The Tax Exchange
Tax discussions for the business leader
Fall is around the corner and Congress’ progress on tax reform leaves much to be desired. Earlier in the year we were hopeful for comprehensive tax reform in 2017, now we are cautiously optimistic for even a minor reform package to come by the end of 2018.
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).
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.
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?
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.
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.