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1745

1042/1042-S-Related Penalties

By Paula Singer On May 17, 2013 · Add Comment - Blog, ONESOURCE, ONESOURCE Nonresident Alien Taxation -
The IRS enforces compliance with withholding obligations by collecting the under-withheld tax from payers who fail to meet their obligations to withhold and timely pay over withheld taxes. Assessments are increased for penalties as provided by the Code1 (and explained in the instructions for the various forms) and for interest computed on the taxes and [...]
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Food is money and money is food.

Massachusetts Restaurant Sales Tax Holiday?

By Tyler Nelson On May 17, 2013 · Add Comment - Indirect Tax, ONESOURCE, Sales and Use Tax, Transaction Tax -
Massachusetts House Bill 2688 is proposing a sales tax holiday for meals purchased at restaurants. Reps. Keiko Orrall and Claire Cronin are sponsoring the bill which originally aimed at holding the sales tax holiday March 24-28, 2013. However, the bill has just recently picked up steam and Rep. Orrall has recommended holding [...]
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dc energy

District of Columbia — Energy Innovation and Savings Amendment Act of 2012

On May 15, 2013 By Heather Nuzzo
Effective 03/19/2013, the following items are exempt from personal property tax: Systems exclusively using solar energy Cogeneration systems that produce two forms of energy for industrial, commercial, heating or cooling purposes. Cogeneration systems will be exempt beginning October 1, 2016.
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1813

IRS Private Rulings on Tax Reporting of Account-opening Bonus Payments for IRAs and 529 Plans

On May 15, 2013 By Marianne Couch
The Internal Revenue Service has issued two private letter rulings concerning the reportability of a cash bonus credited to a customer’s IRA account – or to a section 529 higher education savings plan account – as an account-opening incentive. In both rulings, the IRS held that an IRA new-account incentive bonus required no 1099 reporting. [...]
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TR3

Benefits of Using an External Tax Engine with SAP

On May 15, 2013 By Carla Yrjanson
SAP users like Lenovo are all gathered at the SAPPHIRE NOW & ASUG Annual Conference in Orlando, FL the biggest SAP Conference of the year. Learn “How Lenovo Used a Hybrid Approach to Streamline Its Tax and Auditing Processes”. Visit Thomson Reuters at booth #1820 as we highlight our new version [...]
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PropertyTaxCut_304

West Virginia – Real and Personal Property Valuation

On May 14, 2013 By Heather Nuzzo
Effective 4/13/2013, the Department of Revenue now has authority to broadcast legislative rules in regards to commercial and industrial real and personal property valuations as they pertain to ad valorem taxes.
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