What's New in Tax & Accounting

August 2021

Additional Content

Electronic Invoicing and Value Added Tax
This OnPoint provides an introduction to electronic invoicing and considers the trend towards compulsory electronic invoicing and the invoice clearance model. It also looks at case studies of the invoice clearance model, as implemented in Italy, Brazil and China.

Webinar: Deep Dive into Bonus Depreciation Rules and Opportunities
August 31, 2021; 1:00 pm – 2:00 pm ET
The Tax Cuts and Jobs Act (TCJA) radically overhauled the rules for depreciating fixed assets. With the final regulations and guidance released in the fall of 2019 and fall of 2020, the IRS has provided a clearer understanding of those changes - and their impact on taxpayers' depreciation. The CARES Act fixed the "retail glitch" and introduced additional changes. In this webinar, we will discuss relevant regulations and planning opportunities around bonus depreciation.

Revised Portfolios

July 2021

Enhancements

New Homepage Topic Hubs
Explore the topics that are trending across the Federal, State, and International tax landscapes with our featured Topic Hubs on the NEW Homepage. Select a topic, such as Transfer Pricing, and with one click you will be directed to curated resources such as:

  • Latest developments
  • External Resources
  • Internal Revenue Code
  • Treasury Regulations
  • Fast Answers™
  • Portfolios

Click here for a growing list of Topic Hubs and here to let us know how to improve it!

Additional Content

Tax Challenges Arising in the Digital Economy – Report on the July 2021 Statement on a Two-Pillar Solution by the OECD/G20 Inclusive Framework on BEPS
This presentation provides useful insight into the proposed operation of the two Pillars. A detailed implementation plan, together with remaining issues, is to be finalized in October 2021.

The EU E-Commerce Package: Traps for the Unwary…and Opportunities for the Well Informed!
This special report surveys the key pitfalls and planning possibilities under Europe's new e-commerce regime.

2021 Mid-Year Individual Tax Planning Guide
Now is the ideal time to focus on tax planning for the remainder of 2021.This Guide offers potential tax-saving opportunities for individual taxpayers to consider.

What is Happening in the Land of OZ?
If you missed the live webinar, you can still watch the On-Demand on Opportunity Zones to hear from expert practitioners discuss the recent guidance, issues that have come up in practice that may require clarification or further guidance, and possible tax law changes that could affect the opportunity zones program.

New Portfolios

Revised Portfolios

June 2021

Additional Content

Treasury Greenbook
This presentation contains general explanations of the Administration's fiscal year 2022 revenue proposals.

2021 Survey of State Tax Departments
Bloomberg Tax's annual survey offers insights for practitioners who must gauge whether a corporation's activities within a state could result in a tax liability. Given the states' lack of clear guidance in the form of case law or statutes setting forth the types of activities that trigger nexus and taxability, this survey provides essential details.

Tax Leadership Forum – On Demand
If you missed the live event, you can still watch the Tax Leadership Forum Fireside Chats and Sessions On-Demand.

Day 1 - Bloomberg Tax Leadership Forum | International Tax

  • Fireside chat with Fabrizia Lapecorella, Director Generl of Finance, Ministry of Economy and Financem Italy and designated Chair of OECD's Committee on Fiscal Affairs beginning January 2022
  • Panel Session on Digital Tax Negotiations at the OECD versus DSTs
  • Fireside Chat with Nikole Flax, Commissioner of LB&I, IRS
  • Panel Session on GILTI and Co. – The Future of Taxing Global Income

Day 2 - Bloomberg Tax Leadership Forum | Domestic Tax

  • Fireside chat with Jared Bernstein, Member of the White House Council of Economic Advisers
  • Panel Session on Navigating Through Short – and Long-Term Tax Changes

New Portfolios

Revised Portfolios

May 2021

Enhancements

New Homepage
We've created a new Homepage to improve navigation across the platform and customize your experience. Currently, when you log in, you default to the Federal page.

Now, you have option to set the new Homepage as your default after logging in to see your recent searches and content views, trending topics such as Digital Tax, and related content like our ready-to-use slides on selected tax developments.

Updated Summaries of CbC Reporting and Transfer Pricing Documentation Rules
Updated summaries for 80+ countries that includes the addition of information related to reporting and documentation rules and disclosures, if available.

Revised Portfolios

April 2021

Enhancements

Revamped BEPS Tracker!
The updated BEPS Trackerdelivers brief summaries on the latest BEPS (Base Erosion Profit Shifting) developments for 100% of BEPS member jurisdictions. The Tracker allows you to filter by date, country, action item (topic), and status.

The Corporate Transparency Act of 2020
Overview of entities subject to and not subject to reporting; when and how to report; and information to be reported.

Final FDII Regulations
Overview of final regulations that provide rules for determining whether a service is an FDDEI service and discusses the rules for determining whether general services are provided to a person located outside the United States.

Additional Content

Transfer Pricing Forum
With a focus on 2020 Transfer Pricing Developments, expert practitioners based in over 20 major industrial countries discuss how developments in their country have impacted their transfer pricing practice, and what they believe 2021 has in store.

New Portfolios

Revised Portfolios

March 2021

Enhancements

OnPoints
On Points are timely presentations that provide a succinct summary of important developments, key considerations and implications for specific types of businesses and/or business activities.

New March 2021 OnPoint Topics Include:

Additional Content

American Rescue Plan Act Roadmap
This roadmap provides a summary of the tax provisions in the American Rescue Plan Act of 2021, Pub. L. No. 117-2, signed into law on March 11, 2021.

Paycheck Protection Program (PPP) State Research Roadmap
This roadmap guides you to the relevant state navigators and chart builders covering the state tax treatment of PPP loan forgiveness and the deduction of expenses. The roadmap also includes direct links to news search alerts and relevant Payroll content.

February 2021

Enhancements

Tax Season Watch
Pulls together essential tax filing and payment resources in one central location! Tax Season Watch provides critical information including Special Reports covering best practices when e-filing, common mistakes in tax preparation, top audit triggers, and much more. This year we have added a dedicated OnPoint to highlight "must know" COVID related considerations that are unique to this filing season.

OnPoints
On Points are timely presentations that provide a succinct summary of important developments, key considerations and implications for specific types of businesses and/or business activities.

New February 2021 OnPoint Topics Include:

2020 Tax Prep Guides**
Tax Prep Guides offer comprehensive how-to guidance for preparing forms 1040, 1120, 1120S, 1065, 1041, 706, 709, 940 and 941.

Additional Content

2021 Outlook on Tax
The 2021 Outlook on Tax Report provides the first look at the forces shaping key tax and accounting issues for this year. This report includes articles on topics such as actions in the states on enabling e-commerce taxation, what's next for Europe's tax agenda, how Covid-19 relief measures could trigger tax filing mistakes, cases to watch at the Supreme Court, and the tax consequences of a remote workforce.

2021 Payroll Outlook**
This new report covers the effects of the ongoing pandemic on employers and payroll professionals, including rising unemployment tax rates, wage-base changes, new state and local minimum wages, and workers' compensation laws. The report also covers in detail the 2021 Consolidated Appropriations Act, which made changes to the federal Paycheck Protection Program and the Employee Retention Credit.

