Tax & Accounting Blog

Sales Tax: Marketplace Equity Act Introduced in Congress

Sales Tax: Marketplace Equity Act Introduced in Congress

Last week Representative Steve Womack (R-Arkansas) and Representative Jackie Speier (D-California) introduced a bill dubbed the  Marketplace Equity Act (MEA). If passed this legislation would give all states the authority to require online retailers with no presence in the state to collect sales tax from residents who buy their … Read More

Will Congress Repeal the 3% Tax Withholding Law Affecting Government Payers for Goods and Services?

Will Congress Repeal the 3% Tax Withholding Law Affecting Government Payers for Goods and Services?

The U.S. House of Representatives Committee on Ways and Means voted on October 13 to approve H.R. 647, a legislative bill for repeal of Section 3402(t) of the Internal Revenue Code, the law which requires government entities to withhold 3% federal income tax from certain payments for services and for property.  In the U.S. Senate, … Read More

Join Us at the Tax Information Reporting Forum

Join Us at the Tax Information Reporting Forum

Information Reporting (1099) is becoming more complicated and the risks relating to non-compliance or inaccurate reporting are high. The recent changes to FATCA, 1099 reporting, 1042 and 1042-S, foreign reporting and cost-basis reporting will affect your business, whether it’s a corporation, a bank, a trust department or a wealth management firm. Join us for a … Read More

Royalties, Management Fees and Russia…Not A Match Made in Heaven

Royalties, Management Fees and Russia…Not A Match Made in Heaven

The buzz around intangible property and the precedents being set to ensure proper valuation and intercompany pricing is a difficult issue being heard worldwide. In the last two years, Russian tax authorities have been heavily focused on cross-border royalty structures, especially where royalties are paid by the Russian distributors of goods. Recently, the courts in Russia … Read More