Tax & Accounting Blog

Kentucky Offers Tax Amnesty, Cutting Interest in Half and Waiving Penalties

Kentucky Offers Tax Amnesty, Cutting Interest in Half and Waiving Penalties

The new Kentucky Tax Amnesty Act authorizes a tax amnesty program, which will be run by the state Department of Revenue for a period of no less than 60 days and no more than 120 days beginning on a date yet to be set in the fiscal year July 1, 2012 to June 30, 2013. … Read More

Worker Classification Compliance: Maine Adopts Legislation Defining “Independent Contractor”

Worker Classification Compliance: Maine Adopts Legislation Defining “Independent Contractor”

“Worker classification” is the term used for the process of identifying which workers must be treated as employees of your organization, and which workers must be treated as legitimate nonemployee independent contractors. Worker classification cases are a major focus for the IRS and for many state governments as well, and there is cooperation among federal and state … Read More

Organizations with Foreign Employees Face Compliance Challenges

Organizations with Foreign Employees Face Compliance Challenges

In this global economy, U.S. employers both large and small routinely employ non-U.S. citizens as well as U.S. citizens. The payroll withholding and reporting rules that apply to non-U.S. citizen employees are generally the same as for U.S. citizen employees if they are resident aliens (RAs) as that term is defined by Section 7701(b) of … Read More

Thomson Reuters Checkpoint Now Available On-The-Go!

Thomson Reuters Checkpoint Now Available On-The-Go!

  Here’s the latest way to stay connected to your tax and accounting research when you’re on the move… Thomson Reuters Checkpoint is now optimized specifically for smart phones or tablet. Whether you’re looking for topics on transfer pricing, tax provision or indirect tax, you can access all the tax research you need, wherever you are. Also, jump-start your … Read More

FATCA Conference in New York Highlights Industry Concerns

FATCA Conference in New York Highlights Industry Concerns

At the EEI 24th Annual Forum on International Tax Withholding and Information Reporting in New York on June 5-6, members of the U.S. and foreign financial industries met with key representatives of the IRS to explore the latest on FATCA regulations and implementation. Requirements from the USFI perspective were examined along with those from the FFI … Read More

Partners and Details Firming around FATCA

Partners and Details Firming around FATCA

Foreign financial institutions and governments might initially have groaned when the U.S. Congress passed the Foreign Account Tax Compliance Act in March 2010, but it looks like at least some of them are starting to come around. In February, the U.S. Treasury announced it had partnered with five European nations — France, Germany, Italy, … Read More