Digital Service Taxes and Other Unilateral Measures Roadmap**
The roadmap covers unilateral measures enacted by various countries in response to the challenges of taxing the digital economy. It will cover enacted and proposed measures, including digital services taxes (DSTs), changes to permanent establishment rules, indirect tax rules (VAT and GST issues), and other relevant material.

January 2021

Enhancements

2021 Federal Tax Calendar
This 2021 tax calendar is a reference document of dates included in the IRS Tax Calendar for Businesses and Self-Employed Individuals. View specific due dates by month for filing tax forms, paying taxes, and other actions required by federal tax law. Bookmark this website to track key 2021 tax deadlines.

OnPoints
OnPoints are timely presentations that provide a succinct summary of important developments, key considerations and implications for specific types of businesses and/or business activities.

New January 2021 OnPoint Topics Include:

2021 Quick Tax Reference Guide
A practical resource to help plan and comply in the upcoming year offering quick access to schedules, deadlines and rates.

2021 State Chart Builders
All state charts have been updated to include 2021 tax rates, future rates, interest rates and due dates.

Additional Content

Biden's Tax Plan Roadmap
Matrix outlining how current law might change under the tax proposals of President Joe Biden.

Taxpayer Certainty and Disaster Tax Relief Act Roadmap
Summarizes the non-Covid related tax provisions in the Consolidated Appropriations Act, 2021, the $2.3 trillion spending bill passed in late December. The roadmap pulls the relevant information from the legislation and presents it in a user-friendly table format.

2020 Trust Nexus Survey
Senior state tax officials weigh in on the trust nexus topics key to you and your clients in the 2020 Trust Nexus Survey. The survey offers state-by-state clarity on apportionment, throwback rules, resident and nonresident taxation and Covid-19.

December 2020

To help you navigate the ever-shifting landscape of federal,state,and international taxation and financial accounting,BloombergTax has added even more content,features,and practice tools. Below is a summary of some of the enhancements made in 2020, all with the goal of equipping you with the resources you need to provide exceptional tax guidance.

2020 Year-End Planning

Practice Guides & Checklists specifically developed to highlight important tax changes for the next tax year, including checklists to help with year-end tax planning are now available. These Practice Guides are based on our annual Client Letters, which are also available and can be used to generate new and repeat business.

2021 Federal Tax Guide
Now available! This is a must-have reference for advising business and individuals on federal taxation, as well as a vital resource for compliance and tax planning.

2020 Interactive Tax Forms
Forms for the 2020 tax year are being uploaded to Interactive Tax Forms as they are released and/or approved by the jurisdictions.

Coronavirus Tax Watch Page
Provides easy access to all our tax coverage related to Covid-19. In addition to news and links to key documents, you'll find In Briefs. On Points and roadmaps from our analyst team (links below) that provide concise summaries and analysis of rapidly changing tax developments.

Tax Reform Guidance Watch Page
Provides the latest in formation on guidance and proposed regulations issued by the IRS to implement provisions under the 2017 tax act through our roadmaps, Daily TaxReport® articles, proposed and final regulations, and podcasts posted alongside key IR Cand Tax Management Portfolios.

Enhanced Portfolio Printing
Enables full or partial printing of any portfolio. You can choose to print an entire portfolio, including working papers; detailed analysis; a single portfolio chapter; or individual subsections. In addition, you can customize portfolio downloads, choosing file format, content, and paper size.

On Point Presentations On Points are timely presentations that provide a succinct summary of important developments, key considerations and implications for specific types of businesses and/or business activities.

On Points include:

Workflow Tools
Saves time by taking you through a series of questions related to a transaction/situation and guides you through key considerations required to make a determination. Definitions, descriptions, and links to additional guidance and relevant source material are displayed at each step.

Available Workflow Tools include:

Federal Tax

CARES Act Elections & Compliance Statements Client Letters

Deemed Asset Acquisition Election §338/§336(e) Workflow Tool
The Deemed Asset Acquisition Election workflow tool is designed to guide you through the requirements of §338 and §336(e) and assist you in determining whether your client is eligible to make a §338(g), §338(h)(10), or §336(e) election.

Deducting Meals and Entertainment Workflow Tool
The Meals & Entertainment workflow tool has been updated to reflect proposed regulations released February 21, 2020 (REG-100814-19, 85 Fed. Reg. __ (Feb. 26, 2020)), which addresses the §274 limitation on deducting food and beverage expenses and elimination of the deduction for expenditures related to entertainment activities.

State Tax

State Conformity to CARES Act
This chart offers a quick overview of state conformity to the CARES Act with links to authority.

2020 State Tax Department Survey**
Every year Bloomberg Tax surveys senior state tax department officials about each state's position on the income and sales tax issues that matter most to corporations. This year our survey includes an expanded discussion addressing companies' pandemic-related quandaries, especially those surrounding the intersection of telecommuting and nexus.

Compare Button
The Compare Button is now available on all State Tax Navigators, VAT Navigators, and Country Guides. It offers a seamless transition between the state- and/or country-specific analysis on a particular topic and a related Chart Builder.

Quick Answers
This feature allows you to get quick answers to state specific research directly from our search results screen. You can simply enter the three components of your search (type of tax, state name, topic) to return results. The answer will be displayed at the top of the search results screen, with a link to the state chart if further detail is needed.

State Tax – Covid-19 Telework Snapshot
This chart provides a top-line summary of state tax activity relating to states' responses to nexus based on telework during the COVID-19 crisis.

International Tax

Enhanced Country Coverage
Bloomberg Tax & Accounting's platform now provides full coverage for more than 220 countries worldwide, helping you navigate global tax planning challenges while staying on top of emerging issues, such as those resulting from the Covid-19 pandemic.

Dedicated County Guides now available for:
Afghanistan, American Samoa, Andorra, Armenia, Bahamas, Bangladesh, Barbados, Botswana, Brunei Darussalam, Cameroon, Central African Republic, Chad, Cook Islands, Comoros, Côte d’Ivoire, Djibouti, Ethiopia, Falkland Islands, Faroe Islands, Gabon, Gambia, Guam, Guyana, Haiti, Iran, Jamaica, Jordan, Kosovo, Kyrgyzstan, Laos, Libya, Macau, Madagascar, Maldives, Mauritania, Monaco, Mongolia, Mozambique, Myanmar, New Caledonia, North Korea, Rwanda, Sao Tome and Principe, Senegal, Seychelles, Sri Lanka, St. Vincent and the Grenadines, St. Kitts and Nevis, Suriname, Tajikistan, Timor-Leste, Togo, Tonga, Trinidad and Tobago, Uganda, U.S. Virgin Islands, Zimbabwe

Dedicated VAT Navigators now available for:
Afghanistan, American Samoa, Armenia, Aruba, Bangladesh, Barbados, Belize, Botswana, Brunei Darussalam, Burkina Faso, Burundi, Cameroon, Chad, Comoros, Cook Islands, Côte d’Ivoire, Djibouti, Ethiopia, Falkland Islands, Faroe Islands, French Polynesia, Gabon, Gambia, Guam, Guyana, Haiti, Iran, Jamaica, Jordan, Kiribati, Kosovo, Kyrgyzstan, Laos, Lebanon, Liberia, Libya, Macau, Madagascar, Maldives, Mauritania, Monaco, Mongolia, Mozambique, Myanmar, New Caledonia, Niue, North Korea, Papua New Guinea, Rwanda, Senegal, Seychelles, Sierra Leone, Sri Lanka, Suriname, Tajikistan, Togo Vanuatu, Tonga, Turkmenistan, Turks and Caicos, Uganda, U.S. Virgin Islands, Zambia, Zimbabwe

