Tax & Accounting Blog

Resolute Forest Products Selects Thomson Reuters to Consolidate its Canadian and US Sales and Use Tax Determination

Resolute Forest Products Selects Thomson Reuters to Consolidate its Canadian and US Sales and Use Tax Determination

New York, January 8, 2013 – The Tax & Accounting business of Thomson Reuters announced today that Resolute Forest Products (http://www.resolutefp.com), has selected ONESOURCE Indirect Tax Determination to be the platform for its Canadian transaction taxes, and sales and use tax determination, calculation, and recording operations.  Full press releaseRead More

Alabama’s Second Annual ‘Severe Weather Preparedness’ Sales Tax Holiday

Alabama’s Second Annual ‘Severe Weather Preparedness’ Sales Tax Holiday

February 22-24, 2013, Alabama will be having their second annual ‘Severe Weather Preparedness’ Sales Tax Holiday.  In 2012 the sales tax holiday was held July 6-8, as legislation permitted, but from 2013 on, the sales tax holiday will be supported in February.  Counties, cities, and Alabama’s few local districts have the option to participate or not, but … Read More

New rules for Roth account conversions in retirement plans

New rules for Roth account conversions in retirement plans

The new American Taxpayer Relief Act, signed by the President on January 2, includes a change for Roth individual retirement accounts in employer plans.  The Act provides that, effective for transfers made after December 31, 2012, in taxable years ending after December 31, 2012, a broader range of amounts in employer-sponsored tax-deferred retirement plans may … Read More

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North Carolina Requires New NC-4P Withholding Documentation for Pension and IRA Distributions

Due to changes in North Carolina income tax law, recipients of pension or annuity payments must complete and provide to their payer a new Withholding Certificate for Pension or Annuity Payments, Form NC-4P, in order to withhold the correct amount of North Carolina income tax for pension payment periods beginning on or after January 1, … Read More