How to Cut Duty Cost and Increase Profit as an Importer

Import duties continue to be significant elements in the cost of international trade. Yet many companies and businesses still pay more duties than the law requires ? which impacts adversely on landed cost and ultimately on business profitability. A planned approach to managing customs duty costs would look to eliminate, reduce and delay payment of customs duties.

How to reduce customs duties in your business

There are many ways to reduce customs duties. The amount of duties paid depends on four "whats". Managing the impact of any of these "whats", will improve business profit.

1 What the goods are, (i.e. their nature and characteristics) determines tariff code and therefore the duty rate

2 What the origin of the goods is, (i.e. where dug up, grown, farmed, further manufactured or processed NOT just shipped from) determines whether preferential, standard or additional duties are payable

3 What the structure of the transaction is (i.e. whether sale, leased, loaned, free of charge, under warranty or repair arrangement), determines customs value

4 What happens to the goods once imported (i.e. sold, further manufactured, repaired and returned, stored and re-exported) determines whether various reliefs are available.

How to use a key opportunity in customs valuation planning

A major under utilised approach to reducing duties is to look at the customs valuation. A key provision in both US and EU customs law permits the customs value to be based on any earlier sale of the same goods in a chain of transactions prior to importation. For this reason it is variously described as the "prior sale", "earlier sale" or "chain of sales" opportunity. They all mean the same thing, i.e. lower duty!

How does this work? For example, if goods are sold by a manufacturer in the US for $60 to a US export company which, in turn, sells them to an importer in the EU for $100, duty can be paid on a value of $60, providing certain conditions are met. The savings achieved are the difference between duty on the £100 and the duty on $60. Savings of up to 40% on the duty costs are possible.

What are the benefits? The chief benefit of the approach is to save customs duty by excluding the costs and profits attributable to the non-manufacturing activities undertaken in the country of export from the customs value declared at import in the destination country (US or EU).

The approach also uncouples the value of the imported goods for customs valuation purposes from their inventory value for corporate income tax purposes. That's good because tax and customs values are often in tension. Tax authorities tend to favour a low import value (i.e. more profit to tax), whereas customs favour a higher import value (more import duty to collect.) Using an earlier sale approach, the price paid by the importer is no longer relevant for customs purposes, so that any increase in that price will not cause an increase in the amount of customs duty.

Who can benefit? Any company or business importing goods into the EU or US can benefit from the opportunity providing there has been an earlier sale and the exporter is willing to provide the relevant invoice relating to the earlier sale. Since this involves disclosure of margins by the exporter, the approach is more attractive to international groups of companies where such disclosure is not an issue and to industries where margins are already widely known. However, exporters can still realise the benefits by importing goods into the US and EU on their own account.

About The Author

© Philip Brigstock-Bates 2004

Philip Brigstock-Bates manages Tariff AXe Services www.tariffaxe.com providing customs duty compliance and consulting advice to global companies, mid markets and start ups involved who import or use/sell imported goods in their businesses.

Professionally qualified in tax and import fields, he was previously he was with Ernst & Young and PricewaterhouseCoopers advising on duty planning reduction, compliance assurance and risk management for importers.

[email protected]

In The News:

