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 The responses from Canada Revenue Agency from the 2011 liaison meetings with the Canada Revenue Agency (CRA) and the Department of Finance are now available. To improve case load management by the Tax Court of Canada, TEI recommends that Canada Revenue Agency be accorded the ability to settle appeals or litigation of assessments and reassessments based on the "hazards or risks" of litigation. On December 6-7, TEI President David Penney and David Daubaras, the Institute's Vice President for Canadian Affairs, will lead a delegation of members in the 2011 liaison meetings with the Canada Revenue Agency (CRA) and the Department of Finance. TEI submitted a letter to the British Columbia Ministry of Finance recommending improvements to make the PST more efficient and administrable. The Institute submitted comments and recommendations to the Department of Finance in respect of its August 19, 2011, draft Foreign Affiliate legislation.  The Institute submitted a letter urging the state to pass legislation excluding from an employee's taxable income employer-provided health insurance benefits for adult children under the age of 27.  The Financial Accounting Foundation is conducting its first ever post-implementation review of FASB Guidance. Read the Institute’s comments on FIN 48.
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As a follow up to TEI's November 15 letter to the British Columbia Ministry of Finance, three members of the Canadian Commodity Tax Committee met with Ministry officials on December 12 to further discuss the Institute's proposals.  TEI's 2011-2012 Nominating Committee met in San Francisco during TEI's Annual Conference. Its report is now available. As part of its Vision 20/20 strategic planning initiative, TEI is gathering input from members, former members, potential members, and other individuals who are interested in contributing.  TEI President David M. Penney spoke before the Standing Committee on Finance on Thursday, Sept. 29. Please view the full video of the session. David M. Penney, General Director – Taxes for General Motors of Canada Limited in Oshawa, Ontario, Canada, has been elected the President of Tax Executives Institute (TEI), effective August 9. On May 26, TEI Regional Vice Presidents Randy Harvey and Mitch Salamon led a delegation of TEI members from Regions V and VI to a regional IRS liaison meeting in Chicago. The meeting notes were prepared by Janice Lucchesi of TEI’s Chicago Chapter. TEI's Midyear Conference concluded April 6 in Washington, D.C., with more than 500 members of the tax community attending the four-day event.
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(from BNA)
Tax executives are unsure of the impact the new “repair” regulations might have on their businesses, but many expect the new rules to be more difficult to administer or comply with in practice, according to a survey released by KPMG LLP
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In connection with the State of the Union Message, the Obama Administration released a "blueprint" for "An America Built to Last" that outlined, in broad form, the President's tax proposals. The Administration's proposals - and
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Thursday, February 9Noon- 1:30 pm ET
On December 23, 2011, the IRS and Treasury released the tangible asset regulations in temporary and proposed format. On February 9, Crowe Horwath will hold a 90-minute, no-fee webinar on the new tax regula
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Tuesday, January 24, 2012 | 11:00 a.m.–12:00 p.m. ET
On January 20, India’s top court ruled that the Indian tax authorities have no jurisdiction over Vodafone Group Plc.’s 2007 purchase of the Indian mobile telephony assets of Hong Kong-based Hutch
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(from Ernst & Young)
LONDON, 17 January 2012 – Ernst & Young is delighted to announce that Mark Weinberger has today been named its next Global Chairman and CEO. Weinberger will succeed current Global Chairman and CEO Jim Turley, who announ
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The responses from Canada Revenue Agency from the 2011 liaison meetings with the Canada Revenue Agency (CRA) and the Department of Finance are available here. TEI President David Penney and David Daubaras, the Institute's Vice President for Canadian
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(from IRS)
National Taxpayer Advocate Nina E. Olson today released her annual report to Congress, identifying the combination of the IRS’s expanding workload and declining resources as the most serious problem facing taxpayers. The result, the rep
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Roger Wheeler of KPMG, a recipient of TEI's President's Award, writes a regular column for International Taxation. Click below to access his January offering.
Roger Wheeler - IT V6P1 January2012 Final.pdf
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International Tax Policy Forum Conference
Taxation of Innovation in a Global Economy
American Enterprise Institute
Friday, January 20, 2011, 8:45 a.m. –12:30 p.m.
