USA econovical news

Kazakhstan Signs FATCA Agreement with US

Kazakhstan and the United States have signed a Model 1 FATCA Intergovernmental Agreement (IGA), which will enable the automatic exchange of financial information on each country's resident taxpayers to support tax enforcement efforts.

US Bill Would Limit IRS Asset Seizures

The National Taxpayers Union (NTU) has called on US lawmakers to support legislation to protect small businesses from "abusive" actions by the Internal Revenue Service (IRS).

S Korea Rejects US Calls For FTA Renegotiation

South Korea and the United States have failed to reach agreement on the way forward with regard to their existing free trade deal, which US President Donald Trump has criticized and vowed to amend

First Round Of NAFTA Renegotiation Talks Concludes

Canada, Mexico, and the US have released a trilateral statement on the first round of NAFTA renegotiation talks, which they said covered more than two dozen different topics.

Creating US Territorial Tax System Complex, Tax Foundation Says

With a move to a territorial tax system a key Republican proposal for tax reform, the Tax Foundation has warned that lawmakers need to carefully consider how such a system would work for the United States.

Trump Tax Plan Could Cost USD7.8 Trillion In A Decade

The Tax Policy Center (TPC) has released new research that estimates that the Trump Administration's plan for tax reform could reduce federal revenues by as much as USD7.8 trillion over the next decade.

IMF Chimes In On US Tax Reform Plans

The US corporate income tax should be replaced with a rent tax (either a cashflow tax or an allowance for corporate capital tax) with a somewhat lower marginal rate, the International Monetary Fund has said.

Switzerland Consults On Customs Cooperation With US

The Swiss Federal Council has launched a consultation on a proposed administrative assistance agreement with the US that would promote greater customs cooperation.

Address On Federal Return Creates State Income Tax Problem

People can be unpleasantly surprised when they find themselves hit with income tax by a state in which they were neither working nor living in the year in question. One of the reasons that happens is because of a concept called domicile. In today's mobile world, I think it may be an outdated concept, but you have to contend with Reilly's First Law of Tax Planning - " It is what it is. Deal with it ."

US 2018 Budget Says Tax Reform To Be Deficit-Neutral

The Trump Administration's first full budget reaffirms the tax reform proposals put forward by the President's team last month and indicates that a reform package will be deficit-neutral.

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