US Tax
KNAV offers one of the broadest spectrums of tax planning & compliance services for firms of our size and brings unique experience & insights for larger multinational corporations.
– Preparing and filing complex federal tax returns
– Assisting the corporates navigating through the complex provisions and allied calculations introduced by TCJA such as GILTI, FDII, BEAT and new 163(j).
– Evaluating special deductions and credits such as 168(k) bonus depreciation, Research & Development credit, Foreign tax credit, etc., which can help reduce the overall effective tax rate.
– Conducting Earnings and Profits studies to enable corporations assess their ability to pay dividend,
– Representing before Internal Revenue Service
– Assisting in various miscellaneous federal filings such as withholding tax returns, 1099 filings, etc.
– Preparing and filing of state and local income tax returns
– Studying multi-state nexus and revenue apportionment
– Evaluating various state specific deductions and credits which may be helpful in attaining tax efficiency
– Advising on sales and use tax nexus applicability and compliances especially in the light of state law changes post the Wayfair decision.
– Representation for state and local income tax and sales & use tax audits
– Assisting in various miscellaneous state and local filings such as franchise tax returns, sales and use tax returns, property tax returns, etc.
– Analyze and quantify tax assets and tax exposures through a detailed tax due diligence,
– Consulting on optimal structuring for acquisitions or dispositions
– Advising on deductibility of various transaction costs
– Analyzing restrictions on post-acquisition utilization of net operating loss and other tax attributes
– Analyzing available elections related to acquisition (such as 338 elections) to determine the most tax efficient manner of structuring an acquisition or disposition, especially in the light of TCJA.
– Advising on optimum acquisition vehicle & funding structure.
– Developing transfer pricing global tax plan for corporates,
– Preparing transfer pricing documentation in accordance with regulations of specific countries,
– Providing litigation support in case of transfer pricing assessments.
– Assistance with/preparation of current and deferred tax calculations (quarterly and annual)
– Identifying uncertain tax positions in current and prior years and measuring these uncertain positions
– Assistance with/preparation of financial statement footnotes and related income tax disclosures
– Developing tax basis balance sheet
– Communicating with external auditors.
