TPC Tax Insights

Many states have adopted elective Passthrough Entity (PTE) regimes as a way for partners to receive the benefit of deducting state and local income tax indirectly through their pass-through entity interest(s). Mark Johnson, Senior Manager in our Chicago office, explains the origin and effects of states’ passthrough entity taxes on individuals. Associate Producer: Anthony Bielby 

Although the calendar still says its Summer, now's the time to prepare for your company's Fall unclaimed property (UP) compliance filings. Angelica Herrera, Senior Manager in our Unclaimed Property practice, shares helpful tips and reminders for holders as we approach the Fall UP filing season. Download a list of these tips. 

In this episode Kristin Mauer shares the mic with the leaders of our national TPaC Practice, which stands for Technology, Process and Controls. John Bennecke, Jim Hedderman and Anli Chen share their thoughts on how viewing these three critical functions together enables tax departments to more easily implement automation solutions, reduce tax risk and increase efficiencies. This episode is a MUST LISTEN for corporate tax department professionals!

One of the biggest corporate buzz words to come out of the COVID19 pandemic is ESG: Environmental Social Governance. Tax is often used as a lever to drive (and fund) economic and policy change, and a company's decisions around tax engagement, tax incentives and tax disclosures have implications for its ESG strategies. Ryan, Kirk and Kristin discuss why companies are giving more attention to ESG & more importantly, why they should enlist the tax department to help design their ESG strategy.

On Thursday, February 17, 2022, California Assembly Bill 2280 (“CA AB 2280”) was introduced, which if enacted would finally create a long-awaited opportunity for holders of unclaimed property reportable to the State of California to report the property without the mandatory interest assessment. Steven Swaigenbaum, Managing Director in our Unclaimed Property practice, explains (in only 8 minutes!) how this proposed legislation may create an opportunity for your company. Tune in! Associate Producer: Anthony Bielby

Join Host Kristin Mauer and guest Anthony Bielby, Manager in our UP Advisory Group, for a short update on the trends in UP litigation and how they may affect your company this year.

In a game of “got you,” states across the U.S. are looking to increase companies’ unclaimed property filings, also known as escheat reporting. The COVID19 pandemic reduced tax revenues for many states so they’ve renewed their focus on unclaimed property compliance in order to make up the shortfalls. Troy Wangen, UP Managing Director in our Chicago office and Matthew Chenowth, UP Director in our Los Angeles office, share their advice for companies who find themselves in the “got you” game of unclaimed property reporting. Associate Producer and Editor: Anthony Bielby

In this episode Host Kristin Mauer takes a deeper dive into calculating foreign or Non-U.S. tax expense with Long Island Director Dave Flores. For large global corporations with many foreign entities, estimating non-U.S. tax expense can be daunting and time consuming. Dave advises listeners to “tax sensitize” the general ledger in order to accurately reflect non-U.S. tax expense on your financial statements. Associate Producer and Editor: Anthony Bielby

If you’re looking for an informed, thoughtful discussion on international tax policy, this episode is for you. We are lucky to have two experienced experts, Linda Pfatteicher, Partner at Dentons in San Francisco and Michael Chen, West Coast Regional Managing Director at True Partners Consulting, share their thoughts on the volatile state of tax policy, the proposed changes to the international tax rules and what it all means for U.S. and non-U.S. multinational corporations. Don’t miss this one! Associate Producer and Editor: Anthony Bielby

Join host Kristin Mauer as she chats with two more awesome women at TPC, both from our Unclaimed Property group: Cathleen Bucholtz, Managing Director and National Service Line Leader and Michelle Moloian, Director of UP Compliance. Together they’ll outline the Ten Best Practices for Unclaimed Property Compliance. Don’t miss this episode! Download our list of the Ten Best Practices for Unclaimed Property Compliance. 

Are you currently investing, considering investing, or is your company investing in Cryptocurrency or Bitcoin? Is having Cryptocurrency on your balance sheet a good idea? How is the IRS taxing this fairly new currency product and how will they treat it in the future? In this Episode of TPC Tax Insights, TPC Managing Director Sonali Fournier teams up with Natalia Operti, Partner at RLVT, TPC’s Italian affiliate partner, to share insights about the tax treatment of digital currencies in the U.S. and other countries. This is a super interesting discussion – don’t miss it! Associate Producer and Editor: Anthony Bielby

Estimation is a routine part of any UP audit conducted by a Holder's state of domicile, but it’s critical to ensure that the methods for arriving at the estimation are fair and unbiased. In order to get a better understanding of how estimations work, and what to be on the lookout for, host Kristin Mauer chatted with Tom Ross, Senior Manager and Quantitative Analyst in our Unclaimed Property group. His analytic reviews of auditors' liability assessment methods have supported corrections and refinements in those methods, resulting in material reductions of Holders' UP liability exposure, resulting in millions of dollars of savings to holders. Tom is also a super interesting and fun guy to talk to, so listen now! Associate Producer and Editor: Anthony Bielby

Are you considering a career shift? If so, this episode is for you. Victor Polanco, Managing Director in TPC’s Chicago office, helped build our firm from the ground up. After spending many years in industry, he felt the need to make a career pivot and joined the management team of a professional services start-up. Utilizing his entrepreneurial DNA (both of his parents were entrepreneurs), a strong suite of corporate management skills and the desire to build something bigger than himself, he helped lay the foundation and grow TPC to nine offices and 200 people nationwide. And he’s not even an accountant! In this episode Victor advises listeners to 1. Define your destination, 2. Create psychological space/distance and 3. Be who you say you are, in order to achieve career fulfillment. Associate Producer and Editor: Anthony Bielby

