Is everyone ready to have some fun in Florida and to learn valuable knowledge about the latest technology and how it can help your tax department? The annual ACT Conference always provides a great opportunity to not only learn from the speakers but to spend time with your peers learning what processes and technology they … Continue reading »
A Visit Down Under
This week Kevin Robert, CEO of Wolters Kluwer Tax and Accounting, will be meeting with CCH Integrator clients Down Under. During his time in Sydney, Australia, Kevin was introduced to a form of Australian football called “footy” or “Australian Rules,” by our local CEO of Wolters Kluwer Asia Pacific, Russell Evans. As it turns out, “footy” has … Continue reading »
Summons for US Taxpayer Information from Bank with No US Presence
A Federal Court in San Francisco has authorised the issue of summons for information about US taxpayers holding offshore accounts in First Caribbean International Bank (FCIB). FCIB is based in Barbados and does not have any branches in the US but maintains a correspondent account in the US at Wells Fargo Bank NA. The summons will … Continue reading »
FATCA IGAs: Where Are We Now?
In November, Treasury announced that it was engaged with more than 50 countries and jurisdictions to improve international tax compliance and implement FATCA. Most of those countries (48) were identified in a November 8, 2012 Treasury press release. In April, in a “Treasury Notes” blog article, a Treasury official updated the number of jurisdictions with which … Continue reading »
Green Initiatives at Wolters Kluwer
In his post this week on the Wolters Kluwer Intelligent Solutions blog, David Bergstein, Director, Strategic Relationships at CCH, suggests a number of environmentally friendly ways of getting rid of waste paper (that are secure too!). See his post “A Shred Ahead” here, then read more about our sustainability program in the 2012 Sustainability Report.
In case you haven’t already met, say hi to Joe!
Joe is a Tax Director for a global corporation who knows that getting buried in spreadsheets is not a good use of his time. Watch the clip below to find out how CCH’s Global Integrator is providing more opportunities for strategic planning… and vacations.
Proposed and Prospective Transfer Pricing Legislation in Australia
On February 13, proposed anti-avoidance and profit shifting legislation was introduced in Parliament for a first reading by the House of Representatives. The bill, Tax Laws Amendment (Countering Tax Avoidance and Multinational Profit Shifting) Bill 2013, would also amend Australia’s transfer pricing regime. The proposed legislation should not, however, be confused with the Tax Laws … Continue reading »
Clarification: Corporate Tax Fairness Act vs. Corporate Tax Dodging Prevention Act
On February 7, Sen. Sanders (I-VT) introduced bill S.250, the Corporate Tax Dodging Prevention Act, with proposed amendments to Code Secs. 901, 904, 952 and 7701. The proposed legislation would end deferral of foreign source income, institute a per country tax credit (904 numerator), eliminate loopholes for big oil, and establish a management and control … Continue reading »
FATCA Reporting
The Hiring Incentives to Restore Employment Act (HIRE Act), signed into law by President Obama in 2010, substantially incorporates the measures designed to stop tax evasion contained in the Foreign Account Tax Compliance Act (FATCA) of 2009. FATCA and Individuals Under FATCA, U.S. taxpayers with specified foreign financial assets that exceed certain thresholds must report … Continue reading »
Overview of the Chapter 4 FATCA Regulations Under T.D. 9610
On January 17, 2013, the Treasury and IRS released the final Foreign Account and Tax Compliance Act (FATCA) regulations under Code Secs. 1471-1474. Enacted in 2010 pursuant to the Hiring Incentives to Restore Employment (HIRE) Act (P.L. 111-147), FATCA is intended to combat offshore tax evasion by U.S. taxpayers with overseas accounts. According to Deputy … Continue reading »
