aallenlenth Archive

Oversight, Disbursements, and Compromises | Tax Policy Center

TweetShareSharePin0 Shares Treasury announces oversight office for COVID-19 relief programs… Jacob Leibenluft will lead Treasury’s Office of Recovery Programs that will oversee the many COVID-19 relief programs Congress has approved in recent months. Deputy Secretary Wally Adeyemo says “A new, cohesive model for recovery program implementation at Treasury will help get relief distributed quickly and

Inventory Valuation | LIFO vs FIFO vs Weighted Average Cost

TweetShareSharePin0 Shares As with capital investment, businesses cannot immediately deduct the full cost of inventory purchases against taxable income. Instead, the cost of inventories is deducted when sold. The deduction amount depends on the inventory valuation method. Today’s map shows which of the three main inventory valuation methods European OECD countries require their businesses to

US IRS Reminds Of FBAR Filing Obligation

TweetShareSharePin0 Shares by Mike Godfrey,, Washington 15 April 2021 The Internal Revenue Service is reminding US citizens, resident aliens, and any domestic legal entity that the deadline to file their annual Report of Foreign Bank and Financial Accounts (FBAR) is still April 15, 2021. The extension of the federal income tax filing due

Yellen Offers Latest Treasury Pillar 1 Proposal

TweetShareSharePin0 Shares For the past two years, the Organisation for Economic Co-operation and Development (OECD) has been debating how to change the tax treatment of large multinationals so that countries can tax corporate profits not just where their headquarters, employees, and assets are but also where a company’s customers are located. The implications of such
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