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June 2019 Archives

IRS reminds tax professionals to report foreign accounts

The American Bar Association's taxation section recently held their annual meeting. This group of legal professionals from throughout the country met with representatives from the Internal Revenue Service (IRS) to discuss the agency’s focus in coming months. One of the main take away lessons from the meeting: representatives encouraged tax professionals to bring all foreign accounts into compliance with applicable tax law.

Uber faces IRS scrutiny: Could this impact drivers?

The recently public Uber Technologies Inc. is currently under investigation by the Internal Revenue Service (IRS). Bloomberg reports the agency is reviewing two years of the ride sharing company’s tax filings. The company has stated the agency is simply conducting an “examination” in light of its recent initial public offering. Skeptics have voiced concern the investigation is really a deeper look into the company’s tax strategies. For example, its use of “transfer pricing positions.”

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