United States Tax News
IRS Reminds Taxpayers to File by 30 September 2022 for COVID Penalty Relief
U.S. Office of Information and Regulatory Affairs Concludes Review of Regulations for Beneficial Ownership Reporting
US IRS and Treasury intend to issue proposed regulations on application of the noncompulsory payment regulations to certain amended Puerto Rico tax decrees
President Biden Reiterates Support for Global Minimum Tax in UN Address
US IRS official reemphasizes IRS focus on penalties in transfer pricing cases
ATO Publishes Draft Revised Ruling on the Right to Tax Interest Income of Financial Institutions Under U.S. and UK Tax Treaties
IRS Guidance Advises That Improperly Forgiven Paycheck Protection Program Loans are Taxable
IRS Issue Notice on Application of Foreign Tax Credit Noncompulsory Payment Rules to Amended Tax Decrees between MNEs and Puerto Rico
IRS Accepting Applicants for Compliance Assurance Process for 2023
Turkey Establishes Effective Date for CbC Exchange Agreement with the U.S.
US Chief Counsel memo clarifies process for determining assessment statute expiration date in multi-year Section 332 liquidation
Malaysia Ratifies FATCA Agreement with the U.S. Along with Implementing Rules and Regulations
U.S. Treasury Publishes Audit Report Finding that Compliance Efforts are Needed to Address Refund Claims Based on CARES Act NOL Carryback Provisions
EY Global Tax Controversy Flash Newsletter (Issue 50) | Updates to MAP processes may increase taxpayer participation
Israel and U.S. to Start Negotiations for Revised Tax Treaty
Idaho Approves Further Tax Rate Reductions for Individuals and Companies
Italian Court of Cassation holds EU regime on dividend distributions is also applicable to pension funds not qualifying as EU/EEA
US Sixth Circuit rules in favor of Eaton in appeal from Tax Court regarding APA cancellation
U.S. IRS Practice Unit on IRC 958 Rules for Determining Stock Ownership
Switzerland and U.S. to Start Negotiations for Tax Treaty Revisions
U.S. IRS Penalty Relief with Respect to 2019 and 2020 Individual and Corporate Returns
U.S. Senator Wyden Uncovers Major Loophole in Offshore Account Reporting
US IRS gives widespread penalty relief for 2019 and 2020 returns filed by 30 September 2022, will refund penalties already paid
US Tax Court increases Medtronic royalty rate under unspecified method
U.S. IRS Provides Further Delay for Certain Dividend Equivalent Rules
Fourth Quarter Update to U.S. 2021-2022 Priority Guidance Plan Released
U.S. Interest Rates on Overpaid and Underpaid Tax Increased for Q4 2022
US | Increased IRS funding from Inflation Reduction Act will likely affect transfer pricing cases
U.S. IRS Providing Further Deferral for Regulations on Foreign Currency Gains/Losses
U.S. Inflation Reduction Act of 2022 Signed into Law Including New Corporate Alternative Minimum Tax
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