The Internal Revenue Service said it would give U.S. taxpayers an extra day to file their returns electronically after a computer malfunction disrupted the agency’s website.
The Internal Revenue Service and the Treasury Department say the Tax Cuts and Jobs Act will require hiring the equivalent of 1,734 full-time employees over the next two years.
The Internal Revenue Service knocked down one way for hedge fund managers to dodge restrictions in President Donald Trump’s tax law. But for some managers, there’s still a way out.
The Internal Revenue Service and the Treasury Department have issued details about the withholding on the transfer of non-publicly traded partnership interests by foreign persons under the Tax Cuts and Jobs Act, along with guidance on the “transition tax” on the untaxed earnings of overseas subsidiaries of U.S. companies.
The European Union published proposals Wednesday for a 3 percent Digital Turnover Tax on the European B2B revenues of digital giants such as Google, Apple, Facebook, Amazon (termed GAFA in Europe), Uber and Airbnb.
The National Society of Accountants wants the Internal Revenue Service to provide a six-month extension for businesses to opt to be treated as S corporations for this year, arguing the current deadline of March 15 is too soon to make a decision given the uncertainty surrounding the new tax law.