonwealth of Puerto Rico in a bid to overturn certain new tax laws the retailer claimed were discriminatory and violated federal laws and the U.S. Constitution. Today, the U.S. District Court formally agreed with the retailer in Wal-Mart Puerto Rico Inc. v. Zaragoza-Gomez, 15-cv-3018, U.S. District Court, District of Puerto Rico (San Juan).
Uber drivers were worried for the privacy of their personal data after one driver had her information exposed over the internet. The on demand car company is blaming the incident on a “bug.”