IRS Boss Warns OECD About Corporate Profit Shifting Plan

Law360, New York (June 03, 2014, 7:10 PM ET) — Internal Revenue Service Commissioner John Koskinen said Tuesday that an international plan to squash corporate profit shifting will create headaches for administrators and hurt U.S. taxpayers.

Addressing the Organization for Economic Cooperation and Development, Koskinen said the plan would create tens of thousands of information requests for tax administrators in the U.S. alone and should instead be included in the automatic information exchanges already being established.

“I urge that your policy and legal determinations not be made without thoroughly considering the practical implications of these decisions,…