Tax & Accounting Blog

IRS Provides an “Early Look” at Form 1094/1095 Electronic Filing for Tax Year 2015

IRS Provides an “Early Look” at Form 1094/1095 Electronic Filing for Tax Year 2015

In preparation for mandatory Form 1094 and 1095 filing in early 2016, the IRS has provided an “early look” at two publications relating to electronic filing for the 2015 tax year/2016 processing year. (The forms report information for a particular calendar year, referred to as the “tax year,” and are filed in the following calendar year, referred to as the “processing year.”) Electronic filing is done through the IRS’s ACA Information Returns (AIR) system; it is generally required if the filer must submit at least 250 of these returns (see our article), and is permitted for other filers. … Read More

Rise of the Mega-FTA – The Trans-Pacific Partnership (TPP)

Rise of the Mega-FTA – The Trans-Pacific Partnership (TPP)

Introduction The Trans-Pacific Partnership (TPP) pact was successfully concluded in Atlanta, Georgia on the 5th of October 2015 after five and a half years of negotiations.[i] The pact involving twelve Pacific Rim countries– Australia, Brunei Darussalam, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, the United States and Vietnam – accounts for … Read More

Maldives Green Tax, U.S. Greenbacks

Maldives Green Tax, U.S. Greenbacks

Starting 1 November 2015, non-resident visitors to the Maldives will be subject to a $6 per person per day tax. Known as the Green Tax, the tax was approved by the parliament on 15 December 2014 and ratified by President Abdulla Yameen on 17 December 2015. On 12 October 2015 the Maldives Inland Revenue Authority Read More

You’re Invited to Energize Your Tax Workflow with Integrated Workpapers and Trial Balance

You’re Invited to Energize Your Tax Workflow with Integrated Workpapers and Trial Balance

In our connected world, it’s critical that our software tools communicate and share data as fast and accurately as possible. That’s why we’ve created a completely integrated workpaper management and trial balance process that works seamlessly with your UltraTax CS tax prep workflow. To help you learn more about how this process works, we invite … Read More

Using technology to address the challenges of BEPS

Using technology to address the challenges of BEPS

Introducing ONESOURCE BEPS Action Manager. If you’re a corporate tax professional, you know about BEPS. You know that it is transforming the global tax landscape and will bring about unprecedented change to the way you report data to taxing authorities in countries across the globe. You know that country-by-country reporting will increase scrutiny and … Read More

Using the ACA to Your Advantage

Using the ACA to Your Advantage

The passage of the Affordable Care Act (ACA) has brought major change to the accounting profession as individuals and companies are increasingly turning to accountants and tax preparers for help in complying with new health care mandates and understanding health insurance decisions. As a tax practitioner, it is now your job to not only verify … Read More