Tax Science, Computers & Technology

Read need-to-know updates, commentary, and analysis on Tax issues written by leading professionals.
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Data Security Breach at IRS Disrupts Taxpayers and Tax Professionals

The Internal Revenue Service (IRS) announced on Tuesday, May 26, 2015 that criminals had fraudulently obtained the tax returns and account information of more than 100,000 taxpayers. The criminals used this information to...more

With the IRS breach, it’s clear your data is at risk

The Internal Revenue Service (IRS) released on Tuesday, May 26, 2015, news of a major data breach, estimated to have affected 100,000 U.S. households’ tax returns. The data was wrongfully obtained from an IRS application...more

IRS Data Breach Results in Thousands of Fraudulent Tax Returns

On Tuesday, May 26th, 2015, the IRS disclosed that a data breach of its online Get Transcript application occurred when sophisticated hackers attempted to access over 200,000 personal tax accounts. More importantly, however,...more

IRS Website Breached

The IRS announced yesterday that criminals had used the “get transcript” application on its website to gain access to the tax information of approximately 100,000 taxpayers. The IRS has temporarily shutdown this application...more

Dubai launches new design and e-commerce hubs

A cornerstone of Dubai's success in attracting businesses and encouraging growth across a diverse range of sectors has been the continued establishment of free zones. These special economic zones offer business-friendly...more

New York Issues Tax Advisory Opinion Regarding Cloud Computing Product

The new guidance addresses the New York sales and use tax treatment of cloud computing services. Background - On April 14, the New York State Department of Taxation and Finance (the Department) issued Advisory...more

Japan makes significant changes to Consumption Tax Act – steps for offshore e-commerce providers

Japan’s National Diet has passed an amendment to the Consumption Tax Act which includes several important changes that especially affect offshore providers of e-commerce services in Japan. Change in cross-border...more

OECD Discussion Draft on Cost Contribution Arrangements vs. US tax rules on Cost Sharing Arrangements: key comparisons

The OECD has released a Discussion Draft on Cost Contribution Arrangements (CCAs) as part of its ongoing activities related to eliminating Base Erosion and Profit Shifting (BEPS) by multinational enterprises. This...more

Four Things You Should Know About New York's Recent Advisory Opinion on the Taxation of SaaS

On May 15, 2015, the New York Department of Taxation and Finance determined in Advisory Opinion TSB-A-15(2)S that the sale of certain cloud computing services were not subject to New York State sales and use tax. The Advisory...more

Medical Device Tax Repeal Heating Up

Following up on the hearing from B. Braun Medical Inc. advocating for the repeal of the medical device tax, according to news sources, more than a dozen House Democrats are pressuring leadership to advance a bill repealing...more

Tax Policy Update

NUMBER OF THE WEEK: 40 percent. The average combined federal and state tax rate paid by most U.S.-based firms, according to a Wall Street Journal op-ed by James Freeman today, entitled “The Tax Takeover Craze.” Freeman claims...more

[Event] BakerHostetler 26th Annual Legislative Seminar - June 10, Washington, D.C.

Please join us on Wednesday, June 10, 2015, for the 26th Annual Legislative Seminar in Washington, D.C., a one-day program focused on tax, budget, financial services, banking, healthcare, energy, and technology....more

Washington Healthcare Update

This Week: Health Subcommittee Advances 21st Century Cures, Full Committee Action Scheduled…Senate Finance Committee Hearing: Chair Hatch to Launch New Initiative on Improving Chronic Care for Medicare Patients…Hawaii’s...more

New York Advises Sales of “Computing Power” Not Taxable

Yesterday, the New York Department of Taxation and Finance Office of Counsel issued advisory opinion TSB-A-15(2)S holding that cloud computing vendors providing “Internet infrastructure” were not subject to sales tax. ...more

Arizona ALJ: Remote Provider of Subscription Research Service is the Lessor of Tangible Personal Property

In a curious decision out of Arizona, an Administrative Law Judge (ALJ) found an out-of-state provider of online research services was properly assessed transaction privilege tax (TPT, Arizona’s substitute for a sales tax)...more

Internal Revenue Service Announces Creation Of A Criminal Investigative Team To Focus On Cyber Tax Fraud

A May 5, 2015 report detailed that the Internal Revenue Service (“IRS”) has created a new cybercrime investigation team. Based in Washington, D.C., and made up of about a dozen specially-trained agents, the unit will focus...more

Bitcoin and the Like: Further Tax Developments to Monitor

Virtual currency developments continue to emerge, including state tax guidance, a court decision on deductibility of losses, and the Uniform Fiduciary Access to Digital Assets Act (the “Act”). State Tax Guidance - The New...more

FinCEN Announces First Civil Enforcement Action Against Virtual Currency Exchanger

Continuing its aggressive anti-money laundering enforcement agenda, the Treasury Department’s Financial Crimes Enforcement Network (FinCEN) announced yesterday that it had commenced the first-ever civil enforcement action...more

Washington Healthcare Update

This Week: House E&C Releases Discussion Draft of 21st Century Cures Legislation Ahead of Legislative Hearing... FDA Finalizes Biosimilar Guidance Documents... CMS Updates Wage Index and Payment Rates for the Medicare Hospice...more

Iowa Bill Creates Tax Credit For The Production Of Renewable Chemicals

Iowa Senate bill SF 350: the Renewable Chemical Production Tax Credit Program was introduced in March 2015, and is awaiting review in the Ways & Means Committee....more

Tax: Tax Considerations for Technology Licenses

The parties to licenses of technology should consider tax issues with such licenses. The following is a summary of some of the tax implications that may arise with regard to technology licenses....more

B. Braun Executive Urges Medical Device Tax Repeal

The Morning Call reports that an executive from B. Braun Medical Inc. has urged federal lawmakers to undo a tax on medical devices. According to the report, Bruce Heugel, the chief financial officer of B. Braun, recently...more

TurboTax’s software maker Intuit on the hot seat for lax security measures to prevent tax fraud

Intuit, Inc., the maker of the software used by TurboTax customers to file electronic tax returns stopped its e-filing return program in February after receiving notices from multiple states that thousands of fraudulent tax...more

Reed Smith's Government Contracts Weekly Rundown - April 2015 #4

Here is a rundown of last week’s top developments related to government contracts to get you back on track and ready for this week....more

Washington Healthcare Update

This Week: Energy and Commerce Health Subcommittee Explores Post-Acute Bundling…CMS Releases First-ever Hospital Compare Star Ratings…Fiscal Year 2016 Proposed Inpatient and Long-term Care Hospital Policy and Payment Changes....more

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