Tax & Accounting Blog

Thomson Reuters Survey Reveals a 51 Percent Increase in Indirect Tax Resources

Thomson Reuters Survey Reveals a 51 Percent Increase in Indirect Tax Resources

A new Thomson Reuters survey finds a 51 percent increase in the resources global companies allocate to manage indirect tax compliance as compared to five years ago.  Concern over U.S. government’s need to raise revenue through taxes has prompted companies to optimize their indirect tax management function, with 88 percent claiming they are ready to … Read More

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New W-9 (Rev. Dec 2011) Released

Over the past nine months, the IRS received multiple complaints about the recently released W-9 (Rev. Jan 2011). Criticism centered on the tax classification area, where the word, required, was added. This led filers to believe that the tax classification section was mandatory, where, in fact, it is not. Due to the high number of complaints, the IRS released a … Read More

HOW TO MAKE EVERY SECOND COUNT DURING YOUR YEAR-END CLOSE

HOW TO MAKE EVERY SECOND COUNT DURING YOUR YEAR-END CLOSE

VPs and Directors in tax departments are always looking for ways to shave time off of their close so they can focus on more value-add activities. And, it’s no secret that having better access to data allows for a faster close of the books. We’re seeing the trend towards accelerated provision close times, down to 1-3 … Read More

Bipartisan Senate Support For E-Fairness Tax

Bipartisan Senate Support For E-Fairness Tax

A month after drawing bipartisan support in the House, the Senate has also introduced legislation known as The Marketplace Fairness Act, which supporters say evens the playing field between traditional stores and online only retailers such as Amazon.  Currently, online retailers such as Amazon are granted the ability to forgo collecting state sales tax, which … Read More