Global Tax Deal Faces Hurdle in U.S.

The Organization for Economic Cooperation and Development (OECD) won support last Friday from 136 out of 140 countries on a global tax overhaul to address how “consumer-facing” digital giants like Apple, Google, Facebook and Twitter are taxed in countries where they have users. The OECD wants to finalize the agreement soon and implement it by… Read more »

U.S., OECD Look to Finalize Global Tax Deal

The Organization for Economic Cooperation and Development (OECD) is hoping to finalize an agreement this month among140 countries on a global tax overhaul to address how “consumer-facing” digital giants like Apple, Google, Facebook and Twitter are taxed in countries where they have users. “I’m quietly optimistic that in time for the G-20 leaders summit at… Read more »

Global Tax Accord on Track for Fall

The Organization for Economic Cooperation and Development (OECD) is close to reaching agreement among nearly 140 countries on a global tax overhaul to address how “consumer-facing” digital giants like Apple, Google, Facebook and Twitter are taxed in countries where they have users. The tentative agreement now has the backing of 134 countries involved in the… Read more »

Wyden Releases Plan to Overhaul International Tax Code

Senate Finance Committee Chairman Ron Wyden (D-OR) released draft legislation to overhaul parts of the U.S. international tax code as part of the $3.5 trillion social spending package currently taking shape in Congress. The tax changes, which Wyden said would ensure “mega-corporations pay their fair share,” would undo key tax breaks from the 2017 GOP… Read more »

Ending ERTC Early Could Overtax IRS, Group Says

A provision in the Senate-passed infrastructure bill to end the employee retention tax credit (ERTC) after September will put strain on an already under-resourced IRS, according to the Professional Managers Association. The bill would end the ERTC on Sept. 30 instead of the current Dec. 31 expiration date, raising an estimated $8.2 billion to help… Read more »