Tax & Accounting Blog

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Bloomberg BNA Transfer Pricing Forum Examines Treatment of Secret Comparables

By Kevin Bell A survey of practitioners from 26 countries found that nine jurisdictions—Argentina, Australia, Canada, China, Germany, India, Italy, Mexico, and Switzerland—use secret comparables to varying degrees, in violation of Organization for Economic Cooperation and Development transfer pricing guidelines. However, the May survey by Bloomberg BNA’s Transfer Pricing Forum also found that Austria, Belgium, … Read More

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IRS Postpones Information Reporting by Domestic Entities for Specified Foreign Financial Assets

On January 23, 2013, the IRS issued Notice 2013-10. The Notice postpones the date that domestic entities, including trusts, will be required to report their interests in specified foreign financial assets on Form 8938. Background Code § 6038D was enacted by section 511 of the Hiring Incentives to Restore Employment Act (the … Read More

New Regulations For Appraisal Review Board Determinations In Texas

New Regulations For Appraisal Review Board Determinations In Texas

Effective today, September 26, 2013, the Texas Comptroller of Public Accounts has issued arbitration regulations regarding appraisal review board determinations. These regulations are in accordance to recently passed legislation repealing the expedited arbitration process. These regulations, through binding arbitration, allow the owner to appeal an appraisal review board order determining a filed protest. These regulations … Read More