Tax & Accounting Blog

Virginia Announces New Enterprise Zones

Virginia Announces New Enterprise Zones

Virginia Governor Bob McDonnell declares four new designations of Virginia Enterprise Zones, a program run by the Virginia Department of Housing and Community Development. The VEZ’s initiative is to bolster job growth and encourage private investment by creating opportunities for businesses and investors. These four new zones will receive state and local enterprise zone incentives … Read More

Massachusetts Early Mediation Program

Massachusetts Early Mediation Program

Due to its early success, Massachusetts State Revenue Commissioner declared that the Department of Revenue’s one year-old early mediation program is expanding to more taxpayers for 2014. The early mediation program allows for both the taxpayer and DOR to settle their case through a mediation process rather than traditional appeals or litigation processes. The tax … Read More

FATCA Compliance Updated by IRS Notice 2013-69

IRS Notice 2013-69 provides new guidance for foreign financial institutions (FFIs) that sign an FFI agreement with the IRS for compliance under FATCA (the Foreign Account Tax Compliance Act). Notice 2013-69 also includes guidance for FFIs that are treated as reporting financial institutions under an applicable Model 2 intergovernmental agreement (IGA) between the United States … Read More