Tax

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.

Leaders from the service’s Criminal Investigation unit and tax authorities from Australia, the U.K., Canada and the Netherlands met in Australia this week to set priorities in the fight against international tax crimes.

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.

5G and the cloud; EITC refund timeframe; EideBailly; and other highlights from our favorite tax bloggers.

They’re still valuable, but require stricter attention to the rules than ever.

Michael Bloomberg is proposing a financial transactions tax of 0.1 percent and merging Fannie Mae and Freddie Mac as part of a proposal for regulating Wall Street for a financial system “strong enough to weather crises without harming the broader economy or requiring taxpayer bailouts.”

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.

Taxpayers prevailed in only 23 out of 55 (41.8 percent) of the significant tax cases involving state and local taxes in the fourth quarter of 2019, and for the entire year only 83 out of 218 (38.1 percent) of the significant tax cases in 2019, according to a recent analysis.

The state's proposal to tax digital ads has sailed right past controversial to land in the realm of is this really happening?

The Internal Revenue Service urged tax professionals and taxpayers to use the free, multi-factor authentication feature offered on tax prep software, as nearly two dozen firms reported data thefts so far.