USA econovical news

IRS Opens US Compliance Assurance Program To Applicants

On June 14, 2019, the US Internal Revenue Service announced that it is looking for new applicants for the Compliance Assurance Process (CAP), a cooperative compliance program aimed at publicly traded corporate taxpayers.

Democrats Ramp Up Pressure on Trump Over Taxes

Committee chair sets a deadline for Trump to turn over his tax returns.

What Is a Tax Haven?

A tax haven is typically a foreign country that charges low or minimal taxes.

What to Know About Your Investment Tax Forms

Investors can expect to get 1099 and 5498 tax forms, and they may come with a couple surprises.

New Accounting Rules From FASB Deal With Mergers

The Financial Accounting Standards Board (FASB) on February 14, 2019, issued a proposed Accounting Standards Update (ASU) on the recognition and measurement of deferred revenue in business combinations.

Average 2019 Tax Refunds Down Nearly 17 Percent

As tax season continues, the IRS is still reporting smaller refunds.

FASB Seeks To Ease Transition To New Credit Losses Standard

On February 6, 2019, the Financial Accounting Standards Board (FASB) issued a proposed Accounting Standards Update (ASU) that would ease transition to the credit losses standard by providing the option to measure certain types of assets at fair value. Stakeholders are asked to review and provide comments on the proposal by March 8, 2019.

6 Small Business Tax Deductions

Don't overlook these common small business tax breaks.

Two Paths on Taxes

While Elizabeth Warren is proposing a tax hike for the wealthiest Americans, Kamala Harris wants a tax cut for some of the poorest.

Mexico Enacts Decree For Tax Cuts In Border States

Mexican President Andres Manuel Lopez Obrador has signed a decree providing for tax cuts in the Mexican states bordering the United States.

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