A case testing the boundaries of legal challenges to Treasury rules has reached the Supreme Court after it bitterly divided judges in an appeals court.
The IRS has opened an informal process that may offer relief to companies that, under unique circumstances, pay tax twice on the same repatriated earnings.
They might sound crazy rich to ordinary Americans—and plain old crazy to 0.1 percenters: they’re millionaires who actually want to pay more in taxes.
Read more: The IRS will reimburse companies after a tax law change. Banks are benefiting from the 2017 tax law. A U.S. proposal in a global tax rewrite is complicating negotiations.
The European Union’s trade chief said the race is on to avert an escalation in transatlantic commercial tensions as a result of U.S. objections to a French digital-services tax.
The IRS has recently agreed to share more information with other federal agencies to crack down on tax evasion that can cost the government hundreds of millions of dollars.