Lee, Wrangler, Nautica, Vans, and North Face are iconic apparel brands, all owned by VF Holdings through its numerous acquisitions. The company also acquired Timberland Co. in 2011, doubling its global footwear business. That merger, however, has resulted in a... Read More
The AICPA and other accounting organizations sent a strongly-worded letter to IRS and Treasury all but demanding that the IRS immediately grant penalty relief and suspend other compliance measures until the IRS solves its many problems. Read More
Learn about a pragmatic and cost-effective approach for Transfer Pricing planning, benchmarking and documentation for U.S.-based Multinational Companies (MNCs) from Frazier & Deeter’s Global Transfer Pricing team. Read More
Employers that took steps to get the employee retention credit for the 4th quarter of 2021 got a rude awakening when Congress retroactively took it away. Read More
Third-party payment networks will be required to send business users Form 1099-K for transactions that equal $600 or more in the aggregate. Read More
The House passed the $1.75 trillion Build Back Better Act on November 19, 2021, and the legislation is now under Senate consideration. Known as H.R. 5376, the legislation is the second prong of President Biden’s social and economic policy program.... Read More
Finance Committee Chairman Ron Wyden, D-Ore., has released a proposal for a special new tax on high-net-worth individuals. Read More
Because of the controversy surrounding bank account reporting and the “widespread mischaracterization” of the plan, the Treasury Department has taken the unusual step of releasing a fact sheet in advance of bill passage. Read More
The $3.5 trillion infrastructure bill has cleared the House tax writing committee and now is the subject of intense negotiations to move it forward. Read More
After competing for the lowest tax rates for years, 132 countries holding 90% of the world’s GDP have agreed to a framework for a global minimum tax on corporations. The plan, described in an OECD Statement, is a two-pillar package... Read More
