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Cloud Computing Tax Rules May Come Soon, After White House Review

July 11, 2019, 1:10 PM

The IRS may propose rules soon for taxation of revenue from cloud computing services offered by giant multinationals like Amazon.com Inc.

The White House Office of Information and Regulatory Affairs completed its review of the regulations and sent them back to the IRS July 10, according to the office’s website.

Tax practitioners have said that without guidance on the issue, the U.S. may be missing out on a good deal of cloud computing revenue from tech companies like Amazon, whose Amazon Web Services business has grown enormously. The services allow buyers to use the company’s network of remote ...

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