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The Big Four accounting firms expressed broad support for Ireland's plans to introduce corporate tax exemptions for foreign-sourced dividends and foreign branch profits, saying the changes are long overdue and would reduce complexities for taxpayers, according to comments published Wednesday.
A D.C. federal court correctly dismissed a lawsuit from an Israeli lawyer and his firm challenging the global intangible low-taxed income regulations because the suit would prohibit tax collection, the IRS told the D.C. Circuit Friday.
A Florida federal court on Thursday dismissed a suit and denied an evidentiary hearing request by three Peruvian siblings trying to keep the Internal Revenue Service from accessing their bank records on behalf of the Peruvian government.
The U.S. government hit multinational telecommunications company Liberty Global with a $283 million suit Friday in Colorado federal court, alleging the company attempted to exploit legal loopholes to avoid paying U.S. tax on income.
A lower court correctly interpreted the law in allowing the Internal Revenue Service to impose nonwillful $10,000 penalties for each foreign bank account that a Texas man didn't properly disclose, the U.S. government told the U.S. Supreme Court.