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Tax Deadlines Postponed For Ga. Hurricane Victims

by usoftax_admin | Sep 13, 2023 | Tax News

The Internal Revenue Service said Wednesday that it will postpone various tax deadlines for Georgia taxpayers affected by Hurricane Idalia.

Portugal: the unshell directive proposal and the quest for economic substance

by usoftax_admin | Sep 13, 2023 | Tax News

Francisco Cabral Matos and Guilherme Lourenço Baptista of VdA outline Portugal’s efforts to demystify the concept of economic substance for tax purposes.

Navigating the tax implications of working remotely in Thailand

by usoftax_admin | Sep 13, 2023 | Tax News

Paul Ashburn and Anna Selina De Vera of HLB Thailand say new tax legislation may be needed for Thailand to cement its attractiveness as a remote working base and build on the long-term resident visa scheme.

Repatriation Tax Case May Muddle State Tax Filings, Atty Says

by usoftax_admin | Sep 12, 2023 | Tax News

States may still be able to impose taxes on unrealized income if the U.S. Supreme Court finds the federal repatriation tax unconstitutional, but they would face administrative difficulties in determining how tax bases should be calculated, a tax practitioner said...

Tax Court Rightly Barred Penalty Challenge, US Tells 2nd Circ.

by usoftax_admin | Sep 12, 2023 | Tax News

Six companies that collectively owed more than $380 million in tax liabilities stemming from their participation in a tax avoidance scheme should not be allowed to challenge whether penalties were properly approved after judgments were entered, the U.S. told the...

IRS Official Expects Foreign Tax Credit Guidance By Year-End

by usoftax_admin | Sep 12, 2023 | Tax News

The IRS anticipates extending relief from existing foreign tax credit regulations by the end of the year, which would coincide with the release of separate foreign tax credit guidance under an international minimum tax agreement, an agency official said Tuesday.
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