Saturday, October 25, 2014

BNA INSIGHTS: IRS Releases 388 Pages of Foreign Account Tax Compliance Act Regulations

April 16, 2012 in Banking Report · Leave a Comment 

There is a popular offensive technique in ice hockey known as the “jam”; in a jam, the offensive team players use their driving force all together to push the defense into a useless stance that will give any number of the attacking team players an advantage over the goalie.

Government Issues Sweeping Guidance for Foreign Banks under Foreign Account Tax Compliance Act

February 15, 2012 in Banking Report · Leave a Comment 

Banks in foreign jurisdictions and the U.S. received sweeping guidance on the next major phase of implementation of the Foreign Account Tax Compliance Act, in nearly 400 pages of eagerly awaited rules that practitioners said show positive responses to industry concerns…

BNA INSIGHTS: IRS Offshore Accounts Disclosure Program: A Critical Assessment After One Year

October 5, 2010 in Banking Report · Leave a Comment 

Exactly one year ago, the tax world watched as the Internal Revenue Service conducted what may have been the most extraordinarily…

New Kind of Rulewriting Foreseen as Reform Focus Shifts to Implementation

August 3, 2010 in Banking Report · Leave a Comment 

A different kind of rulewriting process may be in store as federal regulators gear up to implement the Dodd-Frank Wall Street Reform and Consumer Protection Act…

BNA INSIGHTS: President Obama’s 2011 Budget Would Change the Landscape of U.S. Savings Policy

June 15, 2010 in Banking Report · Leave a Comment 

Increasing savings and promoting retirement security are two long-standing goals of federal policy; an array of policies and programs exist to help…

BNA INSIGHTS: President’s 2011 Budget Would Change the Landscape of U.S. Savings Policy

June 11, 2010 in Daily Tax Report · Leave a Comment 

Increasing savings and promoting retirement security are two long-standing goals of federal policy; an array of policies and programs exist to help households achieve those ends…

Newly Codified Economic Substance Doctrine Could Mean More IRS Challenges, Practitioners Say

May 26, 2010 in Daily Tax Report · Leave a Comment 

The newly codified economic substance doctrine may clear the way for Internal Revenue Service challenges to a broader range of transactions than before, tax practitioners said May 20…

Tax-Writing Committee Chairmen Confident Carried Interest Treatment Change Can Pass Both Houses

May 20, 2010 in Daily Tax Report · Leave a Comment 

The chairmen of both of Congress’s tax-writing committees said May 19 that negotiations over the annual tax extenders package have progressed to a point where they see that a change in the tax treatment of…

Estate Tax Deal Crumbles as Democrats Balk at Tax Decreases for Wealthy Taxpayers

May 19, 2010 in Daily Tax Report · Leave a Comment 

Senate negotiators said May 18 that a deal to cut estate taxes is on the verge of collapse after a majority of the Democratic caucus expressed concerns about voting for an expensive tax cut for wealthy families…

Treasury Official Solicits Comments for Economic Substance Guidance Project

May 18, 2010 in Daily Tax Report · Leave a Comment 

CHICAGO—A senior Treasury Department official said May 14 the administration is aware of emerging concerns over the application of the economic substance doctrine that was codified under the new health care reform law…

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