The BEPS Tracker now covers the following countries:
Andorra, Anguilla, Antigua and Barbuda, Armenia, Aruba, Bahamas, Barbados, Belize, Benin, Botswana, Brunei Darussalam, Burkina Faso, Cameroon, Congo (Democratic Republic of), Republic of the Congo, Cook Islands, Côte d’Ivoire, Djibouti, Dominica, Eswatini (Swaziland), Faroe Islands, Gabon, Greenland, Grenada, Haiti, Jamaica, Liberia, Macau, Maldives, Monaco, Mongolia, Montserrat, Papua New Guinea, Saint Lucia, San Marino, Senegal, Seychelles, Sierra Leone, Sri Lanka, St. Kitts and Nevis, St. Vincent and the Grenadines, Trinidad and Tobago, Turks and Caicos, Zambia

These countries (domestic law,and all bilateral treaties) have been added to the Withholding Tool:
Afghanistan, American Samoa, Andorra, Anguilla, Armenia, Bahamas, Bangladesh, Barbados, Belize, Benin, Bhutan, Botswana, Brunei Darussalam, Burkina Faso, Burundi, Cameroon, Central African Republic, Chad, Comoros, Congo (Democratic Republic of), Republic of the Congo, Cook Islands, Côte d’Ivoire, Eswatini (Swaziland), Cuba, Djibouti, Equatorial Guinea, Eritrea, Ethiopia, Falkland Islands, French Polynesia, Gabon, Greenland, Guam, Guinea, Guinea Bissau, Iran, Iraq, Jamaica, Jordan, Kyrgyzstan, Lebanon, Macau, Mali, Mauritania, Monaco, Mongolia, Mozambique, Myanmar, Papua New Guinea, Rwanda, Samoa, Sao Tome and Principe, Senegal, Seychelles, Sierra Leone, Sri Lanka, St. Kitts and Nevis, Suriname Tajikistan, Trinidad and Tobago, Turks and Caicos, Uganda, U.S. Virgin Islands, Zambia, Zimbabwe

New Portfolios

Revised Portfolios

Accounting Portfolios

Special Reports

Section 250 Final Regulations Roadmap
This comprehensive report will guide your organization and clients in 250 deductions and related definitions for taxable years beginning January 1, 2021.

Foreign Tax Credit Final Regulations Roadmap
The Tax Cuts and Jobs Act (TCJA) (Pub. L. No. 115-97) made several significant changes to the foreign tax credit rules and related expense allocation and apportionment rules for purposes of determining the foreign tax credit limitation. This roadmap highlights key takeaways from the 2019 and 2020 final regulations relating to the foreign tax credit.

Foreign Tax Credit 2020 Proposed Regulations Roadmap
Treasury and the IRS issued REG-101657-20, a third set of proposed Foreign Tax Credit (FTC) regulations in September 2020. Perhaps most significantly, the 2020 proposed FTC regulations amend the definition of a creditable foreign income tax. The 2020 proposed FTC regulations also address several other issues, including amending certain sourcing and allocation and apportionment rules.

Hybrid Arrangements Regulations Roadmap
The 2017 tax act (Pub. L. No. 115-97) significantly altered the international tax regime in the United States including the implementation of rules designed to combat the use of hybrid entities and hybrid transactions as methods of tax avoidance. Bloomberg Tax's special report highlights the key takeaways from the proposed regulations.

Section 245A Regulations Roadmap
This roadmap points out the most important provisions in the regulations by topic, provides a brief overview of the rules, indicates where in the regulations the customer can find the final rule, and points out important changes between the temporary regulations (promulgated in June 2019 by T.D. 9865) and the final regulations (T.D. 9909).

Section 163(j) Final and Proposed Regulations Roadmap
This Roadmap is an easy-to-scan resource for mastering the new limitations and exceptions in this key area of tax reform. We detail how the final regulations, released in July 2020, compare with the proposed regulations and cover the impacts of Notice 2020-59, which provides a safe harbor relevant to the residential living industry.

Base Erosion and Anti-Abuse Tax Final Regulations Roadmap The 2019 final regulations contain rules for determining whether a taxpayer is an applicable taxpayer, rules for determining the amount of base erosion payments and the amount of base erosion tax benefits arising from such payments. The 2019 final regulations also provide rules for determining the amount of modified taxable income, and also provide guidance for computing the base erosion minimum tax amount, which is computed by reference to modified taxable income.

Financial Accounting (IFRS) Coronavirus Roadmap
This roadmap provides a summary of International Financial Reporting Standards (IFRS) activity relating to the novel coronavirus (COVID-19), including regulation providing financial filing relief for registrants or others impacted by COVID-19, and general IFRS accounting considerations as a result of the COVID-19 driven economic downturn.

Mandatory Disclosure Rules (MDR) & DAC 6 Roadmap
This roadmap provides a summary of mandatory disclosure rules for reportable cross-border arrangements, including those required by EU Council Directive 2018/822 (DAC 6). It was prepared by Bloomberg Tax staff.

2020 State Tax Department Survey
Every year Bloomberg Tax surveys senior state tax department officials about each state's position on the income and sales tax issues that matter most to corporations. This year our survey includes an expanded discussion addressing companies' pandemic-related quandaries, especially those surrounding the intersection of telecommuting and nexus.

Covid-19 Impact on (the Other) TP
Baker McKenzie and Bloomberg Tax & Accounting Comprised of 50+ Baker McKenzie lawyers and economists from around the world, this special report identifies the most critical transfer pricing issues businesses should be analyzing now.

November 2020

Enhancements

CBC Reporting Forms Now included in Translation Forms Library
Country-by-Country reporting forms, instructions, and templates (varies by country) have been added to the translates forms library. The original language of these items is also included. The documents will be continuously updated as updates are published by jurisdictions.

State Tax Department Survey 2.0 Update
Several states that were initially unable to participate in the Survey due to Covid-19 have since provided their responses. Accordingly, Bloomberg Tax has updated the 2020 Survey to reflect responses from Florida, Michigan, Minnesota, New York, New York City and Oklahoma.

International Expansion
Bloomberg Tax & Accounting's platform now provides full coverage for more than 220 countries worldwide, helping businesses navigate global tax planning challenges while staying on top of emerging issues, such as those resulting from the Covid-19 pandemic.

The Bloomberg Tax & Accounting platform uniquely brings together the latest international tax developments with in-depth analysis and commentary from in-country experts, practice tools, and news coverage from across the globe. For each country, the platform provides a detailed analysis of corporate taxation (Country Guides), value-added taxes (VAT), and international withholding taxes.

On Point Presentations

Simplify the most complex tax topics with our OnPoint presentations, which you can leverage in your internal presentations

Recent additions:

New Portfolios

Revised Portfolios

October 2020

Enhancements

My States on Chart Builders

My States allows you to change your chart builder results to only show the jurisdictions you work in so you can find insights faster. When creating State Chart Builders you will have the option at the bottom of the page to set the selected jurisdictions as your "favorite" or "My States" selections.

