TEI recommends that the FASB confirm that in applying FAS 5 to tax liabilities an enterprise need not accrue a loss for the potential disallowance of a tax position (regardless of the level of confidence that the position would be sustained if challenged) unless it is probable that the position will be challenged and disallowed by the relevant
taxing authority.
TEI files comments on uncertain tax positions: September 12, 2005
In particular, both debtors and
taxing authorities have an interest in the classification of (potential) tax claims, whether to protect their interest in those claims or to shed liabilities and maximize a fresh start.
Tax and pension claims in bankruptcy
Be on the Alert for Controversies by the Affected
Taxing Districts
Real and personal property tax incentives: the often-overlooked tax benefits
Validating internal and inventory controls, no sales invoices, and a different method of purchasing and payment provide new challenges for
taxing authorities.
Evaluated receipts settlement (ERS) and tax compliance
The report also reflects a likely
taxing jurisdiction (or jurisdictions) based on the delivery Zip Code, and provides a maximum possible tax rate for jurisdictions in that Zip Code which may be utilized to assess the accuracy of the tax rate charged by the vendor.(21)
Procurement cards and tax compliance: bridging the gap: a report of the Steering Committee Task Force on EDI Audit and Legal Issues for Tax Administration
In an electronic audit situation, the
taxing authority may need to interact with representative(s) from other departments including internal audit, data processing, management information systems and records management, as coordinated through the primary taxpayer representative.
Auditing electronic data: a report of the Steering Committee Task Force on EDI Audit and Legal Issues for Tax Administration
But such a system will not achieve the objective of avoiding double taxation of income unless every
taxing jurisdiction agrees on the identical formulary approach.
The fast changing world of corporate taxation
It provides for a moratorium on certain taxes, thus allowing states to study the issues and determine a consistent method of
taxing electronic commerce and avoiding multiple taxation on a single transaction.
The Internet Tax Freedom Act and sales tax
This article complements Paul McDaniel's piece in the November-December 1995 issue, which highlighted the issues involved in
taxing consumption only.
The national sales tax: avoiding the zero-sum scenario
86-272 prohibits a state from
taxing a business whose only connection with the state is the solicitation of orders for sales of tangible personal property sent out of the state for approval or rejection, and, if approved, filled and shipped by the business from a point outside the state.
Current corporate income tax developments
It is not about
taxing something -- consumption -- that we do not tax currently.
Taxing consumption only: identifying the issues
Additionally, California, Delaware, New Hampshire, North Carolina, Rhode Island and Tennessee allow installment plans negotiated between the estate and the state
taxing authority.
State estate and gift tax provisions
The tax, which operates as a tax on the gross receipts of most businesses without regard to their profitability, reaches backward in the Commonwealth's history to well before the turn of the century, and at that time the measure may well have been an appropriate means of
taxing and regulating businesses.
Proposed repeal of Virginia's gross receipts tax
The IRS is also stricter than most
taxing authorities in auditing transfer pricing, imposing substantial documentation requirements and harsh penalties under Sec.
Entering foreign markets - one step at a time
Aggressive, revenue thirsty state and city
taxing authorities have become regular visitors at our places of employment with time-consuming audits, lengthy nexus questionnaires, and continuing attempts to squeeze every tax dollar possible cut of Corporate America.
Outsourcing the tax function: a survey