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The Internal Revenue Service (IRS) announced that it is revising and expanding eligibility for its Voluntary Classification Settlement Program (VSCP), extending the program through June 30, 2013. The VSCP is available to businesses, tax-exempt organizations and...
Reuters is reporting that the United States (US) and Ireland have agreed to share information about wealthy citizens' financial accounts in an agreement intended to combat tax evasion. This pact marks the latest in a series of bilateral agreements announced in recent...
The New York Times recently reported that Starbucks offered to pay Great Britain around $16 Million dollars in corporate taxes in order to quell the protests against the retail coffee giant, when it was revealed that Starbucks had not paid corporation tax in the U.K....
On December 10th, 2012, Franchise Tax Board (FTB) Executive Officer, Selvi Stanislaus, announced Jozel Brunett as the FTB's new Chief Counsel. Ms. Brunett has been with the FTB for 18 years. Ms. Brunett was most recently director of the Tax Administration and...
Bloomberg News reports that the Swiss government has initialed an agreement with the United States (US) which helps American authorities crack down on wealthy citizens evading taxes in their home country.The US adopted Foreign Account Tax Compliance Act (FATCA) in...
In the November election, California voters passed Proposition 30, and as a result the statewide sales and use tax rate will increase one quarter of one percent (0.25%) beginning on January 1, 2013. The higher tax rate will apply for four years; January 1, 2013...
On November 20, 2012, a Michigan Court of Appeals ruled that the Multistate Tax Compact (MTC) election is not available for Michigan taxpayers. The Court of Appeals affirmed the lower court's decision that IBM could not elect to apportion its income according to the...
California readers know that just about the last thing a person wants is for a federal grand jury to hand down charges alleging tax fraud. These tax crimes allegations carry with them serious financial and criminal penalties that can lead to a substantial jail...
On November 19, 2012, the Mexican Undersecretary of Revenue, José Antonio González Anaya, and United States Assistant Secretary for Tax Policy, Mark J. Mazur, signed a government-to-government agreement for the bilateral implementation of the Foreign...
On November 15, 2012, the United States and Denmark signed a reciprocal bilateral agreement and memorandum of understanding laying out a cooperative governmental approach to implementing the Foreign Account Tax Compliance Act (FATCA). This is only the second such...
