True Partners Insights

Unclaimed property audits have historically been difficult, time-consuming and costly for most companies.  For companies currently under audit by the State of Delaware, the recent changes to Delaware’s unclaimed property statutes enacted by Delaware Senate Bill 13 have led to additional confusion, as companies try to determine their best choice in light of new options – enter into an Expedited Audit with the Department of Finance, or convert their audit […]

Join Managing Director Jim Hedderman at the Chicago Tax Club Summer Seminar, June 29, at the Saddle & Cycle Club, 900 West Foster Avenue, Chicago, IL. 8:00a.m. – 9:15 a.m. – CONCURRENT SESSION 1 FEDERAL TAX Topic: Uncertain Tax Positions – Are you certain about your calculation and disclosures? Certainly you are. Description: Have you completed analysis to conclude whether you need to book an Uncertain Tax Position reserve on your […]

From mnetax.com: mnetax.com/us-final-debt-equity-regulations-17893  by Robert M. Gordon & Jennifer Crawford On October 13 the US Treasury Department released final debt-equity regulations to address “earnings stripping” and deter multinationals from shifting income out of the United States to lower-tax jurisdictions. The impact of these new rules on MNEs with operations in the United States will be significant and companies should develop plans to ensure both tax and financial reporting compliance. Background In […]

At a time when more and more businesses are relying on cloud computing to satisfy their software needs, it is imperative that companies get a firmer grasp on changes in cloud computing that could impact their businesses. What is the Chicago Lease Transaction Tax? The Chicago lease transaction tax imposes a levy on customers who lease personal property in the city or who use, within the city, personal property that […]

21 States Challenge Delaware On June 9, 2016, Texas Attorney General Ken Paxton announced that he would file a lawsuit on behalf of 21 states before the U.S. Supreme Court, seeking more than $150 million from Delaware. The lawsuit claims that Delaware is holding uncashed MoneyGram Official Checks (“Official Checks”) that should have been reported to the state where the Official Check was issued, and not Delaware, MoneyGram’s state of […]