International | AccountingWEB.com

IRS Casts Bait to Reel in Taxpayers with Offshore Accounts

02/07/2012 - 14:54 - 584 reads

The IRS has reopened its Offshore Voluntary Disclosure Program (OVDP). Similar programs were initiated in 2011 and 2009, from which the IRS has collected more than $4.4 billion. The OVDP is aimed at encouraging taxpayers who have stashed assets offshore to declare their outstanding tax liabilities.

IASB Chairman Expects SEC to Approve IFRS

01/30/2012 - 15:22 - 654 reads

Speaking at a seminar in Moscow on IFRS, Hans Hoogervorst, Chairman of the IASB, said that he expected the IASB and the FASB to make progress on their remaining convergence projects in the coming year. Hoogervorst also predicted that the SEC would eventually approve IFRS for US companies.

ASG Vaults to Ninth Spot of All-Time Lenders on Kiva Site

01/18/2012 - 12:22 - 744 reads

The Kiva lending team, Accountants for Social Good (ASG), moved into the ninth spot of all-time lenders. Since its inception in May 2011, the team has seen explosive growth, both in the number of team members (eighty) and in the total amount of capital the team has loaned to the developing world ($70,500).

IRS Commissioner Talks about International Tax Cheats

12/20/2011 - 14:19 - 2385 reads

On December 15, before an audience at the IRS/George Washington University Twenty-Fourth Annual Institute on Current Issues in International Taxation, IRS Commissioner, Douglas Shulman, talked about tax cheats in the international arena and how the IRS is "turning up the pressure."

Loans that change lives

08/05/2011 - 15:26 - 1684 reads

Accountants for Social Good (ASG) is a new charitable group created to unite accountants, CPAs, and other financial professionals to help those in need.

California tax amnesty program opens August 1

07/14/2011 - 01:26 - 2059 reads

Taxpayers who have underreported their California income tax liabilities through the use of abusive tax avoidance transactions or offshore financial arrangements will be permitted to obtain a waiver of most penalties under an amnesty program beginning in August.

Taxpayers must report certain foreign bank and financial accounts to Treasury by June 30

06/27/2011 - 16:29 - 2381 reads

All taxpayers with foreign bank or other financial accounts, or with signature authority over such accounts, may be required to submit an FBAR form by June 30.

IRS extends FBAR filing deadline for certain individuals

06/02/2011 - 00:24 - 2987 reads

The Internal Revenue Service and the Financial Crimes Enforcement Network (FinCEN) have announced that a small subset of individuals with only signature authority required to file the Report of Foreign Bank and Financial Accounts (FBARs) will receive a one-year extension beyond the upcoming filing date of June 30, 2011.

Survey results: Heightened call for transparency is biggest challenge for multinationals

05/10/2011 - 12:11 - 1925 reads

A majority of multinational company tax executives predict that a broadened international regulatory focus on increased transparency will be the most significant change their company can expect in international taxation over the next year.

Globalsym: International accounting students lock business horns in this fierce competition

04/07/2011 - 10:42 - 2975 reads

It's not often you find a heated contest between Texans and… the Irish. No, it's not sports, dancing celebrities, a weight-loss challenge, or politics. This competition involves bean counting and business know-how.