Public Sector

Who is Mazars?

We are pleased to announce an exciting development for the new year! As of January 1, 2017 we have officially changed our name to Mazars USA LLP. As the world’s 11th largest accounting firm, the Mazars name is renowned around the globe. Our new name reflects our expanded international capabilities and reinforces our standing as […]

New Jersey Sets Transition Guidelines for Sales Tax Reduction

As reported in our previous alert, effective January 1, 2017, New Jersey reduced its sales tax rate from 7% to 6.875% statewide. The state has set guidelines to aid in the transition which may apply to your organization. Sales, Charges, & Fees If tangible personal property (TPP) or specified digital products were sold and delivered […]

NY Requires Driver’s License Numbers on E-Filed Tax Forms

On January 10, 2017, the New York State Department of Taxation and Finance, in an effort to combat tax-related identity theft, has reported that taxpayers will be required to provide driver’s license numbers along with their electronically filed tax returns. Beginning with 2016 e-filed returns, individual taxpayers that have a driver’s license will be required […]

New York Mandatory First Installment & Metropolitan Transportation Business Tax Surcharge

New York State and New York City have implemented changes to the mandatory first installments of estimated corporate business tax, including an increase in the Metropolitan Transportation Business Tax Surcharge. Mandatory First Installments This modification is to the mandatory first installment (MFI) of estimated business tax for corporate tax purposes. For all mandatory first installments […]

Updates on FINCEN and IRS International Reporting Requirements

There have been recent updates regarding the filing requirements for the following forms: FinCEN Form 114 (Report of Foreign Bank and Financial Accounts) – automatic extension granted Form 8938 (Statement of Specified Foreign Financial Assets) – specified domestic entities now required to file Form 8938 Form 5472 (Information Return of a 25% Foreign-Owned U.S. Corporation […]