Over the last two years, the scrutiny and examination of corporate executive compensation has increased exponentially. The increased scrutiny began during the banking crisis and the economic downturn in late 2008 to early 2009. Shareholders wanted…

Over the last two years, the scrutiny and examination of corporate executive compensation has increased exponentially. The increased scrutiny began during the banking crisis and the economic downturn in late 2008 to early 2009. Shareholders wanted…

On August 10, 2010, President Obama signed the Education Jobs and Medicaid Assistance Act (H.R. 1586), which changes the foreign tax credit regime as a way to help pay for a temporary increase in funding for Medicaid and education. These provisions…

Start preparing your company for the inevitable: increasing state and local sales tax burdens. We are not really going out on a limb in predicting that the sales tax burden for business in 2011 and coming years will grow, but what you may not…

We wonder whether someone in the Big Four’s professional practice standards offices might suggest that Mike consider them for an upcoming show. Especially now, after the Tax Court case Canal Corporation and Subsidiaries (formerly Chesapeake…

The Hiring Initiatives to Restore Employment (HIRE) Act, signed into law on March 18, 2010, includes two incentives that may provide significant tax savings for qualifying organizations that hire new employees. These incentives include a payroll tax…

During the challenging economic times currently facing many taxpayers, virtually no stone is being left unturned in the search to minimize out-of-pocket expenses and increase cash flows. However, for many companies, this search often overlooks one…

Legislative UpdateIn the last few weeks, potential new legislation that would tax income derived from a “carried interest” (otherwise known as profits interest in a partnership) at ordinary income tax rates became much closer to being a reality when…

On March 23, 2010, President Obama signed into law H.R. 3590, the Patient Protection and Affordable Care Act, and one week later, on March 30, 2010, the President signed into law H.R. 4872, the Health Care and Education Affordability Reconciliation…

On March 23, 2010, President Obama signed into law H.R. 3590, the Patient Protection and Affordable Care Act, and one week later, on March 30, 2010, the President signed into law H.R. 4872, the Health Care and Education Affordability Reconciliation…

Despite claims that it has a policy of restraint in light of FIN 48, the IRS continues to seek more disclosure of tax accrual workpapers. On May 10, 2007, the IRS’s Large and Mid-Size Business Division (known as LMSB) issued a memo reaffirming its…

2010 - Issue 24 - Tax accounting methods planning has often been an afterthought for many taxpayers because it generally does not create an effective tax rate benefit for the company. Given that the US recovery from recession is still bumpy,…

Beginning in 1935 with the United States Supreme Court decision in Gregory v. Helvering, courts have developed and applied common law doctrines to deny tax benefits for transactions that meet literal statutory requirements but seemingly exploit…

It is one of the happy incidents of the federal system that a single courageous State may, if its citizens choose, serve as a laboratory; and try novel social and economic experiments without risk to the rest of the country. — Louis D. Brandeis,…

As in 2009, it appears that 2010 will continue to be a roller-coaster ride for our state legislators as closing budget gaps put pressure on them to consider tax legislation. Many states continue to turn their focus to a tax concept that has been…

The last 12 months have seen many important changes and proposed changes to transfer pricing regulations in India. While some of them have been introduced in the Union Budget of India, others have been a part of a bigger overhaul of the Indian tax…

We are sure that you're aware of Internal Revenue Code Section 409A, which altered the way employers are permitted to structure their deferred compensation plans. All nonqualified deferred compensation arrangements had to be amended to comply in…

Continuing with our series on tax issues relating to green energy, this week we scratch the surface on a wide array of often overlooked state and local tax credits, rebates, grants and loans available to those who “go green” strategically. As state…

On March 18, 2010, President Obama signed into law the Hiring Incentives to Restore Employment (HIRE) Act, H.R. 2847. The HIRE Act contains incentives for businesses to hire unemployed workers and extends Section 179 expensing, among other…

These eight words, which to most of the world might evoke a yawn, instill fear in many tax practitioners. The realities in which we find ourselves today require that each and every time a tax VP proposes to amend a prior-year return, he/she has to…