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McKernan Out As Trump’s CFPB Pick, In For Treasury Role

by usoftax_admin | May 9, 2025 | Tax News

President Donald Trump will pull Jonathan McKernan’s nomination to run the Consumer Financial Protection Bureau and tap him instead for a top domestic finance job at the U.S. Treasury Department, a White House official confirmed to Law360 on Friday.

IRS To Loosen Tax-Free Spinoff Regs, Cut Ordinary Biz Rule

by usoftax_admin | May 9, 2025 | Tax News

The Internal Revenue Service plans to loosen proposed regulations for corporate separation transactions, known as spinoffs, that the agency approves as tax-free ahead of time, in part by eliminating a standard considering whether actions are taken in the ordinary...

Family Denies Knowledge Of $81M Tax Avoidance Scheme

by usoftax_admin | May 9, 2025 | Tax News

The government’s claims that members of a deceased theater businessman’s family knew or should have known their company stock sale was part of an $81 million purported tax avoidance scheme are baseless, the family members said in a filing in New York...

Global tax equity: confronting base erosion in the digital economy

by usoftax_admin | May 9, 2025 | Tax News

Countries which care about fair taxation of tech multinationals and equitable global distribution of wealth should back the UN’s tax framework, writes economist Abdelmalek Riad

This week in tax: IRS has lost 11% of its workforce, report finds

by usoftax_admin | May 9, 2025 | Tax News

The cuts disproportionately affected staff in certain positions, the report also found; in other news, MHA announced the €24m acquisition of Baker Tilly South East Europe
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