Tax

When taxpayers rent out a room on Airbnb, they may realize that any compensation they receive is subject to income tax. Lodging tax, however, is probably not on their minds.

The Internal Revenue Service met Thursday with tax preparation and software companies, payroll and tax financial product processors, and state tax administrators to announce a sweeping new collaborative effort to combat identity theft refund fraud and protect taxpayers.

The House approved legislation by voice vote permanently banning states from taxing Internet access or placing multiple or discriminatory taxes on e-commerce.

Republican leaders of Congress’s two tax-writing committees are questioning recommendations from the Organization of Economic Cooperation and Development aimed at stopping multinational corporations from shifting their profits to low-tax countries.

Heads of state meeting at the G7 Summit in Bavaria, Germany committed to promoting automatic exchange of tax information and tax rulings to discourage multinational companies from shifting profits from country to country to avoid taxes.

Our weekly roundup of tax-related investment strategies and news your clients may be thinking about.

Some of our favorite recent tax fraud cases.

A businessman caught in a money-laundering sting helped the U.S. prosecute a foreign business—and now he’s seeking $22.2 million from the government as a reward.

LexisNexis has introduced Lexis Advance Tax, a specialized research portal providing news and analysis to accountants, tax and estate attorneys, government tax professionals and other tax practitioners.

The House Judiciary Committee, through its Subcommittee on Regulatory Reform, Commercial and Antitrust Law, held a hearing Tuesday on nexus issues involving three bills before the Committee.