ThomsonReuters

FEBRUARY 16, 2024

Pillar, or the ongoing tax industry talent shortage, tax departments are under stress like never before. The proper utilization and deployment of technological solutions alongside valued tax professionals is how successful tax departments deliver valued analysis, insights, and guidance for their organizations.

Technology 96

Technology Compliance Start-ups Finance 96

Harvard Corporate Governance

JUNE 24, 2022

The authors have also written short editorials for The New York Times, The Washington Post, Fortune, amongst others; each of which were the most-read articles in their respective outlets for at least 36 hours upon publication. (discussed on the Forum here ), all by Lucian A. Bebchuk, Kobi Kastiel, and Roberto Tallarita.

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ThomsonReuters

FEBRUARY 22, 2024

It is inevitable that in the next few years, it will impact – and even transform – how corporate tax professionals go about their work. So, what are the key aspects of AI that are likely to affect the world of corporate tax? Here are the top five AI terms corporate tax professionals need to know: 1.

Compliance 93

Compliance Start-ups Technology 93

LaPorte

NOVEMBER 10, 2023

(authored by RSM US LLP) The Supreme Court's ruling in Moore v. United States could reshape Congress' authorization to tax income. The post Supreme Court tax case could have outsized ramifications on income taxation first appeared on LaPorte.

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ThomsonReuters

MARCH 4, 2024

Preparers have the following perfection periods to correct and retransmit tax returns or extensions that were filed on time but were rejected by the filing deadline. What is the e-file rejection grace period for federal tax returns?

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LaPorte

AUGUST 25, 2022

(authored by RSM US LLP) Tax changes in the Inflation Reduction Act could affect middle market businesses despite targeting large corporations and high-income individuals. The post Taxes and the Inflation Reduction Act: What middle market businesses should know first appeared on LaPorte.

Marketability 98

Marketability 98

Harvard Corporate Governance

MAY 27, 2022

These provisions were amended in 1996 to authorize the Commission to define registered investment company names as “materially deceptive or misleading.” [1]. Based on that authority from Congress, the agency adopted the Names Rule in 2001. A lot has happened in our capital markets in the past two decades.

Marketability 213

Marketability 213

LaPorte

FEBRUARY 15, 2023

(authored by RSM US LLP) Don't be guilty. Year-end planning and analysis is still required for GILTI due to the ever-changing tax law. The post Ten quick year-end reminders for GILTI first appeared on LaPorte.

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ThomsonReuters

MARCH 6, 2024

In the corporate tax space, just as the regulatory compliance landscape becomes more challenging and reporting requirements become more demanding, technology is advancing rapidly to crunch vast amounts of data in no time and streamline labor-intensive processes. AI is adept at supporting both.

Compliance 88

Compliance Technology 88

ThomsonReuters

FEBRUARY 20, 2024

International GAAR rules Keeping up with tax avoidance regulation Abusive tax planning is not just a concern among U.S. tax authorities, it is a global concern. Governments around the world have long taken steps to crack down on tax evasion, such as using general anti-avoidance rules, better known as GAAR.

Compliance 52

Compliance 52

LaPorte

NOVEMBER 13, 2023

(authored by RSM US LLP) IRS releases inflation adjustments for 2024. Inflation adjustments impact individual tax brackets and other various provisions of the Code. The post IRS Releases 2024 tax inflation adjustments first appeared on LaPorte.

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ThomsonReuters

DECEMBER 20, 2020

What is the difference between sales tax and value-added tax (VAT)? Both sales tax and VAT are types of indirect tax – a tax collected by the seller who charges the buyer at the time of purchase and then pays or remits the tax to the government on behalf of the buyer. Sales tax vs. VAT overview.

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LaPorte

MARCH 31, 2022

(authored by RSM US LLP) Exporters of crude oil were entitled to a refund of section 4611 oil spill excise tax. The post Court rules on excise tax refunds for exported crude oil first appeared on LaPorte.

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LaPorte

MAY 30, 2022

(authored by RSM US LLP) The tax policy landscape in Washington remains unsettled as we approach the summer months, while inflation remains the dominant economic issue. The post An update on the tax policy landscape against inflation backdrop first appeared on LaPorte.

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Peak Business Valuation

MARCH 2, 2024

Who likes overpaying for taxes? Most individuals want to pay exactly what they owe in taxes—no more, no less. Equipment appraisals play a crucial role in tax reporting. These valuations provide businesses with the understanding necessary for tax compliance and optimization. To this day, we have not met anyone who does.

Appraisal 52

Appraisal Business Valuation Compliance Fair Market Value 52

LaPorte

SEPTEMBER 5, 2023

(authored by RSM US LLP) The sale of stock at a price in excess of a 409A valuation can create risk that the shareholder must treat a portion of the sale proceeds as compensation, subject to higher tax rates, and that the company is subject to payroll tax withholding on that portion.

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IVSC

JUNE 12, 2023

In her OPP role, she provides firm-wide technical guidance on a variety of valuation, financial reporting and tax issues. Carla has conducted numerous business and asset valuations for a variety of purposes, including purchase price allocations, goodwill impairment testing, M&A, corporate tax restructuring and debt analysis.

Risk-free Rate 130

Risk-free Rate Intangible Assets Appraisal Business Valuation 130

ThomsonReuters

APRIL 21, 2024

For corporate tax professionals, navigating the ever-evolving landscape of tax codes and regulations is often a daunting task. Customs authorities may impose excessive fines and penalties for misclassifications, leading to unnecessary costs beyond inaccurate duty calculations. The stakes are high. The proposed H.R.

