Tax & Accounting Blog

Noah’s Ark for Tax Departments

Noah’s Ark for Tax Departments

“If tax risk were rain, we’d be at the flood stage.” That’s how Randy Robason, a partner at Grant Thornton, opened his ONESOURCE user conference talk on how corporations can better manage tax risk. Randy, along with his colleague Jeff White, aptly titled their presentation “Your Ticket to Noah’s Ark: Emerging Practices to Manage Tax … Read More

Live from the 2011 ONESOURCE Global User Conference in Miami- Day One

Live from the 2011 ONESOURCE Global User Conference in Miami- Day One

  Best practices, hands-on training , new innovations, and of course, mojitos! With beautiful Miami as the backdrop, the 2011 ONESOURCE Global User Conference is under way! This year’s agenda is more exciting than ever and to prove it, I’ll be blogging daily from the conference to recap 4 full days of sessions, demos and networking events that … Read More

Illinois Supreme Court Upholds Tax Increases on Alcohol, Candy, Soft Drinks, and Grooming Products

Illinois Supreme Court Upholds Tax Increases on Alcohol, Candy, Soft Drinks, and Grooming Products

The Supreme Court of Illinois has reversed Wirtz v. Quinn, an Illinois First District Appellate Court decision which declared the increased tax rate on alcohol, candy, soft drinks, and grooming and hygiene products to be unconstitutional because Public Act 96-35 violated the state’s “one subject” requirement. Public Act 96-35 implemented numerous tax changes, including an … Read More

Form 1099 Changes to Note as You Prepare for Year-End Statements and Filing

Form 1099 Changes to Note as You Prepare for Year-End Statements and Filing

Notes that may help you plan your Form 1099 reporting season: Your company’s logo, slogans or advertising are not permitted on the Form 1099 statements you send out to report amounts paid in 2011 and later years. This is the new rule, though we’re still waiting for the IRS to issue specific clarifications or explanations of … Read More