KPMG Tax professionals share their knowledge about and contribute to the discussion of important tax topics by publishing in industry journals. Reprints of their articles are cataloged here.
Featured article
May 01, 2023 | In this edition of Tax Notes Federal, the authors examine the definition of tax home for federal income tax purposes and explores the tax consequences that may arise from employees being “away from home” for business travel. | Tax Notes Federal
April 2023 | In this article, the authors discuss enforcement-related proposals in U.S. Treasury’s latest Green Book, and how they would change the tax compliance and enforcement landscape for large businesses. | International Tax Review
Other recent articles
May 5, 2023 │In this article, the authors address planning considerations for employers and issues raised by the new stock buyback excise tax. │Bloomberg Tax Management Compensation Planning Journal
April 24, 2023 | In this article, the authors review the OECD’s efforts to improve tax certainty, with a particular focus on the role of mutual agreement procedures. | Tax Notes International
April 10, 2023 | In this article, the first installment in a three-part series on tax and environmental, social, and corporate governance, the authors focus on the role of transfer pricing in responsible tax practices and suggest what multinational corporations should be doing to improve transparency in transfer pricing. | Tax Notes International
March 13, 2023 | In this article, the authors compare the U.S. cost-sharing arrangement rules and OECD cost contribution arrangement guidance, and they discuss the circumstances under which those can be considered equivalent. | Tax Notes International
March 6, 2023 | The authors of this article examine the creditability criteria of the new U.S. foreign tax credit final regulations and the impact on tax return filings by individual taxpayers. |Tax Notes Federal
March 6, 2023 | In this article, the authors consider the transfer pricing implications of increased but changing demand and government assistance in the semiconductor industry. | Tax Notes International
Archived articles
2023
March 2023 | This article provides a brief overview of recent events pertinent to the taxation of financial products. It covers recent guidance on the stock buyback excise tax and corporate alternative minimum tax, Chief Counsel Advice memos 202302011 and 202302012 on digital asset issues, the status of digital asset broker reporting regulations, and the recently released changes to the digital asset question on Form 1040. | Journal of Taxation of Financial Products
March 9, 2023 | The authors of this article suggest that with the latest installment of the EU’s anti-tax avoidance directive likely to become its next tax focus area, private equity firms should prepare for more questions about whether their structures are genuine and whether decisions on where to locate holding companies reflect reality. | Bloomberg Tax
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March 2023 | The article focuses on the core provisions in the section 367(b) regulations relating to inbound and foreign-to-foreign nonrecognition transactions. | Taxes - The Tax Magazine
February 13, 2023 | In this article, the authors explain how companies are measuring internal carbon pricing (ICP) and suggest how transfer pricing practitioners can support ICP and the associated allocations of intercompany carbon fees. | Tax Notes International
March 2023 | This article looks at complicated framework for analyzing value shifts among partners in different contexts. | Taxes - The Tax Magazine
February 20, 2023 | This article reviews the Inflation Reduction Act provisions that have significant accounting and tax implications for the pharmaceutical industry. | Tax Notes Federal
February 27, 2023 | Absent legislative relief from mandatory capitalization and amortization of research and experimentation expenditures, taxpayers must now consider the §174-related issues highlighted in this article for their tax return, financial statement provision, and quarterly estimated tax payments for tax years beginning after December 31, 2021. | Tax Management Memorandum
February 3, 2023 | This article catalogs the current status of U.S. tax treaties and international tax agreements as of January 27, 2023. | Tax Management International Journal
February 3, 2023 | In this article, the authors discuss the impact of the Brazilian tax authority's issuance of Provisional Measure 1152, bringing Brazil’s historical, formula-based transfer pricing rules ever closer to an arm’s length standard consistent with the OECD Guidelines. | Bloomberg Tax
February 3, 2023 | This article discusses the most common client questions from those who are struggling to understand the state tax implications of digital currency. | Bloomberg Tax
January 30, 2023 | In this article, the authors discuss the potential sales and excise tax implications of electric vehicle charging stations, including the two areas in which tax issues are likely to arise: the build-out or installation of those stations and electricity sales through them. | Tax Notes State
January 23, 2023 | This article provides a general overview of the UP-C structure as well as mechanics of a TRA and presents reasons why energy companies valued on yield using the UP-C structure in a public offering may be discouraged from entering into a TRA. | Tax Notes Federal
January 23, 2023 | The authors of this article discuss new guidance addressing the corporate alternative minimum tax (CAMT) that suggests Treasury will build out an extensive and complicated CAMT regime. | Bloomberg Tax
January 16, 2023 | In this article, the authors explain what carbon trading is, why it exists, why it is important, why some companies are doing it, and ways in which multinational corporations can think about the transfer pricing aspects of a carbon trading function. | Tax Notes State
January 10, 2023 | This article breaks down the highlights of the U.S. Treasury guidance in Notice 2023-2 on excise tax on buybacks of corporate tax and discusses next steps affected taxpayers should consider. | Bloomberg Tax
2022
December 22, 2022 | This article provides an illustration of the challenges faced by the oil and gas industry in applying one of these special rules related to two products derived from natural gas: methane and butane. | ABA Tax Times
December 19, 2022 | This article addresses some of the issues raised by the new corporate alternative minimum tax in determining whether certain entities are subject to the CAMT regime, which requires partnerships to calculate extensive information for corporate partners. | Tax Management Memorandum
December 5, 2022 | This article examines the core principles of section 704(c) and how the ceiling rule may result in unanticipated consequences for taxpayers. It also provides a numerical illustration of the application of the traditional method and the effect of the ceiling rule. | Tax Notes Federal
December 2, 2022 | The authors of this article revisit the role of mutual agreement procedure (MAP) requests in compulsory payment determinations under the foreign tax credit rules. | Tax Management International Journal
December 2022 | This article discusses IRS guidance on classifying cryptocurrencies for U.S. federal income tax purposes; describes lot relief methodologies available to cryptocurrency investors and best practices for tracking and documenting tax basis; provides an overview of the tax considerations related to cryptocurrency losses; considers the tax consequences of updates to the Ethereum blockchain; and provides an update on the information reporting provisions in the Infrastructure Act. | Journal of Taxation of Financial Products
