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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...
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...
In an update from a previous post regarding a large donation made by an out-of-state non-profit to oppose Governor Jerry Brown's tax initiative ("California audits can arise for a wide range of reasons," Oct. 29, 2012), the California Supreme Court has ruled that the...
The Bureau of National Affairs (BNA) has published an article which argues that the activities involved in selling intangible goods, such as songs and digital books, by means of the Internet are not sufficiently connected to states so as to permit states to tax them....
Tax issues can follow an individual for a long time if they choose not to address it by coming to an agreement with the IRS on how they will pay this debt. However, what if an individual claims to have paid the tax debt but still gets a bill years later? A California...
The California Franchise Tax Board (FTB) recently issued a Chief Counsel Ruling 2012-03 addressing the throwback rules applied to sales made, by California based corporations, to purchasers located in foreign jurisdictions and other states. The throwback rule under...
From Argentina to the United Kingdom, and places in between like India, Israel, Korea, New Zealand, Singapore, Bermuda, Brazil, the BVI and Check Republic, the Treasury Department announced today that it is engaged with over 50 countries and jurisdictions worldwide to...
On November 5, 2012, the Tax Court ruled on case involving the first-time homebuyer credit overruling the Internal Revenue Service (IRS) that had consistently held that both spouses had to qualify individually for the credit. The Court noted Congress enacted the...
Facing prosecution from state or federal authorities on alleged tax violations can be a daunting prospect. However, despite the risk of facing prosecution for tax crimes, in many cases, there are circumstances that may mitigate or refute the charges filed by...
An article in the Sunday edition of the Washington Post details the continued erosion of Switzerland's banking secrecy laws. As many of Europe's economies continue to experience stagnant economic conditions, many countries have taken aim at Switzerland's vaults in the...
