US – IRS Extends Colorado Storm 2012 Tax Relief Deadline

28 March, 2014

The deadline for taxpayers in Colorado to make a decision on claiming disaster losses has been extended to 15 October 2014. The disaster relief relates to the severe storms and flooding that also gave rise to landslides in September 2013. Taxpayers

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US: IRS has released its annual report for 2013 on APAs

27 March, 2014

The annual report on the advance pricing and mutual agreement (APMA) program was issued by the IRS on 27 March 2014. The APMA program takes place as part of the work of the Large Business and International Division of the IRS. The report shows that

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US: Important information regarding intra-group services

25 March, 2014

The regulations of Treasury and IRS final intercompany service were issued on 31 July 2009. Some permitted transfer pricing methods for services are similar to the OECD methods but the services cost method and shared services arrangements are also

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US – Tax Foundation Says IRS Mandate Should Shrink

24 March, 2014

The Tax Foundation (TF) in the US has recently recommended that, as the primary function of the Internal Revenue Service should be to collect tax revenue, it would be best to move the functions of refundable tax credits outside the tax code and

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US-Iraq Hold First TIFA Meeting

24 March, 2014

A joint council set up under the Trade and Investment Framework Agreement (TIFA) between the two countries has held its first meeting. The joint council provides a forum for discussion in relation to trade issues such as the rights of employees,

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US: Talks to Expand Duty-Free IT Agreement Deadlocked

24 March, 2014

Talks in the World Trade Organization (WTO) on broadening the scope of the Information Technology Agreement continue to be deadlocked after eleven days of negotiations. The product coverage of the existing agreement has not been updated since 1996,

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US Committee Considers Middle Class Tax Burden

24 March, 2014

In the US the Senate Finance Committee has been considering policy initiatives that could help to support and expand the middle class. These measures could include improvements to the education system, initiatives to increase the level of savings

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Finland and Chile Sign US FATCA

23 March, 2014

On March 5 2014 the United States signed intergovernmental agreements (IGAs) with Finland and Chile to implement the Foreign Account Tax Compliance Act (FATCA).  A total of twenty four of these IGAs have so far been signed by the US in connection

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US: DTA Protocols between the United States and various countries

16 March, 2014

The US Senate Committee on Foreign Relations held talks on February 26, 2014, on the double taxation agreement (DTA) Protocols between the United States and Switzerland and Luxembourg, and DTAs with Hungary and Chile, as part of the nation's

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US: IRS publishes annual statistics on foreign tax credits

16 March, 2014

The US Internal Revenue Service (IRS) has published a statistical report with data of corporations that claim the US foreign tax credit (FTC). The report was published by the IRS Statistics of Income (SOI) Division based on sampling of corporate

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US – Home Office Deduction Simplified

16 March, 2014

In the internet age the number of people able to run businesses from their home has increased. The Internal Revenue Service has reminded United States taxpayers with home-based businesses that this year, for the first time, they can choose a

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US: Finland and Chile Sign FATCA Pacts

16 March, 2014

On March 5, 2014 the United States signed intergovernmental agreements (IGAs) with Finland and Chile to implement the Foreign Account Tax Compliance Act (FATCA). To date, twenty four of these bilateral agreements have been signed between the US and

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US: American Citizens Abroad Argues for Residence-Based Taxation

16 March, 2014

An organization known as American Citizens Abroad (ACA) has provided testimony to the Senate Homeland Security and Governmental Affairs Permanent Investigations Subcommittee following its recent hearing on offshore tax evasion. The ACA has

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US: 2015 Budget would increase taxes for the wealthy

16 March, 2014

The Budget 2015 proposals would reduce the United States medium-term fiscal deficit by increasing revenues, particularly on the wealthiest taxpayers, but are unlikely to reach Congress. The US deficit would fall from 3.7 percent of gross domestic

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Canada: 100% surtax may be imposed on selected U.S. imports

16 March, 2014

Canada may go ahead with the imposition of a 100% surtax on selected U.S. imports in the first half of 2015. The surtax may affect Canadian businesses that import or export products. This proposed measure is a result of the United State's refusal to

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US – Tax Reform Discussion Draft

09 March, 2014

The House of Representatives Ways and Means Committee Chairman has issued a comprehensive income tax reform discussion draft, which proposes to reduce maximum tax rates and simplify the tax code. The discussion draft suggests that six different

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US: IRS Mentions Smooth Start to Tax Filing Season

09 March, 2014

The United States Internal Revenue Service (IRS) recently announced that it had received one-third of the individual income tax returns it had expected to receive during the whole 2014 filing season in the first three weeks. During each week in this

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United States: ADD/CVD Roundup for February 2014

06 March, 2014

Following table shows the Federal Register notices related to ADD/CVD cases for February 2014 in United States. Country Product Investigations Case Number Links Australia Electrolytic Manganese Dioxide Final Results of the Expedited First

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