On Point Presentations

An OnPoints link has been added to the Federal Homepage in the Tax Reform & Featured Topics box that takes you to the search results for all OnPoints.

New OnPoints will continue to be added to the Tax Reform and Coronavirus Watch pages and you can access them from that link on the homepage as well.

Recent additions:

Additional Content

Section 250 Final Regulations Roadmap
This comprehensive report will guide your organization and clients in 250 deductions and related definitions for taxable years beginning January 1, 2021.

Foreign Tax Credit Final Regulations Roadmap
The Tax Cuts and Jobs Act (TCJA) (Pub. L. No. 115-97) made several significant changes to the foreign tax credit rules and related expense allocation and apportionment rules for purposes of determining the foreign tax credit limitation. This roadmap highlights key takeaways from the 2019 and 2020 final regulations relating to the foreign tax credit.

Foreign Tax Credit 2020 Proposed Regulations Roadmap
Treasury and the IRS issued REG-101657-20, a third set of proposed Foreign Tax Credit (FTC) regulations in September 2020. Perhaps most significantly, the 2020 proposed FTC regulations amend the definition of a creditable foreign income tax. The 2020 proposed FTC regulations also address several other issues, including amending certain sourcing and allocation and apportionment rules.

Hybrid Arrangements Regulations Roadmap
The 2017 tax act (Pub. L. No. 115-97) significantly altered the international tax regime in the United States including the implementation of rules designed to combat the use of hybrid entities and hybrid transactions as methods of tax avoidance. Bloomberg Tax's new special report Hybrid Arrangements Proposed Regulations Roadmap highlights the key takeaways from the proposed regulations.

Section 245A Regulations Roadmap
The Section 245A Regulations Roadmap points out the most important provisions in the regulations by topic, provides a brief overview of the rules, indicates where in the regulations the customer can find the final rule, and points out important changes between the temporary regulations (promulgated in June 2019 by T.D. 9865) and the final regulations (T.D. 9909).

State Tax – Covid-19 Telework Snapshot
This chart provides a top-line summary of state tax activity relating to states' responses to nexus based on telework during the COVID-19 crisis.

New Portfolios

Revised Portfolios

August/September 2020

On Point Presentations

On Points are timely presentations that provide a succinct summary of important developments, key considerations and implications for specific types of businesses and/or business activities.

On Points include:

Additional Enhancements

2021 Projected U.S. Tax rates
Based on changes in the chained Consumer Price Index (chained CPI), Bloomberg Tax & Accounting's annual report is a detailed and comprehensive projection of inflation-adjusted amounts in the tax code that gives tax practitioners and financial professionals an early start on 2021 tax year strategies.

Trump, Biden Tax Plan Comparison
This report helps take the guesswork out of planning and will help strategize for every scenario with side-by-side comparisons of current law and Trump's and Biden's positions across U.S. business taxes, international business tax, compensation and benefits, and more.

Section 163(j) Final and Proposed Regulations Roadmap
This Roadmap is an easy-to-scan resource for mastering the new limitations and exceptions in this key area of tax reform. We detail how the final regulations, released in July 2020, compare with the proposed regulations and cover the impacts of Notice 2020-59, which provides a safe harbor relevant to the residential living industry.

Base Erosion and Anti-Abuse Tax Final Regulations Roadmap
The 2019 final regulations contain rules for determining whether a taxpayer is an applicable taxpayer, rules for determining the amount of base erosion payments and the amount of base erosion tax benefits arising from such payments. The 2019 final regulations also provide rules for determining the amount of modified taxable income, and also provide guidance for computing the base erosion minimum tax amount, which is computed by reference to modified taxable income.

Financial Accounting (IFRS) Coronavirus Roadmap
This roadmap provides a summary of International Financial Reporting Standards (IFRS) activity relating to the novel coronavirus (COVID-19), including regulation providing financial filing relief for registrants or others impacted by COVID-19, and general IFRS accounting considerations as a result of the COVID-19 driven economic downturn.

New Portfolios

Revised Portfolios

July 2020

Coronavirus Tax Watch Enhancements

State Tax – Covid-19 Telework Snapshot
This chart provides a top-line summary of state tax activity relating to states' responses to nexus based on telework during the COVID-19 crisis.

Additional Enhancements

Mandatory Disclosure Rules (MDR) & DAC 6 Roadmap
This roadmap provides a summary of mandatory disclosure rules for reportable cross-border arrangements, including those required by EU Council Directive 2018/822 (DAC 6). It was prepared by Bloomberg Tax staff.

New Portfolios

Revised Portfolios

May/June 2020

Coronavirus Tax Watch Enhancements

On Point Presentations
On Points are timely presentations that provide a succinct summary of important developments, key considerations and implications for specific types of businesses and/or business activities.

On Points include: On Point: NOL Carrybacks and the CARES Act; On Point: Impact of Coronavirus on Retailers of Consume Staples; On Point: Remote Employees; On Point: Qualified Improvement Property

Impacts of Covid-19 on State Tax
This In Brief outlines the activity that has been coming from the states, income tax issues that companies should consider for remote workers, and sales and use tax issues for businesses.

State Conformity to CARES Act
This chart offers a quick overview of state conformity to the CARES Act with links to authority.

CARES Act Elections & Compliance Statements

Client Letters
Two new client letters are available: Filing Deadlines Delayed Due to COVID-19 and Increased Charitable Contribution Limits Under CARES Act

Additional Enhancements

On Point: Unrelated Business Taxable Income Regulations
This presentation reviews the impact of REG-106864-18 on identifying each unrelated trade or business, and its income, deductions, and treatment.

Quick Answers
This feature allows you to get quick answers to state specific research directly from our search results screen. You can simply enter the three components of your search (type of tax, state name, topic) to return results. The answer will be displayed at the top of the search results screen, with a link to the state chart if further detail is needed.

2020 State Tax Department Survey
Every year Bloomberg Tax surveys senior state tax department officials about each state's position on the income and sales tax issues that matter most to corporations. This year our survey includes an expanded discussion addressing companies' pandemic-related quandaries, especially those surrounding the intersection of telecommuting and nexus.

New Portfolios

March/April 2020

Coronavirus Tax Watch

Our new Coronavirus Tax Watch page, accessible to all subscribers, provides easy access to all of our tax coverage related to Covid-19. In addition to news and links to key documents, you'll find In Briefs and roadmaps from our analyst team (links below) that provide concise summaries and analysis of rapidly changing tax developments.

Coronavirus Roadmaps Are Now Date- and Time-Stamped

Because of the rapid pace of change, we have begun date- and time-stamping our Coronavirus Tax Roadmaps. You'll find the date/time in the introductory paragraph as well as in the footer of each page of the document for our State Tax and Federal Tax & Accounting Roadmaps, with the International Roadmaps to follow soon.

Our coronavirus coverage for our payroll and financial accounting subscribers can be found at the links below:

Coronavirus Payroll Watch (Payroll Subscribers)
Financial Accounting Coronavirus Watch (Financial Accounting Subscribers)

Client Letters

Two new client letters are available: Provisions Affecting Retirement Plan Distribution and Loans in the CARES Act and Pension Funding Relief in the CARES Act .

Coronavirus Payroll Multistate Tracker (Payroll Subscription Required)

Multistate Tracker covers state changes to due coronavirus outbreak across income tax withholding, unemployment insurance, temporary disability insurance, family-leave insurance, paid leave, workers' compensation, and other compliance components.

