BDO News

This is a feed of the latest BDO USA Tax Publications.

Tax Relief for Alaska Earthquake Victims

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Summary

Tax relief may be available for Alaska earthquake victims who reside or have a business in the Municipality of Anchorage, Kenai Peninsula Borough and Matanuska-Susitna Borough. Individuals may be able to deduct personal property losses that are not covered by insurance or other reimbursements. Additionally, certain business and ... read more

Much Ado about Tariffs: Preparing for March 1 and Beyond

By Damon Pike

Sparked by President Trump’s imposition of additional tariffs on imports of steel and aluminum and many products of Chinese origin, U.S. trade policy dominated news headlines for most of 2018. The tariff announcements caught many companies off guard; prior to the proclamation, many believed that the President’s tariff threats ... read more

IRS to Keep Ruling on Section 355 Transactions After Pilot Program Ends

Summary

The 18-month pilot program created by Rev. Proc. 2017-52, whereby the Internal Revenue Service (IRS) resumed ruling on the general tax consequences of tax-free spinoffs under Section 355, is scheduled to end on March 21, 2019. The pilot program has been significant for taxpayers seeking greater certainty on the tax ... read more

The TP Range – February 2019

A Note from BDO’s Transfer Pricing Practice   The TP Range covers important changes around the world in today’s transfer pricing climate. The name TP Range is a nod to the U.S. and OECD transfer pricing guidelines, which call for a taxpayer’s transfer prices to fall within an arm’s-length range of results ... read more

Chief Counsel Advice Affirms Taxpayer’s Ability to Correct Impermissible Income Recognition Method via Automatic Change Procedures

Summary

Effective for tax years beginning on or after December 31, 2017, accrual method taxpayers with applicable financial statements (AFS) may not recognize income for tax purposes later than the tax year in which that income is taken into account as revenue in the taxpayer’s AFS. Under Section 451(b) of the ... read more

Chief Counsel Advice Affirms Taxpayer’s Ability to Correct Impermissible Income Recognition Method via Automatic Change Procedures

Summary

Effective for tax years beginning on or after December 31, 2017, accrual method taxpayers with applicable financial statements (AFS) may not recognize income for tax purposes later than the tax year in which that income is taken into account as revenue in the taxpayer’s AFS. Under Section 451(b) of the ... read more

The TP Range – February 2019

A Note from BDO’s Transfer Pricing Practice

This issue of The TP Range covers important changes around the world in today’s transfer pricing climate.   Digital taxation continues to be a pressing issue, with the U.S. proposing a tax on marketing activities of multinationals that sell digital advertising. Meanwhile, new transfer pricing rules ... read more

The Indian Tiffin – February 2019

A monthly publication from BDO India, “The Indian Tiffin” brings together business information, facilitating decision-making from a multi-dimensional perspective. The unique name of this thought leadership piece is inspired most literally by Indian tiffins, referring to home cooked lunches delivered to the working population by ‘dabbawalas’ – people who deliver ... read more

Impact of Sequestration on Corporate AMT Credit Refunds

On January 14, 2019, the IRS updated its announcement (the “IRS Announcement”), Effect of Sequestration on the Alternative Minimum Tax Credit for Corporations to clarify that refundable alternative minimum tax (AMT) credits under Section 53(e) are not subject to sequestration for taxable years beginning after December 31, 2017.

AMT Credits and ... read more

Tax Transformation Guide

The role of the tax function is changing. An area of business once considered a cost center is transforming into a driver of both strategy and value—with good reason.