Tax & Accounting Blog

In the Shadow of the Panama Papers, US Seeks to Address Weaknesses in Financial Transparency

In the Shadow of the Panama Papers, US Seeks to Address Weaknesses in Financial Transparency

One month! On May 5, just 32 days after the Panama Papers leaked the identities of shareholders and directors of over 200,000 companies by the Panamanian law firm Mossack Fonesca, the White House signaled their intent to introduce regulations that would provide greater transparency and sharing of data. In a letter from the U.S. Secretary … Read More

Panama Papers Bring FATCA & CRS into the Spotlight

Panama Papers Bring FATCA & CRS into the Spotlight

The Panama Papers allege that many high profile figures around the world, including current and former world leaders, government officials and celebrities, used the law firm Mossack Fonseca to hide assets and the identity of those who control the assets. Two major actions must take place to tackle this issue, including:      1. Identifying where the … Read More

Congress Passes Permanent Internet Tax Freedom

Congress Passes Permanent Internet Tax Freedom

  After extending the moratorium on internet taxation multiple times, congress has finally voted to make the ban on state and local taxation of internet access permanent. See H.R. 644 – Trade Facilitation and Trade Enforcement Act of 2015. The moratorium was originally signed into law in 1998 with a grandfather clause allowing several … Read More

Questions about ACA ALE Reporting Requirements? Checkpoint Has the Answers.

Questions about ACA ALE Reporting Requirements? Checkpoint Has the Answers.

Under the Affordable Care Act (ACA), is your business client an Applicable Large Employer (ALE)? Should they be preparing to file Form 1095-C and Form 1094-C? Yes? No? Not sure? We asked our experts at Thomson Reuters Checkpoint the top 3 questions tax practitioners may have regarding the new ACA reporting requirements for large … Read More