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USA - January 3 2013
On January 1, 2013, the House and Senate approved the American Taxpayer Relief Act of 2012 (H.R. 8, as amended by the Senate) (the "2012 Tax Relief Act")…
USA - May 31 2012
On April 17, 2012, the Internal Revenue Service (“IRS”) issued final regulations (T.D. 9584) (the “Final Regulations”) under Section 6049 of the Internal Revenue Code of 1986, outlining new rules requiring U.S. financial institutions (“Payors”) to report interest paid on deposits maintained at U.S. offices of certain financial institutions to nonresident alien individuals (“NRAs”) of $10 or more per year after January 1, 2013.
USA - October 6 2011
In a news release dated September 21, 2011 (IR-2011-95) and Announcement 2011-64, the Internal Revenue Service (the “IRS”) announced a new voluntary classification settlement program (the “VCSP”) as part of its overall “Fresh Start” initiative to get taxpayers into federal tax compliance.
USA - July 12 2011
In March of this year, Governor Brown signed into law Senate Bill 86, which, among other things, authorizes the Franchise Tax Board (“FTB”) to administer a new California voluntary disclosure initiative (the “2011 California Initiative”) for eligible California taxpayers (each, a “Taxpayer”).
USA - April 28 2011
Over the past two years, the California legislature has enacted significant changes in California tax law, including a substantial modification to California's apportionment rules (the "New Apportionment Rules") used to determine California-source business income, for franchise and income tax purposes, of multistate taxpayers doing business in California ("Taxpayers").
