The controversial proposal by the Biden administration to grant the IRS the power to track bank accounts with more than $600 in annual transactions is now being revisited, following pushback by Republicans and banking lobbyists who called the move an invasion of privacy by the...
Kristo Käärmann, CEO and co-founder of money transfer firm Wise, may face sanctions in the U.K. for a tax violation that could see him banned from the industry. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to...
It’s often said that “nothing is certain but death and taxes” – but that quip could also include changes in tax laws, as the revisions in local, state and federal jurisdictions seem never-ending. Get the Full Story Complete the form to unlock this article and...
Treasury Secretary Janet Yellen and IRS commissioner Charles Rettig have been pressuring lawmakers to give the IRS more information on taxpayers’ bank accounts. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no...
The Congressional Budget Office (CBO) says it has concluded its analysis of a proposal by the White House to increase spending on IRS enforcement activity by $80 billion between 2022 and 2031. Get the Full Story Complete the form to unlock this article and enjoy...
In a letter to Sen. Elizabeth Warren (D-Mass.) IRS Commissioner Charles Rettig said requiring banks to provide insight into customers’ transaction history could help the federal government recoup missed taxes, CNBC reported on Thursday (Sept. 2). Get the Full Story Complete the form to unlock...
Volkswagen has joined Tesla in urging Indian officials to lower the import taxes they impose on electric cars, a move that the firm says is motivated by increasing demand for so-called clean vehicles. Get the Full Story Complete the form to unlock this article and...
Intuit is leaving the IRS Free File program after 20 years because of “limitations of the Free File program and conflicting demands for those outside the program,” the company announced in a Thursday (July 15) blog post. Get the Full Story Complete the form to unlock...
The U.S. wants the European Union to think twice before implementing a new digital tax across its 27 members, Bloomberg reported. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins...
