Tax & Accounting Blog

IRS Releases Draft Form for Medicare Surtax on Net Investment Income

IRS Releases Draft Form for Medicare Surtax on Net Investment Income

On August 6, 2013, the IRS released a draft of 2013 Form 8960, Net Investment Income Tax – Individuals, Estates, and Trusts.  Taxpayers use the form to compute the 3.8% surtax on net investment income, added by the 2010 Health Care Act.  The IRS has not yet released instructions to the form. The IRS … Read More

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Connect With ONESOURCE At Oracle OpenWorld

ONESOURCE will be highlighting our latest suite of tax and accounting solutions at Oracle OpenWorld September 22-26 in San Francisco. The Thomson Reuters ONESOURCE suite of tax and accounting solutions enables Oracle clients to bridge the gap between their financial systems and tax processes. Eliminate the burden of managing multiple sources of financial data. Leave … Read More

Delays To New Software Services Tax in Massachusetts

Delays To New Software Services Tax in Massachusetts

On July 31, 2013 a new software services tax on certain software purchases went into effect in Massachusetts. This new tax law applies to the sales and use tax reporting for “computer system design and to modification, integration, enhancement, installation, or configuration of standardized or prewritten software.” Due to heavy support for the repeal of … Read More

New Canadian Withholding Tax Documentation Requirements

New Canadian Withholding Tax Documentation Requirements

The Canada Revenue Agency (CRA) has changed its procedures for determining whether non-residents can claim a reduced rate of withholding tax under a tax treaty. Background Canada imposes a 25% withholding tax on certain types of Canadian source income paid to nonresidents of Canada.  Residents of countries with which Canada has a treaty may be … Read More

ONESOURCE Property Tax Announces September Release

ONESOURCE Property Tax Announces September Release

Thomson Reuters is pleased to announce the September 2013 release of ONESOURCE Property Tax. This release includes many enhancements to the Workflow Center as well as many other exciting upgrades. Additional features and enhancements include the following: Navigation and Cross-Center Tools Defined Views: Increased speed has made the define view process more efficient. Added Checkbox: A … Read More