Tax / TAG Tax (J)

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TAG Tax Newsletters


Meet the Co-chairs - TIAG

Spearman, Lisa
Mercer & Hole

On, Wendy
Fineman West & Co. LLP

Brenner, Saul B.
Berdon LLP

Saba, Fuad

Meet the Co-chairs - TAGLAW

Derewenda, Anna K.
Williams Mullen (VA)

Meet the Co-chairs - TAG-SP

Severino, Maria
Collins Barrow Toronto LLP

By: Lee Zimet, CPA, J.D., LL.M.

Starting in 2017, the Republican Party will control the Presidency and both houses of Congress. As a result, it appears reasonably likely that tax reform legislation will become law in 2017. Both parties have been discussing the need for tax reform in recent years, but various forces and obstacles have prevented any of the proposals from becoming law.

Read more: 2017 Tax Reform Legislation: An Analysis of the Trump Tax Plan

Changing jobs can be both exciting and stressful. The last thing on your mind is what to do with your 401(k) or other employer-sponsored retirement plan. You will likely have a few options to continue building tax-deferred savings.  First and foremost, don’t take a lump-sum distribution from your old employer’s retirement plan. It generally will be taxable and, if you’re under age 59½, subject to a 10% early-withdrawal penalty.

Read the entire article.

Today’s CFO is responsible for many things – increasing profitability, improving operating efficiency, tightening the cost structure and developing analytical tools for risk management and decision making. Tax can play an important role in all of these things, however it is often overlooked or underutilised.

Ignoring tax or not incorporating it correctly can create increased levels of tax risk, missed opportunities for tax savings and a loss of forecasting data to improve the tax and finance function in the future.

Read the full article

(Department Of Revenue)

S.O. 2476(E).– In exercise of the powers conferred by section 187 of the Finance Act, 2016 (28 of 2016), the Central Government hereby amends the notification of the Ministry of Finance (Department of Revenue), notification number S.O. 1830(E) dated the 19th May, 2016, published in the Gazette of India, Extraordinary, Part-II, Section-3, Subsection (ii) dated the 19th May, 2016.
2. In the said notification, for clause (ii), the following clause shall be substituted, namely:-

Read more: Revised Payment Schedule: Income Declaration Scheme, 2016

On 11 December 2015, parliament passed the Tax Laws Amendment (Combating Multinational Tax Avoidance) Bill 2015, dubbed ‘MAAL’ (Multi-national anti-avoidance law), which came into effect from 1 January 2016.

The new law - in a nutshell - seeks to address the issue of multinational enterprises shifting profits offshore and away from an Australian tax base via artificial or contrived arrangements that aim to avoid the attribution of business profits to a taxable presence in within Australia.

Read the entire article.