Lines are being drawn and sides are being taken as Congress attempts to overhaul the corporate tax code. Corporate giants such as General Electric Co. and Microsoft Corp. are battling it out in hopes of influencing the debate. This decision will impact international companies significantly due to the drastic changes […]
Author: Lawrence Brown
In our last post, we talked about the impact taxes can have on a family business. In most cases, family members want the best for each other; and that can be difficult in a business setting. But the one thing no one wants for their business (may family be involved […]
The relationship between a father and a son is undeniably a crucial one. After all, for many boys, their father is their first role model. For the lucky ones, he is their first hero. To be sure, many boys grow up without a father. Others have abusive fathers. Yet even […]
The world map has never looked so odd. A service called OpenCorporates has launched a website that shows America’s top six banks and their exceedingly intricate and complex organization structure to highlight the lengths to which some corporations go to minimize their tax liabilities. The website is designed to show […]
The Foreign Account Tax Compliance Act (FATCA) compliance requirement for foreign banks dealing with the US has been delayed until July 1, 2014 so that these banks can continue to implement the changes and agreements necessary to avoid penalties. FATCA was enacted in 2010 to require that foreign banks report […]
Last week we wrote about the many responsibilities that federal and state tax codes place on business owners. From payroll taxes to estimated taxes to the intricacies of the Affordable Care Act, there are a host of ways that tax issues impact businesses and their owners. Sometimes, of course, business […]
In yet another story that seems like something straight out of a James Bond movie, a Vatican accountant, a former Italian spy, and a financial broker have been arrested and charged with tax evasion and possibly money laundering. A complex scheme involved the former Italian spy moving over $26 million […]
In what was one of the two most anticipated cases in the Supreme Court’s docket this year (and arguably in many years), the Supreme Court ruled in United States v. Windsor that the federal Defense of Marriage Act (DOMA) was unconstitutional as it violated the Constitution’s Equal Protection and Due […]
Sprint, the third largest wireless carrier in the country, has been charged with tax fraud for willfully failing to pay a portion of sales taxes owed, according to the complaint filed by the state of New York. Sprint tried to have the case dismissed, but the judge refused the dismissal […]
In our first post about the impacts of the recent Supreme Court decision, United States v. Windsor, in which the federal Defense of Marriage Act (DOMA) was partially struck as unconstitutional, we discussed the fact that many surviving same-sex spouses may qualify for tax refunds for payments made on their […]