International Taxes

Republican says Speaker Boehner wants to hold votes on trade deals with South Korea, Panama and Colombia in quick succession.

Senior White House adviser Valerie Jarrett told an audience at the Brookings Institution Wednesday that the first administration legislative priority in this Congress will be passage of the U.S.-South Korea free trade agreement which the Obama administration renegotiated in December. She also outlined other areas of compromise with the GOP and did not reject Republican plans for deep spending cuts outright.

The agreement will set up a bruising battle within the Democratic Party between Obama and liberals. 

The numbers of those filing reports regarding foreign accounts has increased each year between 2004 and 2009.

Business and labor groups have voiced disappointment and praise over the news that U.S. and South Korea trade negotiators failed to reach a deal Wednesday night in Seoul.

U.S. Chamber of Commerce President Tom Donohue said he was disappointed but urged both sides to direct their ministers and staff to resolve the remaining issues with speed and urgency.

He warned U.S. companies would lose out to competitors in Europe because of the South Korea-European Union trade deal.

Obama asks his negotiators to keep trying after they can't resolve differences by summit deadline.

On the eve of the G-20 summit in Seoul, President Obama pressured China to help level global economic imbalances.

The Chrysler Group LLC has joined the Ford Motor Co. in publicly opposing a trade deal with South Korea.

U.S. and South Korean trade negotiators on Tuesday entered another day of talks on the controversial agreement ahead of a visit to South Korea by President Obama that begins on Monday.

The two auto companies oppose the deal because they said it would allow greater access to the U.S. market for South Korean auto products without doing enough to open the Korean market. South Korea enjoys a heavy trade advantage over the U.S. in automobiles. 

Senate Finance Chairman Max Baucus (D-Mont.) on Tuesday called for new tools to help the IRS fight complex tax-evasion schemes. 

Groups argue allowing companies to “repatriate” money earned abroad at a lower tax rate could spur the economy.