December 2022 | This article highlights recent events, including the new stock buyback transactions excise tax, an IRS memo on merger termination fees, and a Tax Court case considering the tax characterization of a loan with certain equity-like features, pertinent to the taxation of financial products. | Journal of Taxation of Financial Products
November 28, 2022 | In this article, the author explores the aspects of administrative law that may be most useful to transfer pricing practitioners by examining the leading cases, relevant Treasury regulations, and avenues for regulatory challenges. | Tax Notes Federal
November 23, 2022 | In this article, the author explains how soccer's global importance, plus recent moves by multinational enterprises into the industry, may bring closer attention from tax authorities. | Bloomberg Tax
November 14, 2022 | This article examines the Biden administration’s proposal to expand access to retroactive qualified electing fund elections and explaining why that reform is needed. | Tax Notes Federal
October 31, 2022 | This article addresses the partnership rules applicable to oil and gas property sales, and how the choice of section 704(c) method affects partnership sharing from sales of oil or gas property—particularly situations in which the partnership uses the traditional method for section 704(c). | State Tax Notes
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October 19, 2022 | The authors of this article takes practitioners through the background on the section 965 transition tax, which allows for an extended six-year statute of limitations on assessment under section 965(k), and delves into a recently issued interim guidance memo issued by the IRS Large Business & International division. The article addresses applying the section 965 extended assessment period to Tax Equity and Fiscal Responsibility Act of 1982 (TEFRA) and Bipartisan Budget Act of 2015 (BBA) partnership examinations. | Tax Management Real Estate Journal
October 7, 2022 | In this article, the authors discuss the disruption caused by chimeric antigen receptor T-cell (CAR T) therapy, a type of cell and gene therapy, to standard business models in the life sciences industry and its implications for transfer pricing. | Tax Management International Journal
October 7, 2022 | In this article the authors review a recent KPMG survey that highlights commonalities in how 16 major jurisdictions address some common issues pertaining to transfer pricing analyses of intercompany loans and guarantees. | Tax Management International Journal
October 7, 2022 | The authors of this article discuss the most significant pieces of Chile’s tax reform bill that affect U.S. cross-border investors. | Tax Management International Journal
September 26, 2022 | The authors of this article explore the potential impact of the OECD’s current work program on how to approach transfer pricing. First, they focus on the impact of BEPS 2.0, and then, they consider the threats and opportunities created by the OECD’s ongoing work on article 9 of the model tax convention and potential improvements to dispute resolution mechanisms. | Tax Notes International
September 26, 2022 | Market volatility can create opportunities for traders but it can also be a source of angst. As the year winds toward its final quarter, investors that may be thinking about taking losses for tax purposes (or reading advice on ‘‘loss harvesting’’) should also consider some of the tax imponderables that come with loss sales — most particularly the possibility of triggering tax wash sale rules. What are the rules, and how can investors avoid inadvertently subjecting themselves to their impact? | Tax Management Memorandum
September 22, 2022 | In a follow-up to their August 22 “Why It’s Still Not Time for Global Formulary Apportionment” article, the authors argue in this article that all the proposed alternatives to the arm’s-length principle lack its two key benefits of neutrality and flexibility and looks ahead to what the future may bring. | Tax Notes International
September 19, 2022 | In this article, the author examines how the OECD and tax authorities worldwide have addressed the taxation of cryptocurrency in unique and often conflicting ways and considers the challenges of establishing and coordinating an effective exchange of information and enforcement of international cryptocurrency taxation stemming from the technologies’ sui generis nature and its potential to disrupt international monetary and financial systems. | Tax Notes International
September 2022 | The authors of this article review IRS enforcement efforts regarding foreign corporations’ U.S. income tax returns and discuss the process by which taxpayers with untimely returns can request waivers allowing them to claim the benefit of credits and deductions. I International Tax Review
August 22, 2022 | The international tax system is in a state of flux, with potentially significant changes being driven by the OECD’s BEPS 2.0 project. Academics and the European Commission are (again) asking whether it is time for global formulary apportionment. The authors of this article explain why this time hasn’t arrived and explore the problems countries that chose to adopt formulary apportionment would face. | Tax Notes International
August 2022 | The authors of this article analyze the state of the law on related-party wash sale transactions and the Build Back Better Act wash sale proposals. They provides a brief background on the current wash sale rules; a discussion of the prior application (or non-application) of the wash sale rules to related-party transactions by the courts; an overview and analysis of IRS guidance on related-party wash sale transactions; and a review of the Build Back Better Act’s proposed amendments to the wash sale rules. | Journal of Taxation of Financial Products
August 2022 | The U.S. Tax Court released on June 13, a memorandum opinion, Howland v. Commissioner, which considered whether a couple was entitled to a home mortgage interest deduction after the foreclosure of their home. In this article, the author explores discussion in the opinion that may indicate the Tax Court’s position on applying payments on distressed debt instruments to principal and interest. How the Tax Court decision raises the question of how a taxpayer can demonstrate how the lender applied payments between principal and interest in cases where the lender does not issue a Form 1098, Mortgage Interest Statement, is also discussed. | Journal of Taxation of Financial Products
August 15, 2022| In this article, the authors examine potential double taxation of U.S. multinationals operating in Brazil resulting from the U.S. final foreign tax credit regulations and Brazil’s transfer pricing regime, which is not aligned with the arm’s-length standard. The article considers whether this outcome might accelerate Brazil’s accession to the OECD and adoption of the arm’s-length standard. | Tax Notes International
August 8, 2022 | The authors of this article explore how the recent changes in the foreign tax credit regulations have introduced several possibly unintended consequences to the engineering and construction industry. | Tax Notes International
August 2, 2022 | In this article, the authors discuss possible updates to the IRS’s mutual agreement procedure (MAP) and advance pricing agreement (APA) revenue procedures, and considers how successor guidance could further improve the MAP and APA programs. | International Tax Review
