Brady Ware News

IRS Issues Proposed Guidance on Controversial SALT Limitation

In recent weeks, the IRS has issued a series of proposed regulations to help clarify provisions of the Tax Cuts and Jobs Act (TCJA). One of the most controversial parts of the law is the limit on individuals’ deductions for state and local taxes (SALT) that goes into effect this year. In the wake of…

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Coming Soon! Manufacturing Survey

Coming Soon! Manufacturing Survey With 2019 just a few months away, we am reaching out to ask for your participation in our annual Brady Ware-LEA Global National Manufacturing Outlook Survey. This project is part of our efforts to serve you as a true strategic business advisor. Your participation will help us help you. This survey…

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Transfer Pricing Ruling Reversed

Appeals Court Reverses Tax Court Transfer Pricing Ruling The Court of Appeals for the Eighth Circuit vacated the U.S. Tax Court decision in a long-running and closely watched transfer pricing case involving Medtronic and its Puerto Rico subsidiary. The appeals court determined that the Tax Court had rejected the IRS’s transfer-pricing method, and adopted that…

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IRS Provides Guidance on New UBTI Rule

Tax-Exempt Organizations: IRS Provides Guidance on New UBTI Rule The IRS recently issued much-needed guidance on how tax-exempt organizations should calculate unrelated business taxable income (UBTI) for each separate trade or business they operate. This requirement was part of the Tax Cuts and Jobs Act (TCJA), which was signed into law in December 2017. The…

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Foreign Tax-Free Savings Accounts Obligations

IRS Explains Intermediaries’ Obligations on Foreign Tax-Free Savings Accounts The IRS has revised its frequently asked questions (FAQs) on Qualified Intermediaries (QIs), Withholding Foreign Partnerships (WPs), and Withholding Foreign Trusts (WTs), in relation to the Foreign Account Tax Compliance Act (FATCA). The changes are aimed at providing guidance on a QI’s obligations under the 2017…

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