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IMA Tax Policy Blog

2016 year-end tax considerations for businesses

Legislative changes and other tax concerns that may impact planning — RSM INSIGHT ARTICLE | October 13, 2016

2016-biz-tax-guideTax planning was a little more settled in 2016 than it has been for the past several years. As a result of the passage of significant tax legislation at the end of 2015 dealing with the so-called tax extenders, businesses do not find themselves guessing what the rules might be for such key provisions of tax law as the research and development (R&D) tax credit and depreciation. At the same time, during this past year states and local governments continued to change tax rules around the country while international tax rules continued their never-ceasing march toward greater complexity.

As we head toward the end of 2016, speculation over tax extenders has been replaced by speculation over fundamental tax reform. The presidential campaign produced a wide range of tax legislative proposals. In addition, the House Republicans released a significant series of tax proposals in June. All this makes the future of the tax law cloudier than most would like, and projecting what Congress and the new administration might agree to do in 2017 is anyone’s guess.

Given these changes and the uncertainty of the future, we’ve compiled these tax considerations designed to help companies make informed decisions related to year-end tax planning. In an increasingly complex and uncertain world, planning becomes all the more important.

Our 2016 year-end guide includes information on the following (and more):

Deduction and revenue planning

New accounting method procedures

Affordable Care Act updates

Permanent and expiring tax provisions

New filing deadlines

Corporate and transactional planning

Cost-sharing agreements

Intercompany loan planning

BEPS and country-by-country update

New partnership audit rules

Shared services consolidation

Credits and incentives compliance

Download the 2016 year-end tax considerations for businesses guide today.


2016 year-end state and local tax considerations

Year-end payroll reconciliations – organize first!


FATCA and other year-end global information reporting considerations

This 2016 year-end review is a collaboration of our Washington National Tax team and was curated by Trina Pinneau. Trina Pinneau, Manager — Trina consults on a range of federal tax credits and incentives issues and serves as an instructor for RSM’s tax training programs. Reach her at