August 1, 2022 | Tax professionals from four firms provide answers to frequently asked questions on trending topics in the research and experimental (R&E) and research and development (R&D) tax credits space. The issues addressed include the effect of mandatory capitalization of R&E expenditures, potential for guidance and legislation, practice pointers for taxpayers implementing the changes, state-by-state conformity, the additional information requirement, refund claims filed before the effective date, potential procedural challenges for disallowed refund claims, and whether the change under section 174 makes it more advantageous to claim the R&D credit under section 41. | Tax Management Memorandum
July 11, 2022 | This article examines a significant but frequently overlooked piece of the OECD’s Pillar 1 proposal, Amount B. The authors explain how Amount B could work, discuss implementation challenges, and consider how businesses can prepare. | Tax Notes International
July 4, 2022 | In this article, the authors examine the status of the OECD’s two-pillar approach to modernizing the international tax system and consider the international implications of the different paths countries are taking to implement Pillars 1 and 2. | Tax Notes International
July 11, 2022 | In this article, the authors discuss the recent OECD public consultation documents on tax certainty for Amount A of pillar one and related issues, and review key areas that remain undecided. | International Tax Review
July 4, 2022 | In this article, the authors examine how the impacts of an unprecedented pandemic, widespread disruptions in supply chains, and related policy developments are affecting trade and tax considerations, with the goal of helping multinational corporations decide how to structure their supply chains. | Bloomberg Tax
June 13, 2022 | In this article, the authors provide an overview of the growing demand for critical minerals needed to make the batteries in electric vehicles and examines tax issues involving common funding structures for mineral interests. | Tax Notes Federal
June 15, 2022 | In this article, the authors provide an overview of the IRS Notice 2022-23 proposing changes to the qualified intermediary agreement, as well as some observations. | Tax Management Real Estate Journal
June 3, 2022 | In this article, the authors provide an overview of the new Brazilian transfer pricing system envisioned by the OECD and the Brazilian Federal Tax Authorities, which represents a complete departure from Brazil’s old system. The newly announced transfer pricing regulations would be an improvement for U.S.-based multinationals — particularly those seeking foreign tax credits under the new regulations — but there is still uncertainty whether holistic consistency between the Brazilian and U.S. income tax systems (and correlative creditability) can be achieved. | Tax Management International Journal
June 2022 | In this Tax Clinic, find nine short articles spanning a variety of practice areas, including digital asset cost basis reporting; transfer pricing—mutual agreement procedure, secondary adjustments, and DEMPE; influencers and noncash compensation; global mobility—Social Security, tax compliance, and foreign tax credits; and Tennessee taxation of passthrough entities. | The Tax Adviser
May 30, 2022 | The authors of this article explore the complexities that corporations face (and the potential benefits they may enjoy) if they have charitable contributions and net operating loss carryovers available for deduction on their 2021 returns. | Tax Notes Federal
May 26, 2022 | The authors of this article indicate that given the growing change of companies moving toward more sustainable business practices, companies need to reevaluate the value drivers of their business to determine if they need to modify their transfer pricing policies. | Bloomberg Tax
May 9, 2022 | The authors explain the provisions of the proposed excise tax on some stock repurchases by corporations and how the tax might apply to various transactions. | Tax Notes Federal
May 2, 2022 | The IRS and Treasury have long claimed that subregulatory published guidance is exempt from notice and comment requirements established by the Administrative Procedure Act. Two recent cases, Mann Construction and CIC Services, however, rejected this claim in the context of two IRS notices, paving the way for taxpayers to wage similar successful attacks. The authors of this article focus on IRS rules carrying the force of law that were issued without any notice and comment procedures. It also reviews court opinions addressing those rules and the Administrative Procedure Act and explains how taxpayers may use the opinions in future disputes. | Tax Notes Federal
May 2022 | In this article, the authors describe the Whirlpool case and its implications for Subpart F planning and controversy. | International Tax Review
May 2022 | In this article, the authors discuss the Internal Revenue Service’s (IRS) advance pricing agreement (APA) statistics for 2021, and the state of the IRS APA programme. | International Tax Review
April 18, 2022 | In this article, KPMG authors provide perspective on how companies can better use transfer pricing processes and technology to address recent regulatory and reporting changes and prepare for additional changes to come. | Tax Notes International
April 2022 | Growing investment and recent tax developments have generated increased interest in cryptocurrency staking. In this article, the authors provide a general overview of staking and consider the different potential tax characterizations of staking and the general U.S. income characterizations. They then provide several considerations for special classes of investors, such as foreign and U.S. tax-exempt investors | Journal of Taxation of Financial Products
April 4, 2022 | In this article, the authors examine the changes to section 7874 proposed by the Senate Finance Committee in connection with the Build Back Better Act from an historical perspective, and they explain how the proposal could be fine-tuned to address the government’s underlying policy objectives without producing unintended, counterproductive results. | Tax Notes International
March 21, 2022 | The authors of this article examine the concept of nonfungible tokens (NFTs), analyze some of the key sales and use tax issues that have emerged regarding their sale, and provide first steps for NFT marketplaces and sellers to take to protect themselves in potential sales tax disputes. | Tax Notes State
March 2022 | In this article, the authors review common compliance activities that can help drive export compliance as it relates to high-risk third parties and handling controlled technology. | Export Compliance Manager
March 14, 2022 | In this article, the authors examine significant developments with the section 174 amendments and how they affect common transfer pricing arrangements. | Tax Notes Federal
March 7, 2022 | In this article, the author examines various aspects of the section 409A private corporation stock valuation regulations, and explains why businesses may be tempted to adopt an overbroad reading of the rules. | Tax Notes Federal
March 2022 | The authors describe changes to section 174 and what this may mean for entities that provide contract research and development services to related parties. | International Tax Review
February 28, 2022 | In this article, the author examines how the pandemic affected the real estate investment trust industry and various lease restructuring options from a transfer pricing perspective, and recommends leading practices to minimize the effect of economic downturns on operations. | Tax Notes Federal
February 28, 2022 | The authors provide an overview of recent revenue procedures modifying the small business taxpayer exemption method changes. | Tax Management Memorandum
February 2022 | The United States column in the February issue of International Tax Review discusses certain aspects of recent U.S. Treasury final regulations regarding foreign tax creditability. | International Tax Review
