The New Corporate Alternative Minimum Tax: Five Not-So-Obvious Rule Applications to Consider
Like it or not, the CAMT rules have unexpected applications and potentially problematic effects
Editor’s note: This article was written in mid-December 2022. It is expected that by the time of publication, the US Department of Treasury and the Internal Revenue Service may release guidance to address some issues this article discusses. The corporate alternative minimum tax (CAMT) was enacted as part of the…
TEI Comments on OECD Consultation on Pillar One, Amount B
On January 25, TEI submitted comments to the Organisation for Economic Co-operation and Development (OECD) regarding the OECD’s public consultation on the design elements of Pillar One, Amount B. TEI’s comments included the need to broaden the scope of Amount B to achieve its goal of transfer pricing simplification, ensure… Read more »
2023 State Tax Changes
Thirty-eight states rang in the new year with significant changes to their tax codes. Most of these state-level changes were spurred by a wave of rate reductions and other tax cuts over the past two years, greater tax competition during a time of greater mobility, and, of course, inflation, according… Read more »
TEI Submits Comments on Proposed Changes to Schedule UTP
On November 17, TEI submitted comments to the Internal Revenue Service on proposed changes to Schedule UTP. The comments identified various critical policy issues that must be evaluated in a thoughtful and deliberative manner and urged the IRS to put an indefinite hold on the proposed changes and engage in… Read more »
Intangible Asset Valuation for Tax Purposes Under Fair Market Value and Arm’s-Length Standards
Some differences between the two approaches
Business transactions such as mergers, acquisitions, and business reorganizations often require valuations of intangible assets. Applying different standards may result in different valuations for the same intangible asset. It is therefore important to identify the appropriate valuation standard before attempting any valuation of an intangible asset. Significant differences may arise…
Continuing Education Calendar
2023 Tax Technology Seminar April 24–26 San Diego, CA Leadership Foundations Seminar June Virtual Federal Tax Course – Level 1 June 12–16 East Lansing, MI Federal Tax Course – Level 2 July 17–21 Atlanta, GA Annual Meeting of Members August 6–8 Newberg, OR US International Tax Course August 13–18… Read more »
Embracing ESG: Four Ways Tax Departments Can Add Value
Leaving tax departments out of the discussion is unfortunate—and often costly
Environmental, social, and governance (ESG) considerations command a continually growing share of attention in organizations of all types as various stakeholder groups sharpen their focus on sustainability, equity, and accountability. Today more and more investors, consumers, and employees make decisions based on an organization’s ESG strategy, policies, and actions. As…
TEI Submits Comments on the Capitalization of R&E Expenditures Under Section 174
On December 9, TEI submitted written comments to Congress regarding the changes to Section 174 under the Tax Cuts and Jobs Act of 2017. The comments urged Congress to act before the end of the 2022 calendar year to postpone, if not repeal, the mandatory capitalization of expenditures under Section… Read more »
TEI Comments on OECD Pillar Two GloBE Information Return Consultation
On February 3, TEI submitted comments to the Organisation for Economic Co-operation and Development (OECD) regarding the GloBE Information Return under Pillar Two of the OECD’s project on the digitization of the economy. The Institute’s comments primarily focused on ways to reduce the volume of information required under the return,… Read more »
Acknowledgments
TEI gratefully acknowledges the support of its sponsors. Their financial support enables TEI to maintain a rich program of value-added education, networking, and advocacy activities for the in-house tax community. Exclusive Affinity Partner Thomson Reuters Platinum ADP Inc. Andersen Baker McKenzie Bloomberg Tax & Accounting Crowe LLP CSC Corptax Deloitte… Read more »
AI in the Tax Department: Getting Tax a Seat at the Table Artificial intelligence (AI) is reshaping business functions rapidly, yet many…
TEI Roundtable No. 51: The Future Corporate Tax Department As tax moves into the future, in-house professionals are experiencing…
The Impact of AI in R&D Tax Credits For the last several years we’ve heard that artificial intelligence…
Making Sense of CAMT Complexity The corporate alternative minimum tax (CAMT) under Section 55 of…
Question: What Are the Key Updates in the FASB Income Tax Disclosure Requirements? In 2023, the Financial Accounting Standards Board (FASB) issued Accounting Standards…
Breaking Down Real-Time Controls in Global Tax As governments implement digital approaches to tax filing, reporting, operations,…