Tax & Accounting Blog

When I Grow Up, I Want to be a Tax Accountant

When I Grow Up, I Want to be a Tax Accountant

As we wrap up the year and start preparing for 2012, our team wanted to share this video with you. Once upon a time, when we were young, we imagined what life would be like when we grew up. Some of us may have thought, “When I grow up, I want to be … Read More

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Why the Nature of Income Paid to Foreign Vendors Matters

U.S. organizations making payments to vendors must determine whether the vendor is a U.S. person or a non-U.S. person because only payments to U.S. persons (actual or presumed) are covered by Form 1099 rules and procedures. The term, U.S. persons, includes U.S. citizens, resident aliens (based on I.R.C. Section 7701(b), the tax residency rules) and … Read More

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Residency for Treaty Purposes: Corporations

The United States has income tax treaties with over 60 countries for the purpose of avoiding double taxation. The Residency Article of an applicable income tax treaty sets forth rules for determining which entities and individuals (collectively, persons) are residents of a country for purposes of the treaty. As the IRS expands its compliance enforcement with … Read More

Should multnationals be encouraged to voluntarily disclose and comply with transfer pricing?

Should multnationals be encouraged to voluntarily disclose and comply with transfer pricing?

Nishana Gosai thinks so. The Manager of the Transfer Pricing Unit of the South African Revenue Service (SARS) shared his views on recent transfer pricing issues to a group of regional journalists at a recent training for the Thomson Reuters foundation. Gosai expressed the need to address the disparities for African countries concerning transfer pricing . Current … Read More

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New Year’s Resolution: Preparing for the income tax provision audit

When the Holiday celebrations are over, you wake up New Year’s Day with resolve to be organized; hit the gym; and of course, be prepared for the audit of the income tax provision! The work you have done to make your process efficient; improve data collection; communicate with management and the board; and address tax risk … Read More