True Partners Insights

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Avoiding Anti-Churning Traps

True Partners can help you uncover unexpected tax traps and catastrophes that can be lurking within an acquisition. One of the more insidious and elusive issues that we often catch is anti-churning. What exactly is anti-churning? Prior to August 10, 1993, goodwill and going concern value were treated as non-identifiable, non-amortizable intangible assets, and as such, couldn’t be amortized for tax purposes after an acquisition. The argument between identifiable, amortizable […]

July 31, 2019

Washington Tax Insight July 2019

Politics and Congressional Activity H0use and Senate leadership continue to meet with White House officials in an effort to work out a two-year budget deal that would also address the issue of the debt ceiling limit.  If they can successfully agree on a two-year deal rather than just a one-year measure, the path to writing spending bills and avoiding another government shutdown becomes clearer. Congress passed a $19 billion disaster […]

July 16, 2019

Pete Antonopoulos Moderates Federal Tax Session at the Chicago Tax Club Summer Seminar

Chicago Tax Club Summer Seminar June 27, 2019 Saddle & Cycle Club, 900 West Foster Avenue Chicago, IL Federal Tax Concurrent Session 8:00 – 9:15am Have you wondered what the tax treatment is related to transaction costs when you acquire an entity? Have you thought about what the potential tax impact of IRS Notice 2018-99 is to your Company related to qualified parking expense fringe benefits? The tax rules can […]

June 24, 2019

Jennifer Crawford of TPC Tax Risk and Internal Controls – Protiviti CPE Day Session Recap

Lauren Ansley & I recently had the opportunity to present at Protiviti’s 2019 CPE Day in Tampa, FL.  Once again, Protiviti put on a strong program covering a wide range of topics including finance transformation, insights from board of directors, cyber security, as well as our session on tax risk and internal controls. The attendees included finance, accounting and tax professionals  from all different industries. With tax legislation, particularly related […]

June 19, 2019

TEI New England Chapter CTO Networking Breakfast Meeting, August 7, 2019

Topic: Process and Resource Optimization – Keeping Pace in a Changing World The Westin Waltham Boston 70 Third Avenue Waltham, Massachusetts 02451 August 7, 2019 7:00 – 9:00am Who should attend: CTOs, Tax Directors, Heads of Tax and others who play a lead role in their departments’ tax processes and internal controls. REGISTER HERE Your external auditors continue to scrutinize the numbers and the internal control processes behind the numbers. It’s […]

June 14, 2019

Nevada Unclaimed Property Act Revised

On June 7, 2019 Nevada governor Gary Herbert signed 2019 NV S.B. 44 into law.  The new law revises Nevada’s Uniform Unclaimed Property Act (Nevada UP Act) to reflect changes adopted by the Uniform Law Commission in the 2016 Revised Uniform Unclaimed Property Act (RUUPA).  The new legislation’s provisions include the following changes: The definitions of “payroll card” and “stored-value card” were added to the Nevada UP Act. The definition […]

June 13, 2019