Wohlstetter Conference Center, Twelfth Floor, AEI
1150 Seventeenth Street, N.W
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On January 5, the ABA Section of Taxation filed comments with the Internal Revenue and U.S. Department of the Treasury on the Advanced Pricing Agreement program and the Mutual Assistance Program.
To access the comments, click on the link below:
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Registration for TEI’s Audits and Appeals Seminar is now open.
For three decades, TEI has provided in-house tax professionals with the information and insights necessary to cope with the challenges of handling IRS audits and, beginning two years
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In late November TEI launched a comprehensive survey of Corporate Tax Departments to gather valuable benchmarking information for TEI members and other interested parties. TEI’s last survey, done in 2005, remains a popular resource among TEI member
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The Congressional Research Service has released Corporare Tax Reform: Issues for Congress (RL34229), by Jane G. Gravelle (Senior Specialist in Economic Policy):
Interest in corporate tax reform that lowers the rate and broadens the base has develop
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From the California State Board of Equalization:
The California State Board of Equalization (BOE) is seeking an experienced, established leader with a breadth of administrative and organizational management expertise and tax policy experience to b
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(from Tax Prof Blog)
Today marks the demise of 53 tax breaks commonly referred to as the "extenders" because Congress eventually votes to extend them for another year. They include several popular provisions, such as the AMT patch (which
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Thomson Reuters yesterday announced the release of ONESOURCE Property Tax version 9.5, a Web-based solution and a part of the ONESOURCE platform. The latest version of ONESOURCE Property Tax now supports Microsoft SQL Server to rapidly develop and r
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Corporate taxpayers in the District of Columbia have been required to file on a mandatory combined basis since January 1, 2011. But there has been scant guidance about how combined filing in the District would work. The DC Office of Tax and Revenu
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The most recent edition of the firm's state and local tax newsletter includes articles on individual liability for company taxes, potential unity and busines income in California, and managing withholding for a mobile workforce. To view the newslet
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NEW YORK, MONTREAL January 12, 2012 – The Tax & Accounting business of Thomson Reuters has acquired Dr Tax, Canada’s largest independently owned developer of income tax software for accounting firms and consumers.
“Thomson Reuters has deep ro
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For years, taxpayers in Tennessee have had to disclose their intangible-related expenses paid to related parties to the Department of Revenue. There was, however, no specific addback of those expenses (other than the general powers accorded the dep
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It's never as simple as it seems. Companies set up separate legal entities for valid business reasons and inadvertently create tax headaches. A recent ruling released by the Virginia Department of Taxation provides another good example of things t
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Yesterday, the Financial Accounting Foundation published the results of its post-implementation review of FIN 48. The FAF oversees the FAS, and udertook this review to evaluate the effectiveness of FIN 48 since its introduction in 2006. TEI partic
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Regular readers of this column may recall that my father was the editor of daily newspapers in the midwest. One of his favorite writers was Mark Twain, especially after our family moved in the mid-1960s from the Kansas prairie to the banks of the Mi
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In my last column, I outlined the boundaries of TEI’s Vision 20/20 Task Force, which was chartered by the Institute’s Board of Directors to define the “ideal TEI” for today and the year 2020 and to develop a strategic plan that allows the Institute
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Dave Penney’s inaugural column as TEI president begins with his paying homage to the “selfless enterprise” that the Institute’s founders exhibited in 1944 when they gathered in New York City to discuss whether to organize what we now know as Tax Exe
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There are likely few members of TEI today who exhibited bravery when joining the Institute. When today’s leaders (at the chapter or Institute level) raise their hand and saying, “Yes, I’ll step forward,” they do this knowing they will benefit immen
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In his column in this issue, Paul O’Connor emphasizes that, while TEI rightly prides itself on its conferences, seminars, and courses, the bulk of the Institute’s educational activities occur at the local level. The numbers are impressive: Including
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A year ago, when I became TEI’s President, few TEI members likely envisioned the buffeting that the economy would endure or the changes to be wrought to the political landscape. I know I didn’t. August 2010 seems such long time ago. Before the 2010
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The remarkable depth and breadth of Tax Executives Institute are, once again, confirmed by the Table of Contents of this issue of The Tax Executive. The reports on the Institute’s educational programs, the summary of chapter meetings around the word
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