News
UK Consultation for Digital Reporting and E-Invoicing
On May 1, TEI’s EMEA Indirect Tax and Customs Committee submitted a letter in response to His Majesty’s Treasury’s public consultation on real-time digital reporting and electronic invoicing. The letter expressed support for efforts to digitize and automate tax administration, including the adoption of e-invoicing. It also emphasized the importance… Read more »
Region 1
Holds 57th Annual Canadian Tax Conference in Ottawa
TEI Region 1 held its 57th Annual Conference from May 5 to 7 in Ottawa. Region 1 Vice President Mark Caluori, Canadian Commodity Tax Committee Chair Martin Behagg, Canadian Income Tax Committee Chair Sandy Shanks, and incoming Region 1 Vice President Polly Mah planned the conference, and TEI Executive Director… Read more »
Iowa Chapter
Honors Bob Birch Through Memorial Scholarship
Each year, TEI’s Iowa Chapter funds scholarships for juniors and seniors majoring in accounting at Iowa State University and the University of Northern Iowa who have shown interest in becoming tax professionals. The annual amount of the scholarship is typically $2,500 at each school. The Iowa Chapter is proud to… Read more »
TEI Comments—New Proposed Section 987 Regulations
On March 11, TEI filed comments with the Internal Revenue Service and the US Department of the Treasury regarding proposed regulations under Section 987, which were published on December 11. TEI’s comments included recommending that additional transactions be included in the recurring transfer group election under the proposed regulations, making… Read more »
British Columbia Minister of Finance Responds to TEI’s Submission on the Definition of Software for the PST
TEI received a letter from the British Columbia Minister of Finance in response to the Canadian Commodity Tax Committee’s March 29, 2024, submission. The committee had submitted a letter addressing the 2024 British Columbia Budget changes to the provincial sales tax (PST) definition of “software,” including the retroactive impact of… Read more »
CRA Responds to TEI’s Income Tax Questions From November Liaison Meetings
On November 19–20, a delegation of Canadian Commodity Tax Committee members participated in TEI’s annual liaison meetings with representatives of the Canada Revenue Agency (CRA) and Department of Finance. The 2024 meetings featured robust agendas covering a range of tax law, policy, and administration issues of importance to many TEI… Read more »
TEI Comments—Proposed PTEP Regulations
On March 2, TEI submitted comments regarding the long-awaited proposed previously taxed earnings and profits (PTEP) regulations. TEI’s comments focused on the need to eliminate double taxation of PTEP by recommending a change to the proposed regulations’ “share-by-share” approach to Section 961 basis increases. TEI recommended that Section 961 basis… Read more »
TEI Bestows President’s Award on Cathleen Stevens
One of the highest honors a TEI member can receive is the Institute’s President’s Award. At the 75th Midyear Conference in Washington, D.C., in March, TEI gave the President’s Award to Cathleen (Cathy) Stevens. Here’s a summary of Stevens’ impressive career and TEI service, as described by TEI’s international president,… Read more »
TEI Comments—OECD GIR XML Users’ Guide
On March 20, TEI submitted comments to an expert subgroup of Organisation for Economic Co-operation and Development (OECD) Working Party 10 regarding its GloBE Information Return XML Schema and User Guide, which was published on January 15. TEI’s comments focused on the need for the OECD to provide more information… Read more »
TEI Holds 75th Midyear Conference in Washington, D.C.
TEI’s 75th Midyear Conference, held at the Grand Hyatt Washington in March, brought together more than 300 in-house tax professionals, 135 speakers, and 40 exhibiting sponsors for an immersive experience designed to address the most pressing issues in today’s rapidly evolving tax landscape. This year’s Midyear Conference featured a comprehensive… Read more »
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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…