2019 vs. 2018 tax calculator: See how your tax bill will change  CNETIn the shadow of a government shutdown, new laws take effect for the 2018 tax year.
Income Tax: Definition, Brackets and State-By-State Differences  TheStreetThe taxes on the earnings you made over the year are known as income tax. How is it calculated and how much are federal vs. state income taxes?
One GST, nine taxes  BusinessLineAfter the 32nd meeting of the GST Council, the government will find itself in a uncomfortable position to defend the catch-line “One Nation, One Tax” for GST.
Taxes in US Are Low Overall But Not for High Earners  BloombergHigh, progressive income taxes and low consumption taxes add up to a system that generates lots of complaints and not so much revenue.
Government eases process for startups to seek tax exemption on angel fund investments  Economic TimesThe government has eased the procedure for startups to seek income tax exemption on investments from angel funds as part of efforts to address concerns of ...
China to cut taxes, keep policy flexible to counter slowdown  Economic TimesChina plans to slash taxes, step up spending and provide ample financing to private and small enterprises to help counter the country's worst slowdown since ...
MNCs in a fix over ‘dual’ tax notices  Economic TimesThe income tax department has a backup plan if things don't go its way when making a demand on companies — a safety net in the form of protective notices.
Section 80C limit: Should you use only life insurance to save taxes?  Moneycontrol.comIt is not mandatory to save tax 'only via' insurance. Combination of other investment products (PPF, ELSS, etc.) will produce better results for you and your ...
All the Tax Deductions You Can Take for 2018  LifehackerThis tax season promises to be an...interesting one, with the government shutdown and new tax law provisions colliding to create a perfect storm of confusion ...
Will interim Budget 2019 reduce your tax?  Economic TimesRumours are rife that the government will try to woo the middle class with major tax cuts in its last Budget before the polls.
These shutdown hurdles could mess up your tax refund  CNBCYou have two weeks until tax season opens, and the partial federal government shutdown is still ongoing. While the IRS says you will get the refund you're owed ...
How To Save Taxes under Section 80C in 2019?  MoneylifeJanuary is the start of a new calendar year; but for many people, it is also the start of the search for a tax-saving product for the current financial year.
What to know before you take an advance on your tax refund  CNBCFurloughed workers and consumers worried about shutdown-related refund delays may find it more tempting this year to use so-called refund anticipation loans.
Keki Mistry calls for lower taxes to end black money  Economic TimesMUMBAI: There is a need to bring down the tax rates from the current high levels as it will help in improving revenue collection and reduce black money ...
Jared Polis has 208 options to lower your taxes. But it'll be harder than you may think.  The Colorado SunColorado Gov. Jared Polis is promising to lower taxes by slashing as much as $450 million in unspecified corporate tax breaks. But it's not clear how he'll be ...
Chris Hansen owes $250,000 in taxes, $60,000 to American Express and over $1 million for mortgage  Daily MailChris Hansen owes $57931.72 to American Express, $126356.35 to TD Bank, over $15000 to Ally Financial and $1078164.73 to US Bank Trust according to ...
Quick Refunds to Pre-Filled Forms: 2020 Tax Payers Look Out  The Better IndiaIn 2020, the goverment with the help fo tech giant Infosys plans to bring about a series of changes in the manner in which Income Tax returns are filed.
Get income tax refund in one day from 2020  Times NowOnce the new system gets in place, taxpayers will get a pre-filled form in their income tax account with their name, PAN and other details.
Taxman issues prosecution notices to MNCs to meet steep revenue targets  Economic TimesExperts say mechanical approach led to slapping of notices even for small tax issues.
USDA to open offices to help farmers with loans and taxes  WIBWFederal officials say 90 offices will be open in Kansas for three days to process loans and tax information for farmers.
Here is how to maintain tax discipline in the last quarter of the fiscal  Moneycontrol.comDo timely submit the proof of any tax saving investment you have made or deduction you are eligible to, so that excess deduction of taxes doesn't take place.
Budget 2019: Why there is a strong case to lower income tax rates in India  The Financial ExpressOn a practical basis, there are many reasons why there should be further easing of both the income tax rates as well as the exemption limits.
Interim Budget: Will Arun Jaitley tinker with income tax slabs?  Economic TimesWill interim budget 2019 increase the tax-exemption limit? This is the question on many taxpayers' minds. If rumours are to be believed, the interim budget could ...
Ticket tax opponents plan charter amendment, lawsuit to block collection  The Columbus DispatchOpponents of the 5 percent ticket taxes that Columbus adopted in December are pursuing a city charter amendment to prevent the city from levying them, and ...
Assembly Republicans offer deal on $340M income tax cut; Gov. Evers says it won’t work  WITI FOX 6 MilwaukeeSUSSEX — Republicans in the Wisconsin Assembly unveiled a plan on Thursday, Jan. 17 to cut middle-class income taxes. Governor Tony Evers campaigned ...
