2023 BDO Technology CFO Outlook Survey
January 29, 2023Download the 2023 BDO Technology CFO Outlook Survey to find out how tech CFOs are adapting to build resilience and capture new opportunities — and see our analysis of what that means for your business.
2023 BDO CFO Outlook Survey
January 29, 2023The 2023 BDO CFO Outlook Survey offers critical insights to support strategic decision-making and help your company thrive.
Foreign Financial Institutions Get Relief on Reporting U.S. Taxpayer Identification Numbers
January 24, 2023The IRS has granted new temporary relief under the Foreign Account Tax Compliance Act (FATCA) for certain foreign financial institutions (FFIs) that continue to be unable to obtain and report U.S. taxpayer identification numbers (TINs) for certain preexisting accounts.
Planning to deduct for losses this tax season? Be sure to read the fine print.
January 19, 2023Deducting losses is a high-priority item for taxpayers in the highest marginal income tax bracket.
New Jersey Removes Requirement to Affirmatively Make Separate State S Corporation Election; Provides Opt-Out
January 12, 2023New Jersey enacted a new tax law (A.B. 4295) on December 22, 2022, that accomplishes three things: (1) eliminates the requirement to affirmatively elect New Jersey S corporation status, while including an opt-out provision; (2) adopts the federal centralized partnership audit regime, with certain modifications; and (3) ends certain COVID-related extensions.
Brazil’s Proposed Transfer Pricing Legislation Has U.S. Foreign Tax Credit Implications
January 10, 2023The Brazilian government on December 29, 2022, published draft legislation to align Brazil’s transfer pricing rules with the Organization for Economic Cooperation and Development (OECD) Transfer Pricing Guidelines for Multinational Enterprises and Tax Administrations. This potential change in Brazilian transfer pricing policies could have significant consequences from a U.S. transfer pricing and international tax perspective.
IRS, Treasury Release Corporate AMT Interim Guidance
January 10, 2023The Inflation Reduction Act (IRA) enacted on August 16, 2022, created a new corporate alternative minimum tax (AMT) for taxable years beginning after December 31, 2022. On December 27, 2022, the Treasury Department and the Internal Revenue Service issued interim guidance in the form of Notice 2023-7, addressing how the new corporate AMT applies to partnership interests, consolidated return groups and other significant events that affect corporations, including merger and acquisition activities and excepted cancellation of debt income.
IRS, Treasury Issue Interim Guidance on Stock Repurchase Excise Tax
January 10, 2023The Inflation Reduction Act (IRA) enacted on August 16, 2022, created a new corporate excise tax on stock repurchases for taxable years beginning after December 31, 2022. On December 27, 2022, the Treasury Department and the Internal Revenue Service issued interim guidance -- Notice 2023-2 -- on the corporate excise tax. The notice addresses time-sensitive issues with the expectation that forthcoming proposed regulations will provide clarity on the statutory provision
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