Category

Tax

Accounting & DisclosureCryptoTax
July 27, 2023

Clearing the Crypto Fog: Experts Offer Clarity on Tax Questions

TaxBit joined NeuGroup’s digital assets peer group to make sense of crypto tax and accounting issues. A revised cryptocurrency bill proposed by US Sens. Cynthia Lummis and Kirsten Gillibrand last week would provide much-needed clarity on issues including definitions for stablecoins, decentralized finance and—crucially—brokers. The bill joins proposals from the IRS, FASB and the Financial Stability Board, and yet-to-be-implemented standards from the Bank for International Settlements. However, at last month’s meeting of NeuGroup for Digital Assets, members shared that, despite a great deal of proposed crypto regulation, a lack…
Justin Jones
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Talking ShopTax
July 27, 2023

Talking Shop: Tax Withholding Methods for Restricted Stock Units

Editor’s note: NeuGroup’s online communities provide members a forum to pose questions and give answers. Talking Shop shares valuable insights from these exchanges, anonymously. Send us your responses: [email protected]. Context: Restricted stock units (RSUs) are a form of equity-based incentive compensation awarded to employees. They allow corporates to delay dilution caused by issuing stock until a vesting period is complete, often linked to the employee’s performance or their time at the company. Like with other forms of compensation, RSUs require the employer…
Justin Jones
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Cash & Working CapitalTalking ShopTax
February 25, 2021

Talking Shop: Allowing Direct Debits for Payroll Tax

Member question: “For those of you who use ADP for payroll in the US, do you allow them to do direct debits on your bank accounts, specifically for payroll tax payments?” Peer answer 1: “We just converted to direct debit with ADP in the US. Happy to put you in touch with the team that evaluated and executed the project.” Peer answer 2: “We allow direct debits for both payroll and payroll tax. We fund to a separate, stand-alone payroll bank account that is…
Justin Jones
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Capital MarketsTax
February 16, 2021

Biden Tax Priorities May Fuel Shifts in Corporate Capital Structure

The effects of raising the corporate income tax rate and setting a global minimum tax on book income. Treasury and tax teams trying to plan for potential changes to US corporate tax policy will be looking for more clarity when President Biden addresses a joint session of Congress in one week, on Feb. 23. For a look at what corporates should have on the radar screen, NeuGroup Insights reached out to Justin Weiss, a partner in KPMG’s Washington national tax financial…
Justin Jones
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Talking ShopTaxTechnology
February 16, 2021

Talking Shop: Looking for Solutions To Optimize Global Tax Payments

Member question: “We are working to centralize and optimize global statutory and tax payments. What kind of solutions do you have in place?“Entities will have unique tax restrictions, so we will need various solutions depending on the region and country. We’re hoping to understand what kind of solutions you may have uncovered or already have in place. “Does your company have a centralized process for managing global tax payments?“What types of applications or payment types are used for processing tax…
Justin Jones
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Capital MarketsRisk ManagementTax
February 9, 2021

Buzzer Beater: A Treasurer’s Last-Second Debt Deal Scores Big Savings

One member cut his company’s tax bill by beating the clock to complete a debt refinancing.  As one NeuGroup member’s fiscal year began to draw to a close, he saw an opportunity to save his company millions of dollars in taxes by completing a debt refinancing deal—but he had to race the clock get it done before the calendar changed. Because of the pandemic’s impact, the company needed to save money, so it was critical that the debt deal go…
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TaxTreasury Management
January 19, 2021

Learning New Strokes: A Treasurer Adds Tax to Her Skill Set

One NeuGroup member has “had to learn from doing” to tackle tax—and also tap internal and external experts.When the head of tax at a midsized multinational company left to take another job a couple of years ago, the CFO tapped the treasurer to run tax, too. The treasurer shared some of the challenges she faced and how she addressed them at a recent meeting of the Treasurers’ Group of Thirty and in a follow-up interview.A difficult beginning. Three of four…
Justin Jones
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TaxTreasury Management
January 7, 2021

Learning a New Language: Tax Experts Who Become Treasurers

Insights and advice from a tax professional who left her comfort zone to become treasurer. A “steep learning curve” is how one member of NeuGroup’s Treasurers’ Group of Thirty (T30) who has extensive experience in tax described what she encountered in taking on the added responsibility of treasury at her company at a recent meeting sponsored by Standard Chartered. She is one of several members in the group who previously led tax teams and are relatively new to leading treasury. Below…
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Cash & Working CapitalComplianceTax
October 22, 2020

Cash Pooling: What Treasury Teams at Multinationals Need to Know Now

An update of a story—one of NeuGroup’s most-read articles—about physical and notional cash pooling. By Susan A. Hillman, Partner, Treasury Alliance Group LLC Eight months into the global pandemic, liquidity and cash remain top-of-mind for many multinational corporations coping with uncertainty over the shape and timing of economic recovery. That makes this an opportune time to reexamine a critical liquidity management tool that has been around for decades but has always required careful evaluation before implementation: cash pooling. Further due…
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COVID-19TaxTreasury Management
September 10, 2020

Auditors Eye Risks of Not Knowing Where Remote Workers Call Home

Employees who move to other states or countries raise tax issues, and others, for employers. Everyone knows that millions of people are still working from home (WFH). But not every employer knows exactly where every employee is working—a potential headache discussed by members of NeuGroup’s Internal Auditors’ Peer Group (IAPG) at a recent virtual meeting. “We’re super worried about it,” said one auditor about the various tax, legal and compensation issues WFH can raise for corporates.It is critical that employers…
Justin Jones
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