[ad_1] Since the early ‘90s, Apple has used the country of Ireland to give itself a substantial discount on its tax burden. The company’s relationship with Ireland began in 1981 when Apple opened a manufacturing plant in Holyhill on the outskirts of Cork. The deal gave Apple access to the highest levels of power in […]
Category: tax
UK to levy additional tax on big tech companies beginning April 1st
[ad_1] The UK first announced the “digital services tax” in 2018, and after a couple rounds of review, it’s ready to be enacted. The new legislation will levy a two-percent tax on the revenue from search engines, social media services and online marketplaces that derive value from UK users. It will only apply when companies […]
TurboTax maker Intuit buys Credit Karma to corner personal financial data
[ad_1] Credit Karma will run as a stand-alone outfit, with existing CEO Kenneth Lin still in charge. Intuit expects the acquisition to close in the second half of 2020 if it clears the regulatory process. The deal makes sense for Intuit. While it has the budgeting site Mint under its wing, it doesn’t have a […]
The IRS won’t ask you to report ‘Fortnite’ V-Bucks on tax returns
[ad_1] The tax forms won’t clarify matters, though. Schedule 1 in Form 1040 asks taxpayers if they have “any financial interest in any virtual currency” without a definition or an indication of what to do next. While many will check with the IRS for a clarification or simply assume the tax bureau is referring to […]
Tax prep companies can’t hide their free filing software from Google anymore
[ad_1] This week, the Internal Revenue Service (IRS) announced changes that will hopefully make it less stressful for a lot of Americans to file their taxes in 2020. In an addendum to the almost 20-year-old Free File agreement, the agency has put new protec… [ad_2] Source link
Tax prep companies can’t hide their free filing software from Google anymore
[ad_1] Moving forward, the addendum prohibits TurboTax maker Intuit and the other nine companies that make up the Free File Alliance from “engaging in any practice” that would prevent their free software from showing up on Google or any other search engine. Additionally, all 10 companies must now stick to a standardized naming scheme so […]
Uber has to pay New Jersey nearly $650 million in employment taxes
[ad_1] New Jersey gave Uber a $54 million bill back in 2015, but it’s not certain if the company ever paid that. Not surprisingly, Uber is contesting the bill. It told Engadget it was “challenging this preliminary but incorrect determination,” insisting that drivers are “independent contractors.” The company believes the bill overestimate its business in […]
G20 leaders will discuss raising taxes for big tech firms next week
[ad_1] The finance ministers are scheduled to meet in Washington, where they’ll review proposals by the Paris-based Organization for Economic Cooperation and Development (OECD) — the group tasked with overhauling tax rules that date back to the 1920s. The new rules may create a corporate income tax of a few percentage points, which could make […]
G20 countries agree to close tax loopholes for tech companies
[ad_1] A final report on the plans would be available by 2020, according to the draft. The challenge, as you might imagine, would be obtaining a consensus from a large group includes countries like China, India and South Africa in addition to G8 mainstays like the US, UK and Russia. The US in particular has […]