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Supreme Court upholds US tax on foreign business income

Accounting Today

Supreme Court upheld a 2017 tax on American-owned businesses' foreign profits, rejecting an appeal that could have saved companies hundreds of billions of dollars.

Tax 194
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Supreme Court suggests support for 2017 tax on foreign earnings

Accounting Today

Key justices suggested the tax, which aimed to collect hundreds of billions of dollars on a one-time basis, wasn't fundamentally different from other levies imposed by Congress over the years.

Tax 174
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IRS targets wealthy who haven't filed taxes with non-filer notices

Accounting Today

The Internal Revenue Service has begun sending notices to high-income taxpayers who haven't been filing tax returns since 2017.

Tax 302
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Uber, Lyft agree to $328M in back pay for NY drivers

Accounting Today

Attorney General Letitia James says Uber from 2014 to 2017 improperly deducted sales tax and other fees from driver paychecks that should have been paid by passengers.

Tax 291
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NYC seeks millions from Silicon Valley Bank for taxes

Accounting Today

The city cites corporation business tax "deficiencies" for 2017 through 2021 and is also seeking interest and penalties from the failed bank.

Tax 174
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Billionaire tax rests on a disputed $14,729 refund at the Supreme Court

Accounting Today

The case coming before the court stems from a 2017 tax law provision that aimed to collect hundreds of billions of dollars on earnings accumulated and held overseas by big multinational companies.

Tax 168
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Airbnb to pay €576M to settle Italian tax claim

Accounting Today

billion of rental revenue and claimed that the company owed about €779 million after an audit of the tax years from 2017 to 2021. Italy's finance police had claimed that the company failed to pay taxes on about €3.7

Tax 168