Newsletters

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  • Final IRS regs kill foreign goodwill exception, limit active trade or business exception February 15, 2017 The IRS issued final regs that affect U.S. taxpayers who transfer property to foreign corporations in nonrecognition transactions. The regs are aimed at preventing taxpayers from avoiding recognition of gains or ...
  • “Google Tax” goes into effect in Russia February 15, 2017 Moscow enacted a law ordering certain foreign companies engaged in online sales of electronic content in Russia to pay the value-added tax (VAT). The law, informally known as the “Google Tax,” ...
  • CRS examines global corporate tax issues on the brink of likely reform February 15, 2017 With Donald Trump firmly in office as the U.S. president, and a Republican majority in Congress, it’s widely expected that 2017 will bring significant tax reform. The Congressional Research Service (CRS) ...
  • Hardship withdrawal programs require strict administration February 14, 2017 Although not required, most 401(k) plans feature a hardship withdrawal option. The IRS maintains strict rules surrounding these provisions and recently updated its guidance on how plan sponsors can remedy ...
  • COMPLIANCE ALERT February 14, 2017 Upcoming compliance deadlines: 2/15     Quarterly benefit statements due for defined contribution plans with calendar year plans 2/28     Deadline for filing paper 2016 Form 1099 with IRS (electronic filing deadline is March ...
  • Who’s to blame? Court equitably apportions fiduciary misdeeds February 14, 2017 When a fiduciary breach occurs, some fiduciaries may be more culpable than others. And when that’s the case, the court can order those parties to indemnify other fiduciaries who were, ...
  • Get your fiduciary house in order: DOL’s newest regulations require plan sponsor action February 14, 2017 The majority of the U.S. Department of Labor’s (DOL’s) complex regulations mandating fiduciary status for individuals dealing with retirement investment decision-making involve investment advisors. But the regulations, which are scheduled ...
  • UK Treasury gets power to require public CbC reporting (2) January 18, 2017 The UK Parliament unanimously approved country-by-country (CbC) reporting of taxes paid by multinational corporations. The move gives the UK Treasury the power to require multinational groups to publish, as part of ...
  • UK Treasury gets power to require public CbC reporting January 18, 2017 The UK Parliament unanimously approved country-by-country (CbC) reporting of taxes paid by multinational corporations. The move gives the UK Treasury the power to require multinational groups to publish, as part of ...
  • FASB Overhauls Not-for-Profits' Accounting Standards October 27, 2016 The Financial Accounting Standards Board (FASB) recently issued the first major accounting changes for the not-for-profit sector in more than two decades. Just about every not-for-profit organization — including charities, universities, ...