Pillar 2: Time for US multinational enterprises to act
Large U.S. multinationals can take steps now to assess the potential impact of the global top-up corporate tax system that appears on the verge of being implemented.
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Large U.S. multinationals can take steps now to assess the potential impact of the global top-up corporate tax system that appears on the verge of being implemented.
Many Code provisions apply only to a “trade or business.” This article discusses the various tax consequences when an activity fails the relevant test and is instead deemed a hobby or investment.
Being familiar with the taxpayer rights provisions can be helpful because the manual is essentially an employee handbook that IRS employees must follow.
In the long run, an agreement with a taxing authority is often a wiser choice than traditional compliance and dispute resolution methods.
Did a client finally hit their lucky number? Here’s why you should convince them to elect installment payments over the lump-sum option if they win millions in the lottery.
For companies that engage in intercompany transactions, being proactive in preparing for disruptions and regulatory changes is essential.
Businesses are likely to find themselves at a competitive disadvantage if they don’t keep abreast of tax aspects of ESG.
Much confusion surrounds the rules governing which wages can be used to claim the ERC and R&D tax credits.
The federal opportunity zone program creates jobs and improves communities, and the tax benefits for investors remain substantial.
What partnerships, S corporations, and others with foreign partnership interests need to know for tax year 2021 and beyond.
Mortgage REITs have numerous tax advantages over C corporations and partnerships with respect to operating and investing in debt securities.
The opportunity zone program offers a solution for deferring gains and allows investors to diversify into real estate or operating businesses.
These trusts can be advantageous to wealthier clients, but their future use in estate planning is threatened by current legislative proposals.
Donor-advised funds have increased in popularity because of recent legislative changes that affect charitable giving.
With potential tax hikes looming, CPAs can help clients manage capital gains taxes with the right strategy.
The IRS’s release of Notice 2021-49 provides employers with additional guidance on issues of the employee retention credit.
This article discusses issues that have evolved around FDII where there has been little guidance and outlines ways to better take advantage of the FDII regime.
While the impact of lost wages and retail receipts was felt almost immediately in city coffers, property assessments are only now starting to take effect — and most assessors have massive budget holes to fill.
This guide provides tax preparers an outline of questions to ask clients when evaluating HVAC repair costs.
This article addresses certain aspects of the withholding rules of the final Sec. 1446(f) regulations, options to eliminate or reduce Sec. 1446(f) withholding, and some outstanding issues.
DEDUCTIONS
Business meal deductions after the TCJA
This article discusses the history of the deduction of business meal expenses and the new rules under the TCJA and the regulations and provides a framework for documenting and substantiating the deduction.
TAX RELIEF
Quirks spurred by COVID-19 tax relief
This article discusses some procedural and administrative quirks that have emerged with the new tax legislative, regulatory, and procedural guidance related to COVID-19.