The US' Internal Revenue Service (IRS) released its guidance priority list with 276 items for 2004-2005 in July 2004. Nicholas DeNovio, deputy chief counsel (technical) at the IRS, is responsible for overseeing this programme in collaboration with the Office of Tax Policy (OTP). DeNovio outlined the international priorities within the busy guidance programme to Sed Crest.
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The EU has seemingly capitulated to the US’s ‘side-by-side’ demands. This may be a win for the US, but the uncertainty has only just begun for pillar two
ITR’s most prolific stories of the year charted public pillar two spats, the continued fallout from the PwC Australia tax leaks scandal, and a headline tax fraud trial
The climbdowns pave the way for a side-by-side deal to be concluded this week, as per the US Treasury secretary’s expectation; in other news, Taft added a 10-partner tax team