Articles

After a somewhat slow start after enactment of the Tax Cuts and Jobs Act (TCJA) late in 2017, investment into Opportunity Zone Funds has grown from a trickle into a torrent.

In recent weeks, a bill was introduced in the House of Representatives entitled Private Foundation Excise Tax Simplification Act of 2019 (the Bill).

Although October was designated by the U.S. Department of Homeland Security as National Cybersecurity Awareness Month, that didn’t stop any of the cybercriminals last month from doing what they do best – key logging, ransoming, hacking, phishing, etc.

Plan sponsors should review the cost of living adjustments (COLAs) to determine what, if any, changes need to be communicated to employees by means of orientation meetings and enrollment forms.

It is not uncommon for family offices and individual tax clients to create best practices related to various types of tax preparation support and document retention.

“Should I stay or should I go?” sang The Clash years ago. Residents of New York, Connecticut, New Jersey, Rhode Island, California and other high tax states are now singing a similar song.

Many private foundations were established using the founder’s securities. These securities may have appreciated in value over the years.

In our continuing efforts to cover tax matters of interest to businesses with global connections, the October 2019 edition of International Tax Insights contains the following articles:

The Financial Accounting Standards Board (FASB) voted to delay the effective dates for changes to accounting for leases for most not-for-profits, private companies and small reporting companies.

The latest PKF Worldwide Tax Update provides recent tax developments from around the globe. 

A year ago this month, states began enacting remote seller sales tax nexus legislation. The legislation mirrored ‒ or at least rhymed with ‒ the test case legislation upheld in the United States Supreme Court’s South Dakota v. Wayfair decision.

he London Interbank Offered Rate (LIBOR) is one of the most commonly used benchmark interest rates for derivative and other commercial agreements; however, after 2021, financial institutions that currently report the information used to set LIBOR will no longer be required to do so.