Compliance 52

Compliance Technology 52

LaPorte

AUGUST 8, 2023

(authored by RSM US LLP) Explaining the tax complexities associated with open-end real estate funds and how advanced digital applications can handle them. The post Tax complexities don’t have to offset the benefits of open-end real estate funds first appeared on LaPorte.

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ThomsonReuters

MAY 12, 2022

What triggers a sales tax audit and how do you reduce the risk of an audit? Almost all companies undergo a sales tax audit at some point. This sales tax audit guide can help indirect tax teams avoid common audit triggers and manage the sales tax audit as smoothly as possible. What is a sales tax audit?

Compliance 105

Compliance Technology 105

ThomsonReuters

MARCH 17, 2023

As a trusted advisor to your clients, you understand the importance of having access to credible tax research sources to help you keep pace with today’s complex regulatory environment. This includes both primary and secondary sources of tax laws. What are the primary sources of tax law?

Treasury 59

Treasury Technology 59

LaPorte

MARCH 14, 2023

(authored by RSM US LLP) The IRA enables tax exempt entities to realize liquidity for certain energy related credits and incentives. The post Tax-exempt organizations: Clean energy incentives and direct pay first appeared on LaPorte.

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ThomsonReuters

APRIL 2, 2024

While the exact details of the investigation remain undisclosed, the IRS’s involvement suggests potential tax evasion and money laundering charges. In the case of the investigation into Shohei Ohtani’s former interpreter, the IRS’s involvement suggests that there may be evidence of tax evasion or money laundering.

Banking 105

Banking Technology 105

LaPorte

DECEMBER 22, 2022

(authored by RSM US LLP) Businesses must deal with several unfavorable tax changes now that Congress has not addressed key tax issues in a year-end omnibus package. The post No year-end tax package leaves businesses with unfavorable changes first appeared on LaPorte.

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Henry Horne

NOVEMBER 18, 2022

Did you know that when it comes to dealing with the IRS, you have the right to retain an authorized tax representative? Common representatives include attorneys, certified public accountant and enrolled agents. If you can’t spare the price for representation, the Low Income Taxpayer Clinic (LITC) is a resource for those who need help.

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LaPorte

MARCH 21, 2023

(authored by RSM US LLP) Taxpayers intending to treat cash advances as debt for tax purpose should ensure the debt is properly documented, as illustrated by a recent ruling. The post Tax Court denies bad debt deduction; advances were equity and not debt first appeared on LaPorte.

Equity 52

Equity 52

Harvard Corporate Governance

MAY 17, 2022

These comments relate solely to the Prohibited Activity Rules that would forbid the following terms and conditions in investor advisory agreements: “Charging certain fees and expenses to a private fund or portfolio investment, including accelerated monitoring fees; fees or expenses associated with an examination or investigation of the adviser or its (..)

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Compliance Equity 213

LaPorte

JANUARY 3, 2023

(authored by RSM US LLP) A summary of important state and local income tax updates enacted during the quarter ending Dec. 31, 2022, which may impact the computation of current and deferred tax provisions under ASC 740. The post State income tax law changes for the fourth quarter of 2022 first appeared on LaPorte.

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LaPorte

NOVEMBER 1, 2022

(authored by RSM US LLP) Tax considerations to help your business fight economic factors that could lead to a recession. The post Business tax considerations amid economic headwinds first appeared on LaPorte.

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LaPorte

OCTOBER 3, 2022

(authored by RSM US LLP) A roundup of global income tax considerations and changes in tax law for corporations preparing income tax provisions under ASC 740 for the third quarter of 2022. The post ASC 740 Q3 2022 provision considerations first appeared on LaPorte.

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ThomsonReuters

JULY 10, 2023

Jump to: What is use tax? Sales tax vs. use tax Summary Sales tax and use tax are important sources of revenue for the government but properly calculating, collecting, and reporting these taxes can quickly get complicated. What is use tax? How does use tax work? What is nexus?

Compliance 98

Compliance Marketability 98

ThomsonReuters

AUGUST 25, 2023

Jump to: How does depreciation affect corporation taxes? What is the depreciation guidance for corporate alternative minimum tax? With tax obligations on the rise, your role as a trusted advisor is bound to grow in importance. Furthermore, 73% said they expected their total tax liability to increase over the next 12 months.

Treasury 98

Treasury 98

LaPorte

OCTOBER 19, 2022

(authored by RSM US LLP) IRS releases inflation adjustments for 2023. Inflation adjustments impact individual tax brackets and other various provisions of the Code. The post IRS releases 2023 tax inflation adjustments first appeared on LaPorte.

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LaPorte

OCTOBER 3, 2022

(authored by RSM US LLP) A summary of important state and local income tax updates enacted during the quarter ending Sept. 30, 2022, which may impact the computation of current and deferred tax provisions under ASC 740. The post State income tax law changes for the third quarter of 2022 first appeared on LaPorte.

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LaPorte

JULY 19, 2022

(authored by RSM US LLP) Tax planning strategies can help businesses experiencing higher interest expense due to inflation, increased interest rates and lower tax deductions. The post Tax planning interest rates climb interest expense deductions decrease first appeared on LaPorte.

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ThomsonReuters

JULY 1, 2022

A number of these penalties can come from the IRS, including a failure to: file a return on time, pay a tax on time, prepare an accurate return, and provide accurate information returns. Forms W-2 (Wage and Tax Statement) must be filed with the Social Security Administration (SSA) by January 31 of the following tax year.

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Start-ups Compliance 89

ThomsonReuters

JANUARY 30, 2024

Over the next few years, dozens of countries will be rolling out mandates for e-invoicing and continuous transaction controls (CTCs) as part of a global trend toward the complete digitalization of tax reporting and remittance. What’s a tax director to do?

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Compliance 52