Tax Science, Computers & Technology

Read need-to-know updates, commentary, and analysis on Tax issues written by leading professionals.
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Tax Relief for Identity Protection Services

In 2015, following numerous customer data security breaches at major U.S. companies, the IRS announced special tax relief to breach victims who were provided identity protection services as a result of the breach. In January...more

Health Alert (Australia) - February 1, 2016

In This Issue: - Judgments; Legislation; and Reports. - Excerpts from Judgments: Commonwealth. Administrative Appeals Tribunal 22 January 2016 - JLSP and Innovation Australia [2016] AATA 23 This...more

Private Equity Fund Managers: Annual Compliance Reminders and New Developments

Summary of private equity firms’ compliance obligations, discussion of notable developments in 2015 and outlook for 2016. US federal laws and regulations, as well as the rules of self-regulatory organizations (SROs),...more

EU Customs Developments: December 2015

EU Customs Policy - Union Customs Code Developments – Key Provisions Published - On 29 December 2015, the Implementing and Delegated Acts for the Union Customs Code (UCC) were published in the EU’s Official Journal...more

Draft law: Russian VAT on software license transactions and e-commerce services

On 24 December 2015 a draft law was brought before the State Duma introducing important changes to the VAT taxation of software supply transactions and IT services ('Draft Law'). VAT on e-commerce services supplied to...more

UVA notifies employees of illegal access to human resources information through phishing scheme

The University of Virginia (UVA) has notified approximately 1,400 of its employees that unauthorized individuals were able to access its HR system and the personal information of 1,400 employees of the Academic Division. The...more

Singapore’s Income Tax (Amendment) Bill 2016

Upcoming changes to the Exchange of Information framework hints at future adoption of the Organisation for Economic Co-operation and Development’s Common Reporting Standards. The crux of Singapore’s Income Tax...more

Tax season may bring more breaches; new victim, TaxAct

This tax season, the Internal Revenue Service (IRS) has been working closely with big tax preparation vendors and chains to improve the security this year and safeguard against widespread identity theft. The IRS is now...more

Cybersecurity and Data Privacy: Belated Holiday Gift - The IRS Doubles Down on Tax Free Identity Protection Services (1/16)

Following several high-profile breaches of business and government databases affecting the personal information of millions of Americans (including the IRS’s "Get Transcript" app) many businesses, governmental agencies and...more

IP, IT and mass communications. Major Russian Legislation Changes for 2015 - Our traditional overview of the most important...

New songs on the main - Most of 2015 was spent anticipating the entry into force of RF Federal Law ? 242-FZ dated 21.07.2014 “On the Amendment of Certain Legislative Acts of the Russian Federation Clarifying the...more

Michigan Backs Off Cloud Tax, Refund Opportunities Available

After refusing to back down on the issue for years, the Michigan Department of Treasury (Department) issued guidance last week to taxpayers announcing a change in its policy on the sales and use taxation of remotely accessed...more

Michigan’s New Year Resolution: Refund Opportunities Associated with Electronically Accessed Software and Certain Online Services

The Michigan Department of Treasury (Department) issued a Notice announcing that it will no longer impose sales or use tax on certain prewritten computer software accessed electronically and associated online services. The...more

Best Practices for Handling Vehicle Event Data Recorders

Event data recorders, also known as “black boxes” or “sensing diagnostic modules,” capture information such as the speed of a vehicle and the use of a safety belt. In the event of a collision this information can be used to...more

Regional Income Tax Authority in Ohio loses info on 50,000 people

The Regional Income Tax Agency of Ohio (RITA) announced on December 31, 2015, that it lost the personal data of approximately 50,000 individuals who filed tax forms with the agency in November. RITA provides tax collection...more

IRS provides tax relief for pre-breach identity protection services

The IRS released a bulletin on December 30, 2015, (Announcement 2016-02) announcing that it would extend the tax exemption issued in August to organizations who provide credit monitoring to its employees following a data...more

An Ounce of Prevention…Is Tax-Free: IRS Expands Tax Relief to Pre-Data Breach Identity Theft Protection Services

As reported here after last year’s customer data security breaches at major U.S. corporations, the IRS announced special tax relief for identity protection services provided to individuals affected by a security breach. In...more

The United States Taxation of Bitcoins and Transactions Denominated in Bitcoins

On March 25, 2014 the Internal Revenue Service published Notice 2014-21 which described the United States taxation of Bitcoins and the United States taxation of transactions denominated in Bitcoins. This Notice generally...more

Use of Provisional Patent Applications

Provisional patent applications became available on June 8, 1995 in response to the General Agreement on Tariff and Trade (the GATT treaty) whereby applicants in the United States are able to establish an early filing date by...more

Appropriations Bill Has a Few Surprises

On December 18, the President signed into law H.R. 2029, the Consolidated Appropriations Act Of 2016, (the “Act”), the 887 page bill which avoided a closure of federal government functions. Beyond the massive funding of the...more

The Tax Man Cometh Not to ID Protection Recipients Either

Late last year, while you were probably busy picking out which bubbly to pop at the stroke of midnight, the IRS gave us another reason to celebrate. You may remember (as we wrote previously) the IRS said it would not require...more

Energy Technology Connections Newsletter: Your Law Firm Link to Industry News - December 2015

A Note from the Editors - Our December edition of Energy Technology Connections brings you recent industry highlights, the latest news from Capitol Hill, and a list of upcoming energy industry events. First, we feature...more

Tax Breaks for Data Centers: The Numbers Might Be Cloudy

States are competing aggressively to attract data centers with various tax incentives. Data center companies and their business customers are taking them up on their offers. But are these incentives really a good deal for the...more

Voluntary Disclosure Opportunity for Businesses and Individuals Who Access Cloud Computing Services in Chicago or Sell Them to...

Earlier this year, the City of Chicago’s Department of Finance issued “Personal Property Lease Transaction Tax Ruling #12 (clarifying Exemption 11),” originally effective as of July 1, 2015, clarifying the City’s position on...more

Federal Budget Suspends Medical Device Excise Tax for Two Years

The Patient Protection and Affordable Care Act's (ACA) 2.3 percent medical device excise tax was contentious even before taking effect on January 1, 2013. Under the ACA, medical device manufacturers and importers are required...more

Congress Suspends Medical Device Tax for 2 Years

The New York Times reports that Congress has passed a $1.8 trillion package of spending and tax cuts which includes a two-year-long suspension of the medical device tax and a permanent extension of the research and...more

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