The Internal Revenue Service and the Treasury Department released their final regulations on two major international tax provisions, the Foreign Tax Credit and the Base Erosion and Anti-abuse Tax (BEAT), which was included as part of the Tax Cuts and Jobs Act. | IRS and Treasury issue final rules on Foreign Tax Credit and BEAT | | By Michael Cohn 4 min read | | The Internal Revenue Service and the Treasury Department released their final regulations on two major international tax provisions, the Foreign Tax Credit and the Base Erosion and Anti-abuse Tax (BEAT), which was included as part of the Tax Cuts and Jobs Act. | |
| Bloomberg says he should pay more taxes but opposes wealth levy | | By Mark Niquette 2 min read | | Democratic presidential candidate Michael Bloomberg pledged to support “taxing wealthy people like me” but dismissed a wealth levy tried in other countries and supported by rivals including Elizabeth Warren and Bernie Sanders because “it just doesn’t work.” | |
| In the blogs: The hot seat | | By Jeff Stimpson 3 min read | | Tech trends; one cost of cutting ID theft; prime states for Wayfair challenges; and other highlights from our favorite tax bloggers. | |
| SPONSOR CONTENT | | State of Audit 2020 | | Join this seminar to be up-to-date on the latest in audit developments that will affect you the most in 2020. | |
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