Tax News & Views - July 27, 2012
Vol. 13, No. 30
Tax Policy Group, Deloitte Tax LLP
- Middle-class tax cut extension clears Senate – Senate Democrats and Republicans formalized their respective positions on individual tax rates as the chamber approved a proposal sponsored by Majority Leader Harry Reid, D-Nev., that would extend for one year the expiring Bush-era tax cuts for low- and middle-income taxpayers and rejected a Republican alternative that would extend current-law rates for taxpayers across all income levels.
- Treasury issues first model intergovernmental FATCA agreements – In an effort to boost cooperation in countering offshore tax evasion and improve global tax compliance, the United States in conjunction with France, Germany, Italy, Spain, and the United Kingdom released a “Model Intergovernmental Agreement to Improve Tax Compliance and Implement FATCA.”
- Legislative outlook – Here’s a quick look at events taking shape for the coming week.
See attached file for details.
Visit the Tax News & Views archive for editions from the past year.