SPECIAL REPORTS

Covid-19 Impact on (the Other) TP
Baker McKenzie and Bloomberg Tax & Accounting

Comprised of 50+ Baker McKenzie lawyers and economists from around the world, this special report identifies the most critical transfer pricing issues businesses should be analyzing now.

Additional Enhancements

Deemed Asset Acquisition Election §338/§336(e) Workflow Tool

The Deemed Asset Acquisition Election workflow tool is designed to guide you through the requirements of §338 and §336(e) and assist you in determining whether your client is eligible to make a §338(g), §338(h)(10), or §336(e) election.

Deducting Meals and Entertainment Workflow Tool

The Meals & Entertainment workflow tool has been updated to reflect proposed regulations released February 21, 2020 (REG-100814-19, 85 Fed. Reg. __ (Feb. 26, 2020)), which addresses the §274 limitation on deducting food and beverage expenses and elimination of the deduction for expenditures related to entertainment activities.

New State and International Featured Topics Section

A Tax Reform & Featured Topics section is now available on the State homepage. A Featured Topics section has also been added to the International homepage. These new topic boxes provide quick access to the Coronavirus Tax Watch page and more.

Interactive Workflow Tools

Our new interactive tools leverage the in-depth analysis and practical guidance from the Tax Management Portfolios combined with intuitive workflows to simplify and shorten your research time, getting you to the information you need more quickly. Recently released tools include:

  • Bonus Depreciation and First-Year Expensing
  • Choice of Forum
  • Deemed Asset Acquisition Election Tool (Section 338/336(e))
  • Determining if an Individual is a Dependent
  • Expatriation of Individuals
  • FBAR Filing for Individuals
  • Foreign Earned Income Exclusion (Section 911)
  • Innocent Spouse Relief
  • Meals & Entertainment
  • Portability of Deceased Spousal Unused Exclusion Amount
  • Section 645 Election

Country Additions (International)

VAT Navigator: Burkina Faso, Burundi, Chad, Falkland Islands, Faroe Islands, Gabon, Haiti, Kiribati, Lebanon, Libya, Macau, Niue, North Korea, Sierra Leone, Togo Vanuatu

Country Guides: Central African Republic, Chad, Comoros, Djibouti, Falkland Islands, Faroe Islands, Gabon, Mauritania, Mongolia, North Korea, Haiti, Libya, Sao Tome and Principe, St. Kitts and Nevis, Suriname, Togo, Tonga, Trinidad and Tobago, Macau

Withholding Tax Chart Builder: Burundi, Central African Republic, Comoros, Cuba, Djibouti, Equatorial Guinea, Eritrea, Greenland, Sao Tome and Principe, Samoa, Sierra Leone, Suriname Tajikistan

New Portfolios

Revised Portfolios

January/February 2020

Product Enhancements

Tax Season Watch

This new page brings together tax filing and payment resource in one place and provides helpful information for avoiding mistakes for tax preparation, best practices when e-filing, top audit triggers, and much more. Access now.

Workflow Tools

New interactive Workflow Tools designed to save time take subscribers through a series of questions related to a transaction/situation, and guide them through key considerations required to make a determination. Definitions, descriptions, and links to additional guidance and relevant source material are displayed at each step. Access now.

Available Workflow Tools for individual and business planning include:

  • Deducting Meal & Entertainment Expenses
  • Choice of Forum
  • Bonus Depreciation and Section 179 Expensing
  • Innocent Spouse Relief
  • Section 911 – Foreign Earned Income Tax Exclusion
  • Section 645 Election
  • Portability of Deceased Spousal Unused Exclusion Amount

Compare Button

The Compare Button is now available on all State Tax Navigators, VAT Navigators, and Country Guides. It offers a seamless transition between the state- and/or country-specific analysis on a particular topic and a related Chart Builder. Access now.

Country Additions

VAT Navigator: Aruba, Comoros, Djibouti, Gambia, Mauritania, Suriname, Tonga, Turkmenistan

Country Guides: Armenia, Bahamas, Barbados, Gambia, St. Vincent and the Grenadines, Timor-Leste

Withholding Tax Chart Builder: American Samoa, Armenia, Benin, Bhutan, Chad, Eswatini (Swaziland), Falkland Islands, French Polynesia, Guinea, Guinea Bissau, Kyrgyzstan, Mali, Mauritania

New Portfolios

Revised Portfolios

December 2019

Product Enhancements

Federal

2020 Federal Tax Guide
This comprehensive quick reference tool helps with the preparation of 2019 individual, estate and gift, and business tax returns. Useful for both novices and experts, the Federal Tax Guide is supported by numerous examples and citations to underlying authority, as well as cross-references to Tax Management Portfolios and Tax Practice Series chapters. Access now.

State

2019 Trust Nexus Survey
Stay on top of the latest developments and trends regarding trust income tax nexus. This report covers general trust income tax policies, the constitutional limitations placed on the taxation of trusts, the taxation of nonresident and part-year resident trusts, the availability of credits for taxes paid to other states, and the specific activities that determine whether a trust is taxed as a resident trust in a particular state. Access now.

International

Transfer Pricing Forum: Taxation and Digitalisation of the Economy
Digital transformation, digital revolution, and digitalisation of the economy are all expressions that refer to the impact that the use of digital technologies and data are having on the way people, firms, and governments interact, work, and produce. This phenomenon is spreading widely and at a rapid pace, putting into question the effectiveness of long-settled policies in several areas, including taxation. Access now.

Country Additions

VAT Navigator: Anguilla, Dominica, Lesotho, St. Lucia, St. Kitts & Nevis, St. Vincent and the Grenadines, Trinidad & Tobago

Country Guides: Anguilla, Dominica, French Polynesia, Nepal, Zambia

Withholding Tax Chart Builder: Guyana, Laos, Madagascar, New Caledonia

All

Payroll Year-End Clearinghouse
To help employers navigate this busy time of year, subscribers can access a clearinghouse of information on year-end payroll developments and duties. The clearinghouse provides the latest federal and state updates, including annual pension-related and inflation-adjusted amounts, forms released by the IRS, state minimum wage changes for 2020, announcements, and revenue rulings. Also available are a year-end checklist and report developed in collaboration with the payroll team at KPMG LLP. Access now.

Big Four Positions Tool
An enhanced Big Four Positions Tool is now available on the Financial Accounting resource center. Publicly available financial accounting positions from the four major public accounting firms – Deloitte, EY, KPMG, and PwC – are summarized and presented in one central database. Use this to get insights into the treatment of financial accounting topics with positions relating to U.S. GAAP, IFRS, FASB, and IASB standards. Access now.

Points of Law
A multiyear artificial intelligence (AI) initiative offering a more efficient way to conduct case law research through machine learning. When applied to the Bloomberg Tax database of 13 million court opinions, Points of Law highlights applicable language critical to a court's reasoning, Citation Map, and most relevant case law. Access now.

