Tax & Accounting Blog

U.S. FY2017 Budget Includes BEPS-Related Proposals

U.S. FY2017 Budget Includes BEPS-Related Proposals

On February 9, 2016, President Obama submitted the Administration’s FY 2017 budget proposals to Congress. The budget included a number of international tax proposals that are similar to the FY 2016 proposals, specifically related to BEPS, including the following: Restrict deductions for excessive interest of members of financial reporting groups Limit shifting of income … Read More

Questions about ACA ALE Reporting Requirements? Checkpoint Has the Answers.

Questions about ACA ALE Reporting Requirements? Checkpoint Has the Answers.

Under the Affordable Care Act (ACA), is your business client an Applicable Large Employer (ALE)? Should they be preparing to file Form 1095-C and Form 1094-C? Yes? No? Not sure? We asked our experts at Thomson Reuters Checkpoint the top 3 questions tax practitioners may have regarding the new ACA reporting requirements for large … Read More

Important Information about Affordable Care Act Forms

Important Information about Affordable Care Act Forms

On December 28, 2015, the IRS granted an extension to insurers, self-insuring employers, other coverage providers and applicable large employers for providing the new health care information reporting forms in 2016. These groups now have additional time to provide the following 2015 health coverage forms to individual taxpayers and the IRS. 1095-B, Health Coverage (includes … Read More

States Implement New Identity Verification Requirement for E-Filed Tax Returns

States Implement New Identity Verification Requirement for E-Filed Tax Returns

In the ongoing effort to combat widespread identity theft and the fraudulent filing of tax returns, many states will now require taxpayers to provide a new piece of personal identification: their driver’s license number (DLN). Some states may also request related information, such as the issuing state, date of issue and expiration date. As a … Read More