The entity-level tax election is effective for tax years beginning on or after Jan. 1, 2021 and ending before Jan. 1, 2026.
The entity-level tax election is effective for tax years beginning on or after Jan. 1, 2021 and ending before Jan. 1, 2026.
A family developing a family office needs to establish a governance framework apart from the operating business that grew its wealth.
When aligning your preferences with 1 of 3 main structural forms, a family office will position itself to succeed for many years to come.
As manufacturing companies rethink their global footprint, they have to bear in mind the changes in tax rules that target global income.
Effective July 1, 2021 the EU’s broad e-commerce package came into effect. The reform aims to modernize VAT for cross-border e-commerce.
Legislation would have created an elective pass-through entity tax intended to reduce the impact of the federal limitation.
Learn about the ACE Act, SCOTUS overturning donor disclosure mandates and more in this July 2021 exempt organization update.
Minnesota updates conformity to include recent federal coronavirus legislation and offers a pass-through entity workaround.
President Biden’s proposals for prioritizing clean energy affect the industrials sector including manufacturing, automotive, and oil and gas
Details of President Biden’s proposals for prioritizing clean energy and its potential effect on the consumer products industry
Employers that do not provide Affordable Care Act-compliant health coverage are in danger of being assessed IRS penalties.
Biennial legislation cuts taxes, offers more refundable research credit expenses and allows pass-through entities to claim certain credits.
A primer on a nonresident’s tax obligations when disposing of Taxable Canadian Property or Taxable Quebec Property.
What is the right succession plan? For many in the construction industry, the answer is often found in the employee stock ownership plan.
President Biden proposed changes to revamp the U.S. international tax system significantly affect multinationals in the technology industry
Nebraska broadly exempts manufacturing inputs used by ethyl alcohol producers from the sales and use tax effective Oct. 1, 2021.
Trio of tax bills impact individual and business filers with significant corporate income tax changes scheduled for 2022.
Arizona budget proposals reduce rates, keep the flat tax alive for future years, and provide a rate cap for high earners.
New Jersey budget deal commits less than 5% of the state’s budget surplus to tax relief, ignoring mobile individuals and businesses.
The recent Leon Max v. Commissioner case has concerned practitioners and taxpayers claiming research credits under section 41.
Understand the impact new GST/HST rules may have on distribution platform operators and what you can do before July 1 to be ready.
Digital assets may be impacted by value added tax and digital services tax implemented by various jurisdictions.
MTC updates status of combined reporting and transfer pricing initiatives, announces new initiatives on pass-through and digital tax issues.
Wisconsin budget bill moves forward with tax cuts aimed at encouraging individuals and businesses to stay and invest in the state.
Overview of the SEP rules that are important for multinational entities to consider while conducting business in India.
Three years after the Wayfair decision, economic sales tax nexus has become the norm, but unanswered questions and numerous issues remain.
Is a payment to a life science company monetizing a royalty stream a loan or sale proceeds? Is the income ordinary or capital?
North Carolina Senate pushes forward major tax reform bill, continuing down the path to repeal the state’s corporate income tax.
Massachusetts legislature approves 2022 ballot measure to add 4% additional tax on all income over $1 million effective January 1, 2023.
COVID-19 legislation permits taxpayers to provide tax-free payments for certain student loan payments through 2025.
Purchasers of software to be used in multiple jurisdictions can apportion sales tax and may be able to seek a refund of tax paid.
Organizations earning fees for digital products and services from residents of Canada may be required to register for GST/HST.
Virtual workforce opportunities have allowed employees to become transient, potentially increasing or reducing your state tax obligations.
ARPA requires health plans to provide employees with six months of free COBRA coverage due to hours reduction or involuntary termination.
Mexico bans subcontracting arrangements. Companies need to act by Aug. 23 2021 to avoid tax, legal and judicial consequences.
States may not allow the gross income tax exclusion provided by the federal program, resulting in taxable discharge of indebtedness income.
Some exempt organizations will be subject to Virginia’s informational reporting requirement for unitary businesses, due July 1, 2021.
RSM US LLP real estate professionals discuss the future of tax and technology automation, and how it can help real estate firms.
There are many things to consider when sending employees abroad on short-term assignment. Here’s the top things you should keep in mind.
What is restricted stock and how does it affect taxes for employers and employees? Find out more about this executive compensation option.
Plan sponsors have until July 31, 2021, to pay the patient-centered outcomes research fee on health plans for plan years ending in 2020.
