Tax & Accounting Blog

Direct Tax Blog Series Part 2: Building a Strong Data Collection Framework

Direct Tax Blog Series Part 2: Building a Strong Data Collection Framework

Our five-part direct tax blog series will offer insights from our experts on how to improve each key area of your direct tax process— from data preparation to reflection and analysis. If you haven’t already, check out the first part of our blog series on streamlining calendar and task management. It almost … Read More

Direct Tax Blog Series Part 1: How to Streamline Data, Process, and Calendar Management

Direct Tax Blog Series Part 1: How to Streamline Data, Process, and Calendar Management

Our 5-part Direct Tax blog series will offer insights from our experts on how to improve each key area of your direct tax process— from data preparation to reflection and analysis. In conversations with tax departments, here’s the challenge that rises to the top: Tax must connect several departments, often in various countries or regions, … Read More

How can tax and accounting professionals manage their workpapers?

How can tax and accounting professionals manage their workpapers?

Did you know…? Tax is the primary cause of control deficiencies. Managing risk through the adherence of controls is a key objective of a tax professional. A recent study of nearly 400 tax departments from public and private corporations revealed numerous concerns around workpaper efficiency and controls. Tax professionals spend 30% to 60% of their … Read More

Indiana changes in state income tax withholding deposit and reporting

Indiana changes in state income tax withholding deposit and reporting

If you withhold Indiana personal income tax from retirement distributions, be alert for procedural changes in remitting and reporting to the Indiana Department of Revenue in 2013.  Effective January 1, 2013, all entities that withhold Indiana income tax must remit the withheld taxes electronically and file the withholding report WH-1 electronically.  Electronic filing and reporting … Read More

FATCA: Switzerland and Japan sign statements for cooperation with the U.S. in FATCA implementation

FATCA: Switzerland and Japan sign statements for cooperation with the U.S. in FATCA implementation

The United States Treasury Department has issued a joint statement with Japan, and a joint statement with Switzerland, for intergovernmental cooperation in the implementation of the U.S. Foreign Account Tax Compliance Act (FATCA).   In both Japan and Switzerland, financial institutions may not be able to comply with all of the reporting, withholding and account closure … Read More

New French Law on the Taxation of Trusts

New French Law on the Taxation of Trusts

On July 29, 2011, France enacted a new law on the taxation of trusts. Under the new law, a trustee must disclose certain information about the trust if the trust has a French settlor, beneficiary or French assets. The trustee must file the disclosure by June 15. The government was to provide further details on how to … Read More