Blog

IRS shutdown may be on the horizon

IRS Commissioner John Koskinen has made another announcement about how the agency's budget cuts, which Congress included in the The Tax Increase Prevention Act, will present noticeable consequences. Following his announcement that the funding reduction has led to a hiring freeze, he has now said the agency could experience a two-day shutdown. This isn't the […]

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Latin America E-Invoicing is not just a local issue when you are a US Public company

The Foreign Corrupt Practices Act is the law of the land. In order for multinational companies to engage in business, they have to be sure that the regulation is adhered to. Though companies that run afoul of the FCPA typically aren’t household names, that certainly wasn’t the case for Hewlett-Packard, the Palo Alto, California-based information […]

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When is a penny not a penny?

Rounding vs. the Sales Tax Bracket System We all learned about rounding in grade school. If you have something, that calculates out to less than 0.5 cents you round down. If it’s 0.5 cents you round up to the next penny. If you multiply a purchase price of .74 cents by a 6% sales tax rate […]

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Clearing the skies of common cloud computing myths

Cloud computing has grown by leaps and bounds in the fairly short period of time in which it’s been around for public consumption and use. Yet despite improved understanding of what the cloud is, there are a number of half-truths and misunderstandings about it, resulting in an uninformed consumer. “Cloud computing, by its very nature, is […]

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Accounts Payable: Latin America is Electronic, the Rest of the World is Paper

A recent poll suggests that many businesses’ accounts payable departments are bogged down with excessive amounts of paper, reducing overall productivity and efficiency.

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How the e-invoice mandate helps drive supply chain finance

Supply chain finance is a system of business operation that, to use a common term, knocks out three birds with one stone. In other words, it benefits the buyer, seller and financing institution involved in a deal, enhancing overall efficiency so everyone walks away from a deal happy. In fact, as financial information website Investopedia describes […]

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TIGTA recommends IRS address security vulnerabilities for ACA reporting

The U.S. Treasury Inspector General of Tax Administration (TIGTA) has published a report detailing weaknesses in the IRS system for collecting tax information returns related to the Affordable Care Act (ACA). Specifically, TIGTA examined the ACA Information Returns (AIR) Release 1 Project. TIGTA generated the report to determine how well the IRS can mitigate risk […]

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Mexico eContabilidad – Dec 4, 2014 SAT updates focus on Corporations in 2015

The Mexico SAT has doubled down on their eAccounting requirements with a focus on corporations. While 2014 data is no longer required, the core requirements are now more detailed. So while the go-live date has transitioned from January 25 to March 3rd, this doesn’t mean you should delay your implementation. 

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Sales and Use Tax Changes in the Digital World

Taxability of Goods and Services Sold Online As recent election results have shown, there are few things that states can agree on and the taxability of goods and services sold online is no different. As brick and mortar stores continue to compete with online sales, state legislatures are starting to catch up with laws regarding […]

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How Prepared is Your Organization for Tax Season?

Tax season is upon us and proactive organizations are now taking the necessary steps to prepare their tax information reporting processes. Here are the top five steps organizations can take in preparation for a successful tax season: – Compliance research: In the world of tax information reporting, regulatory changes and updates are frequent and impact […]

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SAP eContabilidad – Will SAP OSS notes work for your company?

For those who are new to the Latin America reporting requirements, I think it is important to understand that the issue goes beyond SAP application updates. More importantly, it is critical to understand that no ERP vendor can provide a reporting solution for every single one of their customers. This is not just an SAP […]

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Taxware Integration with IBM Commerce Solutions

IBM Smarter Commerce with Taxware Now you can combine IBM Smarter Commerce and Taxware compliance solutions for accuracy, consistency and control over sales and use tax management.  Through an API maintained by Taxware, IBM Smarter Commerce users have full access to Taxware’s determination and reporting tools for sales, use, and Value-added tax compliance. With this […]

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Black Friday by the Numbers [Infographic]

Blurring the line between Black Friday and Cyber Monday With online and mobile shopping growing exponentially and blurring the line between Black Friday and Cyber Monday, it’s important that your sales tax determination software is able to accurately handle the expected volume wherever your customers are buying; online, in a store, or over the phone. The holiday shopping […]

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2015 Place of Supply Changes for Electronically Supplied Services in the European Union: Taxware is ready, are you?

Under the present place of supply rules, companies in the European Union (EU) selling electronically supplied services to non-business consumers (B2C) in another EU country must collect the Value Added Tax (VAT) of the country where the supplier is established. However, the “present rules” will only be the “present rules” for a few more weeks. […]

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Spend Matters – Mexico Mandates Tax Reporting Framework – January 2015 – Is Your AP Department Ready?

Spend Matters welcomes a guest post from Steve Sprague of Sovos. The Mexico electronic accounting mandates are poised to cause a fire drill that will sweep across the Fortune 2000 this month. This will worsen as we approach yearend book closing, SAP is frozen for reporting and Latin America goes on Christmas break. Required to be live […]

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E-invoicing now mandatory in Chile – What next?

Nov. 1 was a noteworthy day for much of Latin America, celebrated chiefly in Mexico but many other cultures. The rituals, celebrants take part in, trace back thousands of years, all of which pay tribute to the lives of the dearly departed. But in the Latin American business world, specifically in Chile, Nov. 1 was a […]

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TIGTA says IRS should require more businesses to e-file

The Treasury Inspector General for Tax Administration (TIGTA) has released a report saying the IRS needs to develop a plan for increasing the rate of business electronic filing. Although business e-filing rates went up during the 2014 tax season and have done so over time, as indicated by an October IRS report, TIGTA said the pace isn't […]

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Latin America – Growth Requires FCPA Risk Management

Evidenced by its growing population and hosting of the World Cup, Brazil is fast becoming a major hub for economic activity. Mexico is receiving investment to further manufacturing, and Chile and Colombia continue to outperform their growth objectives. As a result, more companies that conduct international business transactions are considering this marketplace to either set […]

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