Learn more about how a taxable REIT subsidiary was created to perform activities that cannot be performed directly by the REIT.
The newly enacted optional tax may provide significant opportunity to taxpayers, and in particular, owners of financial service firms.
Sellers are able to command top dollar if they go into the sales process ready to hit the ground running which includes tax preparation.
The international tax landscape is shifting based on recent reports from the White House, Senate Finance Committee and U.S. Treasury.
Increasing capital gains rates and low corporate tax rates create opportunity for an exclusion of gain on Qualified Small Business Stock.
Construction firms forced to reduce or cancel operations by jurisdictional order may meet employee retention credit eligibility requirements
2020 regulations expand the scope of the foreign tax redetermination rules, increasing compliance burdens in many cases.
Discover the common triggers that lead to unclaimed property audits; learn the tactics to get ahead of the curve and mitigate risk.
Washington National Tax summarizes key tax aspects of President Biden’s American Jobs Plan and the Made in America Tax Plan.
Investors need to slow down enough to get their arms around the potential tax ramifications of any real estate acquisition.
There are approximately 200 family offices established in Singapore managing $20 billion of assets, and these numbers will likely grow.
Netherlands Budget Day 2021: An overview of important corporate and international tax developments to be aware of in country
These practice units focus as much on documentation as the soundness of the calculation methodologies themselves.
Nonresidents of Canada could face significant Canadian sales tax compliance obligations effective July 1, 2021.
In response to the pandemic, the Canadian government introduced support programs that could benefit U.S. multinationals.
French court expands definition of dependent agent for purposes of Permanent Establishment (PE) determination.
The IRS seeks to improve compliance related to tax-exempt hospitals establishing and implementing financial assistance policies.
From investing to accounting to compliance, digital solutions are now able to improve each of a family office’s operational components.
Managing significant tax changes will ensure individuals and businesses are positioned for success for the remainder of 2021 and beyond.
From retroactivity to loss of planning techniques, this year we face a unique set of concerns when considering gift and estate planning.
Family offices are benefitting from dashboard technology that integrates real-time data to support strategic planning and decision-making.
Despite receipt of PPP loans, hospitality businesses may be eligible for retroactive 2020 and new 2021 credits.
Individuals may be eligible for a valuable incentive to reduce federal income tax liability for contributing to a 401(k) plan.
Companies doing business in, or through India, should evaluate the impact proposed in the India’s 2021 budget released Feb. 1.
Reduction of participation exemption for dividends and capital gains earned by Spanish entities increases corporate tax rates by 1.25%.
A single-debtor Chapter 11 reorganization, may trigger a Form 8937 filing requirement for the reorganized company. Learn more about it.
The Employee Retention Credit provides liquidity benefits for many businesses and was significantly expanded for 2020 and 2021.
Stimulus legislation extends through 2021 the 100% of AGI deduction for itemizers and availability of a deduction for non-itemizers.
Colorado enacts law restoring certain deductions related the to the CARES Act for both business and individual taxpayers.
Effective January 1, Oregon businesses and individuals in the Portland area have additional regional and county taxes on income and wages.
Investment partnerships face a complex landscape when it comes to tax compliance. The solution lies in partnership tax technology.
Sweeping changes are coming. Don’t let required capitalization of research expenditures wreak havoc on your tax return.
Information on the instant asset write-off and tax loss carryback measures in Australia with potential tax savings for clients.
What many ERISA plan sponsors consider “reasonable” fiduciary responsibility for plan document retention may not comply with IRS rules.
Devaluation caused by the pandemic may turn your company into a PFIC. However, there may be ways to mitigate tax costs.
Now that we are post-Brexit and new rules have been released, companies must quickly move from planning to execution stage.
A consequence of COVID-19 reductions is potential partial plan termination. Learn the requirements of a partial plan termination.
Tax technology tools are always changing. Innovation can’t outpace you if you’re prepared with the right data and the right team.
Privately held C corporations may be able to maximize gain exclusions and unlock a lower corporate tax rate through section 1202.
Effective Jan. 1, 2021, the long-standing terminating business gain exclusion for unincorporated business tax purposes is eliminated.
Management fees paid to shareholders not made purely for services and unreasonable in amount are not deductible under section 162.
While 2021 may turn into a feeding frenzy for private equity, longer-term investors can remain as selective as they’ve always been.