February 2022 | In this article, the authors evaluate the potential impact of emerging U.S. restrictions against Russia. | Export Compliance Manager
Jan/Feb 2022 | This article highlights some of the issues arising from the limited IRS guidance that has been issued in the compensatory partnership interests area from the perspective of a compensation and benefits advisor. Given the exponential growth of partnership structures and resulting use of compensatory partnership interests, with limited definitive guidance from Treasury and the IRS, working with compensatory partnership interests has become equal parts technical expertise and risk management. | Corporate Taxation
January 24, 2022 | The authors of this article consider the implications of a recent IRS legal memorandum concerning the statute of limitations on assessments involving subpart F and how that could affect a taxpayer’s overall return. | Tax Notes International
Winter - January 2022 | This article looks at a centralized risk management model in which a single domestic treasury center enters into derivatives (ISDA transactions) under one or more ISDA Master Agreements with domestic banks in order to manage risks of affiliates (domestic and/or foreign). After setting assumptions, the article discusses the basic tax issues raised by assignment/delegation and concludes that authorities can provide support in favor of the position that an assignment agreement of the type discussed, under which the Treasury Center acts as a conduit or a “secret” agent for its affiliates under an undisclosed internal assignment agreement, can be respected for federal income tax purposes even if the tax position taken by the Treasury Center appears to violate representations made to its counterparty with respect to the trades. | Journal of Taxation of Financial Products
Winter - January 2022 | Congress imposes an excise tax on certain premiums paid to foreign insurers and reinsurers. The Internal Revenue Service has a long history of being assertive when applying this excise tax. The authors of this article provide the background and summarizes the IRS’s historical positions regarding the premium excise tax. Then, the article discusses the most recent IRS audit activity and proposes ways that taxpayers may address the IRS’s questions. | Journal of Taxation of Financial Products
January 26, 2022 | Authors of this article recap and reflect on US transfer pricing developments from 2021. | International Tax Review
January 25, 2022 | The authors of this article review recent developments in 'tax certainty'. | International Tax Review
January 24, 2022 | The authors of this article highlights issues taxpayers must consider now that the scheduled changes to the treatment of research and experimentation (R&E) expenditures—mandatory amortization—have taken effect beginning January 1, 2022. | Tax Management Memorandum
January 10, 2022 | In this article, the authors examine a potential and overlooked consequence of the Build Back Better Act for corporate taxpayers continuing to carry forward minimum tax credits under the old alternative minimum tax regime. | Tax Notes Federal
January 10, 2022 | In this article, the authors provide an overview of India’s advance pricing agreement program, including key benefits to taxpayers and some of the difficulties being addressed by tax authorities. | Tax Notes International
January 7, 2022 | The article provides an overview of the Organization for Economic Cooperation and Development’s (OECD) Pillars 1 and 2, and describes some of the most immediate issues implicated by BEPS 2.0 in Latin America as identified by authors from Argentina, Brazil, Chile, Colombia, Costa Rica, Dominican Republic, Mexico, Panama, Peru, and Uruguay. | Tax Management International Journal
2021
December 2021 | In this article, the authors explore potential export control implications of the new, flexible work environment of the remote workforce. | Export Compliance Manager
December 20, 2021 | The author examines how credit-elect overpayments are treated when there are subsequent tax assessments. In particular, the article discusses the Fifth Circuit’s recent taxpayer-favorable decision in the Goldring case. | Tax Notes Federal
December 17, 2021 | With multilateral controversies on the rise, it is important for taxpayers to understand how to effectively engage with tax authorities on these issues. Part 2 of this two-part article takes a deeper dive into procedures and takes a deeper dive into procedures and makes practical recommendations. | Bloomberg Tax
December 16, 2021 | With multilateral controversies on the rise, it is important for taxpayers to understand how to effectively engage with tax authorities on these issues. Part 1 of this two-part article considers the context of these controversies and discusses the need for multilateral engagement by the tax authorities. | Bloomberg Tax
December 13, 2021 | In this report, the authors examine LTR 202141005 regarding the application of section 304(c) to public mergers and acquisitions transactions. | Tax Notes Federal
December 1, 2021 | In this article, the authors discuss the Amount A tax certainty process and how it turns traditional transfer pricing dispute resolution on its head for in-scope taxpayers. | International Tax Review
November 2021 | In this article, the authors lay out steps to take in the event of egregious export compliance violations that may force the temporary halt of enterprise-wide export activities. | Export Compliance Manager
November 17, 2021 | For years, the IRS has committed to audit morepartnerships. This is the year that it plans to deliveron its promise Partnerships and their advisors shouldget ready. The first audit notices for the new IRSLarge Partnership Compliance Program are being is-sued this fall. | Bloomberg Tax
November 5, 2021 | In this article, the authors lay out a number of common scenarios and describes some successful strategies and best practices in approaching tax controversies with multilateral dimensions. | Bloomberg Tax
2021 | In this article, which originally appeared as chapter 3 in University of Southern California Gould School of Law 73rd Annual Tax Institute – Major Tax Planning 2021, the authors provide in-depth insights on the tax implications of debtor-in-possession (DIP) financing, the DIP “rollup” loan. | LexisNexis Matthew Bender
October 21, 2021 | In this article, the authors review the latest decree of Vietnam's advance pricing arrangement (APA) that revamps the agreement to follow the new Tax Administration Law. | Bloomberg Tax
October 20, 2021 | In this article, the authors describe the transfer pricing items in the Treasury-IRS 2021–22 priority guidance plan, and explore how these may change or reinforce the US transfer pricing environment. | International Tax Review
October 12, 2021 | In this article, the authors provide an overview of major NFT business models and the tax issues associated with NFTs, with a particular emphasis on the U.S. federal income tax characterization of NFTs. | Journal of Taxation of Financial Products
October 12, 2021 | In this article, the authors consider the cryptocurrency information reporting provisions in the Senate Infrastructure Bill and the broader implications of tax information reporting for crypto transactions. The proposed legislation would require “brokers” to provide Code Sec. 6045 cost basis reporting for sales of digital assets and Code Sec. 6045A transfer reporting on transfers of such assets. | Journal of Taxation of Financial Products
September-October 2021 | Read about how tax has emerged as an important element of ESG, what the potential impact is on tax transparency, and how the scope of tax disclosures is likely to expand in the future. | Tax Executive, The Professional Journal of Tax Executives Institute
