IRS Proposes Regulations With Basis Reporting Rules For Securities

The Internal Revenue Service Dec. 16 proposed highly anticipated regulations (REG-101896-09) under a 2008 law that will require the reporting of basis and other information by mutual fund companies and stock brokers for most stock purchased in 2011 and all stock purchased in 2012 and later years…

EPA Sends Proposals To White House For Carbon Emissions Reporting At Oil, Gas, Sequestration Sites

WASHINGTON, D.C.—The Environmental Protection Agency has prepared two proposed rules that would require greenhouse gas emissions reporting at oil and natural gas facilities and underground carbon dioxide injection and sequestration…

House-Passed Jobs Bill Would Restore U.S.$2 Billion For Clean Energy Loan Guarantees

WASHINGTON, D.C.—Jobs legislation that passed the House of Representatives Dec. 16 would restore $2 billion to a Department of Energy clean energy loan guarantee program and expand the program to include loan guarantees for energy efficiency…

Obama Signs Bill With Some U.S.$2 Billion In Climate Funding

WASHINGTON, D.C.—President Obama signed an omnibus appropriations bill…

White House Backs U.S.$5 Billion In Tax Credits For Clean Energy Investments, Biden Says

WASHINGTON, D.C.—Vice President Joseph Biden announced Dec. 16 the White House’s support for allocating an additional $5 billion to the tax code Section 48C Advanced Energy Manufacturing Tax Credit to promote job creation by providing…

House Easily Passes Measure to Set National Data Security, Data Breach Notification Rules

The House Dec. 8 easily approved a bill that would require businesses to notify individuals if their electronic unencrypted personal information is breached and implement data security programs, including special data security requirements for databrokers…

U.S. Crafting Protocol for Joint Audits With Treaty Partners, Shulman Says

Commissioner of Internal Revenue Douglas Shulman Dec. 10 said the United States is in the early stages of crafting a protocol that would allow it to conduct joint audits with other treaty partners, an effort that he said could include issues that now are worked out by competent authorities…

U.S. officials discuss permanent establishments in tax disputes

U.S. government officials Dec. 10 expressed dedication to a high permanent establishment threshold while revealing stepped-up efforts to find foreign taxpayers who may have created PEs in the United States…

IRS Valuation of VERITAS Cost-Sharing Deal Found to Be Arbitrary

The U.S. Tax Court Dec. 10 issued a 71-page opinion that found the Internal Revenue Service’s determination that a cost-sharing arrangement VERITAS Software Corp. entered into with an Irish subsidiary should have…

Treasury predicts major regulatory effort to implement anti-tax haven measure

Treasury Department officials said Dec. 10 that if the anti-tax haven Foreign Tax Compliance Act (H.R. 3933, S. 1934) is enacted, the government stands ready for a major regulatory effort to put it in place…

« Previous Page — Next Page »