The IRS on Thursday released a long-awaited blueprint on how it will spend the nearly $80 billion it got in last year’s tax and climate law, with Commissioner Danny Werfel strengthening the agency’s vow to not increase audit rates for households making under $400,000.

The IRS plans to spend more than half of its $80 billion in new funding to crack down on big companies and wealthy taxpayers who it says aren’t paying what they owe.

Two Microsoft Corp. units paid more than $3 billion in Irish corporation tax last year, company filings show.

A multistate effort examining the tax treatment of digital goods could drill into new themes, including differences between current state models, potential conflicts with the federal Internet Tax Freedom Act, and impacts on business-to-business transactions.

UK tax and accounting groups are recommending a series of steps for the government to take to simplify the tax system after it closed the department responsible for the task.

The debate around Constellation Energy’s Nine Mile Point Nuclear Station highlights the tension—and legal liability—for the Biden administration as it works on guidance for the clean hydrogen production tax credit.

The Australian government released draft legislation Thursday for multinational companies to publicly report their tax information on a country‑by‑country basis and include a statement on their approach to tax.

The landscape of communities eligible for a 10% bonus tax credit for clean energy projects could change depending on the economic outlook each year. It leaves some in the clean energy industry worried if projects in the works will make the cut.

The debate around Constellation Energy’s Nine Mile Point Nuclear Station highlights the tension—and legal liability—for the Biden administration as it works on guidance for the clean hydrogen production tax credit.