The Tax Exchange
Tax discussions for the business leader
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.
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).