September 22, 2021 | In this article, the authors discuss the second U.S. Tax Court trial in Medtronic v. Commissioner and consider how the case may ultimately be resolved. | International Tax Review
September 20, 2021 | In this article, the author considers the policy considerations for limitations in the taxation of controlled foreign corporations in the Biden administration’s recent proposals to change the global intangible low-taxed income and foreign tax credit rules. | Tax Notes International
September 20, 2021 | In this article, the authors examine a recently released legal advice memorandum instructing IRS examiners on how to respond to cost-sharing rules compliance, and they argue that the IRS’s guidance will challenge the compliance strategy of many taxpayers. | Tax Notes International
September 16, 2021 | In this article, the authors describe a July 13, 2021 IRS advice memorandum and how its conclusions create risks for taxpayers that true-up unshared stock-based compensation costs under cost sharing arrangements. | International Tax Review
September 15, 2021 | In this article, the authors discuss the U.S. Tax Court's recent decision in Toulouse v. Commissioner and its ramifications. | International Tax Review
September 3, 2021 | This article explores the evolution and current state of transfer pricing for alternative investment firms and funds. | Tax Management International Journal
August 30, 2021 | In this article, the authors review recent changes to Mexico’s domestic and international tax regimes and outline emerging issues and potential paths that U.S. taxpayers may consider as they navigate Mexico’s regulatory landscape. | Tax Notes International
August 23, 2021 | In this article, the authors explain the OECD's international compliance assurance program process and when and how it can be most beneficial for multinationals and tax authorities. | Tax Notes International
August 8, 2021 | The author of this article discusses the temporary relief offered in Rev. Proc. 2021-29, released June 17, 2021, for certain Bipartisan Budget Act of 2015 (BBA partnerships) to file an amended return (versus filing the new, unfamiliar administrative adjustment request (AAR) procedures, when electing real property trades or businesses and seeking to apply a recovery period of 30 years under the alternative depreciation system for certain residential rental property. | Tax Management Real Estate Journal
July 26, 2021 | In this article, the authors explain how the Biden administration’s proposals to amend section 7874 could affect commonly structured foreign acquisitions of U.S. businesses, and they recommend changes and clarifications to better achieve the goals of those anti-inversion proposals. | Tax Notes Federal
July 19, 2021 | In this article, the authors review the United States' income taxation of foreign corporations. | Tax Notes Federal
July 2021 | In this article, the authors examine the Inclusive Framework’s July statement on pillars one and two and consider what it has to say about dispute prevention and resolution. | International Tax Review
Issue 2 (Volume 18), July 2021 | Although many cryptocurrencies have seen significant long-term price appreciation, the volatility of these assets, their boom and bust market cycles, and taxpayers’ ability to specifically identify the units of cryptocurrency sold could result in some cryptocurrency investors realizing significant tax losses upon sale. In this article, the authors consider whether the wash sale rules place limits on the deductibility of cryptocurrency losses and, for a variety of reasons, conclude that cryptocurrencies are most likely outside the scope of the wash sales rules as they currently stand today. | Journal of Taxation of Financial Products
Issue 2 (Volume 18), July 2021 | In this article, the authors consider the tax characterization of wrapped bitcoin and conclude that there are good arguments for treating minting wrapped bitcoin, burning wrapped bitcoin, and exchanging bitcoin and wrapped bitcoin on third-party exchanges as nontaxable transactions. | Journal of Taxation of Financial Products
Issue 2 (Volume 18), July 2021 | In this article, the authors summarize the federal income tax rules that apply to employer-owned life insurance (sometimes referred to as corporate owned life insurance, or COLI) and highlight how to avoid errors that may negatively impact the taxation of the COLI policies. | Journal of Taxation of Financial Products
July 8, 2021 | Hospitals with unrelated business activities that have generated significant losses need to be prepared for increased scrutiny by the IRS. In this article, the authors outline what hospitals can do to help prepare for potential IRS challenges. | Tax Management Estates, Gifts and Trusts Journals
July 5, 2021 | In this article, the authors examine the complexities in secondary adjustment rules and detail those regimes globally. | Tax Notes International
June 2021 | This article examines the sometimes-murky relationships between tax, strategy, transparency, and diverse stakeholder interests in pursuing environmental, social, and governance (ESG) goals. The authors discuss ways tax intersects with ESG and related tensions. | Perspectives on Tax Law & Policy, Canadian Tax Foundation
June 2021 | In this article, the authors describe the US approach to transfer pricing issues involving blocked income, a problem highlighted by recent and upcoming developments. | ITR Insight
June 2021 | In this article, the authors analyze the blocked income problem in the 1994 U.S. transfer pricing regulations and how the decision in the 3M case pending before the U.S. Tax Court might change the landscape. | Tax Notes International
June 4, 2021 | In this article, the authors provide an overview of Mexico's April 23, 2021, reform affecting “outsourcing” schemes in Mexico and outline the tax and employment implications that companies with Mexico operations should be considering. | Tax Management International Journal
June 2021 | In this Tax Clinic, find eight short articles that examine issues across several areas, including cross-border employee benefits, exempt organizations, cost-sharing rules, transfer price adjustments & customs, state proposals to tax digital ads, and other state & local tax developments. | The Tax Adviser
June 2021 | This article discusses the IRS’s advance pricing agreement (APA) statistics for 2020 and considerations of the APA program in the midst of the COVID-19 pandemic. | International Tax Review
May 24, 2021 | In this article, the authors examine country-by-country reporting, highlighting potential audit risks, misuses, and misunderstandings associated with it, and they offer some suggestions on ways taxpayers can address and potentially mitigate audit risk and related tax exposure stemming from their CbC reporting positions. | Tax Notes International
May 17, 2021 | This article outlines the authors' current understanding of the SHIELD proposal, put forth in the Biden Administration's Made in America Tax Plan to replace the TCJA's BEAT, and flags key questions about the proposal. | Bloomberg Tax
May 12, 2021 | In this article, the authors discuss forced labor in U.S. supply chains and how recent focus has garnered the attention of policymakers. | Law 360
May 2021 | Sectoral sanctions, unlike the OFAC Specially Designated Nationals (SDL) list, are designed to target specific industries or entities while limiting the negative effects on others, requiring more complex compliance management. | Export Compliance Manager
May 3, 2021 | This article outlines India’s recently overhauled audit system and highlights factors that taxpayers operating in India should consider when preparing for an audit. | Tax Notes International
