The U.S. tax code does not allow taxpayers to deduct penalties assessed by the Internal Revenue Service. However, they may ...

The largest transfer pricing controversy has yet to reach Tax Court. Microsoft has disclosed that it is currently engaged in a long-standing transfer pricing dispute with the IRS over $28.9 billion of ...

To close, it truly bothers me how severe the widow’s penalty is. Jill was penalized $30,000 per year ($24,000 from the loss of income and $6,000 from the increased tax bill). This is something ...