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International Tax Newsletter - September 2014

Tue, 09/16/2014 - 12:00am
The Guangdong Provincial Local Taxation Bureau, a provincial-level tax bureau office of China's State Administration of Taxation ("SAT"), recently denied beneficial owner status to a Hong Kong company and two Mauritius entities after they requested treaty-reduced withholding tax rates for their Chinese-source income.
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International Tax Newsletter - September 2014

Tue, 09/16/2014 - 12:00am

China Tax Newsletter

International Tax Newsletter - September 2014

Tue, 09/16/2014 - 12:00am

China Tax Newsletter

State and Local Tax Alert - September 2014

Mon, 09/08/2014 - 12:00am

Massachusetts Enacts an Economic Development Bill that Revises the Regular Research Credit, Provides an Alternative Simplified Research Credit, and Establishes Other Tax Incentives.

State and Local Tax Alert - September 2014

Mon, 09/08/2014 - 12:00am

Massachusetts Enacts an Economic Development Bill that Revises the Regular Research Credit, Provides an Alternative Simplified Research Credit, and Establishes Other Tax Incentives.

Federal Tax Alert - August 2014

Tue, 08/26/2014 - 12:00am
On Thursday, August 14, the Treasury Department and the Internal Revenue Service issued final regulations on dispositions of tangible depreciable property (T.D. 9689).  The final regulations provide guidance for taxpayers regarding dispositions of property subject to depreciation under section 168 of the Internal Revenue Code. The final regulations affect business dispositions of MACRS property.
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Federal Tax Alert - August 2014

Tue, 08/26/2014 - 12:00am

Final Regulations on Dispositions of Tangible Depreciable Property

Federal Tax Alert - August 2014

Tue, 08/26/2014 - 12:00am

Final Regulations on Dispositions of Tangible Depreciable Property

International Tax Newsletter - August 2014

Mon, 08/25/2014 - 12:00am
The latest tax newsletter from BDO China covers timely topics, such as: new rules on reporting outbound investment for enterprises, simplified and consolidated VAT rates, new versions of VAT invoices, and more.
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International Tax Newsletter - August 2014

Mon, 08/25/2014 - 12:00am

China Tax Newsletter

International Tax Newsletter - August 2014

Mon, 08/25/2014 - 12:00am

China Tax Newsletter

BDO Knows: ASC 740 - August 2014

Tue, 08/12/2014 - 12:00am
Deferred tax assets (“DTAs”) are required to be assessed for recoverability or realization (i.e., whether or not they expect to reduce or save cash tax outlays in future periods and/or carryback periods). To be recognized, the likelihood that DTAs will be realizable must exceed 50% based on weighing all available evidence. DTAs are reduced, if necessary, by the amount of any tax benefits that, based on available evidence, are not expected to be realized. The need for a valuation allowance is assessed based on the gross available DTAs. In making this assessment, a company should consider the existence of sufficient taxable income (of the appropriate character, i.e., ordinary vs. capital gain) from four possible sources: future reversals of existing taxable temporary differences (“TTDs”), future taxable income exclusive of reversing temporary differences (income forecast), taxable income in carryback years if carryback is permitted, and tax planning strategies.1 As explained in this Q&A, the reversal of TTDs related to indefinite-lived assets cannot (in most cases) be determined or scheduled, thereby precluding them from being considered as one of the four permissible sources of income for valuation allowance purposes. 

State and Local Tax Alert - September 2014

Sat, 08/09/2014 - 12:00am

On August 13, 2014, Massachusetts Governor Deval Patrick signed into law House Bill No. 4377, 188th Gen. Court (Mass. 2014), entitled "An Act Promoting Economic Growth across the Commonwealth" ("H.B. 4377"), that revises the calculation of the corporate net income tax regular research credit and provides an elective alternative simplified approach to calculating the same credit.

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State and Local Tax Alert - August 2014

Wed, 08/06/2014 - 12:00am

On July 22, 2014, the Franchise Tax Board ("FTB") issued Legal Ruling 2014-01, in which the FTB discusses when a corporate member of a limited liability company ("LLC") classified as a partnership for federal income tax purposes is required to report and pay California taxes and fees.

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State and Local Tax Alert – August 2014

Wed, 08/06/2014 - 12:00am

The California Franchise Tax Board Issued a Legal Ruling that Discusses When a Corporate Member of a Limited Liability Company Classified as a Partnership is Required to Report and Pay Taxes and Fees

State and Local Tax Alert – August 2014

Wed, 08/06/2014 - 12:00am

The California Franchise Tax Board Issued a Legal Ruling that Discusses When a Corporate Member of a Limited Liability Company Classified as a Partnership is Required to Report and Pay Taxes and Fees

Unclaimed Property Notice - July 2014

Wed, 07/30/2014 - 12:00am
Pennsylvania House Bill 278 (Act No. 126) passed both houses and was signed by the Governor on July 10, 2014. The legislation, intended to help the Commonwealth close the budget gap, provides for (a) reduced holding periods for certain unclaimed property, (b) clarification of holding period commencement and (c) authority of the State Treasurer to assess costs of audit and non-filing penalties against the holder and hire contract auditors.

State and Local Tax Alert - July 2014

Wed, 07/30/2014 - 12:00am

The Massachusetts Department of Revenue recently issued guidelines for the two-month tax amnesty program established under the fiscal year 2015 budget signed by Governor Deval Patrick on July 11, 2014. The Department intends to issue a Technical Information Release and post frequently asked questions on its Web site with further details.

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State and Local Tax Alert – July 2014

Wed, 07/30/2014 - 12:00am

The Massachusetts Department of Revenue Issues Guidelines for its Two-Month Tax Amnesty Program

State and Local Tax Alert – July 2014

Wed, 07/30/2014 - 12:00am

The Massachusetts Department of Revenue Issues Guidelines for its Two-Month Tax Amnesty Program

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