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FEATURE STORY:
2011 Reporting Requirements for Foreign Assets
(IRS Form 8938)
With such potentially severe penalties, if you hold foreign assets, it’s important to determine whether you’re subject to the Form 8938 requirements.

Maximizing Tax Benefits from Intangible Property Ownership & Development
The offshore IP structure described herein is intended to provide a globally expanding US company (“US MNC”) an indefinite deferral from US and possibly foreign income taxation of the profits associated with certain foreign revenues from the sale of product(s) to foreign customers.

IFRS Adoption in the United State Marches On
Companies should begin to assess the impact that the continued transition towards IFRS will have on their financial reporting, internal controls, covenants and results of operations in the near future.

The High Cost of Non-Compliance: Transfer Pricing
Congressional aversion to raising taxes in today’s continuing difficult economy is abundantly clear. The Internal Revenue Service (IRS) is left in the position of trying to increase revenue for a government badly in need of funding without a corresponding increase in tax rates. Pressure is even higher on the 7,645 state and local tax authorities