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global round-up

Weekly Global Roundup: July 30-August 5, 2016

August 8, 2016, 1:49 pm EDT in Blog, Global Information Reporting

Besides the Treasure department considering changing the IGA statuses of jurisdictions that are currently "In Effect" to "In Force" here are the other changes going on throughout the world in our global roundup compiled by our expert researchers. Cyprus Releases New FATCA Filing Notice Cyprus has released a new FATCA filing notice reminding...

TIN ACA

IRS Releases Long Awaited TIN Solicitation Guidance

August 4, 2016, 1:41 pm EDT in Affordable Care Act, Blog, Tax Information Reporting

The IRS recently released long-awaited guidance for filers regarding TIN solicitation. The IRS proposed regulations for 6055 contain a number of clarifications for providers of health insurance. The most recent guidance—Notice 2015-68—filers received was released last September, just shy of a year ago.The proposed regulations discussed comments from filers regarding...

Colorado Makes Sovos Compliance Only Integrated End-to-End Sales Tax Solution; Software Users Will Be “Held Harmless” for Tax Gaps

August 4, 2016, 12:14 pm EDT in Blog, News, Press Releases

Sovos becomes the first software provider to integrate a hold-harmless database with an approved e-file software solution application to help reduce the sales and use tax compliance burden on businesses by automating accurate tax calculation and state and local filing. Boulder, Colorado, August 4, 2016 — Sovos Compliance, a global leader...

IGA

Treasury To Reconsider IGA Status For Certain Jurisdictions

August 4, 2016, 11:06 am EDT in Blog, Global Information Reporting

This week, the Treasury Department published Announcement 2016-27 detailing its plan to reevaluate jurisdictions whose FATCA Intergovernmental Agreement (IGA) status is treated as “in effect.” This means that Foreign Financial Institutions (FFIs) in jurisdictions whose IGA is currently signed or considered in substance may face changes to how they report...

CRTRA Conference Recap: FLSA, ACA Reporting and Sales Tax Challenges

August 2, 2016, 9:27 am EDT in Affordable Care Act, Blog, Indirect Tax

Recently, we attended the 2016 CRTRA Conference in Vail, Colorado. Along with the beautiful scenery, we were very impressed with the level of engagement at the Chain Restaurant Total Rewards Association and thoroughly enjoyed our time talking to people throughout the industry.We understand that Fair Labor Standards Act (FLSA) is...

Czech Republic

Anti-Fraud Measures in the Czech Republic: Conflict and Controversy

August 1, 2016, 9:32 am EDT in Blog, Indirect Tax, Value-Added Tax

The principle of open borders between European Member States, leading to a single, united economy, is at the very heart of the European Single Market, including the Czech Republic, which is a member. But the lack of cross-border trade barriers has hidden drawbacks. Since its inception, the Single Market has...