Tax & Accounting Blog

Trending Challenges for Tax + How to Overcome Them

Trending Challenges for Tax + How to Overcome Them

More than ever before, tax is driving business strategy in the global economy.  Across industries, the alignment between Tax departments and business leaders continues to grow.  While traditionally focused on reporting on past events, tax departments are increasingly being invited to discussions on business strategy, focused on growth opportunities and expense optimization. Discussions with tax … Read More

What Football Season Has in Common with CPA Firm Marketing

What Football Season Has in Common with CPA Firm Marketing

Hooray! Football Season is right around the corner. For NFL and college football teams, the Labor Day weekend represents the final days to practice before the season officially kicks off, with each team striving for a winning streak. But did you know that the start of football season coincides with another season, pertinent to CPA … Read More

IRS Announces Increase in Penalty Amounts: It isn’t a bad thing

IRS Announces Increase in Penalty Amounts: It isn’t a bad thing

The Affordable Care Act (ACA) may provide more affordable health care, but the new IRS information reporting penalties for non-compliance just got less affordable. You may already know this, but Congress recently passed new legislation mandating new tax provisions including an increase in penalties under Section 6721 for failing to file correct information returns and … Read More

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Tax Court had no jurisdiction to credit taxpayer’s claimed overpayment

August 12, 2015 Del-Co Western, TC Memo 2015-142TC Memo 2015-142 The Tax Court has ruled that, in a case brought by a taxpayer for review of an IRS collection due process (CDP) hearing, it did not have jurisdiction to credit an overpayment that taxpayer alleged it had made because that overpayment was not an “available … Read More

What’s Better Than Duty Free Under An FTA?  Unconditionally Duty Free Under the ITA!

What’s Better Than Duty Free Under An FTA? Unconditionally Duty Free Under the ITA!

While the benefits of utilizing Free Trade Agreements (FTA’s) are significant for most industries in general, those companies in the technology sector who have benefited from duty savings based on the World Trade Organization’s (WTO) 1996 Information Technology Agreement (ITA)  will have things even better relatively soon if all goes as expected under an ITA … Read More