April 2021 | In this article the authors discuss how self disclosure is an effective tool in mitigating potential consequences for violating export controls or sanctions laws - but it doesn't end there. | Export Compliance Manager
April 2021 | In this article, the authors explore the International Compliance Assurance Programme as a tool for preventing disputes that would otherwise need to be resolved through traditional mechanisms. | International Tax Review
April 21, 2021 | In this article, the authors examine the new set of proposed regulations, issued by the IRS and Treasury on April 14, 2021, that introduce new requirements for foreign and certain partnership investors in qualified opportunity funds. | Tax Management Real Estate Journal
April 12, 2021 | How has OECD's BEPS project changed the way governments handle mutual agreement procedure cases under tax treaties? | Tax Notes International
April 1, 2021 | This article discusses the recent IRS victory in the Coca-Cola case and explores its implications for other businesses. | International Tax Review
Issue 1 (Volume 18), April 2021 | In the article, the authors examine several key tax issues that all companies should be aware of as they take the next step to modernize their treasury and hedging operations, in light of increased globalization and market and trade volatility. | Journal of Taxation of Financial Products
March 29, 2021 | In this article, the author examines how U.S. rules on dual consolidated losses interact with OECD recommendations, arguing that without careful international coordination, the U.S. rules could create stranded losses in the relevant jurisdictions. | Tax Notes International
March 25, 2021 | Beginning in 2022 the research and development tax credit must be amortized over five years for activities taking place in the U.S. and 15 years for activities outside of the U.S. In this article, the authors explain the impact on life sciences companies. | Bloomberg Tax
March 22, 2021 | This article will discuss several often-overlooked non-dutiable charges that may, with proper planning, reduce a good’s declared customs value. | Tax Notes International
March 17, 2021 | This article highlights the history of QOZ reporting provisions, the reporting framework currently provided by Treasury, early reports on the impact of the program, approaches taken for state level reporting, and various proposals for additional federal level reporting. | Tax Management Real Estate Journal
March 4, 2021 | This article explores the conclusion to the Tax Court litigation in the Adams Challenge case, and notes key takeaways for other companies. | International Tax Review
February 17, 2021 | This article highlights IRS Notice 2021-10 which expands and extends previous relief for Qualified Opportunity Funds and their investors in response to the COVID-19 pandemic. | Tax Management Real Estate Journal
February 5, 2021 | In this article, the authors discuss the Mexico reform legislation, presented on November 12, 2020, with the objective of eliminating intercompany services arrangements in Mexico and modifying the related labor and tax consequences. | Tax Management International Journal
Issue 1 2021 (Volume 17), February 2021 | In this article, the authors discuss IRS Rev. Proc. 2020-44, which provides guidance to market participants that are currently modifying contracts to address the transition away from LIBOR, and the willingness it shows of government to work with taxpayers to limit the tax consequences arising from the transition. | Journal of Taxation of Financial Products
Issue 1 2021 (Volume 17), February 2021 | In this article, the author provides a detailed description pf certain leasing transactions that may be used to provide much needed liquidity to companies undergoing financial distress as a result of COVID-19. (Part 1 of the article was published in Fall 2020; see link below.) | Journal of Taxation of Financial Products
January 18, 2021 | In this article, the author examines the key characteristics of a special purpose acquisition company (SPAC) transaction and summarizes three common SPAC transaction structures and the tax nuances inherent in each. | Tax Notes Federal
February 4, 2021 | In this article, KPMG tax leaders explain the benefits for multinationals of the early certainty process in the OECD report on the pillar one blueprint. Among the blueprint’s proposals is a process for the prevention and resolution of disputes regarding Amount A, which allocates taxing rights on a portion of in-scope companies’ profits to market jurisdictions. | International Tax Review
January 11, 2021 | In this article, the authors examine the dispute prevention and resolution mechanisms discussed in the OECD's pillar 1 blueprint for taxing the digital economy. | Tax Notes Federal
January 11, 2021 | In this article, the authors examine U.S. and international tax considerations in transactions involving special purpose acquisition companies, including implications of the entity’s equity structure and jurisdiction of incorporation. | Tax Notes Federal
January 6, 2021 | In response to digital services taxes (DSTs) that have been proposed by the European Commission and a number of countries, the United States has threatened to impose retaliatory tariffs, arguing that DSTs unfairly target U.S. multinational corporations. This article summarizes the various DST proposals globally and discusses potential duty mitigation strategies should the United States choose to respond with retaliatory tariffs. | Bloomberg Tax
January 4, 2020 | In this article, the authors explore questions important to real estate investors that were left unanswered by the proposed regulations under new section 163(j). | Tax Notes Federal
January 4, 2021 | This article discusses the complexities inherent in secondary adjustment rules and details those rules in the United States and other jurisdictions globally. | Tax Notes International
2020
December 30, 2020 | Doug Poms, KPMG Tax principal and former Internatonal Tax Counsel at the U.S. Treasury Department, outlines what may likely be on the Treasury agenda on the international tax front in 2021. | Bloomberg Tax
December 16, 2020 | In this article, the authors examine the intent of the QOZ program, the possible reasons why investment by non-U.S. taxpayers has been limited, and potential solutions. | Tax Management Real Estate Journal
December 4, 2020 | In this article, the authors answer frequently asked questions about the implementation of mandatory disclosure reporting regimes and leading practice considerations for managing the reporting process. | Tax Management International Journal
November 30, 2020 | The authors discuss in this article how historically, the IRS showed mixed success with its partnership audit program. Both the Congressional Government Accountability Office and the Treasury Inspector General for Tax Administration have challenged the IRS to do a better job auditing partnerships, especially large partnerships. For years, the IRS has
committed to do just that. 2021 is the year that the IRS may finally deliver on its commitment. Partnerships and their advisors should get ready. | Bloomberg Tax
November 30, 2020 | In this article, the authors review IRS guidance regarding the application of excise taxes and income tax deduction rules to daily fantasy sports. | Tax Notes Federal
November 23, 2020 | In this article, the authors highlight tax risks associated with business acquisitions, including transactions treated as asset acquisitions for federal tax purposes. | Tax Notes Federal
November 18, 2020 | In this article, the authors outline certain considerations that a taxpayer should take into account when entering into a deferred like-kind exchange at the end of its tax year. | Tax Management Real Estate Journal
November 16, 2020 | In this article, the authors discuss recent state transfer pricing trends and how they have been affected by the COVID-19 pandemic. | Tax Notes Federal
