Tax-Related Citrus Crop Bill Approved by House
CCH Tax Day Report The House on September 21 approved the Emergency Citrus Disease Response Bill (HR 3957 ) by a 400-to-20 vote. The bill, sponsored by Rep. Vern Buchanan, R-Fla., and passed the Ways...
View ArticleAll States ~ Multiple Taxes: New Issue of State Tax Review Available
CCH Tax Day Report A new issue of State Tax Review is now available. In addition to other state and local tax news, this week’s issue includes the following: — Delaware’s new tax credit for hiring...
View ArticleAll States ~ Sales and Use Tax: Webinar: Manufacturers: Sales and Use Tax Issues
CCH Tax Day Report Wolters Kluwer is hosting a live two-hour webinar, Manufacturers: Sales and Use Tax Issues, on Wednesday, September 28, 2016, at 1 p.m. Eastern; noon Central; 11 a.m. Mountain; 10...
View ArticleFlorida ~ Property Tax: Voters Approve Solar Energy Exemption Authorization
CCH Tax Day Report At an August 30, 2016 special election (TAXDAY, 2016/03/29, S.9 ), Florida voters approved constitutional changes that would authorize a property tax exemption equal to the assessed...
View ArticleMichigan ~ Sales and Use Tax: Bad Debt Deduction Was Properly Denied
CCH Tax Day Report Finance companies that were assigned rights under installment contracts by automobile dealerships were not entitled to claim a bad debt tax credit on defaulted contracts as they...
View ArticleLawmakers Introduce Bills to Overturn Proposed Code Sec. 2704 Valuation...
CCH Tax Day Report The Protect Family Farms and Business Bill was introduced by Rep. Warren Davidson, R-Ohio, on September 21. The measure would nullify the proposed Code Sec. 2704 regulations that...
View ArticleHouse Approves Three Tax Bills; Olympic Tax Bill Heads to White House
CCH Tax Day Report The House approved three tax-related bills on September 22. Legislation that excludes Olympic and Paralympic winnings from federal taxation now heads to President Obama’s desk for...
View ArticleApplicable Terminal Charge and SIFL Rates for Determining Value of...
CCH Tax Day Report The IRS has released the applicable terminal charge and the Standard Industry Fare Level (SIFL) mileage rates for determining the value of noncommercial flights on employer-provided...
View ArticleAll States ~ Sales and Use Tax: Webinar: Manufacturers: Sales and Use Tax Issues
CCH Tax Day Report Wolters Kluwer is hosting a live two-hour webinar, Manufacturers: Sales and Use Tax Issues, on Wednesday, September 28, 2016, at 1 p.m. Eastern; noon Central; 11 a.m. Mountain; 10...
View ArticleAll States ~ Personal Income Tax: U.S. House Passes Mobile Workforce State...
CCH Tax Day Report On September 21, 2016, the U.S. House passed the Mobile Workforce State Income Tax Simplification Act of 2015, which would limit states’ authority to impose personal income taxes on...
View ArticleFlorida ~ Corporate Income Tax: Taxpayer Permitted to Cease Filing...
CCH Tax Day Report A taxpayer whose affiliated group ceased to exist by operation of law was granted permission to cease filing Florida consolidated tax returns for corporate income tax purposes....
View ArticleMichigan ~ Miscellaneous Tax: Taxation of Medical Marihuana Authorized
CCH Tax Day Report A tax is imposed on a medical marihuana provisioning center in Michigan at a rate of 3% of gross retail receipts. The tax must be remitted 30 days after the end of the calendar...
View ArticleWashington ~ Sales and Use Tax: Taxpayers Advised on Class Action Settlement
CCH Tax Day Report The Washington Department of Revenue has reminded taxpayers that state law does not permit the department to provide direct sales tax refunds to consumers in the context of class...
View ArticleNew Jersey ~ Personal Income Tax: Square Corners Doctrine Precluded Taxation...
CCH Tax Day Report In the first of three related cases, the New Jersey Tax Court found that the retroactive extension of New Jersey’s gross (personal) income tax to the taxpayers’ lottery winnings was...
View ArticleObama Signs Stop-Gap Spending Bill; Keeps IRS Open through Mid-December
CCH Tax Day Report President Obama signed a stop-gap spending bill on September 29 to avoid a shutdown of the IRS and the federal government after September 30. The Continuing Appropriations and...
View ArticleSenators Introduce Bipartisan Legislation Limiting IRS’s Civil Asset...
CCH Tax Day Report Bipartisan legislation has been introduced in the Senate to require the IRS to show probable cause that funds relating to structuring transactions under the Bank Secrecy Act (BSA)...
View ArticleSenate Republicans Ask Lew to Withdrawal Code Sec. 2704 Proposed Regulations
CCH Tax Day Report A group of Senate lawmakers have asked Treasury Secretary Jack Lew not to move forward with Code Sec. 2704 proposed regulations released in August (NPRM REG-163113-02, I.R.B....
View ArticleEmployee Plans Compliance Resolution System Updated (Rev. Proc.2016-51)
CCH Tax Day Report The IRS has released a new procedure that updates the Employee Plans Compliance Resolution System (EPCRS) for sponsors of retirement plans that are intended to satisfy the...
View ArticleAll States ~ Corporate, Personal Income Taxes: Webinar: Multistate Income Tax...
CCH Tax Day Report Wolters Kluwer is hosting a live two-hour webinar, Multistate Income Tax and Passthrough Entities, on Tuesday, October 4, 2016, at 1 p.m. Eastern; noon Central; 11 a.m. Mountain; 10...
View ArticleArizona ~ Multiple Taxes: Emergency Regulations Regarding Tax Recovery...
CCH Tax Day Report For purposes of the taxes that it administers, the Arizona Department of Revenue has issued regulations governing the tax recovery program that will run in the state from September...
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