Tax & Accounting Blog

Who Is a U.S. Citizen and Why It Matters: Part 4 – Loss of  U.S. Citizenship?

Who Is a U.S. Citizen and Why It Matters: Part 4 – Loss of U.S. Citizenship?

The 14th amendment also prevents U.S. citizenship from being involuntarily cancelled. Although Congress enumerated certain acts that shall lead to a loss of citizenship, the Supreme Court has held that the only way a U.S. citizen may expatriate is through his or her own voluntary and intentional actions of renunciation or abandonment. Section 349(a) of the … Read More

IRS Electronic Tax Administration Advisory Committee Report – 2012

IRS Electronic Tax Administration Advisory Committee Report – 2012

Early this summer, the Electronic Tax Administration Advisory Committee (ETAAC) presented its 2012 Annual Report to Congress. The report discusses prior year recommendations and milestones before stressing significant inefficiencies caused by late legislation (often retroactive to the beginning of the year). There is not only a negative impact on tax compliance and e-filing administration, but also … Read More

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FinCEN Announcement: Electronic Filing of Form 8300

On September 19, FinCEN announced that businesses may now electronically file Form 8300 using the BSA e-filing system. Businesses must file Form 8300 when they receive over $10,000 cash in one transaction, or in two or more related transactions. The filing is due in 15 days after the cash is received. Paper filings of Form 8300 … Read More

Who Is a U.S. Citizen and Why It Matters: Part 3 – Who Has U.S. Citizenship?

Who Is a U.S. Citizen and Why It Matters: Part 3 – Who Has U.S. Citizenship?

The 14th amendment to the Constitution of the United States confers U.S. citizenship status on individuals born or naturalized in the U.S. The Supreme Court has upheld the right of Congress to determine how citizenship is conferred to individuals not born or naturalized in the U.S. As a result, citizenship may be conferred by: 1) … Read More

onesource

Thomson Reuters ONESOURCE named Americas Tax Innovator of the Year

Last week, International Tax Review recognized Thomson Reuters ONESOURCE platform as Americas Tax Innovator of the Year at its seventh annual Americas Awards ceremony in New York. When asked why Thomson Reuters ONESOURCE was singled out for the award, Ralph Cunningham, managing editor of International Tax Review, said: “It is down to the impact … Read More