Tax & Accounting Blog

Current Users Answer the Question “Why ONESOURCE?”

Current Users Answer the Question “Why ONESOURCE?”

Rigid year-end deadlines, lack of internal resources, and understaffing are ongoing challenges for tax departments around the world. These issues may seem daunting, but they can be mitigated using ONESOURCE global tax solutions. In our latest YouTube video titled “Why ONESOURCE?” a number of tax professionals have shared their thoughts on how our … Read More

Form 1042-S: IRS Alerts Payers to the Correct Use of Codes for Unknown Recipient and Unknown Country

Form 1042-S: IRS Alerts Payers to the Correct Use of Codes for Unknown Recipient and Unknown Country

A perennial problem in Form 1042-S reporting, noted by the IRS in the current edition of Publication 1187, is misreporting which results from the payer not making correct use of Unknown Recipient (recipient code 20) and Unknown Country (country code UC). UC is used as a country code only when you conclude you have paid an … Read More

Breaking State and Local Tax Developments from the Past Year

Breaking State and Local Tax Developments from the Past Year

A prolonged economic slump, political challenges at the state and federal level and long-term structural budget issues continued to impact states in 2011. While the big picture seemed to stay about the same, significant changes in many of the states really did come about this year, inspired by governors and legislatures empowered to make some … Read More

Danish Chocolate Tax

Danish Chocolate Tax

If a proposed tax on chocolate is passed by the Danish Parliament you can expect to pay a lot more for a chocolate bar or cake in Denmark next year. The Chocolate Tax which is expected to pass this week and go into effect on January 1st would levy an extra six Danish Kroner ($1.05) on every … Read More