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Transfer pricing, once an arcane specialty, has been growing as more countries apply their own rules and regulations, some in accordance with the Organization of Economic Cooperation and Development’s initiative on curbing corporate tax avoidance. The number of countries with transfer pricing regimes has now reached 150, according to the Chilean tax authority. The upshot […]
Art of Accounting: My 30th anniversary with Peter Weitsen Peter Weitsen and I started our practice, MendlowitzWeitsen LLP, on July 1, 1988. My life has been enriched every moment of our partnership, which continues even now as part of WithumSmith+Brown, PC.
Today’s digital age gives us instant access to information and virtually unlimited choices at our fingertips. Having all this information at our disposal is empowering when you feel like you’ve covered all the bases and made the best decision possible. But sometimes having too many choices works against you when it prevents you from making […]
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The Internal Revenue Service’s six new schedules for the Form 1040 hardly seem to fit onto a postcard. Last week, the IRS and the Treasury Department posted a preview of the postcard-size Form 1040 that Trump administration officials and Republican lawmakers promised to usher in with last year’s tax overhaul (see IRS and Treasury preview […]
The Internal Revenue Service’s disaster relief efforts on behalf of victims of Hurricanes Harvey, Irma and Maria last year were generally successful, according to a new report, postponing tax filings and payments for more than 68 million taxpayers affected by the killer storms. After President Trump signed major disaster declarations for Florida, Georgia, Louisiana, Puerto […]
The NTA’s Objectives; tax enforcement spans the globe; post-reform child credits; and other highlights from our favorite tax bloggers. Report cards National Taxpayer Advocate (https://taxpayeradvocate.irs.gov/about/nta-blog): “A Few Thoughts About The National Taxpayer Advocate’s Fiscal Year 2019 Objectives Report,” including “some extraordinary information, statistics, and discussion about the IRS’s present state, including customer service; and a […]
The tax prep chain Happy Tax has introduced Crypto Tax Academy, an education provider that offers courses to tax and accounting professionals about the complexities of accounting and taxation of digital currencies such as bitcoin and ethereum. The courses offered at CryptoTaxAcademy.com aim to help practitioners add more clients and increase revenues in the rapidly […]
At the recently held SuiteWorld18, Oracle+NetSuite’s annual user conference, I was struck by the focus on machine learning, a capability NetSuite promised would be a major part of its upcoming technology. I’m sure that many of you know about NetSuite, and that it was acquired by Oracle in 2016. For the few who aren’t familiar […]
In a recent decision, the Tax Court illustrated the importance of good record-keeping, as well as the continuing barrier the Tax Code poses for the full deductibility of expenses related to marijuana facilities, in Alterman v. Commissioner, T.C. Memo 2018-83. While marijuana is legal for medicinal purposes in 30 states and the District of Columbia, […]
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