Tax Talk

Tax information for
* S Corp filers.
* Corporate givers.
* MNEs

First, you the S Corp filers
IRS has released the 2020 Form 1120-S
Changes include the payroll tax credit.
Make sure to claim it — if you qualify for the credit, of course.
(A portion of it may be refundable.)

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Reminder for the corporate givers:
February 25th is the deadline for your “qualified disaster relief contributions.”
Charitable contributions deductible up to 100% of taxable income.
(Previously capped at 10%)

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What’s new for MNEs
(Multinational enterprises)

US and Argentina signed an agreement to share information on MNEs
Areas of interest include high-level transfer pricing.
The agreement takes effect beginning with the FY 2018.

What does it mean for you, the US parent of an MNE?
It means that you continue reporting to the IRS on Form 8975.
AND
Know that your CbC Report is shared with Argentina’s Tax Authority.

These governments — so “curious” aren’t they? 🙂

Mariana Fieraru

Mariana Fieraru, an Eastern European transplant, fell in love with her new home shortly after landing in New York. She "discovered" pizza! Years later she still loves pizza. And so do her two feathered-kids, Sunny and Flipper

Mariana worked on both, the east and the west coast.
Big or small, each project she worked on helped define the importance of gaining and sustaining a competitive edge in an increasingly complex business environment.

Business know-how, love of teaching and writing – all combined in 2006 to form OBI.
Its mission: to make learning fun! And easy.

Through its training, consulting, and publications OBI builds bridges of knowledge to take you from where you are to
where you want to go. Using a mix of serious, informal, analytical, and optimistic approach, OBI truly makes learning fun.

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