Monthly Archives: September 2011

The Montana Department of Revenue has adopted and amended numerous corporate income tax rules, effective September 23, 2011, including: (1) a new rule designed to simplify the net operating loss (NOL) calculation for multinational taxpayers for tax periods in which … Continue reading →

On September 19, the President submitted to Congress his 80-page blueprint for jobs growth and long-term deficit reduction. The plan combines short-term, mainly payroll-tax-oriented jobs stimulus provisions, overhauls to major entitlement programs, and a tax reform package featuring tax increases … Continue reading →

IRS’s Large Business and International (LB&I) division has issued guidance on the use of Schedule UTP, Uncertain Tax Position Statement, as part of the Compliance Assurance Process (CAP). The guidance applies to CAP returns filed for the 2010 tax year … Continue reading →

[BNA Daily Tax Report, August 31, 2011, page H-2; Lowell & Martin: U.S. International Taxation: Practice and Procedure ¶ 14.07 ].

Transfer pricing regimes, complete with documentation requirements and often draconic penalties for not timely preparing or submitting the documentation in a timely manner, have spread around the world. At last count, there are 66 countries, with new regimes in Qatar … Continue reading →

“Democrats last night lost special elections in New York and Nevada, and Obama’s approval rating didn’t help; a new poll shows that 51% of Americans don’t believe his jobs plan will help lower the unemployment rate; and a congressional hearing … Continue reading →

Read the Bill Text Here http://blogs.orlandosentinel.com/news_politics/files/2011/09/American_Jobs_Act_-_final.pdf

At the forefront of today’s news, President Obama has unveiled the “American Jobs Act,” which is a proposal to stimulate the economy. The Act includes tax incentives for businesses as follows: 1) Extend 100% expensing—the opportunity to “take an immediate … Continue reading →