Ask the Experts
Practical Insights for Combatting New York’s Expansion of Sales Tax Law
The Experts: Zach Gladney and Matthew Hedstrom
Much has been written about the New York State Department of Taxation and Finance’s positions on the taxation of software, software as a service (SaaS), and other software-based services. The critiques have concerned, in part, the department’s guidance on the sales and use tax consequences of cloud computing and other… Read more »
Refund Claims—Don’t Leave Money on the Table
The Expert: Rob Kovacev
Refund claims for open tax years are an often overlooked opportunity to ensure that a taxpayer takes advantage of tax benefits to which it is entitled. The recent tax reform legislation makes refund claims more valuable, particularly for tax benefits that will be reduced or eliminated beginning in 2018. It… Read more »
Elevating Examination Concerns Within the New LB&I
The Expert: Rosemary Sereti
For contentious U.S. federal tax issues, tax controversy management tends to follow a horizontal path from examination to appeals and finally litigation. The likelihood of being embroiled in a contentious issue increased recently as the Internal Revenue Service’s Large Business & International (LB&I) Division announced another round of campaigns. Campaign… Read more »
An End-of-Examination Checklist
The Expert: S. Starling Marshall
Nearing the end of an Internal Revenue Service exam cycle can feel like time to wrap up the process quickly and move on to the next task and then the next cycle. However, considering a few things to do now can result in a faster, more successful resolution of issues… Read more »
State Tax Matters for Foreign Corporations
The Experts: Maria Todorova and Eric J. Coffill
The Experts: Maria Todorova and Eric J. Coffill Even though state taxation has moved away from the worldwide unitary method, with Alaska being the only state currently requiring use of the worldwide unitary method and only then regarding oil and gas corporations, there are still many situations where non-U.S. companies… Read more »
Practical Implications of New Partnership Audit Rules
The Experts: Michael Hauswirth, Todd McArthur, and Adam Feuerstein
Ignore the new partnership audit rules at your own peril. Absent an election of earlier application, they take effect for tax years beginning in 2018. Under the new rules, the Internal Revenue Service (IRS) generally will collect tax at the partnership level on adjusted partnership items at the highest corporate… Read more »
Tax Reformers Consider Cash Flow Business Taxes, VATs, and Integration
The Expert: Harry L. (Hank) Gutman
In the last Congress, tax reformers considered cash flow business taxes, VATs, and integration as part of potential business tax reform. What’s the Outlook for Congressional Tax Reform? The second session of the last Congress saw some positive developments in the seemingly never- ending quest for business income tax reform.… Read more »
The New Partnership Audit Rules
The Expert: Kathryn Keneally
The Bipartisan Budget Act of 2015, signed into law November 2, 2015, repealed the long-standing audit and litigation procedures for partnerships that had been enacted in the Tax Equity and Fiscal Responsibility Act of 1982 and created a statutory framework for new partnership audit rules. The new partnership audit rules… Read more »
The IRS, Privilege, and Transparency
The Experts: Todd Welty, Mark Thomas, and Kevin Spencer
The IRS has imposed increasing disclosure demands on large, multinational taxpayers, requesting filing of a slew of additional documents and forms. Question: How will the Schaeffler case affect the IRS’ ability to require additional disclosure documents from taxpayers? Answer: In the last decade, the Internal Revenue Service (IRS) has shifted… Read more »
Canadian Tax Collection Provisions
The Expert: Blake Murray
A Canadian income tax assessment or GST/HST assessment triggers an immediate payment obligation and is subject to collection action by the Canada Revenue Agency (CRA), notwithstanding that the taxpayer is formally disputing the assessed amounts. It is important for taxpayers facing large Canadian tax assessments or negotiating indemnification provisions in respect… 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…
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)…
Preparing for Successful SALT Audits Audit preparedness is crucial, since federal and state agencies have…