U.S. taxpayers may now claim a "reasonable cause" defense in the event they've been hit with a penalty in connection with a tax matter for which they had "reasonably and in good faith" relied on any IRS-published FAQs (frequently-asked-questions) that has to do with new tax legislation, the IRS has…

A Republican member of the House Ways and Means Committee has introduced legislation that would block the Biden administration's controversial plan to require U.S. banks to report their customers' account information to the Internal Revenue Service annually, citing "strong concerns" about the proposed legislation's possible effects on taxpayers' "privacy, the IRS's ability…

The U.S., which "pressed the rest of the world" to crack down on the type of financial secrecy that enables tax evasion and cross-border illegality, is now "a hypocrite on international financial crime," Bloomberg, the major global media organization based in New York, has said, in an Editorial Board opinion piece…

The Democrats Abroad has announced that it has joined the Residence-Based Taxation Coalition, a lobbying organization launched in January with a single goal: persuading U.S. lawmakers to move the U.S. to a residence-based tax regime, like most of the rest of the world's countries have.