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.

Case Studies

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