All Internal Revenue Service articles
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News BriefFinCEN annual report: How DOJ, IRS use SARs to aid probes
The Financial Crimes Enforcement Network’s year in review for fiscal year 2022 provides details on how other U.S. agencies use information derived from the millions of suspicious activity reports filed each year to support their enforcement efforts.
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ArticleSwiss Life to pay $77.4M for tax evasion scheme
Swiss Life Holding and three of its subsidiaries entered a deferred prosecution agreement with the Justice Department and will pay $77.4 million for conspiring with U.S. taxpayers to conceal more than $1.4 billion in offshore insurance policies.
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ArticleIRS issues proposed regs on compensation rules under tax reform
Companies have a little more clarity from the Internal Revenue Service about how to interpret provisions under tax reform affecting executive compensation.
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ArticleIRS updates guidance on tax treatment of virtual currencies
As part of a wider effort to assist taxpayers, the Internal Revenue Service has issued two new pieces of guidance for those who engage in transactions involving virtual currency.
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Article
Tax reform puts pressure on foreign earnings assertions
The Tax Cuts and Jobs Act is compelling companies to think hard about long-standing assertions that foreign earnings are indefinitely reinvested abroad.
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ArticleGuidance confirms diminished tax benefits for exec comp
While certain aspects of tax reform remain ambiguous, the provisions around the deductibility of executive compensation awards are becoming clearer.
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Blog
Treasury, IRS issue proposed GILTI rules under tax reform
Treasury and the IRS have issued proposed new regulations on how to calculate global intangible low-taxed income under the Tax Cuts and Jobs Act.
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Blog
Tax reform enthusiasm is waning, BDO poll says
As the true effects of tax reform unfold, enthusiasm is waning in corporate boardrooms, according to a recent poll.
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Blog
Entities plead for tax guidance on depreciation, losses
Nearly 300 companies and associations signed a letter to the U.S. Treasury asking for guidance to edit what they call drafting errors in the Tax Cuts and Jobs Act.
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Blog
IRS, Treasury float rules on foreign earnings under tax reform
The IRS and Treasury have issued proposed regulations on how they envision implementing tax reform rules around repatriation of foreign earnings.
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Article
IRS gives partial guidance on revenue recognition
It’s the tax department’s turn buzz over how to recognize revenue for tax purposes—and with good reason after getting some puzzling guidance from the IRS.
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Blog
IRS issues new guidance on changing revenue method
Now that companies are following new accounting methods to reflect revenue in financial statements, the Internal Revenue Service is offering new guidance on reflecting income in tax filings.
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Article
Global aspects of tax reform prove particularly difficult
Elation morphed into confusion in the first quarter as companies celebrated tax reform, then dug in to figure out what it all means and how to comply.
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Blog
After audit, IRS agrees to revisit Schedule UTP
Encouraged to modify or do away with the filing entirely, the IRS is taking a look at how it might revise Schedule UTP regarding uncertain tax positions.
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Blog
IRS prepares to assess penalties under Obamacare
With Obamacare still intact, the IRS plans to begin assessing penalties on companies that failed to meet their obligation to provide coverage to employees.