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Treasury Department Archive

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

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

The Tax Justice Network April 2021 Spanish language podcast, Justicia ImPositiva: Biden, FMI y paraisos fiscales #58

TweetShareSharePin0 Shares Welcome to our Spanish language podcast and radio programme with Marcelo Justo and Marta Nuñez, free to download and broadcast on radio networks across Latin America and Spain. ¡Bienvenidos y bienvenidas a nuestro podcast y programa radiofónico! Escuche por su app de podcast favorita. En este programa: Las elecciones en Ecuador y el debate

$300bn in new tax revenues? Weighing the US intervention in global tax reform

TweetShareSharePin0 Shares The Biden administration has continued its charge to drive through international corporate tax reforms. Yesterday we evaluated Treasury Secretary Yellen’s call for an end to the race to the bottom. At the same time, the Biden administration released its ‘Made in America tax plan’, and the headlines of its international proposals were more

US Tax Season Begins

TweetShareSharePin0 Shares by Mike Godfrey, Tax-News.com, Washington 22 February 2021 The Internal Revenue Service launched tax season for individuals on February 15, 2021, highlighting the various supports available for taxpayers when preparing their returns. Taxpayers have until Thursday, April 15, 2021, to file their 2020 tax return and pay any tax owed. The IRS

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