BF_CORPORATE TAX LINK_ Penton Media March 11, 2009 If you want to view this on the web go to: http://enews.penton.com/enews/businessfinance/v/156 ---------------------------------------- ADVERTISEMENT Free Executive Webinar The volume, complexity, and reporting of capitalizable costs, becomes even more complicated post-acquisition when the integration of fixed asset ledgers is required. Attend this free webinar to hear about leading and best practices to address the various factors necessary to meet today's fixed assets reporting requirements after a merger or acquisition. http://www.bnasoftware.com/Products_Services/Forms/Webinars/Post_Acquisition_Integration_of_Fixed_Asset_Ledgers_Webinar.asp ---------------------------------------- TODAY'S ALERTS --Note to CFOs: Hands Off Tax It's time to put a ring fence around the tax function. However, protecting your company's tax accountants from escalating headcount reductions might not be so easy. To view the full article go to: http://bigfatfinanceblog.com/2009/03/10/note-to-cfos-hands-off-tax/ --One More Chance for the NOL Carryback Tax Break A proposal to extend the carryback period for net operating losses (NOLs) has resurfaced in President Obama's budget blueprint after all but vanishing from the stimulus bill. The proposal, one of the juicier business tax breaks in early versions of the stimulus package, lets companies apply NOLs against income that was taxed in the five years before 2008 instead of the two years allowed by current law, raising the prospect of sizable refunds. To view the full article go to: http://bigfatfinanceblog.com/2009/03/06/one-more-chance-for-the-nol-carryback-tax-break/ --Forgiving Income Tax on Debt Obligations The stimulus bill tossed a lifeline to companies that are having trouble meeting their debt obligations by allowing them to defer income tax on forgiven debt over five years and then spread the payments over another five years. Critics argued that the main beneficiaries of the tax break would be private-equity-owned firms that were among the most aggressive borrowers in the years leading up to the credit crisis. Seems that the critics were right. To view the full article go to: http://bigfatfinanceblog.com/2009/03/03/bailing-out-the-buyout-firms/ --A CFO's Recession Survival Kit Here are some steps finance executives can take to help lead their companies through difficult times and become stronger in the process. To view the full article go to: http://businessfinancemag.com/article/reengineering-balance-sheet-0302 --Bono Leaves Ireland to Save Money on Taxes Ireland's economy is in trouble, and now, as if the economic news isn't bad enough, the country has to endure a bout of whining from rock icon Bono, who says he feels "stung" and "hurt" by criticisms leveled at his band for moving its music publishing operation to the Netherlands to reduce its tax burden. To view the full article go to: http://bigfatfinanceblog.com/2009/02/27/another-blow-to-irish-pride/ --Survey: Planning and Forecasting in Tumultuous Times How far ahead can companies peer into the economic gloom? How are budgeting processes holding up in the downturn? Help us find out by participating in this 10-minute survey. If you respond by April 3, you will have the opportunity to enter into a drawing for one of two $100 Visa gift cards. To view the full article go to: http://insidepenton.com/research/er/BF/bfpaf2009.htm --Hear Robert Kaplan Discuss Strategy for Measurable Benefits The 6th Annual BPM Summit, Generating Value Through Visibility, brought together some of the business world's foremost practitioners to explore the transformational role of finance in the enterprise. If you missed the live event, you can still enjoy unlimited access to the audio and slide shows from the keynote speaker presentations at our on-demand archive. To view the full article go to: http://bpmmag.net/summit/2008/ EDITOR'S PICKS --Time for a Tax Tech Tune-up? Tax departments are stretched dangerously thin. Technology can help, but most companies have a long way to go to realize the full benefits of automation, according to a Business Finance/Longview survey report. To view the full article go to: http://businessfinancemag.com/article/time-tax-tech-tune-1006 --GAO: Big U.S. Companies Love Tax Havens U.S. companies are taking advantage of tax havens and "financial privacy jurisdictions," according to a U.S. Government Accountability Office (GAO) report. It found that 83 of the top 100 U.S. companies by revenue have subsidiaries in questionable locations or jurisdictions with strict banking secrecy laws and 63 of the 100 largest publicly traded U.S. Federal contractors reported having subsidiaries in tax havens or financial privacy jurisdictions. To view the full article go to: http://businessfinancemag.com/article/gao-big-us-companies-love-tax-havens-0120 ---------------------------------------- IF YOU WANT TO SPONSOR Business Finance, contact: Publisher , Matthew Weiner, 212-204-4221, mailto:mweiner@penton.com New England, Matt Butcher, 212-204-4240, mailto:matt.butcher@penton.com East/Southeast/Midwest, Jack Walsh, 516-520-0398, mailto:jwalsh@penton.com Texas/Minnesota, Marc Angel, 212-204-4201, mailto:marc.angel@penton.com West, Neil Dant, 949-838-2117, mailto:neil.dant@penton.com MORE ABOUT THIS NEWSLETTER To unsubscribe click here http://email.businessfinancemag.com/webforms/newsletter/unsub/?email=#email#&lid=#list_id#&mid=#message_id# Copyright 2009, Business Finance (a Penton Media Publication) 249 West 17th Street (3rd Floor) New York, NY 10011 http://www.businessfinancemag.com