On April 28, 2016, TEI's State and Local Tax Committee held a liaison meeting with Connie Beard, the Director of the Illinois Department of Revenue. TEI discussed the need to standardize the timing,…
On April 26, 2016, TEI issued a policy statement on statutes of limitation for state and local taxes. TEI maintains statutes of limitation for assessments and refund claims should be equal;…
On April 13, 2016, the IRS released a revised Form W-8BEN-E, which foreign entities must provide to withholding agents of their U.S.-sourced income under the FATCA regime. The form was last updated…
** Update of March 31, 2016
LB&I has begun publishing Internal Revenue Manual updates to incorporate the issue-driven examination process outlined in Publication 5125. We encourage TEI Members…
On March 21, 2016, TEI submitted comments to the IRS regarding proposed regulations (REG-109822-15) that would require certain U.S. headquartered multinational enterprises to report financial and tax…
On March 17, 2016, TEI submitted a letter to the Canada Revenue Agency recommending certain changes to paperwork requirements surrounding Regulation 102, specifically to Form RC473. The letter…
On March 1, 2016, TEI submitted a letter to the Georgia Department of Revenue commenting on the Department's proposed amendments to Rule 560-12-1-.16, Georgia's "Direct Pay Reporting" regulation. TEI…
On February 23-24, 2016, a delegation from Tax Executives Institute met with the Commissioner of Internal Revenue, John Koskinen, and senior officials of the Internal Revenue Service and with the…
On February 16, 2016, TEI submitted comments to the Internal Revenue Service offering a definition of "minor assembly" for purposes of the domestic production activities deduction ("DPAD") of 26 U.S.…
TEI Urges FASB to Withdraw Proposed Updates Requiring Disclosure of Government Assistance Agreements
On February 10, 2016, TEI submitted a comment letter to the Financial Accounting Standards Board concerning the FASB's proposal to require public disclosure of material terms and conditions of…
On February 9, 2016, TEI submitted a letter to the Canadian Revenue Agency recommending that certain employer-provided gift cards be included in the CRA's policy of not including small employer-…
On February 2, 2016, Tax Executives Institute submitted comments with HM Revenue & Customs, the revenue authority in the United Kingdom, regarding a proposal in the UK government's Finance Bill…