September 2019

Product Enhancements

Enhanced Country Coverage

Bloomberg Tax’s global country expansion is underway: * Dedicated County Guides now available for: Afghanistan, Botswana, Cameroon, Cote d'Ivoire, Ethiopia, Jordan, Myanmar, Rwanda, Sri Lanka, Zimbabwe

  • Dedicated VAT Navigators now available for: Bangladesh, Belize, Botswana, Cote d'Ivoire, Ethiopia, Kosovo, Kyrgyzstan, Laos, New Caledonia, Myanmar, Zimbabwe, Sri Lanka
  • The BEPS Tracker now covers the following countries: Andorra, Anguilla, Antigua and Barbuda, Aruba, Bahamas, Barbados, Belize, Benin, Brunei Darussalam, Burkina Faso, Côte d’Ivoire, Dominica, Gabon, Grenada, Jamaica, Macau, Monaco, Papua New Guinea, Saint Lucia, San Marino, Seychelles, Senegal, Sri Lanka, St. Kitts and Nevis, Trinidad and Tobago, Turks and Caicos, and Zambia
  • These countries (domestic law, and all bilateral treaties) have been added to the Withholding Tool: Afghanistan, Anguilla, Bahamas, Belize, Burkina Faso, Cameroon, Congo, Cook Islands, Côte d’Ivoire, Gabon, Guam, Iraq, Monaco, Myanmar, Papua New Guinea, St. Kitts and Nevis, Turks and Caicos, Uganda, and U.S. Virgin Islands

Expanded Table of Contents

Under Portfolio Description you now have the option to select Table of Contents. Once selected, a full Table of Contents for that Portfolio appears. For convenience, the reader can choose to download and/or print the full Table of Contents.

August 2019

Product Enhancements

New Autocomplete Feature
The Autocomplete feature has been added to Bloomberg Financial Accounting. The feature presents link suggestions to FASB Accounting Standards Codification sections based on a user's search terms as the user types them. These link suggestions remain available until the user hits Enter/selects the search icon. This feature replaces the Go To Citation feature and provides a better user experience, eliminating "sorry not found" search results.

June/July 2019

Product Enhancements

State Tax Nexus Tools Updated
State Tax Nexus Tools have been updated to reflect the 2019 State TaxDepartment Survey results. A Chart Builder tool generates state-by-state comparison charts that indicate the nexus policy of each state. Through the Evaluator, a series of questions regarding types of activities performed are asked. Responses are then used to help determine if a company has nexus in one or more states. A detailed, client-ready report is then created providing an explanation of each state's nexus laws and associated nexus consequences

Expanded Country Coverage
Sri Lanka has been added to the Country Guides. Both Sri Lanka and Bangladesh have been added to the VAT Navigator.

Tax Planning Opportunities With Section 199A
In this complimentary webinar you'll learn how to navigate the nuances of the QBI deduction, gain insight into saving your clients money, and identify additional revenue opportunities for your practice.
July 10, 2019
2:00 PM ET
This is a virtual event, accessible online and over the phone. Access instructions will be provided after registration.
Learn more or register here.

Update On Opportunity Zones
With an estimated $6 trillion of idle capital gains in the economy and plenty of potentially lucrative markets available, opportunity zone funds are poised to become a go-to vehicle for wealthy investors looking for tax-advantaged ways to redeploy capital gains.
July 16, 2019
11:30 AM ET
This is a virtual event, accessible online and over the phone. Access instructions will be provided after registration.
Learn more or register here.

Wayfair: One Year Later
It's been one year since the Wayfair decision upended the physical presence nexus standard for state sales taxes collected by online retailers. While the vast majority of states have implemented economic nexus standards, many questions still linger. This on-demand webinar will help attendees navigate the complexity of complying with the states' emerging economic nexus laws and rules.
On-Demand Pre-Recorded Webinar
This is a complimentary program sponsored by Avalara.
Register for on-demand here

New Portfolios

6040-1st: T.M., Indirect Foreign Tax Credits
6400-1st: U.S. Income Taxation of Nonresident Alien Individuals

Revised Portfolios

743-2nd: Structuring Real Estate Joint Ventures with Private REITs
473-2nd: Private Foundations - Excess Business Holdings (Section 4943)
450-2nd: Tax-Exempt Organizations -- Organizational and Operational Requirements
6875-2nd: U.S. Income Tax Treaties -- Benefits Provided by a Country to Its Own Residents and Citizens

May 2019

Product Enhancements

2019 State Tax Department Survey

The Bloomberg Tax 2019 State Tax Department Survey is now available. Premier State Subscribers can access the survey under the News & Commentary section of their State tab. This annual survey clarifies each state's position on the gray areas of corporate income and sales and use tax and is extremely helpful when evaluating whether corporate activities within a state could result in a tax assessment. The survey gives an in-depth review of states' responses to a variety of topics, including corporate income tax nexus, pass-through entity-level nexus, sales tax notice and reporting requirements, apportionment formulas and much more.

Bloomberg Tax & Accounting Website Now Live

Our new website went live on May 17. Visitors to bna.com will be directed to https://pro.bloombergtax.com when they click on the Tax tab.  You will also notice that we are in the process of changing our  brand name to Bloomberg Tax & Accounting which you will notice appears in the upper left hand corner of each page  Our new fresh look and the addition of the "& Accounting" are exciting ways to launch the second half of 2019!

Learning from the 2019 Survey of State Tax Departments -- Corporate Income & Pass-through Entity Taxation

In this webinar we'll take a closer look at the recent trends in state corporate income taxation and taxation of pass-through entities.

June 6, 2019, 1:00 pm ET

This is a virtual event, accessible online and over the phone. Access instructions will be provided after registration.

Learn more or register here.

Wayfair: One Year Later

This webinar is designed to help attendees navigate the complexity of complying with the states' emerging economic nexus laws and rules.

June 20, 2019, 2:00 PM ET
This is a virtual event, accessible online and over the phone. Access instructions will be provided after registration.

Learn more or register here.

2nd Annual Bloomberg Tax Leadership Forum: Preparing Multinationals for a Changing Tax Landscape

Join us to gain deep insights into global tax planning, transfer pricing, and taxation of digital assets.
June 27, 2019, 8:00 am -- 5:00 pm, ET
Bloomberg L.P.
New York, NY
Learn more or register here.

April 2019

Product Enhancements

GILTI Calculator

Enables you to calculate your GILTI inclusion amount under IRC §951A, as required by the 2017 tax act, and to better understand the inputs. The calculator, released in beta, gives you the opportunity to share your feedback by clicking the "Calculator Feedback" button.

International Withholding Tax Chart

Allows you to select multiple source countries and make side-by-side comparisons of the withholding tax consequences when investing in, or providing services into, multiple countries. Chartable content can now be saved to Workspaces and exported to Excel. Charts will display both the domestic and treaty rates for different types of withholding tax, while providing links to relevant treaty articles directly from the chart.

International Tax Forms Navigation

Allows you to open and view multiple country forms, similar to the treaty library. The database has a new unstructured layout. Users can select specific filters on the left. The results will immediately display in the center of the page.

Enhanced Portfolio Printing

Enables full or partial printing of any portfolio. Subscribers can choose to print:
Entire portfolio, including working papers

  • Detailed analysis
  • Single portfolio chapter
  • Individual subsections

In addition, subscribers can customize portfolio downloads, choosing file format, content, and paper size.

March 2019

FEATURED EVENT -- SAVE THE DATE

2nd Annual Bloomberg Tax Leadership Forum: Preparing Multinationals for a Changing Tax Landscape

Join us to gain deep insights into global tax planning, transfer pricing, and taxation of digital assets.