Reverse sales and use tax audits can help businesses improve cash flow and provide long-term tax compliance improvements.
The best way to handle a state or local tax controversy is to build a strong foundation of pre-controversy preparation.
Biden’s campaign proposed tax increases that affect family offices, including rate hikes on corporations and wealthy individuals.
Iowa taxpayers making computer and computer peripheral purchases have new guidance for determining what items qualify for exemption.
The OECD’s guidance illustrates how the pandemic may impact arm’s length results, including lower profits and even losses.
Plan sponsor actions to incorporate the provisions of the SECURE and CARES Acts into their plan documents and plan administration.
Taxpayers should familiarize with Biden’s plan, remain vigilant for developments and position themselves to act at the appropriate times.
Employers impacted by COVID-19 may be eligible for payroll tax credits and deferrals reportable on their quarterly payroll tax returns.
Businesses with San Francisco activity should be prepared to understand a number of recent changes and updates to city tax law.
The Employee Retention Tax Credit was significantly expanded by the federal relief and stimulus package finalized Dec. 27, 2020.
Business and professional services providers should consider whether sales tax collection is necessary in the wake of the Wayfair decision.
Georgia has expanded the state jobs tax credit to apply to businesses hiring telecommuting employees in 2020 or 2021.
A look at the impact of Brexit on tax treaties and on the operation of tax law internationally in the new year.
Learn more about the U.S. attribute reduction rules for stand-alone C corporations and how they apply to federal consolidated return groups.
Some common paid time off (PTO) policy features cause taxable income to unexpected parties at unexpected times. Learn more here.
Members of pass-through entities must conduct thorough modeling to determine whether a workaround is ultimately beneficial.
Updated emergency regulations and revised guidance explains the duration of COVID-19 nexus and withholding policies.
Some European member states are extending the application of the anti-hybrid rules to common non-abusive structures.
China has dominated global supply chains, but with rising labor costs, a U.S.-China trade war and the COVID-19 outbreak, this may change.
Companies contemplating a remote workforce should monitor the potential tax changes in states where employees may live and work.
Form 1099-NEC replaces Form 1099-MISC Box 7 (contractor compensation), but some compensation may be reported on both 1099-NEC and 1099-MISC
Employers may wish to pay Social Security taxes deferred under the CARES Act before the due date and should consider certain items.
Learn why the IRS is increasing its scrutiny on high net worth athletes and entertainers, and what can be done before an audit.
Real estate investors are ready to close the books on 2020. Here are 10 smart moves for real estate investors to consider at year’s end.
RSM and PERE magazine discuss how technology is transforming real estate investors’ abilities to scenario plan and evaluate tax obligations.
The COVID-19 pandemic has increased the risk of noncompliance in an evolving sales and use tax compliance landscape.
Now that Democrats’ best-case scenario in the Senate is a 50-50 split, it is safe to expect significant challenges to tax policy changes.
A recap of presentations, top questions and highlights from virtual sessions held at the 2020 RSM annual tax summit.
The COVID economy and virtual transformation may provide the right opportunity to take control of supply chain management.
The political and social landscape in the oil and gas industry is changing, and companies without an ESG strategy will fall behind.
Recent changes by Indian tax authorities on taxing dividend distributions may impact U.S. investors’ repatriation of earnings.
New state governments set to tackle raising revenue through new and increased taxes coupled with tax-related ballot measures.
State tax planning opportunities to consider in light of COVID-19, the resulting economic crisis and evolving tax laws and regulations.
Section 1202 could provide small business investors with a complete exemption of gain realized from the sale of QSB stock.
Misconceptions about the federal research and development tax credit leave many companies paying more tax than required.
To get the corporate tax technology you covet, you will first need to convince the right people to give you funding. Here’s how to do it.
Four states have adopted or are considering budgets without significant tax increases even considering pandemic shortfalls.
Learn how the U.S. Consolidated Return Unified Loss Rules affect mergers and acquisitions and how taxpayers can benefit from some elections.
The CARES Act enacted a temporary suspension of the TCJA’s 80% limitation on the use of NOLs, this will impact FTC and ODL calculations.
With the election approaching, RSM is looking at the economic stakes and the key issues for family offices.
Tax planning opportunities for consideration in light of COVID-19, the resulting economic crisis, and evolving tax laws and regulations.
Excise taxes can have a serious financial impact on business, yet many aren’t focused on the potential impacts.
Looming budget shortfalls coupled with tax-related ballot measures in many states could significantly affect 2021.
