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Biden Administration's FY 2022 Budget and Its Tax Increases for Corporations, Wealthy

By way of background, the budget that the president submits to Congress contains estimates of federal government income and spending for the upcoming fiscal year and also recommends funding levels for the federal government....more

Large Corporations and Wealthy Taxpayers Beware: The Taxman is Coming

Internal Revenue Service (IRS) Commissioner Chuck Rettig on April 13, 2021, told a U.S. Senate panel that the tax gap in the U.S. may total $1 trillion per year. In his view, the increase from prior estimates is due, in part,...more

IRS Audit Campaign Targets Nonresident Alien U.S. Real Estate Activities

In 2017, the IRS Large Business & International Division (LB&I) announced a new audit strategy known as "campaigns" that focused on issue-based rather than entity-based examinations, and focusing on those issues that present...more

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