Issue 3 2020 (Fall) | The author examines sale-leasebacks from a U.S. federal tax perspective, highlighting the true lease analysis that is fundamental to the characterization of a sale-leaseback transaction and the tax consequences that can result from the potential characterizations of the transaction. | Journal of Taxation of Financial Products
Issue 3 2020 (Fall) | The authors provide an in-depth analysis of the potential tax ramifications of discounting transitions for certain swaps, following the phase out of LIBOR. | Journal of Taxation of Financial Products
October 2, 2020 | In this article, the authors focus on the Action 12 of the OECD BEPS project, mandatory disclosure rules (MDR) to improve global tax transparency, and specifically on the MDR regimes of the European Union (including the United Kingdom) and Mexico. The two regimes illustrate the potential breadth of MDR and signals the challenges that multinational taxpayers will face as MDR proliferates in various forms. | Tax Management International Journal
Autumn 2020 | Transfer pricing adjustments may be even more critical in light of COVID-19. Some tax authorities are looking to audits as a means of replenishing depleted coffers, and many taxpayers may need to rely on post-year-end taxpayer-initiated adjustments to correct their transfer pricing as more reliable comparable data becomes available. | International Tax Review
October 2020 | The authors offer views on the role of the arm's-length principle in EU state aid enforcement. | International Tax Review
September 24, 2020 | Artificial intelligence (AI) is redefining the future of business and is substantially helping companies deliver robust intelligent automation solutions. In this article, the authors examine a specific transfer pricing related use case, benchmarking for transfer pricing, and how AI can be used to improve that process. | Bloomberg Tax
September 14, 2020 | In this article, the author provides a roadmap for navigating the real estate investment trust terrain associated with analyzing and investment that is not readily classifiable as either debt or equity. | Tax Notes Federal
September 7, 2020 | In this article, the authors analyze the IRS's FAQs regarding the five-year carryback period for net operating losses, and they clarify how C corporations can carry back NOLs to years subject to the alternative minimum tax rules. | Tax Notes Federal
September 2020 | Mark Martin and Thomas Bettge from KPMG note the opening of applications for the IRS’ CAP program’s 2021 year, and reflect on how the program’s approach to transfer pricing has shifted in recent years. | International Tax Review
August 31, 2020 | In this article, the authors highlight the movement toward increased transparency and how that translates into additional compliance burdens, concluding that country-by-country reporting is here to stay. | Tax Notes International
August 24, 2020 | In this article, the authors examine the mechanisms for and the tax consequences of secondary adjustments and analyze how taxpayers should conform their accounts following transfer pricing adjustments. | Tax Notes Federal
August 18, 2020 | This article reviews the relevant rules concerning the investment by REITs in health care and hotel facilities, summarizes the offshore TRS alternative structure and PLR 202029002, and explores the benefits available to REITs using the offshore alternative structure. | Tax Management Real Estate Journal
August 10, 2020 | In this article, the author reviews changes the CARES Act made to the definition of qualified improvement property. | Tax Notes Federal
August 4, 2020 | In this article, authors present reasons why concept unit should not be relied on when applying accuracy-related penalties. | Bloomberg Tax
July 31, 2020 | In this article, the authors discuss DEMPE principles, which were introduced in BEPS Actions 8-10 and incorporated in Chapter 6 of the OECD's transfer pricing guidelines, and the potential impact of BEPS 2.0 and COVID-19 on transfer pricing substance. | Bloomberg Tax
July 28, 2020 | In this article, the author evaluates the early evidence from the adoption of new lease accounting standards and draws preliminary insights about the most likely situations where the use of financial data from benchmarking databases may require additional considerations or adjustments. | Bloomberg Tax
July 28, 2020 | The objective of this article is to evaluate the early evidence from the adoption of the new standards and draw preliminary insights about the most likely situations where the use of financial data from benchmarking databases may require additional considerations or adjustments. | Bloomberg Tax
July 24, 2020 | In this article, the authors examine how the VAT applies in the digital and provide general guide for companies looking to Comply with VAT rules for digital goods and service, from the fundamental challenges of the digital world to the newest challenges presented by cutting-edge technologies and changing business models. | Tax Notes International - Special Reports
July 20, 2020 | In this article, the authors discuss how tariffs affect intellectual property payments for imported goods. | Tax Notes International
July 20, 2020 | In this letter to the editors of Tax Notes Federal, the authors update their June 8, 2020, article, titled "Navigating IRS Fax Rules to Expedite NOL and Minimum Tax Refunds," providing an updated table of deadlines for filing Forms 1139 based on supplemental IRS guidance. | Tax Notes Federal - Letter to the Editor
July 6, 2020 | In this article, the authors discuss some potential approaches for adjusting profit benchmarks for controlled entities in the comparable profits method/transactional net margin method (CPMTMM) context, consistent with the arm's-length standard. | Tax Management Transfer Pricing Report
July 2020 | In this article, the authors focus on some of the significant international tax and transfer pricing issues arising from companies' activities disrupted by TCJA and COVID-19. | Journal of International Taxation
June 29, 2020 | In this article, the authors examine key trends affecting the life sciences industry in the COVID-19 pandemic and the associated transfer pricing considerations. | Tax Notes Federal
June 22, 2020 | In this article, the authors examine the considerations that should be taken into account in evaluating potential changes to related-party arrangements under the OECD transfer pricing guidelines and Treasury regulations. | Tax Notes Federal
June 22, 2020 | This article eschews issues in favor of a more practical question: given the current state of authority, what factors should taxpayers consider now when approaching the Altera issue on their own tax returns? | Bloomberg Tax
June 19, 2020 | This article focus on the VAT aspects of online program offerings, especially those courses offered for a fee. | Bloomberg Tax
June 15, 2020 | Recently a panel of KPMG LLP corporate and bankruptcy practitioners looked at the following questions: which debtor costs may be deducted, as opposed to being capitalized, in relation to a bankruptcy case. This article discusses the tax treatment of those expenditures. | Tax Notes Federal
June 8, 2020 | In this article, the authors examine the benefits and requirements of the expedited tentative refund procedure for net operating loss carrybacks and unused minimum tax credits, with special emphasis on temporary procedures adopted by the IRS in light of the coronavirus pandemic. | Tax Notes Federal
June 2020 | The authors address the transfer pricing implications of employees working outside their normal business jurisdictions during the COVID-19 pandemic. | International Tax Review