June 27, 2019
Bloomberg L.P.
New York, NY

The 2017 Tax Cuts and Jobs Act fundamentally changed the tax landscape for U.S. businesses, as well as had broad implications for multinational corporations. The leadership forum is a unique opportunity to engage with regulators, policy leaders, industry experts, corporate tax leaders, and those in the financial services industry as they adjust to this new climate and look toward business growth in 2020.

Learn more or register here.

Revised Portfolios

Product Enhancements

Credits and Incentives Navigator and Chart Builder

Covers state tax credits and incentives available to businesses and individuals. It encompasses analysis from the Credits and Incentives Portfolio collection and the Green Incentives Navigator. With this new format, credits and incentives analysis is more easily accessible via search and allows you to build quick comparison charts on desired topics.

State Charts Updated With 2019 and Future Rate Information

State charts were updated to include Property Tax, Individual Income Tax, and Excise Tax Navigators. Chart Builders have been expanded to cover a combined 101 additional topics, including Sports Gambling and Wagering (Excise Tax), Dark Store Valuation Theory (Property Tax), Partnership Audit Procedures (Pass-Through Entities Tax), and Business Interest 163(j) (Corporate Income and Pass-Through Entities Tax).

Special Reports

Section 250 Proposed Regulations Roadmap
In an effort to combat possible indefinite deferral of U.S. taxation with respect to active foreign business income, §951A was enacted. In response to concern about the new GILTI provision potentially harming the competitive business position of domestic corporations, §250 was enacted. It generally permits domestic corporations to deduct 37.5% of their "foreign-derived intangible income" (FDII) and 50% of their GILTI in taxable years beginning before 2026.
Download your copy today

2019 Credit Losses
Explores how the credit loss landscape is set to be transformed by the implementation of ASC 326. This new standard from FASB is sure to impact how corporations can write down losses on financial assets and poses significant risks to companies that don't plan ahead for the new standard. Get the insights you need to provide your clients with the most up-to-the-moment advice possible.
Download your copy today.

Highlights of the Final Partnership Audit Rules
This report highlights some of the more significant changes and clarifications made to the partnership audit rules that were included in the final regulations the IRS released (T.D. 9844) on December 22, 2018. They implement the centralized partnership audit regime enacted by the Bipartisan Budget Act of 2015 and subsequently amended by the Tax Technical Corrections Act of 2018. It also details some of the gaps practitioners should watch for.
Download your copy today.

Jumpstart - Tax & Accounting Podcast

Recent Proposed Regulations to BEAT -- Part 1 This podcast covers the BEAT proposed regulation and its expansion upon the statute.

Recent Proposed Regulations to BEAT -- Part 2 Bloomberg Tax experts discuss base erosion payments.

Final 965 Regulations This podcast is a discussion around 965 and the final regulations issued by the IRS on January 15, 2019.

Proposed Regulation on Foreign Tax Credit Discussion of the new proposed regulations on foreign tax credit.

Section 199A Update -- Part 3 The third in a multipart podcast series. Bloomberg Tax experts discuss the recent guidance issued on §199A.

Using Family Limited Partnerships in Estate Planning After The 2017 Tax Act Portfolio author Louis Mezzullo discusses some of the requirements and pitfalls in using FLPs in today's estate planning.

The Estate Tax Exclusion: Can or Should You Use The Less Wealthy Spouse's Exclusion? Richard Franklin and George Karibjanian of Franklin Karibjanian & Law PLLC join Practitioners' Insight host Andrea L. Ben-Yosef in a podcast about the new estate tax exclusion.

Videos

February 2019

FEATURED EVENT -- SAVE THE DATE

2nd Annual Bloomberg Tax Leadership Forum: Preparing Multinationals for a Changing Tax Landscape

June 27, 2019
Bloomberg L.P.
New York, NY

The 2017 Tax Cuts and Jobs Act fundamentally changed the tax landscape for U.S. businesses, as well as had broad implications for multinational corporations. The leadership forum is a unique opportunity to engage with regulators, policy leaders, industry experts, corporate tax leaders, and those in the financial services industry as they adjust to this new climate and look toward business growth in 2020.

Join us to gain deep insights into global tax planning, transfer pricing, and taxation of digital assets. 

Learn more or register here .

Revised Portfolios

Product Enhancements

New International Homepage
Simplifies international tax treaty access:

  • Treaties box provides a full listing of agreement types, with links to each treaty topic.
  • Treaty Primer now featured in the Expert Analysis section.
  • Treaty Comparison Tool and Multilateral Instrument Tool can both be found under Practice Tools.

Treaty Comparison Tool
Allows you to assess and evaluate articles from different international treaties -- within one centralized location. Country choices no longer disappear and new text appears if a treaty doesn't address a specific topic. 

International Forum Landing Page
Makes it easier to search and browse for current and past topics. It shows a comparative study of international tax law issues. Each topic includes a fact pattern and detailed responses from expert practitioners based in 19 major industrial countries. 

Transfer Pricing Forum Landing Page
Presents a comparative study of transfer pricing issues. Each topic includes a question and detailed responses from expert practitioners based in over 20 major industrial countries.

Special Reports

Opportunity Zones Proposed Regulations Roadmap
Proposed regulations provided guidance relating to the type of gains that may be deferred, the time by which deferred gain must be invested, and the manner in which investors may elect to defer specified gains. Included is a definition of qualified opportunity zone business property. This roadmap highlights key takeaways from the proposed regulations. 
Download your copy today.

Base Erosion and Anti-Abuse Tax Proposed Regulations Roadmap
In 2017 §59A was added to the Code, changing the way certain outbound payments made by certain taxpayers with substantial gross receipts were taxed. In December 2018 proposed regulations under §59A contained guidance regarding the determination of the tax on base erosion payments rules for determining if a taxpayer was subject to the BEAT rules for determining the amount of base erosion payments and base erosion tax benefits. Reference this detailed roadmap for additional guidance.
Download your copy today.

Section 199A Regulations Roadmap
In January 2019, regulations were released that finalized the August 2018 proposed regulations with some modifications. This roadmap highlights significant differences between the August 2018 proposed regulations and the final regulations, along with additional changes in the January 2019 proposed regulations. 
Download your copy today.

Jumpstart Podcasts

Fine Tuning an Estate Plan After Death -- Part 2 The second in a two-part podcast about how to maximize the benefit to beneficiaries through income tax planning.

Hybrid Arrangements (267A) This podcast is a discussion surrounding the new proposed regulations under 267A conducted by Bloomberg Tax experts.

Trust Planning with §199A This podcast covers the impacts of §199A as it relates to existing and future trust-related arrangements.

Executive Compensation Changes Impacts of recently issued IRS guidance made by the 2017 tax act to deferred compensation.

January 2019

Product Enhancements

Tax Reform Guidance Watch

Provides the latest information on guidance and proposed regulations issued by the IRS to implement provisions under the 2017 tax act through our roadmaps, Daily Tax Report® articles, proposed and final regulations, and podcasts posted alongside key IRC and Tax Management Portfolios.

Quick Tax Reference 2018/2019

Includes tables, charts, and schedules that incorporate the changes from the 2017 Tax Act (Pub. L. No. 115-97) and the Bipartisan Budget Act of 2018 (Pub. L. No. 115-123) in PDF format. A print copy was mailed to subscribers.

