The possibility that frequent flyer and other rewards will soon be taxed has filled the blogosphere. But the rumors are heading down the runway before they've even got clearance. What's the real story from the IRS?
The menu for June 17 features specials on 13 companies that paid no taxes in Q1 of 2014, states offering businesses an abundance of tax credits, ex-Medtronic CEO defending former employer’s tax inversion deal, and more.
The menu for June 13 features specials on House passing more business tax breaks, Eric Cantor defeat may stall offshore tax holiday proposal, protests over Walgreens’ possible reincorporation in Switzerland, and more.
The menu for June 10 features specials on House GOP alleges IRS data dump was illegal, Senate lawmakers squabble over use of repatriated tax holiday, ex-BDO vice chairmen get jail time over tax scheme, and more.
The IRS can hold back tax refunds of taxpayers for up to six months while it examines their tax returns from other years. It can then use the refund to offset the tax liability. And the program may expand further.
The menu for June 6 features specials on Senate tax writers slate summer hearings on tax reform, more larger companies turning to smaller audit firms, Tax Foundation refutes report on corporate taxes, and more.
The menu for June 5 features specials on the SEC extending settlement schedule with Big Four firms in China, a health insurance strategy the IRS may not approve of, Fortune 500 companies’ tax shelters, and more.
The menu for June 4 features specials on Senate tax extenders bill stalled until November, tax-evasion probe targets another Swiss bank, tactic Walmart uses to slash its tax bill, PwC resigns as Annie’s auditor, and more.