In House: Corporate Accounting & Tax Archives
In House - The FindLaw Corporate Counsel Blog

Recently in Corporate Accounting & Tax Category

Tax day has come and gone. But that doesn't mean in-house counsel can stop worrying about the IRS. Helping to keep the company on the right side of the tax code, while helping minimize its tax burden, is a year-round job.

To help you out, here are our five top tax tips for in-house counsel, from FindLaw's archives.

Important Affordable Care Act employer deadlines are fast approaching. With those deadlines comes the threat of significant penalties, should required information be improperly filed, or not filed at all.

If your company is an "applicable large employer," and odds are it is, you've got some work to do. Thankfully, you don't have to do it all alone. A new special report from Thomson Reuters Checkpoint can get you up to speed with employer information reporting requirements. (Disclosure: Thomson Reuters is FindLaw's parent company.)

In-House Lawyers: Deduct Your Travel Expenses

Few people like to do their taxes, and as a consequence they'll try to blaze through the tax-paying process as fast as possible. But if you're an in-house lawyer, that's greenbacks left in the hands of the IRS. And as much as people hate doing their taxes, they should hate letting the government keep their dollars.

One of the most common deductions taken are travel related. Here are a few IRS tips that will help you reduce your company's tax liability this season.

IRS Has a New Program to Help Employers Stay on Top of Payroll Taxes

Few people or companies jump at the chance to interact with the IRS. But the latest initiative by the tax-levying agency actually sounds like it has some promise.

On December 8, the IRS announced the launch of Early Interaction Initiative, a program designed to notify employers who may be falling behind on payments of their employment taxes.

Maybe you heard the news yesterday. Yahoo, one of the world's largest Internet companies, announced that it will be spinning off its core businesses in order to hang on to its $32 billion stake in Alibaba, the massive Chinese e-commerce company. The decision is the exact opposite of the plan proposed by Yahoo CEO Marissa Mayer almost a year ago.

Why is Yahoo ditching its main businesses in order to retain Alibaba stock? What caused the unexpected about face? The IRS, of course.

Ireland Closes One Loophole for U.S. Companies, Opens Another

It looks like Ireland's recent closing of a popular tax-loophole that drew mega-corporations to Irish shores like flies to a honey-pot isn't entirely what it first seemed.

Chris O'Leary, lord mayor of the quiet town of Cork, isn't keen on seeing American companies leave in the wake of the closing of Irish tax-loopholes, but he maintains confident that "companies aren't just coming for the corporate tax rate." But a recent push to sweeten the deal for patent-heavy industries is nice to have as insurance.

SEC Announces $325,000 Whistleblowing Award

The SEC just announced a $325,000 award given to a former investment firm employee who blew the whistle to the SEC with specific information that allowed the federal agency to begin an investigation that later uncovered extensive fraudulent activity at the tipster's ex-employer.

Merger of Viagra Maker and Allergan Could Be Biggest of 2015

Share prices of Allergan exploded out of the opening bell and topped out with an almost 8 percent gain over the stock's closing. It's been a good several trading days for the Ireland-based pharmaceutical company.

The lastest jump in prices has been attributed to "preliminary friendly discussions" regarding Pfizer's proposed takeover of Allergan. If the deal goes through, it stands poised to be largest takeover deal of 2015.

In-House Salary Trends Remain Stable

According to a report composed of data compiled by Major, Lindsey & Africa Consultants, in-house lawyers enjoyed relatively stable incomes from 2014 to 2015. But Miriam Frank, Vice President of MLA, cautioned that the numbers may mislead because some compensation is classified as an equity, not compensation.

Get ready to do some math, in-house counsel, or at least to call up the accounting department. The Securities and Exchange Commission has finally adopted a CEO pay ratio disclosure rule, five years after Dodd-Frank imposed the disclosure mandate.

The new executive pay ratio rule is complicated and, for some companies, sure to be embarrassing. But, the SEC promises, it will help shareholders have a "say on pay" and might delay -- or ignite -- the coming income inequality-inspired revolution everyone from Thomas Piketty to billionaire hedge fund managers are warning about. Here's what in-house counsel need to know.