Ron Wyden, Senate Finance Committee chairman, has released a tax extenders Bill. Business lobbyists will be delighted that extender provisions (various tax breaks that expired at the end of last year) are receiving attention sooner rather than later, while House Republicans may view this as a blow to their hopes for comprehensive action on tax reform.
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The new guidance is not meant to reflect a substantial change to UK law, but the requirement that tax advice is ‘likely to be correct’ imposes unrealistic expectations
China and a clutch of EU nations have voiced dissent after Estonia shot down the US side-by-side deal; in other news, HMRC has awarded companies contracts to help close the tax gap