US ensure further tax benefits for same-sex married couples
The Treasury and Internal Revenue Service (IRS) have issued a further notice in response to the Supreme Court ordered that same-sex couples should be given all of the federal tax benefits that are extended to heterosexual married couples. On June
See MoreUS 2014 tax season to open on January 31
The United States Internal Revenue Service (IRS) has declared that it plans to open the 2014 tax filing season on January 31 instead of the original opening date of January 21. The new opening date for individual to file their tax returns for 2013
See MoreUS – IRS Issue Guidance for Tax-Exempt Entities
The United States Department of the Treasury and the Internal Revenue Service (IRS) have announced they are issuing initial guidance regarding qualification requirements for tax-exemption as a social welfare organization under section 501(c)(4) of
See MoreUS States Cut Taxes in 2013
Eighteen US states have cut taxes in the 2013 legislative year, reflecting an emphasis, following the recession, on pro-growth reforms that encourage economic expansion and competition, according to a new report by the Center for State Fiscal Reform
See MoreUS Signs FATCA Agreements with Cayman Islands and Costa Rica
The Department of the Treasury has announced that the United States has signed intergovernmental agreements (IGAs) with the Cayman Islands and Costa Rica to implement the Foreign Account Tax Compliance Act (FATCA). FATCA, enacted by Congress in
See MoreUS: Internal Revenue Service (IRS) Prompted to Increase Online Payment Agreements
A new report from the Treasury Inspector General for Tax Administration (TIGTA), has found that, while rising numbers of taxpayers are using the internet for their tax arrangements, the United States Internal Revenue Service (IRS) has still missed
See MoreSwitzerland: Rejects some key tax initiatives
The Swiss people rejected some major tax initiatives, which would have had a reflective impact on both the economy and the attractiveness of the Confederation Fair Play would have limited executive pay to several of 12 times the wages of the lowest
See MoreUS hopeful of resolution over issue of Chinese VAT on Shipping
A bilateral consultation was held with China over the impact on international shipping firms of the extension of Chinese value added tax to cover shipping services on August 1, 2013, on the basis of Circular 37/2013. Commissioner William Doyle of
See MoreUS: Moneyed Households Pay over 100 Percent of Income Tax
Based on a report of Distribution of Household Income and Federal Tax for 2010, Congressional Budget Office (CBO) pointed out that the share of taxes paid by higher-income households in the United States significantly exceeded their share of
See MoreUnited States and Malta sign FATCA Bilateral Agreement
The United States and Government of Malta signed an intergovernmental agreement on 16 December 2013 to implement the FATCA provisions that apply to certain financial institutions and funds under U.S. law. The aim of the FATCA agreement is to
See MoreUS: IRS Under Further Pressure Over Erroneous Tax Refunds
Having recently noted that the United States Internal Revenue Service's (IRS) processes can be ineffective in identifying tax returns claiming improper tax credits and fraudulent tax refunds, a further report from the Treasury Inspector General for
See MoreUS Report Examines Distribution of Tax and Spending Policies
A Tax Foundation (TF) paper on the distribution of government tax and spending policies in the United States has noted that they combine to redistribute more than USD2 trillion from the top 40 percent of families to the bottom 60 percent by
See MorePGA Highlights: November 2013
In United States, following events have been occurred under the several PGA during the month of November 2013. Agencies Summary Link Federal Register Fresh Beans, Shelled or in Pods Importation from Jordan into the Continental United States: A
See MoreUnited States: ADD/CVD Roundup for November 2013
Following table shows the Federal Register notices related to ADD/CVD cases for November 2013 in United States. Country Product Investigations Case Number Links China (PRC) Silica Bricks and Shapes Final Determination of Sales at
See MoreFrance and the US signed FATCA Intergovernmental Agreement
On 14 November 2013, the US and France signed an Intergovernmental Agreement (IGA), in order to improve international tax compliance and to implement the US Foreign Account Tax Compliance Act. The FATCA legislation aims to ensure that US citizens
See MoreUS: FATCA reporting – Draft Version of Form 1042-S
On 4 November 2013, the Internal Revenue Service has released new draft instructions for the 2014 Form 1042-S, Foreign Person's U.S. Source Income Subject to Withholding. The new draft version has been adapted to reflect new requirements under the
See MoreUS: District of Columbia Introduces Prepaid Card Option For Tax Refunds
The District of Columbia Office of Tax and Revenue (OTR) has announced a new option taxpayers can choose to receive their local income tax refunds. Beginning next year, a prepaid card will be available as an alternative to paper checks and direct
See MoreUS Bill Introduced To Simplify Mobile Workers’ Taxation
United States businesses have welcomed the introduction into the Senate of a bill, the Mobile Workforce State Income Tax Simplification Act, which would simplify tax reporting requirements for those workers who are employed in multiple state
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