RSM identifies nine frequently asked questions (FAQs) about phantom stock plans, an incentive compensation tool.
A business-minded approach: Cybersecurity for family offices begins with awareness of prevalent threats and their own risk profiles.
RSM India covers the complex cross-border tax considerations and reporting requirements applicable to nonresident Indians in this guide.
Key actions companies doing business in the United Kingdom should consider as the UK’s transitional period with the EU comes to an end.
A business did not owe tax on service contract fees, finding the receipts were sourced out-of-state rather than to in-state customers.
Companies must minimize financial exposure and maximize their potential recoveries if their business clients face bankruptcy.
What are the top business issues and opportunities trending for middle market beauty sector companies in 2020?
These FAQs help family offices take a look at document management and retention practices, policies, technology systems and procedures.
Understanding the history of state transfer pricing can help those with intercompany transactions prepare for the future.
Transfer pricing audits are occurring more frequently and are expected to increase as the states look to recover from the pandemic.
Organizations that translate lessons learned from COVID-19 into future ready standards can create value that will last beyond this crisis.
Taxpayers may not be aware that their business activities with Canada may give rise to a reporting requirement, or even a tax liability.
Former Vice President Joe Biden’s tax plan features significant changes. Rates seem likely to rise, even if President Trump wins re-election
The future of state and local incentives in a post-pandemic economy will be highly influenced by remote workforces – states may act soon.
Learn more on CARES Act tax provisions relating to C corporations and the historical context for the changes contained in the legislation.
Tax law and policy changes may increase state and local taxes for many businesses as states look to make up pandemic shortfalls.
IRS tax transcripts can be a valuable tool for helping to resolve various tax issues promptly and effectively.
These Frequently Asked Questions will help you understand the stock options you have been granted and their tax consequences.
A judge found that taxpayers did not abandon their residency and were therefore still subject to Arkansas personal income tax.
Data-driven economic insights and outlooks for a variety of family offices provided by RSM US LLP senior analysts.
Recent memo provides IRS view that certain stockless contributions create a split holding period on the stock.
Coronavirus relief legislation creates tax pathways to boost liquidity for businesses amid economic downturn. Read more.
The state will decouple from CARES Act net operating loss, interest expense and excess business losses provisions.
Volatility and uncertainty in the markets create an unprecedented opportunity to transfer carried interests at low tax cost.
Here are five matters that board members may want to think about prior to their next virtual or socially distant meeting.
Applications to sell unused state net operating losses and state research and development credits available the week of May 1, 2020.
Revised conformity excludes certain net operating loss and excess business loss provisions effective for 2019 tax years.
The shift toward remote work is an opportunity for family offices to upgrade technological systems by adopting outsourcing and automation.
How family offices can maximize tax deductions and estate planning objectives during the economic downturn caused by the coronavirus.
RSM and Crimson Tree Software collaborate to transform how partnerships manage tax compliance and reporting in the middle market.
Depleted trust fund balances due to COVID-19 may cause state legislatures to act now to prevent further reductions.
Taxpayer permitted alternative apportionment when calculating Michigan sourced income from the sale of an out-of-state business.
As businesses increase the use of remote workforces, nexus and withholding determinations can greatly complicate state tax compliance.
Careful attention to transfer pricing policies can help middle market companies identify opportunities in the current market turbulence.
Effective July 1, Maryland has exempted from sales and use tax the sale of certain personal property to qualified data centers.
A sales tax bad debt analysis and review can provide necessary cash flow for many businesses in a distressed economy.
Recently published IRS guidance provides insight into the Service’s expectations regarding transfer pricing documentation
Manufacturers changing over operations in order to create personal protective equipment may be exposed to new state tax liabilities.
A handy, easy to follow playbook for the stay at home athlete who wants to keep their financial house in order.
Businesses buying or selling real estate should be aware of the transfer taxes that accompany those transactions.
Technology subsectors are not immune to the economic shock of COVID-19. However, they could see growth during this perilous environment.
Understanding the myriad of Net Operating Loss rules and regulations is increasing important, especially in a distressed economy.
New regulations provide guidance on computing unrelated business taxable income that likely will affect most tax-exempt private clubs.
As the Main Street Lending program rolls out, family offices that are eligible must consider pitfalls of borrowing one.
Many companies miscalculate the available accelerated depreciation on qualified leasehold improvements. Is your company one of them?
