Tax Foundation: Rethinking U.S. Taxation of Overseas Operations

By Jonathan Prokup Our in-house and private-practice corporate readers will likely enjoy one of the Tax Foundation's newest reports: Rethinking U.S. Taxation of Overseas Operations. As the abstract describes: The United States produces a third of the world's wealth but contains less than 5 percent of the world's population. This disparity pushes many U.S. businesses … Continue reading Tax Foundation: Rethinking U.S. Taxation of Overseas Operations

International Tax Changes Take Flight

The House of Representatives passed, and the President signed into law, H.R. 1586, the "FAA Air Transportation Modernization and Safety Improvement Act," which curiously became the chosen vehicle for Congress and the Administration to provide assistance to states with budget shortfalls while paying for that assistance with changes in a number of international tax provisions.  … Continue reading International Tax Changes Take Flight

Certain Uncertainty: Congress Juggles Tax Proposals

By Jonathan Prokup Although death and taxes might, according to Benjamin Franklin, be the only certainties in this world, Congress is surely striving to add another - that is, the certainty of uncertainty.  Congress, it seems, is committed to keeping taxpayers in as much doubt as possible for as long as possible about the status … Continue reading Certain Uncertainty: Congress Juggles Tax Proposals

What’s The Big Deal About Foreign Bank Accounts?

By George W. Connelly Anyone paying attention to the media for the last month or so must be aware of the battle the IRS has waged with UBS in order to obtain information about owners of heretofore “secret” accounts in Switzerland.  This is part of an IRS effort to track down tax delinquents who are using … Continue reading What’s The Big Deal About Foreign Bank Accounts?