June 2020 | In this piece, authors discuss OFAC's latest advisory for the maritime industry and how these guidance can also be applicable to most business sectors that face the ongoing challenges of sanctions compliance. | Export Compliance Manager
Summer 2020 | This article presents a overview on Tax Court decision
whether the taxpayer is entitled to take deductions in Adams Challenge .| International Tax Review
May 25, 2020 | In this article, the authors explain how recent changes to the U.S. advance pricing agreement model confirm the potential to amend existing APAs and highlight the value of the APA process to address extraordinary economic disruption through tailored long-term solutions. | Tax Notes Federal
May 21, 2020 | The authors draw an overview of saving opportunities and consequences of global indirect taxes management during Covid-19. | Bloomberg Tax
May 18, 2020 | In this article, Chapman and Dobyan examine the interaction between the Coronavirus Aid, Relief, and Economic Security Act’s five-year net operating loss carryback provisions and the retained alternative minimum tax rules. | Tax Notes Federal
May 11, 2020 | In this article, the authors examine the implications of the economic downturn for pricing controlled intangible property transfers. | Tax Notes International
May 11, 2020 | In this article, the authors discuss the interaction of the full inclusion rule in section 954(b)(3)(B); the high-tax exception in section 954(b)(4); and the full inclusion kickout in U.S. Treas. reg. section 1.954-1(d)(6), which is meant to coordinate the two. | Tax Notes International
May 11, 2020 | In this article, Sowell discusses decision points of tax provisions and guidance relevant to the real estate industry issued in response to the COVID-19 pandemic. | Tax Notes Federal
May 11, 2020 | This article discusses significant challenges posed by COVID-19 disruption and some of the key issues for life sciences companies from tax, trade and valuation perspectives, covering supply chain, financing and cash flow, and research and development. Possible post-COVID-19 trends, opportunities, and issues for the industry are also discussed. | The Bureau of National Affairs
May 05, 2020 | This article focuses on the Advance Pricing Arrangement (APA) in Australia, China, Japan, New Zealand, Singapore, and Vietnam. | Tax Management Transfer Pricing Report
May 4, 2020 | In this article, the authors discuss proposed state digital service taxes, criticisms and practical issues regarding their application, and legal challenges they may face. | Tax Notes State
May 4, 2020 | In this article, Chapman and Unell argue that a consolidated return regulation can be read to include an adjustment that should allow all minimum tax credits that arose in a separate return limitation year to be refunded by the 2019 tax year. | Tax Notes Federal
May 2020 | The authors present ITAR's five most common mistaken that can commonly result in violations. | Export Compliance Manager
May 2020 | The authors discuss the most recent U.S. APA statistics in the context of broader trends. | International Tax Review
April 27, 2020 | In this article, the authors provide flowcharts to assist practitioners in determining whether companies are eligible for benefits under the limitation on benefits provision in the Spain-U.S. income tax treaty. | Tax Notes International
April 20, 2020 | In this article, the authors consider how the U.S. base erosion and antiabuse tax will affect subsidiaries owned by real estate investment trusts. | Tax Notes International
April 17, 2020 | The author discusses past years developments as well as the COVID-19 pandemic impact on the Unemployment Insurance Fund | Cal Tax Letter
April 6, 2020 | In this article, the author explores what the Trump administration’s fiscal 2021 budget signals about the IRS’s priorities and the future of tax administration. | Tax Notes Federal
April 2020 | The authors discuss ways to improve training in export controls and sanctions. | Export Compliance Manager
April 2020 | The authors explore certain implications of the global COVID-19 pandemic for companies' transfer pricing arrangements. | International Tax Review
March 30, 2020 | In this report, the authors trace the development of the IRS Large Business and International Division’s new approach to transfer pricing enforcement, and they explain the practical implications for taxpayers and advisers. | Tax Notes International
March 26, 2020 | In this article, the first of a series, the authors will focus on the 2020 transfer pricing treatment for the limited risk operations in China. | Tax Management Transfer Pricing Reporting
March 24, 2020 | This article discusses key considerations and U.S. Customs and Border Protection (CBP) rules and decisions that companies should take into account when altering supply chains or manufacturing operations to obtain different ‘‘origin’’ outcomes for tariff purposes. | Bloomberg Tax
March 23, 2020 | n this article, the authors examine
like-kind exchanges under section 1031, taxdeferred like-kind exchange equivalents under other statutes, and how the new bonus depreciation rules effectively enable similar like-kind exchange results. | Tax Notes Federal
March 9, 2020 | In this article, the author explains how the real estate investment trust rules apply to coworking businesses, and he examines different structures that may be available to REITs in this area in light of the various technical problems. | Tax Notes Federal
March 6, 2020 | The author discusses recent IRS guidance that indicates the IRS Office of Appeals will play a larger role in the new partnership audit procedures under the Bipartisan Budget Act of 2015. The author concludes that although further guidance is needed, the memorandum is an important first step. | Tax Management Transfer Pricing Reporting
March 2, 2020 | In this article, the authors discuss recent significant changes and trends for banks and financial institutions that should be considered when evaluating unclaimed property compliance processes and procedures. | Tax Notes State
March 2020 | This article presents ways to access risk in a dynamic regulatory landscape to promote compliance without impending the business. | Export Compliance Manager
March 2020 | In this article, the authors explore the application of EU mandatory disclosure requirements to transfer pricing arrangements. | International Tax Review
Quarter 1 2020 | In this article, the authors examine the proper tax treatment of cryptocurrency loans, a financial product that has recently emerged in the budding cryptocurrency industry. | Journal of Taxation of Financial Products
February 28, 2020 | In this article, the authors discuss key considerations for U.S. multinationals to consider as a result of a potential Brazilian tax reform. | Bloomberg Tax
February 13, 2020 | In this article, the author discusses are three critical survival skills for tax professionals gearing up for the 2020 tax compliance season: Teamwork and Collaboration, Project Management, and Innovation.| Bloomberg Tax
January 13, 2020 | In this article, the authors discuss potential state tax happenings in 2020 that could shake up California's tax system | Tax Notes State
January 27, 20 | n this article, the authors discuss recent important developments in transfer pricing and suggest practical considerations for multinational entities. | Tax Notes International
January 13, 2020 | In this article, the authors outline an approach that could, under appropriate circumstances, offer an alternative path for troubled companies to get a refund of taxes for capital needs based on previously unclaimed historical tax attributes. | Tax Notes Federal
January 10, 2020 | This article updates a previous discussion on the BEAT - the base erosion and anti-abuse tax. | Tax Management International Journal