France, U.K. offer to limit digital tax after U.S. threat

Italy and Spain also offered to limit the scope of a proposed global digital tax, a concession after the U.S. threatened to hit countries with tariffs if they moved ahead with levies on tech companies. Original Article Posted at : https://www.accountingtoday.com/articles/france-u-k-offer-to-limit-digital-tax-after-u-s-threat

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IRS wasting millions on audits with no results, watchdog says

The Internal Revenue Service wasted $22.7 million auditing tax returns that resulted in no additional revenue for the federal government, according to an agency watchdog. Original Article Posted at : https://www.accountingtoday.com/articles/irs-wasting-millions-on-audits-with-no-results-watchdog-says

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GAO Report Reveals Need to Simplify Next Round of Rebates

The Government Accountability Office (GAO) recently released a report revealing that almost a half-million taxpayers missed their total rebate payment due to complications over disbursing funds to non-filers with eligible dependents. Taxpayers who do not regularly file tax returns—usually those who do not owe tax because they earn lower incomes or who receive federal disbursements…

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Tax Fraud Blotter: Contemptuous

Bug in the system, again; the category is fraudster; pit stop; and other highlights of recent tax cases. Original Article Posted at : https://www.accountingtoday.com/news/tax-fraud-blotter-contemptuous

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