1. Articles in category: Corporate Tax

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    1. Why States Are Struggling to Tax Services | CPA Practice Advisor

      Why States Are Struggling to Tax Services | CPA Practice Advisor

      As states struggle to align their tax codes with the modern service economy, expanding sales taxes to include activities like personal care, home repair, funeral services, computer maintenance and similar enterprises would seem to be a logical move. But states are finding it's not so easy. Twenty-three state legislatures considered proposals this year to impose taxes on at least some services. But so far, none has made it into law intact -- and most died outright.

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    2. Ending Federal Tax on U.S. Corp. Profits Abroad Likely to Have Little Effect

      Ending Federal Tax on U.S. Corp. Profits Abroad Likely to Have Little Effect

      As corporate tax reform emerges as a national legislative priority, a key proposal is to scrap the current worldwide system of taxation (in which income earned abroad by subsidiaries of U.S. multinationals is subject to federal taxes when brought home) in favor of a territorial system that would enable U.S. parent companies to receive profits from those subsidiaries without incurring a federal levy.

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    3. Tax executives see tax reform as biggest challenge | Accounting Today

      An 85 percent majority of corporate tax executives perceive tax reform as the biggest challenge they’re facing in the months ahead, according to a new survey. The survey, by Bloomberg BNA, polled more than 250 corporate tax executives at public and private corporations around the country. Most of them perceive the overhaul of the federal tax code as their chief concern as they worry about the impact it will have on their companies.

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    4. GOP momentum builds to change rules for longer-lasting tax cuts | Accounting Today

      (Bloomberg) The push to change congressional budget rules and enact tax cuts for longer than 10 years even if they add to the deficit received more support Thursday as the top Senate tax writer endorsed it. “It would be better” if the existing 10-year budget window were extended, Senate Finance Chairman Orrin Hatch said in an interview. “The 10 years is problematic,” he said. “I would like to do that.” A leader of the conservative House Freedom Caucus said he’s open to the idea.

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    5. Trump’s tax reform priorities unveiled - Journal of Accountancy

      Trump’s tax reform priorities unveiled - Journal of Accountancy

      The White House on Wednesday issued President Donald Trump’s goals and key features for tax reform, including slashed corporate tax rates, flattened individual marginal income tax brackets, and repeal of the estate and alternative minimum taxes. Trump outlined his proposals in a one-page sheet of bullet points headed “2017 Tax Reform for Economic Growth and American Jobs” and “The Biggest Individual and Business Tax Cut in American History.” Speaking to reporters at the White House, Treasury Secretary Steven Mnuchin and Trump economic adviser Gary Cohn described the president’s priorities, but repeatedly rebuffed requests for details, saying those would ...

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    6. How Will the Potential Drop in the U.S. Corporate Income Tax Rate Impact Financial Statements?

      How Will the Potential Drop in the U.S. Corporate Income Tax Rate Impact Financial Statements?

      After the recent failure by the Republicans in the House to build the necessary backing for healthcare reform, House Republicans and the President have said they will be turning their focus to tax reform, with a goal of having markup legislation by August. With the likelihood of a drop in the corporate tax rate and a possible Border Adjustment Tax (“BAT”), prudent tax department leaders and CFOs will need to stay on top of pending legislation.

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    7. Tax reform will have to wait for health care, Trump says | Accounting Today

      (Bloomberg) Despite a stalemate in Congress over a plan to repeal and replace Obamacare, President Donald Trump says his efforts on health care are “doing very well” and that he still wants a bill passed before tackling tax reform. Trump said in an interview aired Wednesday morning on Fox Business that a GOP health bill will get done, even after members of Congress left last week for recess with no clear compromise in sight.

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    8. U.S. Treasury Officials Go After Foreign Tax Credit Loophole

      U.S. Treasury Officials Go After Foreign Tax Credit Loophole

      (Bloomberg) The U.S. Treasury Department took fresh steps on Thursday to curb tax avoidance by multinational corporations, issuing new curbs on a loophole through which companies artificially use credits for foreign taxes they pay to improperly lower their U.S. tax bills. Treasury officials said they would disallow corporations from using foreign tax credits unless the companies actually bring home to the U.S.—or repatriate—the overseas earnings on which they’ve paid the foreign taxes.

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    9. Pinning Down Apple s Alleged 0.005% Tax Rate: Mission Impossible

      Pinning Down Apple s Alleged 0.005% Tax Rate: Mission Impossible

      (Bloomberg) The European Commission’s finding that Ireland must collect as much as an attention-getting 13 billion euros ($14.5 billion) in back taxes from Apple Inc. contained a second stunning number: 0.005 percent. In a news release, the commission said that figure represented the effective corporate tax rate Apple paid on its European profits in 2014. At that rate, someone who earned $1 million would pay $50 in tax.

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    10. CFOs Say Cyber Security Fuels Tech Growth, While Tax Rates Hinder It

      CFOs Say Cyber Security Fuels Tech Growth, While Tax Rates Hinder It

      Cybersecurity will be one of the biggest growth engines for the technology sector in 2016, right alongside personal technology. According to BDO USA, LLP's 2016 Technology Outlook Survey, which polls 100 technology company CFOs, one in four tech CFOs view cybersecurity concerns as the primary driver of industry growth this year, outflanked only by consumer demand for innovative personal technology, selected by one in three CFOs as the most important factor driving industry growth.

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    11. Apple, Google and Microsoft grilled over Australian tax avoidance

      Apple, Google and Microsoft grilled over Australian tax avoidance

      Apple, Google and Microsoft have faced an Australian Senate inquiry into corporate tax avoidance on Wednesday

      The tech giants have given evidence to a committee regarding the low amounts of tax paid locally in comparison to their profits. From the coy responses of the big three, one may come to the conclusion that the profits are lost somewhere in the Bermuda triangle.

      More about Google , Microsoft , Apple , Australia , and Us World
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    12. Corporations May Be Claiming More than $2 Billion in Erroneous Tax Credits

      Corporations May Be Claiming More than $2 Billion in Erroneous Tax Credits

      Corporations could be erroneously claiming over $2 billion in carryforward general business credits, according to a new government report. The report, from the Treasury Inspector General for Tax Administration, found that the current processes at the Internal Revenue Service, do not ensure that corporations accurately claim carryforward general business credits.

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    13. Small Businesses Receive Form 3115 Relief under Tangible Property Regulations

      Small Businesses Receive Form 3115 Relief under Tangible Property Regulations

      With the release of Revenue Procedure 2015-20 on Friday, February 13, the IRS has made it easier for small businesses to comply with the complex tangible property (repair) regulations. The new Revenue Procedure follows voluminous requests by small businesses and the professional tax community for relief from the burdens and costs of delving into past transactions and filing additional forms imposed by the tangible property regulations.

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    1-24 of 113 1 2 3 4 5 »
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