Corporate taxes

Facebook Inc. must allow a U.S. judge to inspect documents it has avoided showing the Internal Revenue Service as part of an investigation into the company’s use of an Irish subsidiary for tax purposes.

President Donald Trump on Thursday fired off more criticism at Amazon.com Inc., saying his problems with the internet retailer predate his election a day after a report that he’s “obsessed” with regulating the company.

The Internal Revenue Service may be changing Schedule UTP, the Uncertain Tax Position Statement, which corporate taxpayers file with their Form 1120 tax returns, because it doesn’t contain enough information to be useful in compliance efforts, according to a new report.

Goldman Sachs Group Inc, Amundi SA and BlackRock Inc. were chosen to manage about 13 billion euros ($16 billion) in back taxes that Apple Inc. will pay to Ireland, bringing recovery of the cash a step closer.

Typically, taxpayers contract this affliction after the agency's examiners have packed up their belongings and left the building.

The European Union published proposals Wednesday for a 3 percent Digital Turnover Tax on the European B2B revenues of digital giants such as Google, Apple, Facebook, Amazon (termed GAFA in Europe), Uber and Airbnb.

Large digital companies operating in the European Union could face a tax on their gross revenue based on users’ locations.

A new academic study suggests that the provisions in the Tax Cuts and Jobs Act encouraging companies to repatriate their foreign earnings back to the U.S. at a reduced tax rate could lead to more spending on research and development.

The Treasury Department issued a strongly worded statement in response to a report from the Organization for Economic Cooperation and Development.

The U.S. Chamber of Commerce is asking the Internal Revenue Service for more guidance on the Tax Cuts and Jobs Act, asking for language specifying how qualified business income and limitations on business interest should be defined, among other matters.