Treasury Department Archive

TweetShareSharePin0 Shares Storms ahead for the President’s climate change initiative. Sen. Joe Manchin of West Virginia has pushed back on a key element of the president’ climate agenda. The Clean Energy Performance Program would reward companies that increase their clean energy supply by 4 percent each year and  penalize those that don’t. That would include

TweetShareSharePin0 Shares The Government of Indonesia has launched an investigation on pricing and customs reporting practices of a pulp mill owned by one of Indonesia’s wealthiest moguls. The investigation follows the launch of the Macao Money Machine report published by Indonesia’s Tax Justice Forum and other civil society groups including Tax Justice Network. The report

TweetShareSharePin0 Shares In recent decades, South Dakota has become one of the world’s great tax havens. By the end of last year, more than $367 billion in trust assets were managed in the state through at least 62 publicly-chartered trusts. The trust companies earn big fees. The trust owners hide their assets and avoid billions

TweetShareSharePin0 Shares Under the House Ways and Means plan to raise taxes on corporations and individuals, the integrated tax rate on corporate income would increase from 47.4 percent to 56.6 percent—the third highest in the OECD. To reduce this burden, policymakers could explore integrating the individual and corporate tax systems. Several developed countries have done

TweetShareSharePin0 Shares Senators Mike Crapo (R-ID) and Chuck Grassley (R-IA) recently asked for an investigation into the Internal Revenue Service’s research activities, including its use of contractors to conduct studies and its  security protocols. The senators are right to be concerned about taxpayer privacy, especially after ProPublica’s recent articles about the tax situations of very

TweetShareSharePin0 Shares Key Findings A typical American household with four cell phones on a “family share” plan, paying $100 per month for taxable wireless service, would pay nearly $300 per year in taxes, fees, and government surcharges—up from $270 in 2020. This year, wireless subscribers will pay approximately $11.3 billion in taxes, fees, and government

TweetShareSharePin0 Shares Supreme Court Rejects FBAR Penalty Case Supreme Court Rejects FBAR Penalty Case Supreme Court Rejects FBAR Penalty Appeal Case: In the past few years, there have been several District Court and Appellate cases involving FBAR penalties. Courts across the nation are split on how FBAR Penalties are applied by the US Government, with