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Koskinen warns of delayed tax season citing ACA provisions

IRS Commissioner John Koskinen has once again stated the 2015 tax filing season could be delayed. This time he cited certain provisions of the Affordable Care Act (ACA) as the cause in addition to Congress' continued inactivity regarding tax extenders, according to AccountingWeb. The commissioner made his statement at the 2014 Fall Meeting of the Council […]

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Taxation of Beverage Syrups: A Sticky Situation

Authors: Katherine Audet and Edward Duhamel It is well known that in many states, food products bought for home consumption are either exempt from sales tax or are subject to a reduced rate of sales tax. But did you know that certain beverages, such as soft drinks, are not considered “food” by all states? Soft […]

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New regulations are coming in 2015: Is your company ready?

As you may know, Brazil recently held its presidential election, with Dilma Rousseff winning another term in office after edging out a victory over challenger Aecio Neves. With 99 percent of precincts reporting, Rous seff got a plurality of the vote at 51.5 percent to her challenger’s 48.4 percent.

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Colombia’s economy vibrant – einvoicing mandates around the corner

Look no further than Colombia as the latest sign that Latin America’s economy is growing.

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IRPAC publishes 2014 Public Report

The IRS Information Reporting Program Advisory Committee (IRPAC) recently published its 2014 Public Report. In it, the committee detailed various recommendations it has for the IRS to improve tax information reporting. IRPAC was created in 1991. It serves as a public forum for discussing reporting issues, and each year, the committee submits a report to […]

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CFOs rank state tax environments in recent study

A recent report by CFO, the 2014 CFO State Tax Survey, examined how 78 tax directors responded to state tax compliance changes implemented in 2013. These directors were asked to rank states based on various tax-related issues. The report noted certain states are increasing their tax collection efforts for out-of-state corporations. "One way of doing so […]

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Koskinen warns 2015 filing season could be delayed due to stalled Congress

IRS Commissioner John Koskinen recently wrote a letter to U.S. Senate Finance Committee Chairman Ron Wyden detailing his concerns that the 2015 tax filing season will be delayed if Congress doesn't take action on extenders. These are tax provisions that expired at the end of 2013, and the commissioner said Congress needs to decide whether to extend […]

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Sales and Use Tax Nexus – A Continually Moving Target

Sales and Use Tax Nexus – A Continually Moving Target One of the most interesting (some would say frightening) developments in the sales tax world over the last several years has been the concerted efforts by several states to expand the scope of activities that would compel an organization to collect and remit tax their […]

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Why the e-invoicing mandate is good for businesses in Latin America

When it comes to having a favorable business environment, few would associate more regulations as being the answer. Increasingly complicated compliance issues often create more red tape, which makes it that much harder to accomplish things in the most cost efficient way possible.

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New Release: Taxware Oracle R12 Adapter v8.4.0

Taxware Product Management is very pleased to announce the release of the Oracle R12 Adapter v8.4.0! This release, relevant for Oracle E-Business Suite R 12 users, will not only provide Oracle EBS integration for Taxware clients, but also offer the functionality and recommended best practices for optimal performance.  This adapter is a part of Taxware’s larger initiative to provide […]

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Mexico eAccounting – Audits take in 79 Billion Pesos, what’s your exposure?

It’s been a year of heightened regulatory scrutiny for Latin American business owners, as laws are now on the books that require entrepreneurs to establish an electronic invoicing system in many countries. Thus far, it’s turning out to be a program that’s paying off for governments, most notably in Mexico.

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Puerto Rico Revises Forms for Sales and Use Tax on Imports

Puerto Rico Revises the Title of the Forms to Report and Declare the Sales and Use Tax on Imports Yesterday, October 8, 2014, the Treasury Department of Puerto Rico (the Hacienda) issued Tax Policy Informative Bulletin 14-02, wherein the Hacienda provided that in order to avoid confusion among merchants and importers at the time they […]

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Cloud Computing: Part 4 – Cloudy With a Chance of Sales Tax

Cloud Computing: Part 4 – Cloudy With a Chance of Sales Tax – An Overview of State Tax Schemes Being Applied to Cloud Based Transactions This is the fourth and final part of our blog series addressing issues related to the taxation of cloud based transactions. Previously, we addressed what the cloud is, why businesses should concern […]

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What Do Tax Managers Do?

What Do Tax Managers Really Do? According to wisegeek, Tax managers prepare the required government documents concerning taxes, ensure the accuracy of these documents, and offer solutions to pressing tax problems. Tax managers must be familiar with international, domestic, state, and local tax laws.   That got us thinking about what Tax Managers really do.  So […]

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Taxware Achieves Oracle Integration Certification with EBS Financials 12.2

Taxware Enterprise (TWE) 8.4 Has Achieved Oracle Validated Integration with Oracle E-Business Suite Financials 12.2! Oracle E-Business Suite 12.2 users will now have full access to Taxware’s determination and reporting tools to help streamline sales and use tax compliance. Through this integration, Oracle E-Business Suite 12.2 users have full access to Taxware’s determination and reporting […]

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New survey highlights importance of prioritizing information security

A recent survey sponsored by document management firm RR Donnelly and published by CFO Research found information security often takes a backseat compared to productivity. In regard to tax reporting, the implications of the survey have serious ramifications, as security breaches could lead to the loss of tax identification numbers (TINs) and other sensitive data. The researchers […]

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The Basics of VAT Determination

Value-Added Taxes Are Complex Value-Added Tax (VAT) is tax that is levied at every stage of the supply chain, on both goods and services. Every major economy except the United States (US) levies a form of VAT and each does so with its own set of rules for compliance and reporting. Apart from compliance, processing, […]

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New Sales Tax Filing Alternative in Puerto Rico

Recently, Puerto Rico made some important changes to their filing processes that affect all businesses selling goods and services into that territory.  The changes are happening so rapidly that we set up an online Puerto Rico Sales Tax Changes Resource Center with news updates, FAQs and white papers to help businesses to better understand the latest rules […]

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