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Tax News & Views
21 minutes | 5 days ago
Transfer pricing considerations in light of COVID-19
The business impacts of COVID-19 are far reaching and include transfer pricing considerations for multinational companies that should be actively managed and monitored. Companies and their transfer pricing specialists are dealing with a complex landscape that includes the potential effects of the pandemic on business strategies and resulting transfer pricing implications, changing market behaviors and the impacts on intercompany contracts and arrangements, adopting a different transfer pricing policy than what is contained in current agreements, and much more.
12 minutes | 18 days ago
Election update: Tax implications of a Joe Biden presidency
Most major news organizations have declared that former Vice President Joe Biden will emerge with at least 270 electoral votes and will become our next president. With that in mind, it’s time for taxpayers to begin to consider the potential tax impacts of Joe Biden’s tax agenda.
12 minutes | 19 days ago
Looking at digital assets through a tax lens
There’s a rapid proliferation of digital assets across geographies and industries, from tokens, to stablecoins, to digital representations and derivatives of each. But with little tax guidance available for businesses, asking “What’s the thing?” is critical to understanding how specific details inform the asset’s character, basis tracking, application of indirect tax, revenue and expense recognition, and sourcing.
14 minutes | a month ago
ASC 740 in a COVID-19 world
There are plenty of challenges when it comes to accounting for income taxes, from forecasting to non-routine transactions, to deferred taxes, to analyzing new legislation and guidance, all of which can create complexity. With the COVID-19 pandemic and the impact on economic conditions, it’s crucial that companies face ASC 740 challenges head-on while looking for opportunities to add value.
16 minutes | a month ago
The value of diversity and inclusion in tax departments
There’s a growing recognition of how critical diversity and inclusion is to business performance. The challenge lies in translating the value of diversity and inclusion into impactful actions that your tax department can take.
15 minutes | 2 months ago
State tax issues and potential opportunities
Today’s environment is quickly changing the way businesses function as they navigate through new business and tax needs, and this is especially true at the state tax level. Whether it’s cash generation strategies, tax implications of remote workforces, sales and use tax refunds, real and personal property values, or tax department operations, multistate tax has unique opportunities to add value to organizations.
12 minutes | 2 months ago
M&A in a COVID world
In the midst of a rapidly changing US market, many companies are assessing how to monetize losses, considering raising or restructuring debt, or planning for a divestiture or acquisition of under performing assets. That’s why it’s more important than ever for organizations to have timely tax planning to capture value and manage risks.
18 minutes | 3 months ago
2020 election – potential tax implications
With the US Presidential election less than two months away, now is the time for tax executives to understand the candidates’ tax plans and policies to ensure they are ready no matter the election results.
18 minutes | 3 months ago
Tax: Strategies for reducing costs and adding value
In an increasingly complex environment, tax departments are under pressure to reduce operating costs and generate cash. Deloitte Tax’s Rochelle Kleczynski and Emily VanVleet highlight some of the tax-planning opportunities, operating model changes, and ways to create value by aligning with overall initiatives of the business.
12 minutes | 4 months ago
Senate Republicans release Phase 4 COVID-19 proposal
Deloitte’s Jon Traub takes a look at the Senate Republicans' recently released Phase 4 COVID relief legislation. He also discusses what House Democrats will be looking for during negotiations, and the chances of the parties going with a short-term package instead.
9 minutes | 4 months ago
A preview of potential phase four COVID relief legislation
As companies look to recover in the era of COVID-19, it’s important to understand what additional tax legislation might be coming as part of a phase four relief bill. In this episode, Jon Traub discusses what Senate Republicans, House Democrats, and the White House are looking for in the bill, as well as the process to get to a final relief package that all groups can agree on.
11 minutes | 5 months ago
The latest COVID-19 legislative news
As businesses look to recover, it’s critical to understand what’s happening in Washington, D.C. From the CARES Act to clarifications and changes to already passed regulations to a potential phase 4 bill on the horizon, understanding the legislative landscape remains crucial for tax departments. In this latest episode, Jon Traub provides updates on legislation passed to date, as well as what might be coming next as Congress and the White House consider a phase 4 bill.
10 minutes | 6 months ago
Operations transformation for tax
Even before the COVID-19 pandemic, tax leaders were already facing numerous pressures, including budget and resource constraints, while figuring out how to invest in technology. The current climate hasn’t made it any easier. In this latest episode, Deloitte Tax partner Terri LaRae offers key business insights on how tax leaders can tackle these challenges efficiently and transform their operations with a phased approach.
16 minutes | 6 months ago
With the recently enacted CARES Act allowing taxpayers to tap into cash refunds all the way back to 2013, companies are seeing a lot of opportunities to monetize losses. While that sounds simple, the decision-making and planning process surrounding it is a bit more complex. In this episode, Deloitte’s Steve Harrison and Ken Gerstel explain the nuances of the revised net operating loss (NOL) rules and how executives should be thinking about this tax relief benefit.
14 minutes | 6 months ago
Given the current economic climate, many companies have been in a rush for cash, leading to an upward increase in credit borrowing and corporate debt. In this latest episode, Deloitte’s Steve Harrison and Ken Gerstel explain the significance of debt modifications and their implications on corporate debt restructuring.
9 minutes | 6 months ago
Potential benefits of structural planning—A state perspective
What is structural planning? How can it benefit a company in today’s environment? In our latest episode, Sarah Murray discusses the importance of aligning business operations during the current environment and how, when done correctly and with the right technology, it may help alleviate some real pain points for businesses.
10 minutes | 6 months ago
Proposed House COVID-19 legislation
Jonathan Traub discusses the key tax features found in the House coronavirus relief package, including a proposed change to the net operating loss carryback provision in the CARES Act. He also discusses the Senate’s perspective on the bill, some of the important areas of controversy, and what might happen next on the COVID-19 legislative front.
7 minutes | 7 months ago
COVID-19 legislative update
With the CARES Act already in full effect, eyes on Capitol Hill are starting to shift towards preparations for the next phase of the COVID-19 stimulus relief. In this latest episode, Jonathan Traub from Deloitte Tax sheds some light on how our Congressional leaders are measuring the impact of the CARES Act and their plans for additional legislation, which may include more aid to businesses, local and state governments.
13 minutes | 7 months ago
Know your NOLs: Considerations for state taxpayers
How does the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) affect net operating losses (NOL) at a state level? When it comes to the five-year NOL carryback provision in the CARES Act, it’s important to understand the differences between, and limitations of, state and federal NOLs. Brian Sullivan, managing director at Deloitte Tax, lays out considerations for NOLs in states where future income is expected, procedures to document and support NOLs, and key differences between conforming at the state level and conforming with the amendments to IRC 163(j) from the CARES Act.
11 minutes | 7 months ago
Federal and international cash generation strategies
Businesses are looking to either save or generate cash as a response to COVID-19. Taxpayers are looking to NOL carrybacks, filing for quick refunds, 2019 and 2020 accounting methods planning, and federal and international tax planning considerations as potential cash generation options. On our latest tax podcast, Joe Carino of Deloitte Tax explains to listeners what some of the different strategies could mean for tax departments in their recovery planning.
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