Media Mentions
2006
Steven Hannes was mentioned in the March 27 issues of Legal Times about being elected president of the USA Branch of the International Fiscal Association (IFA) and chair of its executive committee.
Steven P. Hannes, International Tax, Tax
2004
Steven Hannes was quoted in the January 15 Daily Tax Report on the IRS’s proposed Section 482 transfer pricing regulations. In particular, McDermott among five other organizations voiced their complaints to the IRS that the proposed rules place too much emphasis on residual profit method. The final rules, Mr. Hannes said, “should take a more appropriate approach, consistent with [Organization for Economic Cooperation and Development] principles, with respect to the very limited circumstances in which the [residual profit split] is likely to be the most reliable method.
Steven P. Hannes, Tax, Transfer Pricing
Steven Hannes was quoted in Tax Notes on January 12 on the proposed simplified cost-based method (SCBM), which if incorporated into final transfer pricing services regulations will replace the current cost safe harbor. Mr. Hannes commented that the SCBM should be substantially revised to “unqualifiedly allow cost-only, without any benchmarking, for as wide a group of services, including for example administrative and logistics coordination services, as is possible.” He continued by suggesting that the revised regulations preclude some R&D services from being entitled to cost-only compensation and that the IRS promulgate safe harbor ranges of results for categories of services where cost-only is inappropriate. Mr. Hannes’ comments were also included in Tax Notes Today on January 7.
Steven P. Hannes, Tax, Transfer Pricing
2003
On December 18, 2003, Tax Notes Today reported that Steven Hannes criticized the proposed transfer pricing regulations and provided the IRS a detailed list of suggestions and comments for possible improvements.
