Corporate Taxation

  • Number of Expatriations Continue to Rise

    By:
    Alicea Castellanos, CPA, TEP, N.P. and Jack R. Brister, TEP
    |
    Sep 1, 2016
    American expats continue to renounce their citizenship at an increasing rate, although the overall percentage taking this step remains relatively small. Driving this trend is the fact that the United States is the sole country in the Organisation for Economic Co-operation and Development (OECD) that imposes taxes on its citizens regardless of where they reside. 
  • U.S. Announces Greater Scrutiny of Foreign-Owned LLCs: Is Peer Pressure a Motivator?

    By:
    Alicea Castellanos, CPA, TEP, N.P. and Jack R. Brister, TEP
    |
    Aug 1, 2016

    The United States and other jurisdictions have spent a decade trying to identify owners of foreign corporations. Now, a five-year-old report by the Organization for Economic Cooperation and Development (OECD) might have served as an impetus for a U.S. proposal regarding disclosure requirements for limited liability companies (LLCs). 

  • Form 926: Return by a U.S. Transferor of Property to a Foreign Corporation

    By:
    Mitchell Sorkin, CPA, MBA, PFS
    |
    Aug 1, 2016

    This article is the first in a series of articles explaining various IRS forms that relate to the reporting of foreign transactions.

  • Bipartisan Budget Act of 2015 Changes Partnership Audit Rules

    By:
    Ellen S. Brody, JD, CPA, and Vivek Chandrasekhar, JD
    |
    May 1, 2016
    On Nov. 2, 2015, Congress enacted the Bipartisan Budget Act of 2015 ("BBA"), repealing the previous audit regime in effect for partnerships that had been around since the Tax Equity and Fiscal Responsibility Tax Act of 1982 ("TEFRA"). 
  • The Panama Papers: A Reminder to Taxpayers That It’s Not Too Late to Clean Up Unreported Offshore Assets

    By:
    Bryan Skarlatos, Esq., and Michael Sardar, Esq.
    |
    May 1, 2016
    So far, the “Panama Papers” - as they have come to be called - have disclosed that several high-profile individuals around the world were holding foreign bank accounts and other assets through Panamanian offshore entities.
  • The 2015 Business Extender Law

    By:
    Stewart Berger, CPA
    |
    Mar 1, 2016
    On Dec. 18, 2015, President Obama signed the “Protecting Americans from Tax Hikes Act of 2015” (PATH Act). Highlights of the law as it pertains to businesses are as follows
  • IC-DISCS 101: The History, Relevance, and Importance of Interest-Charge Domestic International Sales Corporations

    By:
    David Roer, CPA
    |
    Mar 1, 2016
    In a recent heated tax discussion, the topic of Interest-Charge Domestic International Sales Corporations (commonly known as an IC-DISC) was brought up. 
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