Tax & Accounting Blog

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Connect with Thomson Reuters at SAP Financials (March 19 to 22) and enter to win an iPad

Simplify Financial Tax Reporting by Connecting Your Indirect Tax and SAP Financial Systems Connect with Thomson Reuters at SAP Financials (March 19 to 22) and enter to win an iPad. Join us in Las Vegas as we showcase solutions that solve financial challenges around the world, especially in North America, Brazil, and Europe. Our latest … Read More

Form 1042-S Information Reporting to Non-U.S. Persons Part 3: Form 1042-S Codes

Form 1042-S Information Reporting to Non-U.S. Persons Part 3: Form 1042-S Codes

Unlike Form 1099 reporting, there is only one Form 1042-S information return, which is used for many types of income recipients and many income types. The recipients and income types must be identified on Form 1042-S by the appropriate Recipient Code and Income Code respectively. If an exemption from withholding has been allowed, the … Read More

Wind Energy Conversion Property now taxable for ad valorem tax purposes in Maui County

Wind Energy Conversion Property now taxable for ad valorem tax purposes in Maui County

Recent tax changes in Maui county will effect companies that possess alternative energy equipment. Maui County had adopted Ordinance No. 4013, Bill No. 9, which will be effective January 1, 2014, where it redefines “property” to include any and all wind energy conversion property to be taxable for the ad valorem tax purposes. Examples include, … Read More

IRS Corrects Error and Reissues Publication 515 for 2013 Tax Withholding on Nonresident Aliens and Foreign Entities

IRS Corrects Error and Reissues Publication 515 for 2013 Tax Withholding on Nonresident Aliens and Foreign Entities

If you downloaded IRS Publication 515 when the 2013 edition was first released by the IRS, you’ll need to replace it with a corrected version. Publication 515, Withholding of Tax on Nonresident Aliens and Foreign Entities, provides information about withholding U.S. income tax, documenting the beneficial owners of U.S.-source income, and the claims a … Read More