Four years after the OECD and G20 countries adopted a 15-point action plan to attack base erosion and profit shifting (BEPS), a new era of international taxation was launched on June 7 when 68 countries signed a multilateral instrument. Several additional countries are committed to sign in the near future. The Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (MLI) is significant because it enables the rapid ... Keep Reading »
Comprehensive Tax Reform in the News: The Republican Framework Released
On September 27, Republican leadership from the House, Senate, and the Trump administration released the “Unified Framework for Fixing Our Broken Tax Code” (the “Framework”). The Framework outlines, in largely broad, general terms, the Republican goals and vision for comprehensive tax reform. The reform’s stated goals include increasing simplicity, providing tax relief for businesses and middle-class families, and ending incentives to ship jobs, capital, and tax revenue ... Keep Reading »
Intellectual Property
Tax exempt organizations often overlook their ownership and use of intellectual property, particularly their trademarks and copyrightable materials. Intellectual property (IP) use should concern a tax exempt organization because the organization must both (a) protect its IP; and (b) ensure that it is not infringing on someone else’s IP rights. Protecting the tax exempt organization’s IP requires identifying the IP and preferably registering it to secure rights in it. ... Keep Reading »
Retirement Plan and Leave Donation Programs During States of Emergencies
Employers can offer retirement plans and leave donation programs with features that allow access to retirement funds or paid time off to employees in need. These features can be added using standard plan operational procedures. While we can be grateful when the IRS offers “relief” from certain requirements under certain circumstances, plan sponsors must realize that, while this relief permits employers to roll out features more quickly, it may come with a potential cost ... Keep Reading »
Corporate Governance and D&O Indemnification
Corporate Governance Tax exempt organizations are generally more aware of their corporate governance policies and procedures now than they have been in the past in large part thanks to the revamping of the IRS Form 990. Many organizations have had a knee-jerk reaction to the questions on the Form 990 regarding which policies a tax exempt organization has in place by simply adopting them all, quickly, without giving much thought as to whether they are necessary or ... Keep Reading »