Tax & Accounting Blog

HOW TO MAKE EVERY SECOND COUNT DURING YOUR YEAR-END CLOSE

HOW TO MAKE EVERY SECOND COUNT DURING YOUR YEAR-END CLOSE

VPs and Directors in tax departments are always looking for ways to shave time off of their close so they can focus on more value-add activities. And, it’s no secret that having better access to data allows for a faster close of the books. We’re seeing the trend towards accelerated provision close times, down to 1-3 … Read More

Bipartisan Senate Support For E-Fairness Tax

Bipartisan Senate Support For E-Fairness Tax

A month after drawing bipartisan support in the House, the Senate has also introduced legislation known as The Marketplace Fairness Act, which supporters say evens the playing field between traditional stores and online only retailers such as Amazon.  Currently, online retailers such as Amazon are granted the ability to forgo collecting state sales tax, which … Read More

Self-Insurance Arrangements – Relief from IRC Section 6050W Requirements

Self-Insurance Arrangements – Relief from IRC Section 6050W Requirements

Notice 2011-78 provides relief to insurance companies administering certain self-insurance arrangements from information reporting obligations under Section 6050W of the Internal Revenue Code. Under the self-insurance circumstances identified in Notice 2011-78, an insurance company will not be treated as a third-party settlement organization with Form 1099-K reporting responsibility. Insurance companies may rely on the Notice until the Regulations … Read More