U.S. Multinationals Listen Up! We are honored to welcome Eric Ryan to the TPC Tax Insights podcast. Eric is a tax attorney, professor and the former Head of Tax at Apple Computer. He joins host Kristin Mauer to discuss international tax structuring, like Apple’s famous “double irish,” and to break down the changes proposed by the Biden Administration. What tax planning opportunities can companies take advantage of in the near future and can we expect to see more countries adopt the Digital Service Tax? If you have operations outside of the U.S. you don’t want to miss this episode! Associate Producer and Editor: Anthony Bielby

It’s never good to hear “pencils down on all deals!” But that’s what Mike heard in March 2020 from our private equity clients, as they navigated a never-before experienced threat to M&A transactions. The pandemic shook the world, businesses and halted the deal market and transaction activity. 2020 left buyers wondering how they would accomplish acquisition and expansion plans. Could they continue to grow through acquisition? What are the tax considerations for companies buying and selling? TPC's Mike DeRose, Senior Manager in our Transaction Services group, joins our podcast to share how transactions were affected by COVID, how the deal market is rebounding, and what he expects to see this year and next. Pick those pencils back up – you don’t want to miss anything in this episode! Associate Producer and Editor: Anthony Bielby

What types of companies are at risk for an unclaimed property audit? How can companies reduce their risk? And what is the deal with Delaware? Jim Sadik, Managing Director in TPC’s Unclaimed Property practice answers these questions and more in this episode of TPC Tax Insights hosted by Kristin Mauer. Associate Producer and Editor: Anthony Bielby

Is your tax department optimized? The need for tax departments to move from independent compliance hubs to strategic, optimized business partners is becoming essential. In this episode host Kristin Mauer chats with Regional Managing Director John Bennecke as he advises tax departments to pause and assess their department structure around People, Process and Technology. Don’t know where to begin? Take our Tax Maturity Self Assessment.  Associate Producer and Editor: Anthony Bielby

Tax professionals were challenged by talent shortages and TCJA even before COVID drove them out of the office. Now, remote work has required process changes and increased the need for technology solutions in order to successfully meet deadlines and keep information secure. Lauren Ansley, Director in our Atlanta office and Jen Crawford, Director in our Tampa office, share advice for tax departments of all sizes and stages of maturity related to: Identifying your areas of highest risk Correctly and successfully scaling solutions to address those areas, and The need for documentation and communication throughout the organization. Don't feel overwhelmed – both Lauren and Jen advise to “start small” and “make continued improvements over time.” Sounds like great advice… Associate Producer and Editor: Anthony Bielby

According to Eric Grasso and Kristin Mauer, remote work is here to stay for three reasons: 1. A larger talent pool to pull from, 2. Flexibility for employees and 3. Cost Savings to employers. Listen to this episode focused on how the pandemic has changed the tax professional recruiting market as well as how tax teams are getting important work done – outside of the office. Subscribe wherever you listen to podcasts. Associate Producer and Editor: Anthony Bielby

Are you a new grad looking to begin a career in public accounting or corporate tax? Are you an experienced accountant looking to grow your career as a tax professional? If so, we have a treat for you! In this episode of TPC Tax Insights, Cary McMillan, Chairman Emeritus at True Partners Consulting provides sound career advice for those navigating the tax and accounting job markets today. Cary was one of our founders, served as CEO for 15 years and is a passionate mentor for accounting majors at his alma mater, The University of Illinois at Urbana-Champaign. He provides an interesting perspective as a non-tax professional overseeing the tax function at Sara Lee and True Partners. Be sure to subscribe to our podcast to be notified when new episodes are available. Associate Producer and Editor: Anthony Bielby

Have you begun working a state that is different than your assigned “work” office or will you begin doing so soon?  Host Kristin Mauer discusses some of the significant state income tax implications to the US remote or teleworking employee with Ron Tambasco, Managing Director – State and Local Tax.  The issues discussed include: individual income taxation of a remote workforce, individual income tax credits for taxes paid in another state, COVID relief statutes, “convenience of the employer” rules, dual residency issues, reciprocal agreements and new legislation considerations. Subscribe and get notified of new episodes. Associate Producer and Editor: Anthony Bielby

Is your company anticipating an impact from President Elect Biden's proposed tax policy changes? Is your tax department tracking TCJA sunset provisions and planning for ways to reduce your 2020 ETR and cash tax?  In this episode, Bernadette McConie, Managing Director – Federal Tax shares helpful tax tips for Corporations as we head into a new administration. Associate Producer and Editor: Anthony Bielby

Tax technology platforms have evolved beyond basic calculations and become vital process engines to complete annual filings, document reviews, identify properly designed and effective controls, and aid in subjective analyses. Listen as our Tax Technology Lead Anli Chen describes how technology is transforming today’s tax departments.

Does working from home cause your company to have “nexus” in states you might not have considered before? What tax issues do you need to think about with a remote workforce? Kristina Stibrich, State and Local Tax Managing Director at True Partners Consulting shares state tax considerations for remote workforce implementation with host Kristin Mauer, in our very first episode - enjoy!