News & Analysis as of September 18, 2024

Income Taxes › Accountants

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Income taxes are taxes that are collected on the individual earnings of persons or entities. Depending on the jurisdiction, income taxes are calculated and collected in a variety of ways. Some tax systems collect income taxes based on a progressive scheme, while others may utilize a proportional or regressive framework. less -

Social engineering in tax season: Form W-2 exploits

Constangy, Brooks, Smith & Prophete, LLP on 1/31/2023

This year’s deadline for filing individual tax returns is April 18. Malicious actors routinely target human resources professionals, certified public accountants, and individual employees with social engineering attacks...more

[Hybrid Event] The New Corporate AMT and Attorney/Client Privilege: Why Your Attorney Should Hire Your Accountant - January 12th,...

Vinson & Elkins LLP on 12/29/2022

The new corporate alternative minimum tax (“CAMT”) generally applies to corporations with 3-year average “book” income in excess of $1 billion. Thus whether a corporation owes CAMT may depend on positions taken under GAAP....more

Tax Practitioners May Use Return Information to Market to their Return Preparation Clients, But Some Use and Disclosures Require...

Mitchell, Williams, Selig, Gates & Woodyard,... on 8/3/2018

Accounting firms have specific rights and duties that come into play when they market to their clients using data gleaned from the return preparation process. The general rule is that returns and return information cannot be...more

Mixed Funds – Limited Window for Cleansing Until 5 April 2019

Akin Gump Strauss Hauer & Feld LLP on 3/30/2018

• Individuals that are UK tax resident and non-UK domiciled have the ability until 5 April 2019 to cleanse their mixed overseas funds and accounts. • Affected individuals should act now to review their position and assess...more

The Accountant and the Paradise Papers

Foodman CPAs & Advisors on 11/20/2017

Under U.S. Tax Law, it is appropriate for an Accountant to advise a US Taxpayer regarding his tax efficiency if the Taxpayer wants to pay less tax and accumulate wealth. While tax avoidance is legal and encouraged by the...more

Stay out of TROUBLE: Make sure your CPA is asking you the right QUESTIONS regarding Foreign Accounts!

Foodman CPAs & Advisors on 3/1/2017

US International tax is complicated. It often overwhelms US Taxpayers. That is why an international tax specialist CPA is the best choice for the work. Nonetheless, many Taxpayers seek the help of tax return preparers...more

Minnesota Department of Revenue Publishes Revenue Notice Addressing Location of a Taxpayer’s Attorneys, Accountants, and Bank...

Dorsey & Whitney LLP on 2/8/2016

On February 1, 2016, the Minnesota Department of Revenue (the “Department”) issued Revenue Notice # 16-01 (available here), in which the Department explains how it will view the location of a taxpayer’s attorneys,...more

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