Alexandria Ocasio-Cortez has kick-started the Democratic tax debate with her 70% marginal rate idea  CNBCAfter three decades with top rates below 40 percent, a big hike from today's 37 percent poses risks politically and perhaps economically.
Why all presidential nominees should release their tax returns | TheHill  The HillCongress has the authority to request a president's tax returns, however, the Presidential Tax Transparency Act is critical to ensure that all future presidential ...
64K Virginians lose pay during shutdown, state loses taxes  WHSVVirginia's secretary of finance says the partial government shutdown has cut off pay for more than 64000 state residents, and could squeeze benefits programs.
Income Tax return processing time to reduce from 63 days to just 1 day  Business StandardThe Union Cabinet on Wednesday approved an integrated income-tax e-filing and centralised processing centre (CPC) portal, which will reduce the return ...
Assessment order passed on taxes of Rahul, Sonia but not given effect, I-T informs SC  Economic TimesThe Income Tax department informed the Supreme Court Tuesday that an assessment order (AO) with respect to the tax of top Congress leaders Rahul Gandhi ...
BRODBECK: Climate adaptation, not carbon taxes should be focus of debate  Winnipeg SunThe Insurance Bureau of Canada wants to start a conversation about the effects of climate change that has nothing to do with charging Canadians a carbon tax.
China doubles down on tax cuts in race to halt economy's slide  Nikkei Asian ReviewBEIJING -- China is sticking with a large-scale tax cut strategy deployed last year to keep the economy humming, adding to the 1.3 trillion yuan ($192.
Estimated taxes are due Jan. 15 and you don't get a reprieve despite the shutdown  CNBCIf you owe estimated quarterly taxes, your next payment is due by Jan. 15. And no, the government shutdown won't give you a reprieve.
The 70 Percent Solution: What Are Taxes For?  BloombergAt the very least, Alexandria Ocasio-Cortez has started a debate over what a better system might look like.
South Florida Mansion Sales Surge as Tax Exiles Seek Savings  BloombergQuint(Bloomberg) -- For Bloomington, Illinois executive Jim Morris, President Donald Trump's federal tax bill brought to mind beaches, palm trees and the perfect $10 ...
Saving income tax: 'Focus on choosing the right product; NPS a good long-term bet'  Moneycontrol.comNPS is a great long-term product that offers lots of flexibility to invest in multiple assets, with low charges.
From sliced bagels to cess on cow welfare: Unusual taxes people pay around the world  Moneycontrol.comIn Switzerland, those who wish to get a pet need to pay taxes, which has to be paid annually and varies in each municipality.
The 27 US states where millionaires face the highest taxes  Business InsiderHow much state income tax you owe varies by state. Using the Tax Foundation, we found the states where millionaires face the highest taxes.
Budget in a minute: The different types of taxes that earn government revenue  Moneycontrol.comThe government's primary sources of revenue are direct and indirect taxes. In the run-up to Budget 2019, Gaurav Choudhury, Deputy Executive Editor at ...
Withheld too little tax in 2018? The IRS might give you a pass on penalties  CNBCIf you failed to withhold sufficient taxes from your pay in 2018, the IRS might grant you some forgiveness. The tax agency said on Wednesday it would waive the ...
Federal shutdown means tax refunds may be delayed  CNBCAccountants are worrying about the prospect of an extended federal shutdown as tax season approaches. That means there's a possibility that tax refunds may ...
9 Tax Credits You Need to Know  Motley FoolHere are the must-know details behind nine of the most popular tax credits available in the United States.
Multinational corporations asked to pay 15% higher tax on ad spend  Economic TimesThe tax department has increased demand on advertising, marketing and sales promotion (AMP) expenses of multinationals by about 15%, said people with ...
Alexandria Ocasio-Cortez has a plan to tax the wealthiest Americans 60% to 70%, and it highlights a detail about taxes most people get wrong  Business InsiderAlexandria Ocasio-Cortez's plan to tax the richest Americans offers a prime example of how the progressive tax system works in the US.
Why you could pay more in income taxes and for shopping online in 2019  AZCentralState legislatures might try to tax more items this year, from sports betting to marijuana. Here are some current trends.
America is discussing raising taxes for the rich. Should India consider this too?  Scroll.inIndia's direct tax collections and tax to GDP ratio are significantly lower than those of other large economies.
SBI Tax Saving Scheme: How to invest, how much you may invest and save in taxes  The Financial ExpressLooking for investment instruments to save tax? Check out how SBI's tax saving scheme can help you.
Should I invest in NPS to save more taxes?  Economic TimesI have already invested in LIC and other tax saving schemes under Section 80C. I have two ELSS investments as well. I wanted to know if I should also invest in ...
Rourkela residents oppose holding tax hike  Odisha Television Ltd.Residents of the steel city are a distraught lot after the Rourkela Municipal Corporation hiked the holding tax.
White House promises tax refunds will go out, but there's hardly anyone at the IRS to do the work  CNBCA Trump administration official said Monday that federal income tax refunds would indeed go out despite a large part of the government being shut down.
