Tax Strategies

The European Council of Ministers has agreed to take steps to combat the use of corporate tax strategies that shift profits to low-tax countries to avoid paying taxes.

What do the Senate hearings on offshore profit shifting and a Supreme Court case decided on May 20, 2013 have in common? They both are generated by our system of taxing U.S. companies on their worldwide income, and they both are the result of the companies meeting their obligations to their shareholders, which is to legally minimize the amount of taxes they pay.

A pair of lawmakers have introduced legislation to end a tax break that favors foreign-controlled insurers over U.S. insurers.

Understanding the detailed requirements of the health care reform law, and the potential penalties of noncompliance presents, challenges to accountants who are trying to advise their business clients about the Affordable Care Act.

A group of CPAs headed to Capitol Hill yesterday in what has become an annual ritual as they pressed lawmakers to deal with the many issues that accountants and their clients are forced to wrestle with on a daily basis, including taxes and regulations.

Apple Inc. Chief Executive Officer Tim Cook will face off against U.S. senators leveling accusations the iPhone maker has created a web of offshore entities to avoid paying billions of dollars in U.S. taxes.

The Internal Revenue Service’s Large Business & International division and its Wage and Investment division have teamed up to create a discovery tool for taxpayers with international filing requirements.

New River Innovation has enhanced its Beyond415 WorkCenter and Beyond415 Guidance products, including a simplified user interface, interactive file system, automatically saved documents, and guidance on the core phases of tax practice and procedure work.

The Marketplace Fairness Act, which the Senate passed last week, would require e-commerce vendors to collect sales taxes not only on physical items, but also on digital goods such as ebooks and music downloads.

The American Institute of CPAs has sent a letter to the Internal Revenue Service asking the IRS to re-evaluate some of its proposals for a safe harbor method for the home office deduction, even though the AICPA acknowledged that the method would be simpler for taxpayers to use.