A legislative proposal that would empower the IRS to assign Employee Identification Numbers to all American corporations is drawing congressional support, U.S. officials said Tuesday.
A plan to require member-states of the European Union to automatically exchange tax-related data in an effort to boost government revenues is likely to face political and logistical challenges.
The U.S. Treasury Department Thursday finalized rules for a controversial law intended to pressure foreign banks to name their American clients, and disclosed a related bilateral agreement with Norway.
The U.S. Treasury Department will publish final rules this week on an anti-tax evasion law intended to compel foreign banks to disclose data on their high-value American clients, say sources.
Financial institutions concerned about a looming Foreign Account Tax Compliance Act implementation date can breathe easier, at least for another year, under a new U.S. Treasury Department timetable.
Critics of a U.S. Treasury Department plan to strengthen beneficial ownership reporting by financial institutions aired their concerns to Obama administration officials at a rare public hearing Tuesday.
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