The Arm’s Length principle
If two unrelated companies trade with each other, a market price for the transaction will generally result. This is known as “arms-length” trading, because it is the product of genuine…
Read moreTransfer Pricing
Transfer pricing is one of the most important issues in international tax. “Transfer pricing is the leading edge of what is wrong with international tax” – Lee Sheppard, Tax Analysts, August…
Read moreWrongful Incarceration
In the Protecting Americans from Tax Hikes Act of 2015 (PATH Act), Congress added a new exclusion from income under section 139F of the Internal Revenue Code. Under this…
Read moreNew Private Debt Collection Program to Begin Next Spring; IRS to Contract with Four Agencies; Taxpayer Rights Protected
WASHINGTON – The Internal Revenue Service announced today that it plans to begin private collection of certain overdue federal tax debts next spring and has selected four contractors to implement…
Read moreIRS Works to Help Taxpayers Affected by ITIN Changes; Renewals Begin in Octobe
The Internal Revenue Service today announced important changes to help taxpayers comply with revisions to the Individual Taxpayer Identification Number (ITIN) program made under a new law. The changes require…
Read moreAttempts by Exempt Organizations to Influence Judicial Appointments
Under the Internal Revenue Code, tax-exempt organizations are allowed to try to influence the nomination or confirmation of a potential justice to the federal court, including the Supreme Court. However,…
Read moreThe Restriction of Political Campaign
Under the Internal Revenue Code, all section 501(c)(3) organizations are absolutely prohibited from directly or indirectly participating in, or intervening in, any political campaign on behalf of (or in opposition…
Read moreHow a Summer Wedding Can Affect Your Taxes
With all the planning and preparation that goes into a wedding, taxes may not be high on your summer wedding checklist. However, you should be aware of the tax issues…
Read moreIRS Has Refunds Totaling $950 Million for People Who Have Not Filed a 2012 Federal Income Tax Return
WASHINGTON — The Internal Revenue Service announced today that Federal income tax refunds totaling $950 million may be waiting for an estimated one million taxpayers who did not file a…
Read moreEarly Retirement Distributions and Your Taxes
Many people find it necessary to take out money early from their IRA or retirement plan. Doing so, however, can trigger an additional tax on top of the income tax…
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