True Partners Consulting, a world-class tax and business advisory firm, has partnered with Corporate US Bound, a consortium of expert service providers brought together to advise foreign companies establishing operations in the U.S. TPC will be the sole provider of tax compliance and consulting services to clients of Corporate US Bound.
For the 60-day period between August 17, 2017 – October 17, 2017, select states are offering tax debt forgiveness to eligible taxpayers who voluntarily come forward and agree to begin collecting sales/use tax no later than December 1, 2017 and income/franchise tax starting with the 2017 tax year.
The resolution includes reconciliation instructions for the Ways & Means Committee to report a comprehensive tax reform bill and a broad policy statement on tax reform calling for simplification, lower marginal rates for individuals and corporations, consolidation of tax brackets, repeal of the AMT, and a transition to a more competitive system of international taxation.
On July 6, 2017, Illinois Senate Bill 9 (SB 9) was enacted, rewriting the state’s unclaimed property statutes. Originally SB 9 was focused on funding the state’s 2017-2018 Fiscal Year Budget. However, several days before it was up for a vote, Illinois House Amendment No. 3 expanded the bill by adding Illinois’ Revised Uniform Unclaimed Property Act (RUUPA) and repealing Illinois’ existing Uniform Disposition of Unclaimed Property Act. The language in RUUPA that was included in SB 9 is similar
Cost control initiatives and a general rebound within the energy industry has led to a significant uptick in M&A activity. This uptick in M&A has also increased the potential risk of these companies inadvertently acquiring significantly aged unclaimed property.