Michael Rapoport

The IRS released draft forms for reporting currency gains and losses by companies’ foreign subsidiaries.

The IRS has scheduled a hearing for July 17 on proposed regulations on a new cap for gamblers deducting their wagering losses.

A panel of federal appellate judges were receptive to Coca-Cola Co.'s arguments that the IRS improperly allocated its foreign income in a case that could cost the soft drink company up to $20 billion.

A lot is on the line in Coca-Cola Co.’s big court battle against the IRS. For the company: as much as $20 billion. For the IRS: how much leeway it will have in pursuing multinational companies.

US multinationals are facing a dilemma over their transfer pricing and President Donald Trump’s tariffs, and so far, many companies are responding to it by standing pat.

The Treasury Department and the IRS moved Friday to address concerns that sovereign-wealth funds and other foreign-government investors in the US could be penalized by new regulations on when their US investment income is exempt from US taxation.

Now that the Treasury Department has exempted US companies from requirements to disclose more about their ownership, the agency should take steps to address the resulting “gaps” in ownership information that could enable anonymous shell companies to get away with money laundering, fraud, and other crime, a government watchdog said Friday.

The Treasury Department is “working diligently” on regulations regarding the enhancement of a capital-gains tax break that benefits investors in startups, an official said Saturday.

The Treasury Department and the IRS want public comments on various aspects of the standards under which manufacturing and refining property will be newly eligible for the bonus depreciation tax break on capital spending, a Treasury official said.

The European Commission has approved a French 1.1 billion-euro ($1.3 billion) plan to use tax credits to encourage companies to invest in clean-technology manufacturing capacity.

The European Commission has approved a French 1.1 billion-euro ($1.3 billion) plan to use tax credits to encourage companies to invest in clean-technology manufacturing capacity.