Tax Strategies

The Internal Revenue Service reported Monday that the number of completed Advance Pricing Agreements, in which the IRS and multinational corporate taxpayers work out voluntary agreements on transfer pricing, fell last year as the agency coped with reorganization and personnel shifts.

Columnists Jones and Luscombe examine the tax treatment of frequent flier and rewards plans

The three winners of the record-breaking $656 million Mega Millions lottery jackpot will owe at least 25 percent of their winnings to the Internal Revenue Service.

President Obama said in his weekly address Saturday that Congress will be voting in the weeks ahead on the Buffett Rule, which would raise taxes on the wealthy.

The U.S. is set to have the highest combined federal and state statutory corporate tax rate in the industrialized world on Sunday, April 1, once Japan drops its top rate to 38.1 percent.

There’s good news and bad news to be found in the predictions of the tax business executives polled in the Tax Policy Forecast Survey.

The House has passed a Republican-sponsored budget alternative to President Obama’s fiscal 2013 budget, mostly based on the plan put forward by House Budget Committee Chairman Paul Ryan, R-Wisc., for creating only two tax brackets of just 10 and 25 percent.

A trio of House Democrats have introduced a bill that would provide tax relief to homeowners who were wrongly foreclosed upon and receive money from the recent nationwide mortgage foreclosure settlement.

The House Ways and Means Committee has passed a Republican-sponsored bill aimed at reducing taxes for small businesses that would also benefit larger companies.

The Internal Revenue Service has made organizational and administrative changes in the programs governing agreements between large businesses and the IRS over how tax transactions can be reported, particularly for multinational corporations using transfer pricing.