Tax & Accounting Blog

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FATCA Final Regulations issued, provide rules for new tax documentation and withholding regime

The Final Regulations for Chapter 4 of the Internal Revenue Code, sections 1471 through 1474 known as the Foreign Account Tax Compliance Act or “FATCA,” have been issued. The official date of publication in the Federal Register is scheduled to be January 28, 2013. The IRS has made the complete text, TD 9610, available at … Read More

Tax Leaders from Global 2000 Companies Say VAT and Sales and Use Tax Compliance Will Be Top Issues in 2013 and Beyond

Tax Leaders from Global 2000 Companies Say VAT and Sales and Use Tax Compliance Will Be Top Issues in 2013 and Beyond

According to a recent Thomson Reuters poll, 88 percent of indirect tax executives have seen an increase in activity by tax authorities in the last two years.  In addition, nearly two-thirds (63 percent) of respondents are spending more time on tax compliance strategy and planning. The poll was conducted in Q4 2012 at the annual … Read More

The American Taxpayer Relief Act of 2012: Deep Sigh for Tax Accountants

The American Taxpayer Relief Act of 2012: Deep Sigh for Tax Accountants

While legislators worked to act as swiftly as possible, the American Taxpayer Relief Act of 2012 (2012 Act) was not signed into law until 2013. President Obama signed into law the last-minute compromise on January 2, 2013, settling many unresolved fiscal cliff tax issues, extending some of the 2001 and 2003 tax cuts and making other … Read More

British Columbia – Video Explains PST Registration Process

British Columbia – Video Explains PST Registration Process

It may not go viral, but the B.C. Ministry of Finance has released an informative new video on YouTube. The video provides step-by-step instructions explaining to businesses how to register online to collect the Provincial Sales Tax (PST) when it goes into effect on 1 April 2013. You can view the video here: www.youtube.com/watch?v=pkxaTpc4YvsRead More