Tax & Accounting Blog

Intermediate Materials – Can They Help Me Qualify for FTAs?

Intermediate Materials – Can They Help Me Qualify for FTAs?

Blog, Global Trade, ONESOURCE February 10, 2017

In complicated manufacturing environments many producers create sub-assemblies or intermediate products before combining them in final products for export.  This is often reflected in complicated multi-level bill of materials (BOM) during manufacturing.  If these intermediate materials are qualified and considered originating in the production country, the possibility of meeting originating content requirements to meet rules … Read More

UltraTax/1120 – Now Track Basis from a 1065 Schedule K-1 Pass-Through Entity

UltraTax/1120 – Now Track Basis from a 1065 Schedule K-1 Pass-Through Entity

With 2016 UltraTax/1120, you can track a corporation’s basis in a partnership interest. Losses reported on a pass-through 1065 Schedule K-1 are limited by the amount of the corporation’s basis in the pass-through entity. UltraTax/1120 includes partner’s basis worksheets for regular tax and AMT that report these calculations. In addition, K-1 reconciliation worksheets were added … Read More

State Driver’s License Requirements

State Driver’s License Requirements

On June 11, 2015, the IRS issued an announcement regarding the collaborative effort to combat identity theft and tax refund fraud. Thomson Reuters supports and is participating in this initiative. In an effort to reduce identity theft and fraudulent return filing, complete the Form of identification field on federal Screen IDAuth for state electronic filing … Read More

Canada Publishes Form and Instructions for Country-by-Country Report

Canada Publishes Form and Instructions for Country-by-Country Report

On February 3, 2017, the Canada Revenue Agency (CRA) published a form (RC 4649) and instructions for completing the country-by-country (CbC) report for reporting fiscal years that begin after 2015. New section 233.8 of the Income Tax Act requires certain multinational enterprise (MNE) groups to file a CbC report. The report … Read More

CS Web Accounts Now Have a “Software Only” Option

CS Web Accounts Now Have a “Software Only” Option

With the new login requirements and the necessary CS Web accounts needed to access the software, the new Software Only option enables you to access your CS Professional Suite applications — but does not permit access to website features such as software renewals, training or the Thomson Reuters Community. An Admin account can manage and … Read More