Ten-year net deferred tax liability deduction may be claimed beginning in 2023 as long as Form DT-1 is timely filed by July 1, 2020.
Digital assets present audit and accounting challenges that require re-examining basic considerations within traditional frameworks.
Proposed budget would freeze planned rate reductions and calls for a non-resident wage tax increase to offset the impact of COVID-19.
Here are some ways coronavirus could leave its mark on the global VAT, trade and tariff landscape for the life sciences industry.
The CARES Act adds to the complexity of state tax conformity to qualified improvement property. Learn how states approach the issue.
State nexus, income characterization and sourcing all potential and material concerns for businesses holding remote meetings.
The Coronavirus Aid, Relief and Economic Security Act has led to significant tax changes and relief for real estate owners and operators.
The federal five-year NOL carryback may have substantial ramifications on state income tax returns beyond simple conformity.
New or broader sales taxes or gross receipts taxes on digital goods and services may provide states much needed revenue.
Many employers are transitioning to virtual internship programs due to the COVID-19 crisis. Understand the state and local tax consequences.
Securities and Exchange Commission has provided some relief to regulated investment companies, but Internal Revenue Service has yet to act.
France enacted an intellectual property tax regime. Find out what this means for U.S. multinational businesses with operations in France.
The decision may impact sourcing positions taken by the financial service industry for New York State and New York City tax purposes.
After you have protected your company, people and customers, you will need to start assess where your business will be after the pandemic.
Taxpayers should contact their tax professionals to proactively discuss documentation needed to withstand IRS scrutiny.
In late March 2020 Mexico’s Secretary of Health issued measures that are to be followed in response to the COVID-19 pandemic
Taxpayers should consider the state and local tax controversy opportunities and considerations created by the COVID-19 pandemic.
Easing some of the industry’s widespread financial pressures from a state and local tax perspective may increase cash flow.
Globally mobile employers and their employees may face complications in addressing the individual rebates provided by the CARES Act.
Temporarily increased federal limits on business interest deductions under section 163(j) may impact some state taxpayers.
Changes to the federal net operating loss rules under the CARES Act create state tax risks and opportunities for many businesses.
State tax cash-flow maximization and risk minimization are available for private equity groups and their portfolio companies.
Cash-flow maximization and support opportunities are available to the fashion and beauty industry reeling from COVID-19.
The new law intends to help Main Street businesses. Some family offices might be classified as a small business and eligible for loans.
Income and sales tax refund reviews may help companies improve cash flow in the short term and provide savings in the long term.
State tax considerations and opportunities as the pandemic impacts grocer revenues, supply chains and employment.
COVID-19 has caused many businesses to be concerned about short-term liquidity. New federal programs aim to help payroll, operating costs.
Employees working remotely due to the COVID-19 pandemic may result in income tax consequences to both the employee and the employer.
Job losses and hardships have some investors tapping into employer-sponsored retirement savings. Learn what questions you may face.
Companies can now avoid traditional funding routes and raise millions of dollars online. But the approach is not without risk.
State and local tax filing and penalty relief guidance in response to COVID-19 has accelerated as deadlines approach.
State and local tax opportunities are available for restaurants for cash flow maximization and support during the pandemic.
Bringing stability to your supply chain and maximizing liquidity is critical to maximize your organization’s financial results.
State and local tax strategies may alleviate some of the economic consequences of COVID-19 on the manufacturing industry.
Businesses in the technology industry may benefit from a roadmap of cash-flow maximization considerations during the COVID-19 pandemic.
Law firms and professional services businesses are experiencing challenges with the COVID-19 pandemic, creating state and local tax issues.
Immeasurable operational challenges face the industry as some sectors see opportunities while others see risk.
Proper tax planning in a workout or restructuring is necessary to provide valuable tax attributes to the restructured business.
During a debt workout or restructuring, it is critical that businesses evaluate their restructuring options and the related tax impact.
Widespread availability of credits and economic incentives during the COVID-19 pandemic may help businesses increase cash flow.
The conditions that cause uncertainty today create opportunities to transfer wealth to the next generations at historically low tax cost
Financial services businesses providing software and services to Illinois customers may have multiple transaction tax obligations.
Global employers need to be aware of the risks they face as they navigate through the complexities posed by COVID-19.
As the human and economic toll of coronavirus mounts, no sector of the economy has been immune from a downturn, including family offices.
With evolving tax regulations on a federal, state and international level, understand the key tax due diligence when selling.
