Articles

Section 382(h) Proposed Regs Throw Taxpayers a Curveball

NEWS

December 04, 2019

Section 382(h) Proposed Regs Throw Taxpayers a Curveball

The U.S. Treasury and IRS issued proposed regulations under IRC Section 382(h) pertaining to the interaction between built-in gains or losses with Section 382 limitations. GTM’s James P. Swanick, CPA, and Michael J. Tighe, CPA, offer their analysis in the latest issue of the Pennsylvania CPA Journal.

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Living with GILT(I): How to Apply the New Tax on Intangible Overseas Assets

NEWS

September 16, 2019

Living with GILT(I): How to Apply the New Tax on Intangible Overseas Assets

The GILTI calculation is designed to prevent tax base erosion resulting from the transfer of intangible assets to foreign subsidiaries in low-tax countries. Raymond Wynman, CPA, managing director of GTM’s international tax practice, offers a step-by-step guide on the GILTI calculation in the latest issue of CFO Dive.

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Disposing of IRC 197 Intangibles: It’s All or Nothing

NEWS

May 30, 2019

Disposing of IRC 197 Intangibles: It’s All or Nothing

GTM’s James P. Swanitck, CPA, and Michael J. Tighe, CPA explore how the Tax Cuts and Jobs Act of 2017 impacts IRC Section 197 Intangibles and what you need to know about acquisition, disposition, and related-party transactions. Read the full article, as originally published in in the Pennsylvania CPA Journal.

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U.S. Sales & Use Tax vs. VAT Tax: What’s the Difference, and How to Execute Post Wayfair Decision

NEWS

May 08, 2019

U.S. Sales & Use Tax vs. VAT Tax: What’s the Difference, and How to Execute Post Wayfair Decision

If you have been tracking US Sales and Tax over the last few years you may have heard about the Wayfair case and its impact on US sales and use tax. In order to understand Wayfair, we wanted to give a quick overview of U.S Sales and Use Tax and insight on some of the areas you’ll need to focus on when doing business in the U.S. Read the full article by GTM’s Jim Ford, as published in the WTS Global VAT Newsletter Q1/2019.

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Automate and Reclaim Valuable Tax Department Time

NEWS

January 09, 2019

Automate and Reclaim Valuable Tax Department Time

Many tax departments are evaluated how they can better leverage technology to free up time. The idea is that time saved can be repurposed: from items related to data and calculations, to more strategic, analytic, and value-added tasks. Almost always, this involves enhancing technologies, implementing new software, and training personnel. Read this article published in PA CPA Journal authored by GTM’s Ryan Lynch, Managing Director of Tax Automation Services to learn more.

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Tax Departments Can Unlock the Benefits of the TCJA

NEWS

December 12, 2018

Tax Departments Can Unlock the Benefits of the TCJA

History has long shown that businesses with the ability to identify changes in their environment, pivot effortlessly, and quickly adapt to the new setting are the ones that end up on top. Whether or not we have come to grips with it, the reality is that we are living in a “post-tax-reform” world, and there are still a lot of businesses scratching their heads, having more questions than answers. Regardless of your opinion on the change, there are two things for certain: tax reform is here to stay and businesses need to adapt or they will be left behind.  Tax reform is not only transforming how businesses operate internally, but it is also transforming how tax departments are structured to maximize their strategic role for the company.  Read this article to learn more about how your tax department can adapt to unlock the benefits of TCJA.

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Post Wayfair Tax Compliance Issues

NEWS

September 26, 2018

Post Wayfair Tax Compliance Issues

The Wayfair jingle is a catchy one: “Wayfair, you got just what I need.” States are starting to hum this tune, too. And “just what they need” is more revenue in their coffers. In this viewpoint, GTM’s Jim Ford explains compliance issues companies may face post-Wayfair and the technology that could help them meet their new sales and use tax registration and filing obligations. Read this article to learn more.

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State Tax Notes: Navigating the Post-Wayfair World

NEWS

September 17, 2018

State Tax Notes: Navigating the Post-Wayfair World

In June, the U.S. Supreme Court released its ruling in South Dakota v. Wayfair. The ruling did away with physical presence test for determining when an online retailer must collect and remit sales tax in the state of its customers. In this podcast, Paige Jones of Tax Notes talks to GTM’s James Ford, Managing Director, SALT Sales & Use Tax Compliance, about how next steps all businesses, not just retailers should be thinking about. He covers reporting requirements, registrations, tax calculations, tax compliance and more.

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