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The Tax Exchange

Tax discussions for the business leader


EU value added tax refund potential for pharmaceutical companies

EU value added tax refund potential for pharmaceutical companies

A recent opinion by the Advocate General (AG) for the European Court of Justice (ECJ) opens the door for pharmaceutical companies to potentially claw back previously charged value added tax (VAT).

  • July 20, 2017
Avoiding IRS penalties: Substantial compliance with foreign returns

Avoiding IRS penalties: Substantial compliance with foreign returns

Years ago it was not unheard of for taxpayers to file their international information returns with the entity’s name, maybe a foreign tax ID number, and “financials available upon request.” To be clear, this approach does not work today.

  • July 06, 2017
S Corporation required to pay employment taxes - twice

S Corporation required to pay employment taxes - twice

We see a growing trend where companies choose to ‘lease’ their employees through a Professional Employer Organization (PEO). But what happens if the PEO fails to remit the employment taxes to the IRS?

  • June 30, 2017
Updates on the new IRS LB&I Division compliance campaigns

Updates on the new IRS LB&I Division compliance campaigns

The IRS participated in a one-hour LB&I compliance webcast on June 20 as part of its efforts to provide tax practitioners with additional information on how its new compliance campaigns will operate.

  • June 28, 2017
Employers with self-insured health plans owe PCOR fee by July 31, 2017

Employers with self-insured health plans owe PCOR fee by July 31, 2017

Despite on-going efforts in Congress to repeal and replace the Affordable Care Act, employers with self-insured health plans are still required to pay the annual patient-centered outcomes research (PCOR) fee for plan years ending in 2016 by July 31, 2017.

  • June 23, 2017
Tax planning for ESOP-owned S corporations

Tax planning for ESOP-owned S corporations

The June 2017 Tax Court decision in Petersen is a good reminder of the unique tax considerations for S corporations owned by employee stock ownership plans (ESOPs).

  • June 21, 2017