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The bank admitted that it helped hundreds of American clients hide more than $1 billion in assets from the Internal Revenue Service and agreed to pay $192.4 million to resolve a decade-long U.S. tax investigation.December 12
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The Treasury Department is planning to issue regulations restricting how hedge fund managers can claim a valuable tax break early next year.November 13
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The U.S. Treasury Department plans to pare back regulations championed by President Barack Obama that were intended to prevent American companies from moving profits offshore to avoid taxes.November 1
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The Internal Revenue Service and the Treasury Department released a draft version of a proposed tax form to collect information about qualified opportunity zones.October 31
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Treasury Secretary Steven Mnuchin said he had no knowledge that his long-time friend and billionaire Michael Milken would benefit from a tax break his agency approved last year for a property in Nevada.October 30
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The federal government is taking in less money but can’t tell if the shortfall is tied to the 2017 tax cuts or other factors like trade uncertainty, the Congressional Budget Office said in a letter.October 28
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The regs aimed to prevent U.S. companies from shifting income to offshore branches.October 9
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The Treasury Department and IRS issued proposed regulations to help taxpayers avoid negative tax consequences in the transition away from the London Interbank Offered Rate and other interbank rates to newer reference rates.October 8
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Treasury’s inspector general is investigating how the department handled a request from Congress to turn over President Donald Trump’s tax returns, which was rejected by Treasury Secretary Steven Mnuchin.October 7
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The tax break allows businesses to write off most depreciable business assets during the year they are placed in service.September 13
