- With the Foreign Account Tax Compliance Act (FATCA) now in full swing, both US and foreign taxpayers are being asked about their FATCA status. Foreign financial institutions (FFIs) generally have to comply with the withholding, reporting, and due diligence requirements of FATCA if they receive US source income.
- Baker Tilly and Winthrop & Weinstine co-hosted a webinar that provided an overview of real estate investment trust (REIT) fundamentals. The REIT framework allows developers a tax-efficient structure that can drive investor value while providing regular income streams.
- Effective July 1, 2015, capital equipment used in Minnesota in the manufacturing process is exempt from sales tax at the time of purchase.
- US Supreme Court announces Affordable Care Act decision that taxpayers who purchase health insurance on a federal healthcare marketplace exchange are entitled to subsidized premium credits.
- The legislative update in Baker Tilly’s 2015 midyear tax letter discusses the status of tax reform, proposed changes to liability allocation rules, and the extender tax provisions.
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