Search Results

Most CFOs and tax directors are familiar with the concept of nexus in the context of state tax but many people remain confused. In this issue, we take a high-level look at three key areas greatly impacting businesses that have multistate operations.

You can read the one-page summary and a concise summary of the plan, in this article from Bloomberg. In addition, a White House statement from National Economic Council Director Gary Cohn provides additional detail into the elements of the proposal.

Earlier this year, the IRS Large Business and International division announced its initial set of 13 campaigns under its new audit approach. Accordingly, on November 3, the IRS identified 11 additional campaigns (with more to come). They are as follows.

The new tax proposal would have the courts decide all relevant questions of law made by agencies. The repeal of Chevron deference would significantly shift the authority on tax (and other regulatory) matters from government agencies to the courts.

At this time of the year, Americans are focused on taxes. So, it is appropriate to consider what the inherent risk is of IRS audit. The IRS issues an annual Data Book (Publication 55B) that can provide insight. Here are some highlights.

Tax reform is being held hostage by efforts to repeal and replace the Patient Protection and Affordable Care Act, which is currently ahead of tax reform in the legislative queue and may well require a reconciliation bill to get enacted.

Starting January 2018 the IRS announced that Model 1 foreign financial institutions must also provide the Taxpayer Identification Numbers of U.S. account holders as part of their IDES data submissions. This additional requirement may prove onerous.

Welcome to our inaugural newsletter for tax professionals and business leaders. EisnerAmper’s Business Tax Quarterly offers news and views on various topics throughout the year. And watch for our Tax Alerts that cover “breaking news.”

With the unanticipated withdrawal of health care legislation and what appears to be the demise of that legislation, public attention is now focused on major tax reform. There are so many unknowns which will impact the road to tax law change.

Our tax guide is meant to assist with the preparation of your 2016 income tax returns and to plan for 2017 and beyond. Because of the possibility of tax reform, please be sure to check in with us before proceeding with any tax planning transactions.

Many companies get tangled up in Section 382 of the U.S. Tax Code governing the handling of tax carryovers when there’s been a change of ownership. EisnerAmper's Jeffrey Kelson, a Section 382 expert, walks us through the intricacies.

The IRS indicates that it intends to challenge the purported tax benefits of the transaction based on the overvaluation of the conservation easement, as well as on the partnership anti-abuse rule, economic substance or other rules or doctrines.

Both President-elect Trump and Ways and Means Committee Chairman Ryan have presented their ideas for tax reform. The corporate and international provisions are here provided.

The IRS issued final regulations under § 367 that now tax the transfer of certain intangible property - foreign goodwill and going concern value - transferred from a U.S. person to a foreign corporation under a nonrecognition provision.

In Notice 2016-66, the Treasury and IRS identified certain transactions involving small captive insurance companies as a 'transaction of interest.' Rules for providing disclosure of the transaction of interest were described in that guidance.

Any future reduction in business tax rates could have a beneficial impact on most corporations' bottom lines. However, corporations that have net-deferred tax assets recorded in their balance sheets could experience a substantial one-time hit to their P&Ls.

President Trump signed an executive order requiring government agencies to identify two prior regulations for elimination for every new regulation issued. The impact of this order on the orderly administration of federal tax law could be significant.

Automation is increasingly viewed as an efficient means of accounting for cash flow, repatriation income, and new state tax liabilities. The need for real-time, predictive modeling that automation affords will only grow.

In Alerts from February and December, we reported on the IRS Large Business and International division’s first two sets of campaigns under its new issue-based audit approach. On March 13, LB&I announced five additional compliance campaigns.

Stock option compensation is a popular perk of working for a startup company. Most early-stage companies set aside a tranche of corporate shares to offer to employees in the form of stock options. Taxpayers would be able to exercise ISOs tax-free.