Tax & Accounting Blog

Increase Efficiencies And Consolidate Data

The greatest value would be related to greater accuracy, consistency and transparency. Our internal and external reviews are now more substantive and issue-based. Mark Marrow, Tax Manager Learn how Nabors Industries, Ltd., a long-time user of ONESOURCE Tax Provision, utilized the system to increase efficiencies and consolidate tax data from multiple global entities and general … Read More

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Alert: IRS Announces Postponement from January 1 to July 1 for Many Items of FATCA Compliance

Notice 2013-43, an advance copy of which was released today, revises the timeline set by the FATCA final regulations for certain elements of due diligence, tax withholding, and reporting under Chapter 4 of the Internal Revenue Code, the Foreign Account Tax Compliance Act known as FATCA. Notice 2013-43 will be officially published on July … Read More

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Japan signs FATCA Implementation Agreement

The U.S. Department of Treasury has announced a statement of mutual cooperation and understanding for implementation of the U.S. Foreign Account Tax Compliance Act (FATCA). The statements will serve as a FATCA intergovernmental agreement (IGA) following the Treasury Department’s Model 2 structure for direct reporting by Japanese financial institutions to the U.S. Internal Revenue Service. … Read More