The Internal Revenue Service is focused on closing the tax gap. One way it hopes to do so is by collecting under-withheld employment taxes.

As the Chancellor delivered the 2012 UK Budget today, he referenced Adam Smith's progressive system of taxation. However, despite modest signs of growth in the UK economy, there is very little in the purse for additional measures to assist business.

The UK Tax Authority (HMRC) recently published a statistical study on transfer pricing (TP) trends in relation to the audit process, Advanced Pricing Agreements (APAs), Advanced Thin Cap Agreements (ATCAs) and Mutual Agreement Procedures (MAPs). A look at the results provides a good indication of where HMRC is focusing efforts and what UK businesses need to know about TP audits.

With the pervasiveness of cloud computing, you may have witnessed a state tax assessor acting on an extreme tax position in an effort to apply dated tax concepts to a technological new world. Tax treatment varies from state to state, and some states’ positions make logical sense, while others are difficult to fathom.

Sales and use tax compliance is not a simple process. In the United States, there are over 11,000 taxing authorities with constantly changing sales tax rates and laws.

Since the collapse of Enron, Congress has been ratcheting up laws encouraging insiders to rat out financial wrongdoers and tax cheats by offering substantial mandatory cash bounties for information leading to additional tax collections, penalties or other monetary sanctions.

Executive compensation remains under the microscope of politicians, shareholders and shareholder advisory firms. A major point of contention revolves around benefits provided to executives in connection with a change in control. Surprisingly, these benefits increased during the last few years, driven primarily by the recovery in the stock market.

Section 382 can best be described as an intricate construct that usually numbs the mind with its complexity and often baffles the senses with its result.

Just in time for the holidays, the IRS released new temporary regulations addressing the treatment of expenditures for tangible property.