Rethinking international penalty administration
Maintaining integrity in tax administration often requires the use of penalties to encourage voluntary compliance....Defining software development costs
The law known as the Tax Cuts and Jobs Act (TCJA), P.L. 115-97, eliminated the...Aggregation rules affecting foreign-owned companies
Multinational businesses headquartered overseas customarily conduct operations in the United States via local subsidiaries. These...Filing Your Startup’s Tax Return for the First Time
Filing a return for a startup for the first time can be overwhelming considering everything...State Sales Tax Compliance for Startups
Startups face a number of challenges from hiring qualified employees, to research and development, to...Do Startups Need Audited Financial Statements?
By law private companies are not required to undergo an annual audit of financial statements...Redetermining foreign taxes in a post-TCJA world
The foreign tax redetermination (FTR) rules under Sec. 905(c) apply to taxpayers who accrue foreign...Managing tax audits using sampling techniques
Sampling is a tool that is generally used whenever there is a list of records,...Taxation of employees’ use of corporate apartments
Taxable compensation from use of an employer-provided corporate apartment Absent an applicable exclusion, the fair...Tax fraud and bankruptcy dischargeability
The federal laws governing bankruptcy and taxation often intersect, although their makeup, effectiveness, and interpretation...Nonwillful FBAR penalties apply per report, not per account
The Supreme Court, in a 5–4 decision, held that the penalty under Section 5321 of...M&A pitfalls for deferred research expenditures
Effective for amounts paid or incurred in tax years beginning after Dec. 31, 2021, the...Archive
January 11, 2023
On Aug. 15, 2022, the IRS announced (Notice 2022-34) that it intends to defer by one more year the applicability... Read more
January 11, 2023
On Aug. 16, 2022, President Biden signed into law the Inflation Reduction Act, P.L. 117-169. For applicable corporations that report... Read more
January 11, 2023
The IRS issued a memorandum to all Large Business & International Division and Small Business/Self-Employed Division examination employees to communicate... Read more
January 9, 2023
On December 30, 2022, the 38th meeting of the Standing Committee of the Thirteenth National People's Congress adopted a decision... Read more
December 29, 2022
On December 27, the draft value-added tax law was submitted to the Standing Committee of the National People's Congress for... Read more
June 3, 2022
On June 3, 2022, 28 Chief Financial Officers (CFOs) of major U.S. corporations (see notes for a list) signed a letter to U.S. Treasury Secretary... Read more
May 29, 2022
The collection of inheritance tax The inheritance tax originated in ancient Egypt more than 4,000 years ago. The purpose of the... Read more
May 19, 2022
For a long time, the different requirements of customs valuation and tax transfer pricing have brought many problems to the... Read more
May 18, 2022
Introduction After years of intensive negotiations to update and fundamentally reform international tax rules, 137 jurisdictions within the G20/OECD Inclusive... Read more
May 13, 2022
Source: China Tax News Data from the National Bureau of Statistics shows that in the first quarter of 2022, my... Read more