IRS Responds to Taxpayer Expectations for More Online Services

In response to the ever-increasing number of taxpayers wanting online services, the IRS continues to develop online tools to interact with the taxpayers online, Commissioner John Koskinen said on April 2. Speaking at the National Press Club in Washington, D.C., Koskinen added that adequate funding is critical for

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Tax Implications for Earnings of Foreign Subsidiaries

Under the current U.S. tax rules, non-U.S. earnings are generally not subject to U.S. tax until the earnings are repatriated.   While the U.S. tax system generally taxes income of U.S. taxpayers wherever earned, profits earned from active overseas businesses, as opposed to passive overseas investments, are generally

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Tax Reform Package Proposed is Received with Mixed Reactions

House Ways and Means Committee Chairman Dave Camp, R-Mich., unveiled his long-awaited comprehensive tax reform package on February 26 to mixed reaction. Camp’s proposed Tax Reform Bill of 2014 would reduce the number of individual tax brackets, cut the corporate tax rate, simplify, repeal or curtail many popular

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