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Data Management

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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Global Updates: Managing the Impacts of COVID-19

NEWS

March 16, 2020

Global Updates: Managing the Impacts of COVID-19

Newsfeed for 50+ countries worldwide. Experts from WTS Global, GTM’s global tax network, have collected information and advice on managing the impact of COVID-19 in their home markets.    

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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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Sonepar USA Reduces Exposure Risk & Saves Weeks of Provision Prep and Review Time by Automating the Tax Provision Process

Case Studies

Sonepar USA Reduces Exposure Risk & Saves Weeks of Provision Prep and Review Time by Automating the Tax Provision Process

“Automating the provision process has saved Sonepar USA’s tax team upwards of 120 hours (in aggregate) for the 2017 tax-year alone. The GTM team facilitated a smooth transition from our manual Excel approach to take immediate advantage of ONESOURCE Tax Provision (OTP) software. Our new provision process has been recognized positively up to the senior finance executives, raising the visibility and value of our tax department’s contributions to the bottom line.” 
~ Nick Vanderlyke, Senior Manager, Income Tax, Sonepar USA

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