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CARES Act: Cash Tax Refund Opportunities for Corporations

NEWS

April 01, 2020

CARES Act: Cash Tax Refund Opportunities for Corporations

On March 27, President Trump signed the $2 trillion bipartisan Coronavirus Aid, Relief, and Economic Security (CARES) Act (H.R. 748). The following article highlights some of the key corporate income tax refund and savings opportunities in the CARES Act for corporations, along with the U.S. international tax issues which also need consideration and could reduce refund and savings opportunities.

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Reevaluating GILTI Positions During a Downturn: What Can We Expect?

NEWS

March 26, 2020

Reevaluating GILTI Positions During a Downturn: What Can We Expect?

As economies around the world slow down, U.S. taxpayers may find themselves confronting Global Intangible Low-Taxed Income (GILTI) problems of a different nature. In this blog post, I will answer some questions and provide some examples of ways to address tested losses at Controlled Foreign Corporations (CFCs).

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COVID-19 and Economic Obsolescence: A New Chapter in Property Tax

NEWS

March 24, 2020

COVID-19 and Economic Obsolescence: A New Chapter in Property Tax

COVID-19 will likely have profound impacts on the value of the underlying assets of industries, including their property taxes. In this article, GTM’s Robert Butterbaugh, Property Tax Practice Lead, shares a property tax strategy that can be used to partially offset the potential adverse economic impacts of the virus in the months ahead.

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How Can Tax Departments Repatriate Cash During an Economic Downturn? Tax Items to Consider

NEWS

March 19, 2020

How Can Tax Departments Repatriate Cash During an Economic Downturn? Tax Items to Consider

COVID-19, more commonly known as the Coronavirus, has prompted the U.S. to take unprecedented actions to mitigate its spread. Not surprisingly, most economists are now forecasting a significant economic slowdown and recession. Now is the time for tax departments to get organized around returning cash to the U.S.

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Tax & Tech Trends from TEI 2020

NEWS

March 05, 2020

Tax & Tech Trends from TEI 2020

The use of tax technologies like Alteryx in streamlining processes allows tax departments to free up resources for more value-added work.

But the key takeaway from TEI’s 2020 Tax and Technology Seminar? If tax technology is going to reach its full potential, providers and tax departments must work together seamlessly.

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Property Tax: The Ripple Effects of Tariff Wars Between the U.S. and China

NEWS

May 14, 2019

Property Tax: The Ripple Effects of Tariff Wars Between the U.S. and China

Uncertainty in the macro-economic environment that may be triggered by tariffs imposed or increased by the U.S. and the retaliatory tariff counter measures that China may take could lead to market actions and reactions that dramatically impact the values of the underlying assets of certain industries. Since real and personal property taxes are predicated on the market value of assets, it is important to first understand the potential impact of these variables, and then consider these factors in the assessed values subject to property taxation. In this post, I’ll also share a property tax strategy that can be used to offset the negative impacts of higher tariffs that appear to be imminent.

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How to Execute Post-Wayfair Sales & Use Tax Calculations

NEWS

October 18, 2018

How to Execute Post-Wayfair Sales & Use Tax Calculations

The concept of “just charging sales tax” is not as simple as maintaining a tax rate table somewhere and turning on a switch. Tax departments must contemplate all the moving parts — varying tax rates across jurisdictions, origin vs. destination-based sourcing, local tax thresholds, customer taxability, product/service taxability, bundled transactions, drop shipments — things can quickly become overwhelming and almost impossible to maintain manually. Tax calculation is something you must take the time to think about. Read this blog to provoke your thinking.

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No Property? No Payroll? No Problem! The Evolution of State Tax Nexus and Sourcing

NEWS

June 11, 2018

No Property? No Payroll? No Problem! The Evolution of State Tax Nexus and Sourcing

States are slowly providing more legislative developments and insight on their responses to Federal Tax Reform. Now, we are anticipating a SCOTUS decision on state tax nexus limitation (South Dakota v. Wayfair). Read this blog to get up-to-speed on the history and current status.

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