Tax & Accounting Blog

IRS Revenue Ruling highlights expense payments which cannot be tax-free

IRS Revenue Ruling highlights expense payments which cannot be tax-free

Revenue Ruling 2012-25 from the Internal Revenue Service describes three plans which companies set up to provide expense reimbursements to employees, with the payments treated as outside of the wage stream and therefore paid without any tax deductions and not reported on the employees’ W-2 forms.  But under IRS scrutiny, all three plans failed the … Read More

Chesterfield Outlet Mall Aims at an Early Opening for the 2013 Sales Tax Holiday

Chesterfield Outlet Mall Aims at an Early Opening for the 2013 Sales Tax Holiday

One of the developers racing to build rival outlet malls in Chesterfield, Missouri has accelerated its construction schedule. Taubman Centers Incorporated announced that its new outlet mall under construction in Chesterfield will open nearly three months earlier than previously planned. The mall will now be completed and opened, 2 August 2013 in order to be … Read More

Webcast: ONESOURCE Indirect Tax – Surviving a Sales Tax Audit – An Insider’s View

Webcast: ONESOURCE Indirect Tax – Surviving a Sales Tax Audit – An Insider’s View

Join Carla Yrjanson, VP of Tax Research & Content, and former state auditor, on Thursday, September 20th, 2012 at 10AM PT (1PM ET) for this 30 minute session on surviving a sales tax audit and you will learn: • Statistics on the probability of you being audited this year • Survey results highlighting the average cost of penalties & … Read More

Australia studying reciprocal tax agreement to satisfy U.S. FATCA obligations of its financial institutions

Australia studying reciprocal tax agreement to satisfy U.S. FATCA obligations of its financial institutions

The Australian government is exploring the feasibility of an agreement with the United States based on the model reciprocal agreement issued in July by the U.S. Department of Treasury for implementation of FATCA (the Foreign Account Tax Compliance Act).  Under the agreement, Australian financial institutions would be able to implement the due diligence and reporting … Read More