International tax reforms, along with supply chain transformations spurred by the COVID-19 pandemic, are contributing to an unprecedented level of uncertainty about transfer pricing among business leaders, according to a new survey by Ernst & Young. The 2021 EY International Tax and Transfer Pricing survey polled 979 transfer pricing professionals
The Internal Revenue Service’s Office of Chief Counsel is spelling out new requirements for information from companies submitting claims for research credit tax refunds to prove they’re valid. In a recent Chief Counsel memorandum, the agency said it wants more detailed information about all the business components for which the
The Internal Revenue Service said Friday it’s updating the process for the frequently asked questions pages it posts on its website about new tax legislation. The IRS is updating the process to address concerns about transparency and the potential impact on taxpayers when the FAQ pages on its website are
TurboTax is a leading software catering to the income tax needs of small and medium-sized businesses. However, despite its easy to operate tools, the application faces technical glitches like the TurboTax Error 2329. The user mainly causes this error is attempting to download and install the latest program updates. Although
While the switch from working in an office to working at home during the pandemic was abrupt, most businesses and their employees adapted quickly to remote work, discovering it improved work-life balance. Now, you can go for a run in the middle of a busy workday and still be productive. Staff
The cybersecurity landscape is always changing: Between 2019 and 2020, ransomware attacks rose by 180 percent in North America alone, according to a 2021 report by cybersecurity firm SonicWall. The total global cost of damages from ransomware attacks is projected to exceed $20 billion in 2021, and the total global cost of cybercrime
In a new case, Nurumbi, 2021-79, TC Memo 2021-79. 6/30/21, an Uber driver ran afoul of the rules, but at least was able to salvage some deductions in Tax Court. Participants in the so-called “gig economy” ranging from drivers to temporary landlords to delivery services people are generally treated as
Corporate board members may finally be ready to embrace environmental, social and governance reporting by their finance teams. Nearly two-thirds (64%) now say that ESG is linked to their company’s strategy, compared to just 49% in 2020, according to PricewaterhouseCoopers’ 2021 Annual Corporate Directors Survey, which PwC released Tuesday. Feeling
Let’s time travel back to a couple of days before Santa descended chimneys in 2017, which was when Congress okayed and President Donald J. Trump signed the Tax Cuts and Jobs Act (TCJA). Both supporters and critics of the 45th president agree that the TCJA was his signature legislative accomplishment,
The Social Security Administration said Wednesday that Social Security and Supplemental Security Income benefits will go up 5.9% next year, affecting approximately 70 million Americans. The 5.9% cost-of-living adjustment, or COLA, will start with benefits payable to more than 64 million Social Security beneficiaries in January. Later in the year,
