Brady Ware News

Go Green, Save Green

Tax Breaks for Saving Energy Earth Day is April 22. This occasion reminds us to consider implementing changes to help reduce the amount of energy we consume. But “going green” isn’t just good for the Earth — certain energy-saving expenditures also may qualify for generous tax breaks that are good for your pocketbook, too. Here…

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Countries Seek Digital Tax Consensus

More than 100 Countries Agree to Seek Digital Tax Consensus by 2020 Some 110 countries have agreed to work toward forming an international consensus by 2020 on how to tax digital businesses across borders, according to the Organisation for Economic Co-operation and Development (OECD). In a report commissioned by G20 powers, the OECD said the…

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IRS Issues Guidelines on Waiving Filing Deadlines for Foreign Corporations

The IRS Large Business and International Division (LB&I) has issued guidelines for handling delinquent Forms 1120-F, U.S. Income Tax Return of a Foreign Corporation, and for making filing deadline waivers. Foreign corporations engaged in a trade or business within the U.S. can claim deductions and credits on income that are effectively connected with income associated…

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IRS Boosts Fees on Advance Pricing Agreements

Advance Pricing Agreement The IRS is increasing the fee it charges multinational business taxpayers for a unilateral or bilateral advance pricing agreement (APA). APAs are agreements that companies strike with the IRS to resolve potential transfer pricing disputes ahead of time. With an agreement on the prospective tax treatment of international commerce between related parties,…

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Got Bitcoin? Virtual Currency Complicates Tax Reporting

Bitcoin has been around for nearly a decade. But the tax rules related to “virtual currency” are still evolving. In fact, some Bitcoin investors may be in for a surprise when they file their 2017 returns. Tax matters will become even more complicated for 2018 returns because relevant provisions of the new tax law (the…

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