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US Treasury Working To Extend Pillar 1 DST Compromise

by usoftax_admin | Jul 22, 2024 | Tax News

As OECD-led negotiations continue on a taxing rights overhaul known as Pillar One after a missed June deadline, the U.S. Treasury Department is working to extend the political agreement between it and several countries to nullify their digital services taxes once the...

Pension Plans Slam Biz Docs In $2B Danish Tax Fraud Case

by usoftax_admin | Jul 22, 2024 | Tax News

Denmark’s tax agency has produced experts who are relying on unauthenticated documents in litigation accusing U.S. pension plans of participating in a $2.1 billion fraud scheme, the pension plans claimed in urging a New York federal court to exclude the...

11th Circ. Denies Rehearing On Social Security Garnishment

by usoftax_admin | Jul 22, 2024 | Tax News

The Eleventh Circuit on Monday turned down a Florida woman’s request to reconsider its rejection of her challenge to the Internal Revenue Service’s garnishment of her Social Security payments.

Werfel Wants IRS to Help Eligible EITC Nonclaimaints

by usoftax_admin | Jul 22, 2024 | Tax News

The Internal Revenue Service needs to do more to help people who are eligible for the earned income tax credit but don’t claim it, Daniel Werfel, the agency’s commissioner, said Monday.

India’s pillar two pledge may have limited impact, experts warn

by usoftax_admin | Jul 22, 2024 | Tax News

With corporate tax rates already exceeding 15%, India will need to think creatively to extract additional revenue through new pillar two rules, local partners tell ITR
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