With states facing unprecedented financial budget crises, every week we read about their efforts to generate more tax revenue. One popular trend has states looking to tax out-of-state companies by proposing broader nexus thresholds that would…

Companies have been bombarded: the Patient Protection and Affordable Care Act, the Wall Street Reform and Consumer Protection Act, the Tax Relief and Health Care Act, and the Small Business Jobs Act. It’s enough to make the most sophisticated of…

In an effort to resolve some of the long-standing controversies between taxpayers and the IRS on research credit issues, the IRS hosted a discussion forum with tax practitioners on January 5 and January 6, 2011 in Washington, D.C. The primary focus…

This article is the first in a series that will address relevant considerations and provide insights when a change to U.S. corporate income tax laws or rates is anticipated. This first installment covers the financial statement considerations upon a…

Circa 1959. The legislation “is not a permanent solution to the problem,” but rather is aimed to “serve as an effective stopgap or temporary solution while further studies are made of the problem.” (U.S. Senate Report No. 658 (8/11/59)).The more…

As foreshadowed in Tax Advisor Weekly late last year, on December 17, 2010, President Obama signed into law the Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010 (P.L. 111-312). For our prior article on tax…

On January 11, 2011, the U.S. Supreme Court decided Mayo Foundation for Medical Education and Research, et al. v. U.S., upholding a Treasury regulation that classifies medical residents who work more than 40 hours per week as full-time…

With the U.S. national unemployment rate lingering above 9 percent, many are trying to identify the issues responsible for the current situation. Often, the blame is placed on excessive executive compensation.In particular, tax gross-ups have become…

Most of us decide at the beginning of a new year to set resolutions...lose weight, better manage finances or improve ourselves in some other way. As we know, New Year’s resolutions are fairly easy to make but very difficult to maintain. The same…

The tax compromise signed into law by President Obama this past Friday includes a variety of individual and business tax relief measures, ranging from the much debated 35 percent top tax rate for estate taxes through 2012, to numerous benefits for…

December can be a busy month. The holidays and the decorating, the airports and the travelling, and — for some tax departments — preparing for the year-end income tax provision crunch soon to come.In preparing for this upcoming crunch, there are…

Each year, many taxpayers file inaccurate corporate income tax returns in separate-reporting jurisdictions because they do not consider the unitary business principle applicable to those states.Although you may find this revelation shocking, the…

The year 2010 has already been a year of significant tax law change. Given the weak U.S. economic recovery, the results of the mid-term elections and the lame duck tax issues still to be addressed before year-end, the next month will likely further…

Do your foreign affiliates earn income from sources within the United States but otherwise do not have a presence in the U.S.? Do you think you are not subject to state income tax? Then this article is a must read for you.Unlike U.S. federal and…

Recent Regulatory MovementOn July 21, 2010, President Obama signed the financial regulatory reform bill (Dodd-Frank Act) into law. One immediate effect of the bill was the permanent exemption of Section 404(b) of the Sarbanes-Oxley Act of 2002 (SOX(…

It is no secret that every corner of the world is now at our fingertips. The internet and other forms of multimedia have made connecting with distant parts of the globe as easy as clicking a button, and as a result of this access, the ability of…

On April 23, 2010, the Second Engrossed Substitute Senate Bill 6143 was signed into Washington state law adopting several business tax law changes that are now being implemented. Some of the more significant changes in the bill include: A business…

Business confidence is cautiously returning, and with it a change in organizations’ business focus towards increasing employee engagement and retention of key employees. These human resource challenges are typically addressed through a combination…

On January 26, 2010, IRS Commissioner Douglas Shulman addressed the New York State Bar Association Tax Section, delivering a 3,000-word speech. The first 60 percent of this speech was devoted to IRS initiatives to manage its responsibilities given…

As we go to press with this issue, the Obama administration is set to release a proposal to extend the research credit permanently and increase the alternative simplified credit (ASC) rate to 17 percent from 14 percent. Expect to see more on this in…