Tax & Accounting Blog

Repealed! President Signs Tax Law Repealing the Requirement for Federal, State and Local Governments to Withhold 3% of Many Payments to Vendors

Repealed! President Signs Tax Law Repealing the Requirement for Federal, State and Local Governments to Withhold 3% of Many Payments to Vendors

Thursday morning, November 21, the President signed H.R. 674, which enacts repeal of Section 3402(t) of the Internal Revenue Code – that is, the requirement for federal, state and local governments and their agencies and instrumentalities to withhold 3% federal income tax from many payments for services and payments for property (tangible property such as goods, … Read More

How We Listened @ the 2011 ONESOURCE Global User Conference

How We Listened @ the 2011 ONESOURCE Global User Conference

226 tweets, 204 written comments, 10 listening sessions and dozens of ONESOURCE client interviews were all captured in just three days at the recent ONESOURCE User Conference in Miami. By allowing our clients to tweet (#ONESOURCEuc), stop by the “We’re Listening” booth to speak directly with Thomson Reuters executives, leave an anonymous written comment, and … Read More

Government Entities: One Step Closer to Repeal of the Law that Requires 3% Withholding on Vendor Payments

Government Entities: One Step Closer to Repeal of the Law that Requires 3% Withholding on Vendor Payments

The United States Senate joined the House of Representatives in passing H.R. 674 to repeal the 3% withholding requirement that is currently scheduled to begin in 2013 for vendor payments made by federal, state and local governments and their agencies and instrumentalities.  The Senate action puts us one step closer to repeal of the 3% withholding … Read More