Recently in Tax Category

The IRS really wants to help businesses comply with tax laws regarding employee cell phones, so the agency has issued a new proposal that would have employers assign 25% of the cost of an employee's cell phone as taxable benefit.

This represents a shift to stricter enforcement of a rule that treats cell phones as a benefit to the employee, rather than an instrument of the employee's work.

The technology industry is up in arms over President Barack Obama's plans to roll back some of the tax protections for companies that enjoy the benefit of lower tax rates on profits earned outside the United States.

Tech giants Hewlett-Packard Co., IBM Corp., Cisco Systems Inc., Microsoft Corp. and Google Inc. each saved more than $1 billion through lower foreign tax rates last year, for a total tax benefit of $7.4 billion.