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New York State is on a hunt for increasing personal income taxes on nonresidents. Its method: expanding the definition of a nonresident individual’s source income. Nonresidents, of course, are the easiest of targets. They don’t vote in the state.

Recently, the American Institute of Certified Public Accountants (AICPA) formally requested the Internal Revenue Service (IRS) to consider making suggested changes to the 2018 Form 990, Return of Organization Exempt from Income Tax, that conform with new financial statement reporting changes required under the Financial Accounting Standards Board’s (FASB) Accounting Standards Update (ASU) 2016-14, Presentation of Financial Statements of Not-for-Profit Entities.

Buyers of businesses are often eager to get the deal done. But tax due diligence may be worth the wait. There can be a significant impact on the market value of a target company. State and Local Tax (SALT) issues, in particular, can sometimes be deal breakers.

Before we get to this month’s cyber events — which many of you may consider to be “jaw-dropping” in their intensity and reach — let’s be reminded of the FBI’s list of steps that should be taken to help protect your computer from intrusion.

Bringing together professionals from tax jurisdictions around the world, PKF International Limited has codified recent tax changes by country for those individual and business clients with multi-national connections.