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IBA president: OECD’s two-pillar solution is ‘crucial’

by usoftax_admin | May 8, 2025 | Tax News

Jaime Carey speaks about the benefits of his tax background, DEI values, the use of AI for a smarter legal practice, and other priorities that will define his presidency

PwC to lay off ‘about 1,500 employees’ in US: report

by usoftax_admin | May 8, 2025 | Tax News

Historically low levels of attrition over consecutive years made a ‘difficult decision’ necessary, PwC has reportedly said

Bessent Defends Cuts To Community Fund Amid Scrutiny

by usoftax_admin | May 7, 2025 | Tax News

U.S. Treasury Secretary Scott Bessent on Wednesday defended the Trump administration’s proposal to significantly slash the fund that operates the new markets tax credit, which is meant to boost investment in poor communities, telling lawmakers that a new $100...

Favorable Tax Cut Baseline Won’t Fool Lenders, House Told

by usoftax_admin | May 7, 2025 | Tax News

If Congress uses a current policy baseline to permanently extend the 2017 tax overhaul’s provisions, it will be a red flag to institutional investors, such as hedge funds, mutual funds and endowments, panelists told the House Budget Committee on Wednesday.

China Economic Official To Ask US For U-Turn On Tariffs

by usoftax_admin | May 7, 2025 | Tax News

China’s top economic official will ask the U.S. to reverse course on its tariffs while meeting with Treasury Secretary Scott Bessent and U.S. Trade Representative Jamieson Greer this weekend in Switzerland, China’s Ministry of Commerce said...

Woman Settles FBAR Case Over Russian, French Accounts

by usoftax_admin | May 7, 2025 | Tax News

A Rhode Island woman has resolved a case by the government alleging that she failed to disclose her Russian and French bank accounts, agreeing to a penalty of almost $89,000 plus interest and late payment penalties.
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