From tariffs to coronavirus to shifting consumer tastes, auto suppliers confront an era of uncertainty as they look ahead to 2020 and 2021.
Learn why exiting one’s business is not just about when you are ready. Watching market conditions often leads to an optimal divestiture.
Employers have several tax-advantaged methods for providing financial support to employees impacted by major disasters.
If your company owns or leases energy-efficient commercial buildings, you may be eligible for a deduction for associated property costs.
We explore the evolution of the digital economy and its impact on policies, populism, globalization and growth.
U.S. investment funds, banks and other FIs with foreign investors may need to remediate volumes of tax withholding certificates.
Advisor must document amounts used to “investigate” an actual buy or sell – a study may make sense if amounts are substantial.
In early September, Mexico released a proposed tax reform package with significant changes in the country’s international tax regime.
Publicly traded companies located in Illinois may be subject to new demographic reporting requirements by Jan. 1, 2021.
Recent reversal of long-standing exemption for medical billing services scheduled to be effective April 1, 2020.
If adopted, the accredited investor definition will be a test family office investors will need to pass before investing in private markets.
Massachusetts rejects change in domicile after Florida home purchase, driver’s license change and new voter registration.
The ACA’s shared responsibility penalty on individuals without health insurance no longer applies after 2018, but state penalties may apply.
Redesigned forms and instructions require partnerships to reconsider tax basis capital and section 704(c) compliance processes.
Fund management companies face difficult challenges in determining their state income tax filing obligations and apportionment rules.
Economic markets’ reaction to the coronavirus have been severe, resulting in a significant safe-haven move into U.S. government securities.
This article discusses state, county, and local-level credits and incentives a company should consider in evaluating investment into the US.
The Wayfair decision goes beyond just retail and can impact manufacturers that sell exempt to resellers or distributors.
Holders of IRAs may need to withhold 10% federal tax and file Form 1099-R when escheating certain IRA distributions.
Favorable classification available for retailers selling private label products and consumer products companies using contract manufacturing
Three states have prescriptions for opioid taxes on manufacturers and distributors. Here’s what you need to know.
In the event of an economic slowdown, how should taxpayers consider adjusting their pursuit of credits and incentives?
Individuals and their advisors need to be familiar with the various IRA tips and traps to avoid negative consequences.
When employing family members, it’s best to follow set hiring policies to help ensure success. Learn how to avoid generational failure.
It should be easy to know where you live, but for state personal income tax purposes, the question becomes “where are you domiciled?”
The rising use of innovative technology and the uncertainty created by trade policies are among the trends worth watching this year.
Companies investing in the U.S. must consider how the new regime of state and local sales and use tax nexus may affect their organization.
Certain perishable meat manufactures, processors, and sellers may be eligible for a reduced business and occupation tax rate.
In the rush to take advantage of the qualified opportunity zones program, taxpayers may overlook the benefits of state and local tax credits
Some hedge fund managers are making the move to restructure their wealth as a family office; however, there are key areas to consider.
The Michigan Department of Treasury issued a letter ruling detailing the sales tax treatment of various information services.
With the NCAA opening the door to name, image and likeness compensation, there are several key considerations for schools and athletes.
Notwithstanding unfavorable changes to the Code, capital gain treatment is still available on the sale of patents in certain scenarios.
The FTB ruled that limited partnerships disregarded for federal income tax purposes are not subject to minimum tax or filing requirements.
Retailers should assess gift card procedures including an annual review of reporting, sales tax, unclaimed property and more.
Ohio backtracks on eliminating business income deduction for certain taxpayers after concerns over enforcement and application surface.
Favorable rule for corporate stock acquisitions where life insurance contracts are less than 50 percent of the target corporation’s assets.
The U.S. Senate approved treaty protocols that will affect the taxation of pension plans between certain contracting states.
Puerto Rico has enacted new legislation to provide additional tax benefits for investing in projects in PR opportunity zones.
Although not effective until July 2020, DAC 6 reporting obligations retroactively apply to transactions occurring on, or after June 25, 2018
Data is the new battleground for tax authorities. Businesses should take steps to assure the quality and integrity of their data.
Understand the critical legislative updates and changes from 2019 affecting state and local tax planning and compliance.
Guidance would facilitate transitions of existing debt and derivatives to alternative benchmark rates without creating taxable exchanges.
As of Jan. 1, 2019, foreign non-resident taxpayers conducting business in Quebec are required to register for the Quebec Sales Tax.
