Internal Revenue Service Notice 2014-21

Section   1. Purpose

This notice describes how existing general tax principles apply to transactions using virtual currency. The notice provides this guidance in the form of answers to frequently asked questions.

Section   2. Background

The Internal Revenue Service (IRS) is aware that “virtual currency” may be used to pay for goods or services, or held for investment. Virtual currency is a digital representation of value that functions as a medium of exchange, a unit of account, and/or a store of value. In some environments, it operates like “real” currency — i.e., the coin and paper money of the United States or of any other country that is designated as legal tender, circulates, and is customarily used and accepted as a medium of exchange in the country of issuance — but it does not have legal tender status in any jurisdiction. Read More

You are invited to a private conference call on Friday, May 11, 2018 at 9:00AM PDT/10:00AM MT/11:00AM CT / 12:00NOON EST. This one of a kind conference call exposes an underworld of costly software mistakes that are affecting corporate tax departments worldwide.

Tax executives rarely know about the big mistakes made in purchases and implementation. I have asked these experts to share what really goes on. In order to get the real truth out we are providing anonymity to these folks and invite only those individuals currently employed in a corporate tax department. Read More

When you have been searching for tax executives for 30+ years you see hiring trends long before tax organizations realize what is happening. For tax executives who have worked with me over many years to build their tax organizations, I am going to share what we are seeing in the market right now so you are better prepared.

There is an explosion of tax opportunities about to reach the market of the likes I have not seen since TRA 1986 under President Reagan. Read More

While speaking to the Dean of a graduate tax program recently, I shared with them an important fact. The majority of corporations, public accounting, and law firms all require a graduate tax degree to get through the front door to interview today (or they want to see you are enrolled in a graduate tax program).  If you have a graduate tax degree like an MST, MLST or an LL.M, you made a great career decision already as these tax professionals are the ones who are being hired by major firms today.   Read More

You would never know what was hidden in these regulations unless you conduct extensive research which we did for our members. We will be providing our research to our members.  Based on a preliminary review, these proposals could be very far reaching and effect a wide range of our member’s clients. These proposals deserve your immediate review!

TaxConnections Members should study this very important information in order to make comments or request a public hearing on areas that will impact you and your clients. If you want to comment or request a public hearing please make note of the date of May 14, 2018. You must make a request for a public hearing before this date.

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Sales And Use Tax Manager in New Jersey

Responsibilities include the timely and accurate completion of filings and various tasks related to the Company’s corporate sales, use, property and miscellaneous tax compliance. The Tax Manager will interact with the in-house tax department, IT, accounting and finance teams, co-sourcing service providers, and government tax agencies in meeting tax compliance and tax audit requirements. Responsibilities include the following: Read More

Want to work for a positive, supportive, lead tax executive everybody loves? Do you want to be the respected leader for the tax expertise you bring? Do you have public accounting or combined public accounting/industry experience? Our retained client offers a wonderful opportunity to you.

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The CEO of one of the world’s largest independent financial services organizations has co-written an assertive open letter to the U.S. Treasury Secretary to demand the Trump administration scrap the Foreign Account Tax Compliance Act.

Nigel Green, together with Jim Jatras, his co-leader of the Campaign to Repeal FATCA, have sent the five-page letter to the Honorable Steve Mnuchin as, after a year in office, nothing has been done to abandon the “worst law most Americans have never heard of.” This despite promises in the election campaign that, should they win, the Republicans would “call for repeal” of FATCA.

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The Tax Manager role requires partnership, S corporation, and high-net worth individual tax consulting/compliance experience and the skills to effectively diagnose clients’ needs in order to develop and implement solutions. Primary responsibilities involve providing tax compliance, tax accounting, tax research and planning for partnerships, S corporations and high-net worth individuals for sophisticated clientele. We will build upon your technical strengths in order to expand your expertise in other tax areas. Our firm builds well-rounded tax experts to serve a myriad of client needs which leads to continued professional growth. Our culture is to develop trusted tax advisors with sound judgement with the highest ethical standards in the profession. The Tax Manager/Partnerships will be responsible for a range of projects including:

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TaxConnections Members provide valuable insight into tax reform proposals. As these new tax proposals make their way through the House and the Senate, it is important to learn from highly experienced tax experts who have their eyes on the implications of any changes proposed or made.

Tax professionals are the people you can trust who understand these tax proposals. There is no better expert to look to than a retired tax expert like Do Amirian who recently sent me a copy of his letter to President Trump regarding Tax Reform Per House Bill (62% Increase for the elderly).  Retired tax executives are people who have the time and experience to see through the consequences of any new tax proposals. We need to learn from years of tax expertise!

Kat Jennings, TaxConnections CEO

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Honorable President Trump,

The House will have significant adverse tax impact on the elderly, with significant medical expenses because of the elimination of the medical expense deduction.

For example, I, and my spouse Violet, will experience a federal tax increase of 62% under the House bill because of the elimination of the medical expense deduction.

Such a tax increase, an incredible 62%, is unconscionable under any standard of fairness.

Mr. President, please retain this critical deduction for the elderly, who count in the tens of millions of individuals.

Respectfully and success with your Administration,

Dro Amirian

Retired Corporate Tax Executive

Los Angeles, California

 

Have a question? Contact Dro Amirian

Your comments are welcome!

 

The Tax Manager role requires partnership, S corporation, and high-net worth individual tax consulting/compliance experience and the skills to effectively diagnose clients’ needs in order to develop and implement solutions. Primary responsibilities involve providing tax compliance, tax accounting, tax research and planning for partnerships, S corporations and high-net worth individuals for sophisticated clientele. We will build upon your technical strengths in order to expand your expertise in other tax areas. Our firm builds well-rounded tax experts to serve a myriad of client needs which leads to continued professional growth. Our culture is to develop trusted tax advisors with sound judgement with the highest ethical standards in the profession. The Tax Manager/Partnerships will be responsible for a range of projects including:

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TaxConnections has been retained by a very successful high technology company in Silicon Valley. The Head of Tax will work closely with C – Suite Executives in managing and reviewing global corporate tax compliance, the global tax provision, transfer pricing and treasury strategy. Responsibilities include managing global outside tax consultants and reviewing processes and procedures. The Head of Tax will partner with internal business leaders to effectively manage exposure.

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