Tax & Accounting Blog

Residential Electricity VAT Rate in Belgium Rises 9/1/2015

Residential Electricity VAT Rate in Belgium Rises 9/1/2015

The center-right Belgian coalition government of Charles Michel has announced that as of 1 September 2015 the value-added tax rate applied to residential energy service will rise to 21%. The applicable rate had been 6% since 1 April 2014 under initiative of the previous government under Elio Di Rupo. Reception to the change has been … Read More

IRS Announces Increase in Penalty Amounts: It isn’t a bad thing

IRS Announces Increase in Penalty Amounts: It isn’t a bad thing

The Affordable Care Act (ACA) may provide more affordable health care, but the new IRS information reporting penalties for non-compliance just got less affordable. You may already know this, but Congress recently passed new legislation mandating new tax provisions including an increase in penalties under Section 6721 for failing to file correct information returns and … Read More

U.S. Supreme Court to Hear Appeal in Colorado “Amazon Tax” Case

U.S. Supreme Court to Hear Appeal in Colorado “Amazon Tax” Case

On July 1, the United States Supreme Court announced the cases that it would consider in its next term. Among those cases is 13-1032, Direct Marketing Association v. Brohl, which challenges the State of Colorado’s so called “Amazon Law.” Colorado’s Amazon Law came into effect on March 1, 2010. Unlike Amazon … Read More