A business guide to tax considerations for 2019 to help make informed decisions after the Tax Cuts and Jobs Act.
Market-based sourcing effective for periods ending on or after Dec. 31, 2021, for the Business Enterprise Tax and the Business Profits Tax.
Minnesota tax-exempt organizations may find some relief knowing that the state does not conform with two major federal changes.
U.S businesses with operations in the Netherlands may be impacted by the 2020 Tax Plan proposed on Sept. 17, 2019.
More than $750bn VAT revenue has been lost across the EU over a 5-year period from VAT fraud and more significantly to noncompliance.
India’s sweeping corporate tax cuts, effective retroactively to April 1, 2019, makes the country a viable investment destination in Asia.
Expanding outsourcing strategies can often provide immediate benefits that enable the company to capitalize on growth opportunities.
A robust look at several significant international provisions for foreign-derived intangible income, also referred to as section 250.
From taxation complexity to understanding cyberthreats, what are today’s top five concerns for family offices?
Recent activity among state and local gross receipts taxes may signify that a historic approach to taxation is ready to be a new trend.
The amount of wealth managed by family offices continues to grow as more families sell out their founding businesses.
The introduction of the services cost method concept to the Base Erosion Anti-Abuse Tax (BEAT) is a welcome benefit to some taxpayers.
The second round of Qualified Opportunity Zone regulations may spur taxpayer confidence and financial implications will drive investment.
Senate Bill 1591 provides an income tax credit for qualified apprentice education expenses through Dec. 31, 2024.
Effective Nov. 1, 2019 Polish tax authorities announced they will introduce what is known as a Split Payments Mechanism (SPM).
New law aims to protect New Hampshire businesses from sales and use tax compliance obligations due to economic sales tax nexus.
Actions by Chinese authorities in retaliation against US threat of additional tariffs represent a significant escalation in the trade war.
Senate Bill 523 provides a definition for certain digital goods and clarifies tax treatment for items without a tangible equivalent.
Washington Court of Appeals determined the graduated income tax to be impermissible under a uniformity requirement.
Exploring ways to incorporate qualified opportunity fund investments into your overall estate and gift tax plan.
Many manufacturers are noting the costs of tariffs for the first time. Beyond exemptions, there are other options to keep costs down.
In a volatile trade environment, one manufacturer is encouraging his peers to learn more about their options and prepare for uncertainty.
Final regulations issued in late June 2019 on GILTI inclusion could have a considerably differently impact on PE and VC fund structures.
Budget bills address pass-through entity tax, sales tax base and nexus changes, tax credits and reporting obligations.
Ohio budget bill makes a number of changes to Ohio’s tax code expecting to result in millions in tax cuts; sales tax nexus addressed.
Reminder of Manitoba’s retail sales tax transition rules for one-percent rate reduction effective July 1, 2019.
Amendments extend the tax abatement an additional five years, provides for an enhanced abatement and makes minor other changes.
The California fiscal year 2020 budget addresses TCJA conformity and other new and amended state tax provisions.
There are four key pillars of service to having an effective global VAT strategy: structural, automation, compliance and reclamation.
Professional services firms could be overlooking financial reporting standards that affect software and cloud-based platforms costs.
Answers to questions about the most common tax related issues for U.S. citizens and residents starting an assignment abroad.
Skepticism regarding artificial intelligence is understandable, but it’s often based on a misunderstanding of what AI really is.
Small business owners may be able to increase tax-beneficial retirement contributions with the use of a cash balance plan.
On July 15, 2019, several of our club clients received “warning notices” from the IRS. Read to learn what this means for private clubs.
Varied taxable income can lead to fluctuations in the real estate life cycle. Minimize exposure to phantom income with these considerations.
If a fund is organized as a partnership, and has German investors, the annual filing of a partnership return in Germany is required.
California amends the effective date for district remote seller nexus requirements; offers penalty relief for certain marketplace sellers.
Budget bills address pass-through entity tax, sales tax base and nexus changes, tax credits and reporting obligations.
The 2019 legislature passed several tax changes, issued marketplace facilitator rules and provided additional credits and incentives.
Get key tips for bringing the next generation into the family business. These lessons learned can help propel the enterprise.
Learn more about the recent South Dakota v. Wayfair, Inc. U.S. Supreme Court decision and how it could affect private clubs.
