Features

2017 Annual Report

Institute Officers Audited Consolidating Financial Statements Tax executives Institute, Inc. and TEI Education Fund June 30, 2017 Independent Auditor’s Report To the Board of Directors Tax Executives Institute, Inc. and TEI Education Fund We have audited the accompanying consolidating financial statements of Tax Executives Institute, Inc. and TEI Education Fund… Read more »

VIEW MORE


Addressing New Federal Partnership Audit Rules and Reporting of Federal Adjustments to States
Bipartisan Budget Act of 2015 provides opportunity for greater uniformity

In recent years Tax Executives Institute, Inc. (TEI), has met with various state organizations and revenue departments to encourage standardizing the rules for reporting federal audit adjustments. These efforts have been fruitful but have even greater potential for success with the passage of the Bipartisan Budget Act of 2015 (BBA),… Read more »

VIEW MORE


Congress Pivots From Health Care to Tax Reform
Ultimate outcome on taxes in 2017 still up in the air

Benjamin Franklin is frequently credited with saying that there’s nothing certain in life except death and taxes. I would suggest an addendum to this adage for 2017: another certainty is the steady drumbeat of news stories claiming that tax reform is imperative and imminent. Years of hearings, commissions, white papers,… Read more »

VIEW MORE


Section 199 and Cloud Software: Clearing the Fog
Are you up-to-date on current Treasury regs?

The domestic production activity deduction under Section 199 of the Internal Revenue Code of 1986, as amended (hereinafter “Section 199”), provides a deduction equal to nine percent of the lesser of taxable income or income attributable to certain qualified production activities. For the 2016 fiscal year, this deduction was estimated… Read more »

VIEW MORE


Practical Questions for Multinationals in an MLI World
MLI moves to implementation with open issues and challenges

Now that the multilateral instrument (MLI)1 coordinated by the Organisation for Economic Cooperation and Development (OECD) has been signed by over seventy jurisdictions,2 the new international tax agreement has moved to the implementation phase, with open issues and challenges ahead. The practical outgrowth of the OECD’s project to address base… Read more »

VIEW MORE


Introducing VAT in the Gulf States
Development affects not only domestic supplies of goods and services but also purchases made from unestablished suppliers

The Gulf Cooperation Council (GCC), which comprises the United Arab Emirates, Bahrain, Saudi Arabia, Oman, Qatar, and Kuwait, has decided that its member countries will implement a value-added tax (VAT) system by 2018. This decision was adopted in the context of a dramatic drop in recent years in the oil… Read more »

VIEW MORE


Best Practices in Tax Compliance Outsourcing
Start the journey with a well-designed RFP

Tax compliance isn’t for the faint of heart these days. Proper execution can directly affect cash flow, the defensibility of tax return positions, risk management, and ultimately the public’s perception of your company as a responsible taxpayer. In the face of these concerns, as well as ever-changing tax laws and… Read more »

VIEW MORE


Bots, Natural Language Processing, and Machine Learning
Yes, these will impact your tax practice, but when and how much are still unclear

Tax professionals in all industries run into a common problem: the constant confrontation with rapidly changing technology that is camouflaged by overly complicated terminology, with few people explaining things in language that laypeople can understand. Such is the problem when you start a conversation on, say, robotic process automation or… Read more »

VIEW MORE


The Internet, ‘Fake News,’ and Tax Research
Yes, they really do affect your bottom line

Before the days of the internet, tax research was conducted by tax professionals with access to information not readily available to the general public and followed high editorial standards. Corporate tax executives might have challenged the conclusions of the research, but they did not have to think twice about the… Read more »

VIEW MORE


How Adobe Streamlined Tax to Scale Its Business
Dramatic shift in online purchasing has ripple effect

Some of the statistics about consumption in the United States are truly jarring. There are more than three shopping centers for every high school, according to industry data and the Department of Education. For each person, forty-eight square feet of retail capacity exists, CNBC reported earlier this year. The average… Read more »

VIEW MORE