New Tax Rule for Local Lodging Expenses

adminUncategorized

The IRS recently issued long-awaited regulations that permit certain not-away-from-home lodging expenses to be deducted by workers if they are not reimbursed by their employer. Alternatively, if paid for by the employer, the expense can be treated as a tax-free working condition fringe benefit (WCFB) or tax-free accountable-plan reimbursement. Thanks to prior IRS guidance, the value of an employer-provided WCFB … Read More

Foreign Financial Assets Reporting – Form 8938

adminUncategorized

My friend and associate Hale Sheppard has written an article called “The New Duty To Report Foreign Financial Assets on Form 8938: Demstifying the Complex Rules and Severe Consequences of Noncompliance.”  It was just published in the International Tax Journal. You might find the article interesting because (i) taxpayers and their adviors are struggling for the first time in 2012 … Read More

Dutch Tax Update

adminUncategorized

The 2013 Budget Bill or the so called Spring Deal has recently been approved by the Dutch Senate. This Budget Bill contains a number of measures which are intended to bring and keep the Dutch budget deficit at the EU required 3%. The Budget Bill measures will in principle be implemented on January 1, 2013. One of these measures consists … Read More