The Democrats’ Latest Idea on Taxes Will Only Help Trump  BloombergA top marginal income tax rate of 70 percent is bad economics and even worse politics.
70% Tax Rate? Another Awful Idea From Congress' Socialist Caucus  Investor's Business Daily70% Tax Rate: A new poll shows that most Americans support the idea of raising the marginal tax rate to 70% or higher on the very highest incomes. It shouldn't ...
What UK Bitcoin Investors Should Know as Tax Deadline Approaches  Bitcoin NewsThe deadline for submitting tax returns in the UK is Jan. 31, 2019. If you hold investments in bitcoin or any other cryptocurrency it is important to be The deadline ...
Tax Cut Is Better (for Companies) and Worse (for Everyone Else)  BloombergPresident Donald Trump and the Republicans' tax cut is proving to be vastly more generous for corporate America, and vastly more expensive for taxpayers, ...
For Tax Purposes, ‘the Rich’ Are People Who Earn More Than You Do  BloombergRecent history shows that when rates go up, more high earners get to be classified as “middle class.”
Pristina press: Taxes could be revoked in coming days  B92Pristina-based Albanian language newspaper Zeri is reporting this on its website on Wednesday, citing a source. This source claims that the government of ...
Budget 2019: Here’s how much income tax relief Modi-Jaitley have given in last 4 years  The Financial ExpressBudget 2019: We take a look at how much of aggregate income tax relief Finance Minister Arun Jaitley has given in the last four years of Narendra Modi's ...
How Have Property Taxes Increased for Foreigners Buying in Israel?  Mansion GlobalEvery week, Mansion Global poses a tax question to real estate tax attorneys. Here is this week's question. Q: I read a recent Mansion Global article that property ...
How much tax you will pay on lottery tickets, these ministers will decide  The Financial ExpressWith an aim to address the disparity on tax structure, a Group of Ministers (GoM) on issues related to lottery has been constituted on Wednesday.
Cryptocurrency and Taxes: How to Use 2018's Losses to Your Advantage  Bitcoin NewsTaxes have been a hot topic in the cryptocurrency world this year. Many countries have been trying to figure out how to tax crypto assets, while traders.
Angel Tax: Government, Babus Not In Sync With India's Start-Up Story, Says R Chandrashekhar  NDTV NewsThe country's tax laws have some of the biggest names in its tech start-ups worried. Rajan Anandan of Google, along with ten other signatories including ...
I-T department wants Kannada film fraternity to pay taxes  The News MinuteThe Income-Tax (I-T) department will soon hold a meeting with the Kannada film industry fraternity on the need for paying taxes and filing returns, a top official ...
Venezuela Decrees Crypto Operators Must Pay Taxes in Cryptocurrencies  Bitcoin NewsThe Venezuelan government has published a decree requiring taxpayers with crypto operations in the country to pay their taxes in cryptocurrencies. Similarly ...
Incentivise, not tax, angel investors: Amitabh Kant  Economic TimesThe government needs to incentivise angel investors eyeing startups and not tax them to give a boost to Prime Minister Narendra Modi's flagship Startup India ...
How to use home loan and rental outgo to save income tax  Moneycontrol.comA taxpayer can claim deduction of the amount paid towards repayment of the home loan from his income. Such loan must have been borrowed from specified ...
Ten years after the last carbon-tax election, Stéphane Dion says it would be a ‘mistake’ to turn back now  The Globe and MailMore than 10 years later, Canadians are facing the prospect of another federal election campaign focused on the merits of a carbon tax. Stéphane Dion, the man ...
Budget 2019: Will FM Jaitley double I-T exemption limit to Rs 5 lakh? Here’s what tax experts say  The Financial ExpressSome industry bodies, including the CII, have recommended that the I-T exemption limit should be doubled to Rs 5 lakh. However, is this possible?
Ficci for cut in corporate tax rate in Budget  Economic TimesNew Delhi: Industry chamber Ficci Sunday recommended the government to cut corporate tax rate across the board to 25 per cent irrespective of turnover in the ...
Denmark's Tax Agency to Collect Information About Bitcoin Traders  Bitcoin NewsDanish tax authorities will soon be going after cryptocurrency traders in the country and beyond. The plan is to collect data from local bitcoin exchanges Danish ...
Premier asks for Quebec to collect taxes on behalf of Ottawa  CTV NewsQuebec has once again asked the federal government to collect federal taxes on its behalf, allowing Quebecers to file a single tax return.
Year 2018 in review: LTCG, changes in direct taxes and a late NPS bonanza  Moneycontrol.comThe standard deduction of Rs.40000 meant that a pensioner who is at the highest tax bracket of 30% would save Rs.12000 of taxes.
Free income tax assistance coming to Las Vegas community centers  News3LVLas Vegas senior and community centers will host free assistance for personal income taxes starting later this month, according to a city spokesman. Volunteers ...
Taxman on a refunds spree as income tax returns hit record high in FY19  Economic TimesNEW DELHI: The current fiscal year is likely to be a watershed for income tax compliance and the tax department is returning the favour with quick refunds.
