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Updated: 13 hours 11 min ago

Federal Tax Alert - February 2014

Mon, 02/24/2014 - 12:00am

Comprehensive Analysis of Final Repair/ Capitalization and Proposed MACRS Disposition Regulations

BDO Transfer Pricing Alert - February 2014

Fri, 02/21/2014 - 12:00am

On February 14, 2014, the Internal Revenue Service released the Transfer Pricing Audit Roadmap (the “Roadmap”), which provides an outline for the stages of a transfer pricing audit. The Roadmap is intended for use by international examiners involved in 24-month audits, and states that transfer pricing specialists should be involved prior to the audit’s commencement. The Roadmap is a useful tool for taxpayers, as it indicates the type of information and documents that a taxpayer will be asked to provide in order to support their intercompany transactions, as well as the timeline for which the taxpayer will be expected to do so. The Roadmap emphasizes that fact development is the focus and strength of the Service’s examination teams and even a strong transfer pricing position may not be sustained upon review if the supporting facts are insufficient. The current version of the Roadmap is a work in progress, and the Service encourages users to submit suggestions for improvement.

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International Tax Alert - February 2014

Thu, 02/13/2014 - 12:00am
On February 11, 2014, Finance Minister Jim Flaherty tabled the 2014 federal budget. The government continues to show restraint, and with the Winter Olympics well underway, major tax changes were not expected. The focus of today’s budget was setting the final path to balancing the books. 
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International Tax Alert - February 2014

Thu, 02/13/2014 - 12:00am

Canada's Federal Budget 2014 - The Road to Balance: Creating Jobs and Opportunities

State and Local Tax Alert - February 2014

Mon, 02/10/2014 - 12:00am

On January 15, 2014, in Graphic Packaging Corp. v. Combs, Cause No. D-1-GN-12-003038, the District Court of Travis County, Texas, 353rd Judicial District (the “District Court”), issued an order granting the Comptroller’s motion for summary judgment, and issued an order denying Graphic Packaging Corporation’s (“Graphic’s”) motion for summary judgment. The issue raised in the case was whether Graphic was entitled to elect to use the Multistate Tax Compact (the “Compact”) as the basis for an evenly-weighted three-factor apportionment formula to apportion its Revised Franchise Tax (commonly referred to as the “Margins Tax”) base in lieu of the standard single-receipts factor

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International Tax Newsletter - February 2014

Mon, 02/10/2014 - 12:00am

BDO China has issued a Tax Newsletter that provides an update on PRC taxes up to February 2014. In this update, you will find news and tips from BDO China on: urban land use tax on barren hills, woodland, and lakes; new administrative measures on tax refund (exemption) for zero-rated taxable services; and the elimination of the "examination of the range of activity" criterion for non-profit organizations applying for the tax-exempt status.

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State and Local Tax Alert - February 2014

Mon, 02/10/2014 - 12:00am

Texas District Court Rejects a Taxpayer's Election to U.S. Multistate Tax Compact Evenly-Weighted Three-Factor Apportionment

Compensation & Benefits Alert - February 2014

Wed, 02/05/2014 - 12:00am
Employers who reported severance pay as FICA wages on 2010 employment tax returns have until April 15, 2014, to file a protective claim for refund. This action will ensure the employer will not lose its ability to claim a FICA tax refund for 2010 before the Supreme Court decides the issue in the pending case of United States v. Quality Stores.  A protective claim is filed on Form 941-X, Adjusted Employer's Quarterly Federal Tax Return or Claim for Refund, and can easily be completed within a short period of time because the actual data on the wages and taxes paid are not required and standardized language claiming an estimated refund can be used. If Quality Stores is resolved in favor of the taxpayers, an employer would perfect the protective claim by furnishing the actual payroll data including the amounts of severance paid, along with employee consents to have their FICA wages adjusted and taxes refunded.
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Compensation & Benefits Alert - February 2014

Wed, 02/05/2014 - 12:00am

Protective Claims Due April 15, 2014, For “Quality Stores” Refunds Of FICA on 2010 Severance Payments

Compensation & Benefits Alert - February 2014

Mon, 02/03/2014 - 12:00am
A recent Tax Court decision, Crescent Holdings LLC v. Commissioner, 141 TC No. 15, Dec. 2, 2013, highlights several significant implications when a partnership issues equity compensation to service providers. This case emphasizes the substantially different tax consequences resulting from the issuance of capital interests compared with profits interests in connection with the performance of services to a partnership. Under existing statutory, regulatory, and administrative guidance, the issuance of unvested profits interests is subject to “special” treatment whereas the issuance of unvested capital interests is subject to the general rules of section 83. This distinction can have a material impact on the allocation of taxable income to the holder of an unvested interest in the partnership.
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Compensation & Benefits Alert - February 2014

Mon, 02/03/2014 - 12:00am

Partnership Equity Compensation: Evaluating Significant Differences in Structuring Partnership Equity Issued In Exchange For Services

A Summary of 2014 Pennsylvania Payroll Tax Guidelines

Thu, 01/30/2014 - 12:00am

The following discussion provides a summary of your current obligations under the IRS and Pennsylvania payroll tax and information reporting rules, that we believe you may find helpful in the operation of your business. Please note that this summary is being provided for informational purposes, and is not intended to provide comprehensive tax advice. Please consult with your BDO client service professional for assistance in compliance with these rules.

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A Summary of 2014 Pennsylvania Payroll Tax Guidelines

Thu, 01/30/2014 - 12:00am

A comprehensive guide for employers

State and Local Tax Alert - January 2014

Mon, 01/20/2014 - 12:00am

On January 2, 2014, Michigan Gov. Rick Snyder signed into law Senate Bill 367,1 which allows a corporate taxpayer to make an irrevocable election to include all more-than-50-percent owned, non-unitary corporations, financial institutions, and insurance companies in a Corporate Income Tax combined return.

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State and Local Tax Alert - January 2014

Mon, 01/20/2014 - 12:00am

Michigan Corporate Income Tax: New Law Allows a Taxpayer to Elect To Include Non-Unitary, Controlled Entities in a Combined Group

Federal Tax Alert - January 2014

Tue, 01/07/2014 - 12:00am
2013 was an eventful year for federal tax developments, notable from its onset by passage of the American Taxpayer Relief Act of 2012 (ATRA), which permanently extended the Bush-era tax cuts for all but higher-income taxpayers as well as numerous other important, but previously temporary, provisions. The year also saw an ample release of important guidance relating to the Affordable Care Act, the new Net Investment Income tax and Additional Medicare Tax, capitalization and repairs, the tax treatment of married same-sex couples and much more.
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2013 Tax Year-In-Review - January 2014

Tue, 01/07/2014 - 12:00am

2013 Tax Developments Break New Ground; Build On Past

International Tax Newsletter - January 2014

Fri, 01/03/2014 - 12:00am

BDO China has issued a Tax Newsletter that provides an update on PRC taxes up to January 2014. In this update, you will find news on Goods Meeting Certain Requirements that Are Exported by E-commerce Export Enterprises Are Eligible for Tax Refund (Exemption), Business Tax Policies on Developing Relocation Housing, SAT Announcement on the Administration of Pre-tax Deduction of Inventory Loss by Commercial Retailers, and several other issues.

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International Tax Alert - January 2014

Fri, 01/03/2014 - 12:00am
On January 1, 2014, various Mexican tax laws became effective, either replacing or supplementing the existing tax laws. This alert highlights several of the changes we think will most likely affect our clients with Mexico operations.
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International Tax Alert - January 2014

Fri, 01/03/2014 - 12:00am

Mexico Tax Law Changes

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