Accounting
Uber, Taxes, and the Question of Who’s an Employee in the Gig Economy
Uber and Lyft are threating to shut down operations in California because the state considers their drivers employees rather than independent contractors. The distinction might…
Read MoreCFC Rules in Europe
Many businesses around the world operate in more than one country, making them subject to multiple tax jurisdictions. To prevent businesses from minimizing their tax liability by taking advantage of cross-country differences in taxation, countries have implemented various anti-tax avoidance measures, one known as Controlled Foreign Corporation (CFC) rules. CFC rules apply to certain income…
Read MoreNew Research on the Impact of Energy Taxes and the EU’s Cap-and-Trade System
New research on the impact of energy taxes and the EU’s cap-and-trade system has been released. Both articles were published by the American Economic Journal in 2020. In “Energy Cost Pass-Through in US Manufacturing: Estimates and Implications for Carbon Taxes,” the authors study the welfare effects of changes in energy input costs—such as energy tax…
Read MoreBiden’s Tax Hikes May Be A Tough Sell In 2021. What If He Paired Them With Big Refundable Tax Credits?
Democratic presidential nominee Joe Biden would raise taxes by about $4 trillion over the next decade, nearly all on businesses and high-income households. While Biden…
Read MoreWhere Do People Pay the Most in Property Taxes?
Property taxes are an important tool to help finance state and local governments. In fiscal year 2017, property taxes comprised 31.9 percent of total state and local tax collections in the United States, more than any other source of tax revenue. In that same year, property taxes accounted for a whopping 72 percent of local…
Read MoreNew Accelerated Depreciation Policies to Spur Investment in Australia, Austria, Germany, and New Zealand
Countries around the world are experiencing a sharp downturn in economic activity as an impact of the COVID-19 health crisis. To cushion the immediate liquidity effects of containment and mitigation policies, governments responded rapidly with emergency tax and fiscal policy measures. As these short-term measures are starting to expire, policymakers are increasingly looking at mid-…
Read MoreIRS reopens registration for $500 stimulus payment claims for children
The Internal Revenue Service is reopening the registration period for parents to list their kids so they can receive an extra $500 per child in economic impact payments under the CARES Act. Original Article Posted at : https://www.accountingtoday.com/news/irs-reopens-registration-for-500-stimulus-payment-claims-for-children
Read MoreValuation considerations relating to NOL limits under CARES Act and TCJA
The limitation on net operating losses under the 2017 tax reform were mostly reversed in the stimulus package in March, but there are some complexities to keep in mind. Original Article Posted at : https://www.accountingtoday.com/opinion/valuation-considerations-relating-to-nol-limits-under-cares-act-and-tcja
Read MoreHertz’s ex-CEO will repay $2M over misstatements in 2013
Mark Frissora will return nearly $2 million in incentive-based compensation to settle a U.S. regulator’s claims that he played a key role in causing the now-bankrupt car-rental company to file inaccurate financial statements in 2013. Original Article Posted at : https://www.accountingtoday.com/articles/hertzs-ex-ceo-will-repay-2m-over-misstatements-in-2013
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