OECD Released Peer Reviews of Country-by-Country Reporting Initiative: The Organisation for Economic Co-operation and Development (OECD) has released the first peer reviews of the BEPS Action 13 Country-by-Country reporting initiative, demonstrating strong progress toward the imminent implementation of a key element in continuing efforts to improve taxation of multinational enterprises (MNEs) worldwide. The peer reviews show that practically all countries that serve as headquarters to the large MNEs covered by the initiative have introduced new reporting obligations compliant with transparency requirements.

IRS Warns Practitioners About Phishing Scam: Today the IRS warned tax practitioner to beware of phishing e-mails posing as state accounting and professional associations. In a news release, the IRS indicated that it had received reports from tax professionals who received fake e-mails that were trying to trick them into disclosing their e-mail usernames and passwords. Tax practitioners who receive suspicious emails related to taxes or the IRS, or phishing attempts to gain access to practitioner databases, should forward those emails to [email protected].

IRS Urges Two-Income Families to Complete a 'Paycheck Checkup': The IRS is urging two-income families and those who work multiple jobs to complete a “paycheck checkup” using the IRS Withholding Calculator to verify they are having the right amount of tax withheld from their paychecks.