Features
The Sixth Circuit’s Whirlpool Opinion—What’s the Impact?
Ruling disregards regulatory manufacturing exception but preserves right to rely on regulations in applying branch rule
The US Court of Appeals for the Sixth Circuit issued a majority opinion in Whirlpool Financial Corporation & Consolidated Subsidiaries v. Commissioner1 that disregards the regulatory manufacturing exception to foreign base company sales income (FBCSI). That said, taxpayers still have the right to rely on the regulations in applying the… Read more »
Demystifying the Settlement of California Tax Controversies
Perhaps the most unique—and surprising—aspect of the California administrative settlement process is the designated agency settlement bureau structure
California is a state of overflowing abundance. From technology to entertainment to produce, the state has it all and then some. So when it comes to tax agencies, why would California stop at one? Most states have a single department of revenue, finance, or taxation, but California has five tax… Read more »
TEI Roundtable No. 38: The Tax Department of the Future
The more things change (and they definitely are changing), the more things will change some more
What does the tax department of the future look like? Not easy to predict, right? At the TEI Midyear Conference, we gathered a stellar panel to discuss crucial questions that impact every Institute member. Below is an edited transcript of half of that discussion, but not to worry. You… Read more »
You’ve Been Served: Defending Against a State Tax Class Action
Are you prepared for this rising threat to your business?
An email comes from the general counsel: your company has been sued by a customer who alleges that the company systematically overcharges sales tax.1 The complaint—the legal document that starts the lawsuit—contains multiple counts for various violations of state statutes and common law doctrines and demands damages, attorney’s fees, and… Read more »
Are There Any Tax Incentives Left for the Energy Industry?
Let’s face it—multiple challenges confront the industry
The US energy industry has faced many challenges in its history, from boom-and-bust oil prices to pressures from overseas oil producers to domestic government regulations. Today the industry continues to confront its share of challenges, including pressures to transition from fossil fuels to alternative renewable energy sources such as wind,… Read more »
Tips From The Art of War to Help in Your Research Credit Battle
Some may consider the IRS a nemesis, but your battle may be gathering the necessary data and documentation to calculate and support the credit
The legendary ancient Chinese general Sun Tzu has influenced Eastern and Western military thinking, coaching strategy, and now research tax credits.1 Some may consider the Internal Revenue Service a nemesis, but perhaps your own battle is to gather the necessary data or documentation to calculate and support the credit. To… Read more »
New Frontiers of Dispute Settlement in a Pillar One World—Part Two
The success of Pillar One largely depends on the effectiveness of dispute settlement disciplines
Part One of this article, which appeared in the March/April 2022 issue of Tax Executive, discussed the evolution of the international tax system leading up to the modern proposal to implement an OECD-championed multilateral tax treaty to bring order to an increasingly complicated and digitized world. The recent impetus to… Read more »
Much Ado, but Little New: A Guide to Section 951(a) After Build Back Better
What are the ramifications of Congress’ proposal?
The definition of “pro rata share” in Section 951(a)(2) is fundamental to the subpart F regime. That regime, of course, dates to the John F. Kennedy administration.1 Most words in current Section 951(a)(2) do, too. Though Congress amended Section 951(a)(1) on numerous occasions, it has left undisturbed the words of… Read more »
Disrupting the Norm: Using Technology to Reinvent State Tax Compliance
It’s time to free up capacity and deal with remote work
In the current business environment, the only constant in the face of major economic and societal shifts is dynamic change. As companies forge ahead, their tax departments increasingly lead the way in sustainably transforming their business models and their digital and strategic footprints. Tax leaders are remaking their technology infrastructures… Read more »
Obtaining IRS Refunds: Procedures and Strategies
It’s rarely as simple as you think
Uncertainty in tax law is reaching unprecedented levels. In the past four years, taxpayers have managed dramatic tax reform, pandemic-fueled emergency tax legislation, rafts of new Treasury Regulations (and accompanying challenges to some regulations), and increased aggressiveness by certain tax authorities. Tax departments now must be nimbler than ever as… Read more »
An Overview of the EU Public Country-by-Country Reporting Rules The European Union (EU) has long been at the forefront…
Optimizing Tax Through Structured Data Storage and Data Pipelines In today’s fast-paced digital business environment, tax departments are under…
Preparing Now for 2025 Tax Legislative Activity Editor's note: This article was finalized prior to President Donald…
TEI Roundtable No. 51: The Future Corporate Tax Department As tax moves into the future, in-house professionals are experiencing…
How Tax Insurance Can Be a Valuable Tool for Managing Transfer Pricing Risk in 2025 and Beyond Heightened regulatory scrutiny around the world has made transfer pricing…
TEI to Comment on New Proposed Section 987 Regulations The US Treasury Department and Internal Revenue Service published new…