Tax Law360 provides breaking news and analysis on federal, state, and international tax law, with a focus on business enterprises. Coverage includes high-stakes litigation, government enforcement actions, and auditing issues, as well as related policy developments.
The United States has ranked 31st among 35 countries in terms of its tax-to-GDP ratio, which measures a nation’s tax revenue as a percentage of its gross domestic product, according to an analysis released by the Organization for Economic Cooperation and Development on Thursday.
A Federal Circuit panel has affirmed a decision to reject a taxpayer’s claims for a refund, as well as her request to remove her ex-husband from her property title, because of a lack of subject matter jurisdiction since she did not file her claims timely and did not first seek administrative review from the IRS.
The Republican tax plan currently making its way through Congress could be a mixed bag for South Florida, according to experts who say the corporate tax cut could boost international investment, while a provision reducing the credit for renovating landmark buildings could hit the area's historic districts hard.
Revenue, Ireland’s tax authority, is employing a host of novel techniques to seek out and track offshore tax evasion, including use of proprietary software and machine-learning technologies to digest data ranging from income returns to social media accounts.
As the work of reforming the federal tax code took a temporary timeout for Thanksgiving, opponents of legislation that would fully or partly eliminate deductions for state and local taxes didn’t let up in their fight, despite increasingly long odds they would succeed in changing lawmakers' minds when they return from their break.