IRS Announces Position on Unilateral APA Applications Involving Maquiladoras

In October, the Internal Revenue Service announced that U.S. taxpayers with maquiladora operations in Mexico will not be exposed to double taxation if they enter into a unilateral advance pricing agreement (APA) with Mexico’s national tax authority, the Large Taxpayer Division of Mexico’s Servicio de Administración Tributaria

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Social Security Wage Base Rises To $127,200 For 2017; “Nanny Tax” Threshold Stays At $2,000

The Social Security Administration (SSA) has announced that the maximum amount of earnings subject to OASDI Social Security tax will rise to $127,200, in 2017 after holding at $118,500 for 2016 and 2015. The SSA cost-of-living adjustments (COLAs) are based on the rise in the average Consumer

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New Law Sets Jan. 31 W-2 Filing Deadline

Protecting Americans from Tax Hikes (PATH) Act. Enacted last December, the new law means employers need to file their copies of Forms W-2  by Jan. 31. These forms also go to the Social Security Administration. The new deadline also applies to certain Forms 1099. Those reporting nonemployee

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2016-17 Special Per Diem Rates

The IRS has provided the 2016-2017 special per diem rates for taxpayers to use in substantiating the amount of ordinary and necessary business expenses incurred while traveling away from home, specifically: (1) the special transportation industry meal and incidental expenses (M&IE) rates; (2) the rate for the

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TIGTA Releases Report on Implementation of Identity Theft Measures for 2016 Filing Season

The Treasury Inspector General for Tax Administration (TIGTA) has released a report regarding the implementation of new tax return-related data elements based on the 2015 Security Summit, Protecting Taxpayers from Identity Theft Tax Refund Fraud. TIGTA has concluded that tax-related identity thefts adversely affect the ability of

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