Tax & Accounting Blog

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IRS Road Show to Introduce Transfer Pricing Roadmap

Samuel M. Maruca, the director of transfer pricing for the IRS, has announced that the newly formed group will be doing a road show for the field offices to introduce a new Transfer Pricing Roadmap consisting of audit guidelines to aid in the effective case selection and development of audit issues. The intent is to … Read More

Information Reporting on Form 1042-S, A New Challenge for Accounts Payable – Part 3: Payments to Third Parties Recipient Code

Information Reporting on Form 1042-S, A New Challenge for Accounts Payable – Part 3: Payments to Third Parties Recipient Code

Occasionally, the beneficial owner of the income will request that the income that they are owed be paid to a third party. Although the payer may make the payment to the third party as requested, under the assignment of income doctrine, the income must still be reported in the name of the beneficial owner. Under … Read More

The East Feliciana Parish School Board Votes on Tax Exemption

The East Feliciana Parish School Board Votes on Tax Exemption

The East Feliciana Parish School Board is scheduled to vote on a tax exemption for six parish businesses from charging their out-of-state customers on sales taxes on equipment repair work Thursday, July 26th.  The School Superintendent announced the special meeting after more than two hours of discussion about the tax exemption before the board’s finance … Read More