Tax information for
* S Corp filers.
* Corporate givers.
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
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.
Know that your CbC Report is shared with Argentina’s Tax Authority.
These governments — so “curious” aren’t they? 🙂
Thanks for visiting.