Additional Extension: Work Opportunity Tax Credit

By Aprio Publisher | June 30, 2016

On June 17, 2016, the IRS issued Notice 2016-40, which extends the transition relief period for employers claiming the Work Opportunity Tax Credit (WOTC) for new qualifying employees until September 28, 2016. Specifically, the notice grants an extension of time to submit Form 8850, Pre-Screening Notice and Certification Request to the Designated Local Agency to certify…

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Brexit and Your Taxes

By Aprio Publisher | June 28, 2016

By Mitchell Kopelman, partner-in-charge, Tax practice, Technology and Biosciences group As a result of the voters in the UK deciding to leave the European Union (EU), there are many financial and tax matters which should be considered. These matters cross all financial lines. Below, we have summarized some of the questions you should be considering…

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From the GSA Trenches: Schedule Sales Reporting Issues

By Aprio Publisher | June 9, 2016

Contractors holding GSA Multiple Award Schedule (MAS) contracts are required to report quarterly all contract sales, and remit 0.75 percent of sales back to GSA as an Industrial Funding Fee (IFF). The 0.75 percent IFF is added on top of negotiated contract prices, so that the ordering customers actually pay the fee and the contractor…

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“Flexible” South Carolina Ruling Creates Sourcing Uncertainties

By Aprio Publisher | June 6, 2016
South carolina state line sign

On May 20, 2016, an Administrative Law Court decision in South Carolina resulted in the two things that taxpayers try to avoid: uncertainty and penalties. Dish DBS Corp. v. South Carolina Department of Revenue, S.C. Admin. Law Court, No. 14-ALJ-17-0285-cc (5/20/16). It’s hard enough to advise taxpayers on the differences between states that apply a costs-of-performance…

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