Tax & Accounting Blog

U.S. IRS Updates List of International No-Ruling Areas

U.S. IRS Updates List of International No-Ruling Areas

On January 3, 2017, the U.S. Internal Revenue Service (IRS) issued Revenue Procedure ("Rev. Proc.") 2017-7, superseding Rev. Proc. 2016–7, providing a current list of areas of the Internal Revenue Code (the “Code”), under the jurisdiction of the Associate Chief Counsel (International), on which the IRS will not issue letter rulings … Read More

Now Introducing a Multi-Unit Income & Deductions Folder in UltraTax/1065

Now Introducing a Multi-Unit Income & Deductions Folder in UltraTax/1065

The 2016 version of UltraTax CS® now has input screens and data-entry fields to support multiple units of trade or business activities for Form 1065, page 1 and additional activity-based reporting items for partners. The following changes related to multiple trade or business activities were made to the UltraTax/1065 input … Read More

The Personality Differentiator For More Business

The Personality Differentiator For More Business

Why should I hire you? What makes you unique from competitors? How are your services better than theirs? These are the common questions that marketers ask when developing a marketing plan. The simple fact is that your firm looks pretty much the same as all the others within your industry unless you can demonstrate and … Read More

Automatically Rehang E-File Acknowledgements with CS Connect™ Background Service

Automatically Rehang E-File Acknowledgements with CS Connect™ Background Service

When the CS Connect Background Service is enabled, it will automatically check the electronic filing status dialog for any clients with a status of Return transmitted to CS that is greater than 48 hours old—and request the automatic rehang of those clients’ acknowledgements. This helps to eliminate the need to contact our CS Support team … Read More

Chile Publishes Resolution Introducing Country-by-Country Reporting Requirement

Chile Publishes Resolution Introducing Country-by-Country Reporting Requirement

On December 27, 2016, the Chilean tax authorities (Servicio de Impuestos Internos – SII) published Resolution No. 126 (the “Resolution”). The Resolution updates the current annual transfer pricing return (affidavit) requirements to introduce an associated country-by-country (CbC) reporting requirement. See BEPS Action 13. The new CbC requirements include the following: Annual … Read More