US tax collection agency Internal Revenue Service is investigating
PricewaterhouseCoopers over possible violations of reporting its own taxes,
according to reports.
The agency is looking into the timing of tax deductions and how it switched
profits between different international units and its pension plan, reported
PwC tax partner Samuel Starr sent a letter to the firm’s US partners earlier
in the year that the review should be completed by the end of 2006.
A PwC spokesman said that firm was liable to IRS audits ‘like any large
entity’. An IRS spokesman told the news agency that federal audits were
HMRC breaches client confidentiality; and partner profits fall at EY. These stories and more discussed in Friday Afternoon Live
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The UK tax gap fell in 2014-15 to its lowest-ever level of 6.5%, revealed official statistics published today
"The whole idea of HMRC officials supplying confidential information about individuals to the media on a non-attributable basis is, or should be, a matter of serious concern," say Supreme Court judges