Tax & Accounting Blog

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

States Implement New Identity Verification Requirement for E-Filed Tax Returns

States Implement New Identity Verification Requirement for E-Filed Tax Returns

In the ongoing effort to combat widespread identity theft and the fraudulent filing of tax returns, many states will now require taxpayers to provide a new piece of personal identification: their driver’s license number (DLN). Some states may also request related information, such as the issuing state, date of issue and expiration date. As a … Read More