How taxes, and death, will impact the federal election  Toronto StarBenjamin Franklin was right. Death and taxes are the only certitudes. But in electoral politics it is usually, “Why so much tax and for what!” that drives decisions ...
Tax benefits on education loan: Who can get it, how to avail – All you need to know  The Financial ExpressOver the years education costs have been on the rise, but you can avail income tax benefit under section 80E of the Income Tax Act against such costs.
Inheritance tax: Sharing's easier minus arm-twist  Economic TimesProposals for a higher levy or a new tax on the rich is a vote-winner for any government, denting any image of pandering to crony capitalists. But finance minister ...
40% property owners in Bengaluru don’t pay tax  Times of IndiaBENGALURU: Owners of two out of every five properties in the city continue to avoid paying the stipulated property tax promptly, according to BBMP off.
NPS investment proof: How to claim income tax deduction  LivemintAn NPS subscriber can also download the receipt of voluntary contribution made in Tier I account by logging into his/her account.
Tax Deductions That Went Away This Year  InvestopediaHere are the tax deductions that went away with tax reform.
Rethinking Carbon Taxes  National ReviewFor years, advocates of a carbon tax have insisted that they'd ultimately win over the general public, usually by using carbon tax revenue to offset other taxes or ...
Backlash over homeowners speculation-tax form  Times ColonistThe B.C. NDP is scrambling to respond to backlash over its surprise announcement that all homeowners in B.C.'s urban centres will be treated like speculators ...
Overstock to Pay State Tax in Bitcoin, First U.S. Company to Do So  FortuneOnline retailer Overstock announced it would pay a part of its Ohio state business tax using the famous digital currency.
Income tax changes in 2018: Key things to know  LivemintMumbai: Are you in the highest tax bracket? Well, 2018 wasn't that good a year for you. “How taxes have fared for citizens this year depends a lot on their ...
Miami Woos New York Homebuyers Fleeing Over Tax Law  BloombergBack in the go-go days, Florida real estate executive Daniel de la Vega and his team crisscrossed Latin America wooing clients. These days he's taking ...
These Post Office Saving Schemes Offer Income Tax Benefits  NDTV NewsPost office Saving Scheme: Using these saving schemes, an investor can claim a deduction up to Rs 1.5 lakh in a financial year from taxable income under ...
How to win public support for a global carbon tax  Nature.comSurvey shows charges on emissions could be popular if revenues are given back to citizens, find Stefano Carattini, Steffen Kallbekken and Anton Orlo.
Middle class got ₹2 lakh-crore tax rebate annually during Modi regime, says Jaitley  BusinessLineFinance Minister Arun Jaitley on Friday said the government has given ₹2 lakh-crore tax benefit annually to the middle class without a single tax being raised.
Tax changes in 2018 that have affected your personal finances  Economic TimesHere are some of the important tax changes directly impacting your personal finances that came into effect this year and the dates when they became effective.
Angel tax: double jeopardy, single indemnity?  YourStory.comHow the angel tax may force founders to seek indemnities from investors about the source of their investment.Many a funding round has been delayed, if not ...
IRS confirms tax season will start Jan. 28, despite government shutdown  CNBCThe IRS announced on Monday night that income tax filing season would begin on Jan. 28 and that it would pay refunds to taxpayers, in spite of the government ...
Portland's Land Rush for New 'Opportunity Zone' Tax Breaks  BloombergPortland's entire downtown has been designated as an 'opportunity zone,' qualifying real estate developments there for generous new federal tax incentives.
Tax optimiser: Chandramouli can cut tax by Rs 83,000 via NPS, tax-free perks  Economic TimesBangalore-based IT professional T. Chandramouli pays a very high tax because his pay structure is not very tax friendly. A good 15% of his income goes up in ...
Reliance Retail Q3 pre-tax profit jumps 177% to Rs 1,680 cr  ETRetail.comRevenue for the quarter under review grew by 89 percent year-on-year to Rs 35577 crore from Rs 18798 crore. Healthy festive season sales and new sto..
Tax queries: My wife is currently studying. Can I claim I-T deduction on tuition fee that I pay for her?  Economic TimesDeduction under Section 80C is allowed only for the tuition fee of only up to two children, provided their educational institution is situated within India.
Budget 2019: Expect rural-focused interim Budget, tax cuts: Arun Thukral, Axis Securities  Economic TimesThis being the election year, and there may be more focus and allocation to schemes like MGNREGA, Ayushman Bharat or PM Awas Yojana, Arun Thukral, MD ...
Confederation of Indian Industry seeks corporate tax cut, higher I-T slab  Economic TimesNEW DELHI: The Confederation of Indian Industry (CII) has sought a reduction in corporate tax as well as rise in income tax slab to benefit both corporates and ...
How LTCG tax will be calculated on shares where STT is not paid  Economic TimesYou will need to justify the cost and purchase date of these shares through documents like physical share certificates, bank statements, demat account ...
It’s Official: The Trump Tax Cuts Didn’t Pay for Themselves in Year One  The New York TimesIt's time to put to rest any notion that President Trump's signature tax cuts are paying for themselves. Anyone who says otherwise is lying with numbers.

