Tax & Accounting Blog

Form 8938 Guidance Issued

Form 8938 Guidance Issued

In December 2011, the IRS released the new Form 8938 used to report specified foreign financial assets. The form was released in response to the temporary regulations issued for IRC 6038D, as part of the larger crackdown on taxpayers with under reported foreign assets. The new form is filed with the taxpayer’s individual return if their specified … Read More

Indian Finance Bill May Have Chilling Effect on Investment

Indian Finance Bill May Have Chilling Effect on Investment

With economic growth running at an annual pace of more than 8 percent, the attraction of investing in India is obvious. And, for many companies, investing is India is no longer optional. However, recently  proposed  legislation may force companies to reevaluate their investment posture. Governments around the world facing budgetary crises are tightening transfer pricing regulations and strengthening … Read More

Why Hungry Governments Are Turning to Transfer Pricing

Why Hungry Governments Are Turning to Transfer Pricing

Accounting Today’s latest article Global Governments Are Getting Hungrier, takes a close look at top international tax issues and how the global economic slowdown and increasing budget deficits are causing governments to focus on transfer pricing for additional revenue. International tax experts like Head of Thomson Reuters ONESOURCE … Read More

TEI Wraps Up 62nd Midyear Conference in DC

TEI Wraps Up 62nd Midyear Conference in DC

4 Days, 500 tax professionals and 35 breakout sessions presented by dozens of industry leaders – together they’re a recipe for success at this week’s 62nd Midyear Conference in Washington, DC. Check out my video recap from the event. The conference kicked off with an engaging general session … Read More

Cracking Down on International Tax Loopholes- OECD Findings

Cracking Down on International Tax Loopholes- OECD Findings

Hybrid methods use by multinationals for tax evasion are likely to increase scrutiny and additional UTP concerns. This is the basis for the recent OECD report, Hybrid Mismatch Arrangements: Tax Policy and Compliance Issues.  The 27-page report  highlights the use of hybrid methods arrangements to exploit differences in tax … Read More

Do You Know Your Risk Profile?

Do You Know Your Risk Profile?

As we all know, every company is under constant pressure to perfectly manage its financial reporting obligations. For a tax department, its main responsibility for financial reporting is the Effective (income) Tax Rate (“ETR”).  Any movement of that rate, in this highly volatile stock market, can cause a negative impact to a company’s stock price. … Read More