Brexit | Has the Drama Finally Subsided?
The United Kingdom (UK) officially left the European Union (EU) on January 31, 2020, in the midst of an extended period of confusion, back-and-forth negotiations and unanswered questions for many businesses and individuals that work and live in the area. With an 11-month transition plan that ended on December 31,
Breakdown: Foreign Business Interest Expense Limitation Final Regulations
Significant final regulations under section 163(j), which includes the interest expense limitation that was issued in July 2020 to reflect amendments made by the Tax Cuts and Jobs Act (TJCA) and the Coronavirus Aid, Relief, and Economic Security (CARES) Act, were recently signed at the beginning of January 2021. There
How Transfer Pricing Can Make or Break your Tax Strategy
For multinational businesses, there is perhaps no greater source of confusion and frustration in the tax arena than transfer pricing. Transfer pricing is the arm’s length price charged for good and services between related parties. In cross- border transactions, establishing the correct transfer price is particularly critical because each country
How’s Biden’s Tax Plan Could Impact International Companies
President-Elect Joe Biden has spoken about implementing a lot of potential tax changes while on his campaign trail for president in 2020. While most of the changes he has discussed are in the individual tax realm, but he has a few international corporate tax changes that could affect U.S. corporations
International Reporting – Are You In Compliance?
U.S. Taxpayers, including individuals, companies, trusts, and estates that have delinquent, incomplete or late-filed foreign information returns have significant penalty exposure. Forms 5471, 8865, or 8858 may need to be filed if the U.S. taxpayer has a direct or indirect interest in a foreign corporation, foreign partnership, or foreign disregarded
Payroll Implications of the CARES Act for Manufacturers
Estimated at over $2.2 trillion, the Coronavirus Aid, Relief, and Economic Security (CARES) Act of 2020 is the single most expensive legislation in U.S. history. The CARES act was implemented rather quickly when it was signed into law by President Trump in March of 2020. It was intended to provide