Slash Tax when Buying a Business

When buying a business, how the "purchase price" is made... Read More

Tax Time Tune Up

Excerpted from the new book, "How to Do Space Age... Read More

Alas! In E-Commerce Taxland

In trying to comply with tax laws for your e-business,... Read More

Gambling Income and Expenses - Tax Requirements

Hit a big one? With more and more gambling establishments,... Read More

Identity Theft ? Impacting Your Taxes?

If your identity is stolen, your finances can quickly become... Read More

Estate Taxes - It Pays to Plan Ahead

Estate taxes. It's not enough to simply know they exist,... Read More

What is a Federal Tax Lien?

A Federal Tax Lien (FTL) is a legal instrument that... Read More

Tax Reduction Tips

In the rush to get tax returns prepared and filed... Read More

Surprising Truths About Tax Preparers

Choosing the right tax preparer for your business is a... Read More

Requirements To Produce Tax Information (Whats Up With That?)

"What we've got here is a failure to communicate." ... Read More

Render Unto Caesar

Once a year Canadian taxpayers are required, by law, to... Read More

Highlights of IRS List of 2005 Tax Scams

Each year, the IRS lists various scams taxpayers get caught... Read More

The Implications of Income Tax Charge on Estate Planning

OverviewIn the Pre-Budget Report of December 2003 the Chancellor Gordon... Read More

Failure To Pay Employment Taxes ? Penalties

As an employer, you must pay employment taxes if you... Read More

IRS Statute of Limitations: Do Taxes Ever Expire?

Many Americans believe that an IRS debt is a debt... Read More

Another Tax Loophole

Just image, you are a small manufacturing company, business has... Read More

IRS Lock-In Letters ? What?s An Employer To Do?

Employers often ask employees to designate the amount of tax... Read More

Tax Trap #5 -- Ignoring The IRS (and the 5 best ways to contact them!)

We all love to criticize the IRS, don't we? And... Read More

The Seven Deadly Tax Sins: Commonly Missed Deductions

It's that time again, the April 15 tax deadline is... Read More

Employment Taxes ? Depositing With The IRS

If your business has employees, you must pay employment taxes.... Read More

Access to E-records by Taxing Authorities: A Case for Pakistan (Part I)

Background issues of access to recordsTo assess the records at... Read More

Home Business Tax Tips

If you have recently started an Internet or home business,... Read More

Taxing Overseas Firms for SOX Compliance

The Sarbanes-Oxley Act, also called the Public Company Accounting Reform... Read More

Hurricane Katrina ? How To Use Your Business Loss To Get A Refund on 2004 Taxes

With the massive losses caused by Katrina, the economy of... Read More

SFR Substitute for Returns: IRS Action on Non-Filers

In the latest Star Wars episode, the evil empire executes... Read More