Tax laws

Even though each digital service provider differs from the next, all DSPs are forced to navigate a complicated, evolving and non-harmonized set of tax rules that govern their businesses around the world.

The Internal Revenue Service provided guidance and a safe harbor Wednesday for businesses that claim carbon capture credits in an effort to reduce emissions of carbon dioxide.

Internal Revenue Service officials said Wednesday they will be visiting approximately 800 taxpayers who earn over $100,000 a year and haven’t filed one or more tax returns in prior years.

Spain will introduce a digital services tax at the end of the year that would hit the revenue of companies such as Facebook Inc. and Alphabet Inc.’s Google in a move likely to draw the ire of the U.S. administration.

Mark Zuckerberg for the first time said he supports efforts to create a global digital tax that would ultimately raise the amount Facebook Inc. pays to foreign countries, in a move that may boost efforts to put a new levy in effect by year-end.

Sen. Ron Wyden, D-Ore., the top Democrat on the Senate Finance Committee, and Sen. Sherrod Brown, D-Ohio, have introduced legislation to block the Treasury Department from providing a way for multinational corporations to choose the lowest available tax rate.

Updating global tax rules could boost government revenue by as much as $100 billion, the Organization for Economic Cooperation and Development said Thursday in an effort to spur complex negotiations between world powers.

The university is dealing with a new levy on college endowments included in the 2017 tax overhaul, the first time private colleges will pay such a fee.

A group of IRS stakeholder organizations has submitted a letter to the Treasury Department and the Internal Revenue Services with suggestions on the implementation of the Taxpayer First Act.

Several recent tax law changes promise to help religious groups, houses of worship, charities, private foundations, utilities and other tax-exempt organizations, according to the Internal Revenue Service.