The Department of Labor will require filings for executive retirement plans to be submitted electronically beginning Aug. 16, 2019.
Modernization addresses Alabama’s Opportunity Fund, Jobs Act Credit, federal opportunity zones and other incentive provisions.
What government contractors should know regarding accounting methods after tax reform and the new revenue recognition standards.
Pass-through entity tax election for the 2019 tax year due June 28, 2019; election window will close until next calendar year.
Treasury and the IRS finalize and withdraw certain provisions contained in previously issued temporary section 987 regulations.
Alabama makes significant reforms to the Financial Institution Excise Tax by establishing estimated payments and redefining net income.
The IRS has issued guidance for withholding agents on the submission of delinquent international withholding forms.
Research implies that U.S. consumers and firms are paying a $3 billion-per-month increase in costs due to current trade policies.
Specially designated districts designed to fuel economic growth where development has been stagnant offer investors tax-saving options.
The Historic Rehabilitation Credit, Quality Jobs Tax Credit, and Manufacturing Investment Tax Credit are all impacted by new legislation.
U.S. businesses providing certain services and digital goods to individuals in Quebec may have Quebec sales tax compliance obligations.
Program offers credit against the corporation business tax and the gross income tax for certain digital media content expenses.
This article dispels myths about the new UNICAP rules and discusses the impact of the new rules on manufacturers.
Favorable estate planning rules in place to 2026 would be less so in 2021 under some Democrats’ proposals. Time to consider the what ifs?
It has been nearly 90 years since the trade wars of the 1930’s, so there is little memory of what a trade war looks like.
Tax-exempt charities can effect positive change. Learn how private clubs can establish and maintain an affiliated tax-exempt charity.
Not all digital assets are received through an exchange; airdrops and hard forks create another layer of complexity for taxpayers
Alleviate the stress of your business sale or transition by addressing 10 key missteps many business owners make.
Health savings accounts are a valuable tool for saving money for medical expenses since they offer a triple tax benefit.
Tariffs have created significant challenges to the sustainability of middle market companies, read how to tackle these with data and BI.
The new revenue guidance has cleared the way for businesses and investors to invest in opportunity zones and drive economic growth.
Changes to the international tax system will require U.S. taxpayers to navigate important foreign tax credit transition rules.
Unclaimed property trends and modernization are highlighted at the 2019 Unclaimed Property Professionals Organization conference.
Kentucky addresses IRC conformity, amends various income tax provisions and enacts marketplace provider nexus.
What’s the impact to the middle market from a multifront series of trade conflicts? We explore the risks and possible outcomes.
New partnership examination procedures which began in tax year 2018 under the BBA are more complex than previous procedures.
Signing a statute of extension when an examination extends past the three year deadline may be a good option.
The IRS Office of Appeals opportunity to settle without going through litigation may be the best strategy for resolving difficult tax issues
Intersection of GILTI rules and business interest expense limitation rules creates opportunity to characterize interest expense.
Understanding the impact GILTI will have on your multinational organization may maximize tax planning opportunities and minimize risk.
Tax bill reduces nexus thresholds and amends provisions of the business and occupation tax; addresses remote sales tax collection.
The TCJA revised the long-standing prohibition on a nonresident alien being a potential current beneficiary of an ESBT
The enactment of TJCA creates pressure on taxpayers to distinguish what qualifies as a trade or business for tax purposes.
Understanding the importance of section 1202 and consequences of capital contributions to closely-held corporations
Proposed Sec. 465 regulations provide significant guidance and detailed examples of the application of the at-risk rules for partnerships.
Carefully consider international blockchain enterprise structuring in light of the Tax Cuts and Jobs Act (TCJA)
Changes made to the qualified transportation fringe benefit and loss of deduction by the TCJA under tax reform.
Legislation would have addressed various tax reform provisions, conformity, and remote seller sales tax nexus.
Tax considerations and planning tips for taxpayers undergoing a stock or asset sale with payments contingent on both earn-out and employment
Key tax takeaways for privately held, middle market companies when adopting the new lease accounting standards.
Economic sales and use tax nexus laws are gaining momentum as states make a direct challenge to traditional physical presence standards.
Complaint alleges 2017 nexus regulation is not in line with anti-retroactivity element of the Wayfair decision.
Double tax on dividends received by United States shareholders from foreign corporations addressed via TJCA through section 962.
New and increased San Francisco gross receipts taxes take effect in 2019; economic nexus standard of $500,000 adopted.