Expand Page Option

Allows the reader to have an easier, more comprehensive reading experience. The Expand Page Option instantly opens the document in a wider view, eliminating white space on either side of the page.

Sales & Use Tax Rate Finder

Brings you timely and accurate sales and use tax rate information for every taxing jurisdiction in the U.S. (including Puerto Rico) and Canada. The latest enhancements include:

  • Improved search results using street address or Zip + 4 code
  • More detailed rate information in one place to save you time.
  • Customizable fields, export and import capabilities, and ability to set up favorites.
  • Rate-change emails that include Excel files for easy firmwide referencing.

Related-Content BNA Pick -- U.S. Income Tax Treaties

Brings resources together in one place to improve users' ability to cross-reference to the explanatory content most relevant to them. Those researching in-force U.S. income tax treaties in English can now conveniently access documents like protocols, technical explanations, committee reports, and memoranda from the Related-Content BNA Pick on the right side of the page.


2018 Tax and Accounting Enhancements

To help you navigate the ever-shifting landscape of federal, state, and international taxation and financial accounting, Bloomberg Tax has added even more content, features, and practice tools. Below is a summary of some of the enhancements made in 2018 -- all with the goal of equipping you with the resources you need to provide exceptional tax guidance and stay up-to-date on tax reform developments as they unfold.

Tax Reform

Legislative efforts are underway to expand upon the changes made by the 2017 federal tax act, but the bills will require 60 votes to pass in the Senate -- and thus the support of at least some Democrats. The Treasury Department and the IRS are also playing a major role in shaping the impact of tax reform legislation through the issuance of regulations and other guidance. Our editors, reporters, and network of leading practitioners are tracking, reporting, and providing insights and analysis on developments as they unfold.

Tax Reform Watch

Provides the latest information about tax reform legislation through our Tax Reform Roadmap and Tax Reform Guidance Roadmap , Daily Tax Report® articles, the latest bill text, FAQs, client letters, podcasts, and state tax impact.

Federal Tax

Bloomberg Tax Internal Revenue Code

Bloomberg Tax is pleased to offer full text of the current Internal Revenue Code free of charge. Whether on our free site or on our product, our IRC is updated continuously and includes Editor's Notes written by expert staff at Bloomberg Tax indicating when a section has been repealed or when there is a delayed effective date, allowing you to see the current and future law. Links to related code sections make it easy to navigate within the IRC.

Bloomberg Industry Group Legislative History

Access to our exclusive legislative history, covering the period from 1959 to the present. Appearing as a button in the Internal Revenue Code, BNA Legislative History provides exclusive analysis of how Congress has amended specifi code sections over time.

Quick Tax Reference Guides

Tables, charts, and schedules that incorporate the changes from the 2017 Tax Act (Pub. L. No. 115-97) and the Bipartisan Budget Act of 2018 (Pub. L. No. 115-123).

2019 Federal Tax Guide

A must-have reference for preparing 2018 individual and business tax returns for the year ahead. The 2019 Federal Tax Guide covers taxation of individuals, corporations, estates and trusts, and pass-through entities.

IRC 199A Deduction Calculator

Quickly determine the deduction under Section 199A for 20% of the Qualified Business Income (QBI) of pass- through entities, such as partnerships and S corporations, with our new tool.

Client & IRS Response Letters

Access our library of Client & IRS Response Letters. For each IRS Response Letter, we explain the purpose, taxpayer action required, samples of each letter, and links to additional resources.

Practice Guides & Checklists

Gain practical guidance on important tax topics and transactions, including new Practice Guides on the 199A deduction, year-end tax planning strategies, estate planning, partnership, and more. Each guide reviews the most important considerations and provides links to key Portfolios, primary sources, and a checklist.

State Tax

Wayfair Coverage

States in recent years have enacted a frenzy of new laws and regulations to capture more tax revenue from online sales. However, they have confronted one primary hurdle in doing so: the much-maligned "physical presence" rule from the U.S. Supreme Court's 1992 Quill Corp. v. North Dakota decision.

Sales and Use Tax Navigator

Now includes nexus rules for online marketplace sellers that might not otherwise be covered by states' economic or affiliate nexus standards.

Corporate Income , Pass-Through Entities , and Individual Income Tax Navigators

The Corporate Income, Pass-Through Entities, and Individual Income Tax Navigators now include specific tax return due dates for tax years 2015 to present; conformity to the federal due date change and other compliance issues; and short period return filing information for corporations and pass-through entities.

Pass-Through Entity Navigator

Now includes states' guidance on the treatment of I.R.C. §199A on the deduction for qualified business income and I.R.C. §965 on the transition tax on deferred foreign income.

Corporate Income Tax Navigator

Now includes states' guidance on the treatment of I.R.C. §951A on global intangible low-taxed income (GILTI) and foreign derived intangible income (FDII) and I.R.C. §965 on the transition tax on deferred foreign income.

Puerto Rico

State tax professionals have expanded access to the Puerto Rico library, which includes a Portfolio, Country Guide, and VAT Navigator chapters and translated PDF tax forms.

International Tax

Country Guides

The Global Tax Guide has a new name: Country Guides . This change better represents the comprehensive scope of our international content and makes it easier for you to navigate to the compliance information you need for your research.

BEAT Calculator

The Bloomberg Tax BEAT Calculator saves time by enabling you to easily compute the BEMTA by entering the components of the calculation into an easy-to-follow interface. You can input any relevant credits, various streams of income, and deductions into preset fields, which are readily available for editing to see the impact changed values would have on your minimum tax.

MLI Watch

Stay current on the OECD's Multilateral Instrument with the BEPS Tracker, MLI tool, and treaty alerts. The clearinghouse MLI Watch page features these tools, plus practitioner commentary, links to OECD content, and the latest synthesized texts from signatory countries.

News

News has a fresh look on Bloomberg Tax that makes it easier to find, read, and share articles. The enhanced presentation of the Daily Tax Report []{.underline} and other tax publications features a modern display of news stories as well as new options for filtering tax topics and customizing your emails. The updated look makes it easier to view articles on mobile devices, share via social media, and navigate to other Bloomberg Tax publications.

Federal Tax Developments Tracker

Stay up-to-date with new developments with our powerful Federal Tax Developments Tracker. This new tool provides comprehensive coverage, concise summaries and direct links to dozens of federal developments each day, including IRS agency documents, regulations, tax cases, and much more.

Payroll

Full domestic and international Payroll content is now available on Bloomberg Tax. The Payroll Tab features the practical and comprehensive Payroll Administration Guide, daily news and developments, interactive charts, and coverage for all 50 states and more than 90 countries. It also delivers strategic white papers, webinars, and custom research designed to help professionals carry out their payroll responsibilities.

Financial Accounting

Bloomberg Financial Accounting has moved to a great new platform designed for accounting professionals. Available to Bloomberg Tax subscribers, Financial Accounting features nearly 90 Portfolios, U.S. GAAP Summaries, Fast Answers, daily news and developments, an SEC EDGAR search tool, and topic pages

for hot topics such as accounting for income taxes, revenue recognition, and leasing. All content is searchable and linked to standard-setter content, including FASB, AICPA, and IASB.

As always, we welcome and encourage your feedback. Please send your comments and suggestions to bnatax@bna.com