GloBE Meets GILTI—Part Two
What’s the status of implementation?
Our article, “GloBE Meets GILTI,” which appeared in the January/February issue of Tax Executive, addressed how taxes on global intangible low-taxed income (GILTI) might be allocated. Sadly, the story was already out of date by publication. This follow-up article addresses not the possibilities, but rather what the Organisation for Economic…
Ethics and Privilege in the Tax Kingdom
Yes, there is a difference between attorneys and CPAs when it comes to privilege
Ethics and privilege play key roles in tax, and technology can be a factor to consider, too. To wade into this quagmire, Tax Executive’s senior editor, Michael Levin-Epstein, sat down (virtually) with a recognized expert in the field, Dan Ermel, a partner at RSM US LLP. Michael Levin-Epstein: Is there…
Lefteris (LT) Toras
New Orleans/Gulf States Chapter
Editor’s note: The interview for this Chapter Leader article took place prior to the April 19 New Orleans/Gulf States Chapter event. TEI’s New Orleans Chapter had been dormant for a few years. Then, in 2022, Lefteris Toras, who goes by LT, met Tanya Coogan, Mitch Trager, and Wayne Hamilton at…
Tax Credit Investments
The Expert: Paddy O’Brien
Tax credit investments play an important role in strategic planning for tax professionals. We wanted to delve deeper into the crevices of this issue and turned to Paddy O’Brien, vice president of investments at Foss & Co., for answers. Tax Executive’s senior editor, Michael Levin-Epstein, interviewed O’Brien in February. Michael…
Bloomberg’s 2022 Tax Department Trends
Bloomberg Tax recently released results from its 2022 Corporate Tax Department Benchmark Survey, titled “The Trends Shaping Tomorrow’s Tax Function.” Among the greatest challenges, Bloomberg found, were the perpetual juggling act related to compliance, staffing, and economic uncertainties; worries about risk; cost reduction; expanded involvement in nontax financial issues; understaffing;… Read more »
Continuing Education Calendar
2023 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 7–9 Newberg, OR US International Tax Course August 14–18 Atlanta, GA 2023 Annual Conference… Read more »
TEI Diversity, Equity, & Inclusion Survey Results
Uncovering root challenges in recruiting and retaining talent
The many benefits of a diverse and inclusive workplace include increased revenue, improved employee engagement, and more innovation. Despite the great strides that have been made in driving awareness of the importance of diversity, equity, and inclusion (DEI) in the workplace, much work still needs to be done within the…
TEI Submits Comments on Notice 2023-2 and the Stock Repurchase Excise Tax
On March 20, TEI submitted comments in response to a request for comments in Notice 2023-2, which provided guidance on the stock repurchase excise tax. The comments requested carve-outs from the tax for redemptions of nonparticipating, nonconvertible preferred stock and addressed the funding rule and related per se rule that… Read more »
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 »
AI in the Tax Department: Getting Tax a Seat at the Table Artificial intelligence (AI) is reshaping business functions rapidly, yet many…
Planning for IRS Audits in an Era of Uncertainty In its ongoing crusade against so-called “basis-shifting” transactions, the Internal…
Transfer Pricing and Valuation in Financial Transactions Business transactions such as mergers, acquisitions, and reorganizations often necessitate…
TEI Roundtable No. 53: Using AI for Tax Law Research As artificial intelligence continues its scorching rise, in-house tax professionals…
Andreia Verissimo Andreia Verissimo, the senior manager for US tax policy at…
TEI Roundtable No. 52: FASB Accounting Standards Update 2023-09—Income Taxes (Topic 740) As financial reporting evolves, the Financial Accounting Standards Board (FASB)…