News

  IRS Commissioner Danny Werfel announced at a tax conference on October 24 that the IRS has ceased its practice of automatically imposing penalties for late submissions of Form 3520, Annual Return to Report Transactions With Foreign Trusts and Receipt of Certain Foreign Gifts, that report foreign gifts in Part IV. The commissioner noted that, […]

  For manufacturers, a robust privacy and data protection program has transitioned from being optional to being essential. There are currently 19 states that have enacted data privacy and data security laws, many of which are likely to impact manufacturers. There are several other states that have not yet passed or enacted comprehensive privacy laws […]

  Since the new Canadian digital services tax went into effect on June 28, many U.S. companies have been pondering how it will affect their e-commerce businesses — and what chunk of their budget this foreign tax burden will consume. The Canadian digital services tax, or CDST, passed despite U.S. objections. And, on Aug. 30, […]