Tax & Accounting Blog

Evaluating Intercompany Royalty Rates: Why Agree with the IRS Preferred Method?

Evaluating Intercompany Royalty Rates: Why Agree with the IRS Preferred Method?

Imagine a U.S. parent that licenses certain technology to a Canadian affiliate which generates significant profits. While this sounds like good news from a business perspective, the IRS habit of assuming that the royalty should represent all of these residual profits could cause double taxation problems. Interestingly, many economists and the latest from the OECD … Read More

SUCBs Fee in England – It’s in The Bag

SUCBs Fee in England – It’s in The Bag

In a piece of legislation that offers commentators a grab-bag of puns, many retailers in England will have to charge at least 5p for single use plastic carrier bags (SUCBs) effective 5 October 2015. The Single Use Carrier Bags Charges (England) Order 2015 is designed to reduce single-use plastic bag usage. The implementing legislation in its entirety … Read More

Highlights of IRS Publication 5165: How to Electronically File ACA Information Returns for Software Developers and Transmitters

Highlights of IRS Publication 5165: How to Electronically File ACA Information Returns for Software Developers and Transmitters

Blog, ONESOURCE September 10, 2015

If you plan to file IRS Forms 1095-B and/or 1095-C then this post is for you and your IT department. The IRS Publication (Pub) 5165 outlines the communication procedures, transmission formats, business rules and validation procedures for returns transmitted electronically through the AIR system. As I read through the provisions of Publication 5165 I noticed … Read More