United States

The Tax Exchange - September 2017

Helping employees impacted by hurricanes and other major disasters

Helping employees impacted by hurricanes and other major disasters

Due to the recent hurricanes in the southern U.S., many employers are looking for ways to provide financial assistance to their employees who have been impacted by these major disasters. There are several tax-advantaged methods employers can use to provide financial support to these employees.

  • September 19, 2017
Texas sales and use tax benefits following Hurricane Harvey

Texas sales and use tax benefits following Hurricane Harvey

In response to the devastation from Hurricane Harvey, the IRS, Texas and other states have provided guidance on extended filing deadlines. Texas taxpayers should consider a number of sales and use tax benefits created to help taxpayers rebuild and repair their businesses after natural disasters.

  • September 15, 2017
Certain domestic entities and trusts may be required to file Form 8938

Certain domestic entities and trusts may be required to file Form 8938

As the September 15 deadline draws ever closer and taxpayers and return preparers alike begin to ramp up filing efforts again, it’s important to remain cognizant of changes in reporting requirements that may have occurred for the tax year.

  • September 11, 2017
Refund opportunity: Illinois retroactively eliminates double throwback

Refund opportunity: Illinois retroactively eliminates double throwback

Most commonly impacting drop-shipment transactions, “double throwback” of receipts to the sales factor refers to a scenario where a taxpayer is not subject to tax in both the state where goods are shipped by a vendor and the state where the customer is located.

  • September 07, 2017
Victory in Chevron settlement supports strong transfer pricing

Victory in Chevron settlement supports strong transfer pricing

A Chevron Australia spokesman indicated the company reached a “reasonable resolution” with the Australian Taxation Office (ATO) on the transfer pricing dispute over an intercompany loan.

  • September 06, 2017
As summer cools off, state amnesties begin to heat up

As summer cools off, state amnesties begin to heat up

When the 2017 legislative session kicked off in January, states were not yet discussing tax amnesties as a mechanism to relieve budget deficits and revenue shortfalls.

  • September 01, 2017