All States ~ Miscellaneous Tax: Webinar: Using CCH® IntelliConnect to Conduct...
CCH Tax Day Report Wolters Kluwer is hosting a live two-hour webinar, Using CCH® IntelliConnect to Conduct State Tax Research, on Thursday, October 13, 2016, at 1 p.m. Eastern; noon Central; 11 a.m....
View ArticleAll States ~ Corporate Income Tax: U.S. Supreme Court Declines to Review...
CCH Tax Day Report The U.S. Supreme Court denied a petition to review a California Supreme Court decision holding that multistate corporate taxpayers may no longer elect to use the Multistate Tax...
View ArticleIndiana ~ Multiple Taxes: Interest Rates for 2017 Increased
CCH Tax Day Report The Indiana Department of Revenue has released a notice stating that the rates of interest for an underpayment of tax and an excess tax payment for calendar year 2016 will increase...
View ArticleMaine ~ Corporate, Personal Income Taxes: Due Date for PTE Withholding...
CCH Tax Day Report Maine Revenue Services (MRS) amended its rule governing withholding tax returns and payments to move the filing due date for pass-through entity withholding returns from April 30 to...
View ArticleIRS Proposes Increased User Fee for Offers in Compromise (NPRM REG-108934)
CCH Tax Day Report The IRS has proposed an increase in the user fee for processing a taxpayer’s offer in compromise. The current user fee is $186 and the IRS proposes to increase the fee to $300 for...
View ArticleCalifornia ~ Corporate Income Tax: Amendments to Market-Base Sourcing...
CCH Tax Day Report The California Franchise Tax Board has amended its corporation franchise and income tax regulation concerning market-based sourcing for sales other than sales of tangible personal...
View ArticleIllinois ~ Sales and Use Tax: Administrative Remedies Must Be Exhausted on...
CCH Tax Day Report A nonresident corporation must exhaust Illinois administrative remedies on its claim that it did not have sales and use tax nexus with Illinois before seeking a judicial...
View ArticleFinal and Temporary Regulations Extend Prior-Year Disaster Loss Election Due...
CCH Tax Day Report The IRS has issued final and temporary regulations extending the due date for the election to deduct in the prior tax year a loss attributable to a federally-declared disaster, and...
View ArticleIRS Issues Final and Temporary Earnings Stripping Regulations Under Code Sec....
CCH Tax Day Report The IRS has issued final and temporary regulations under Code Sec. 385 that establish threshold documentation requirements that must be satisfied in order for certain related-party...
View ArticleArizona ~ Sales and Use Tax: Substantial Nexus for Transaction Privilege Tax...
CCH Tax Day Report The Arizona Department of Revenue has issued a ruling determining that any resident of Arizona who maintains an inventory warehouse or place of business in Arizona, or maintains an...
View ArticleHawaii ~ Corporate, Personal Income Taxes: Temporary Motion Picture, Digital...
CCH Tax Day Report The Hawaii Department of Taxation has adopted new temporary rules relating to the corporate and personal income tax credit for motion picture, digital media, and film production. The...
View ArticleNew Jersey ~ Corporate Income Tax: 100% of Interest and Interchange and 50%...
CCH Tax Day Report The New Jersey Tax Court found that receipts from interest and interchange generated from New Jersey cardholder accounts were fully allocable to New Jersey under New Jersey’s...
View ArticleTexas ~ Corporate Income Tax: Comptroller Addresses Apportionment of Sale of...
CCH Tax Day Report The Texas Comptroller issued a private letter ruling regarding the proper apportionment of gross receipts from the sale of substantially all of an entity’s assets. The selling entity...
View ArticleLawmakers Weigh In on Final Debt-Equity Regulations
CCH Tax Day Report Lawmakers from both parties have reacted to the package of regulations under Code Sec. 385 released late on October 13 (T.D. 9790, NPRM REG-130314-16; TAXDAY, 2016/10/14. I.9). The...
View ArticleWeekly Report from Washington, D.C.
CCH Tax Day Report Congress remained in recess until after the November elections. The Treasury Inspector General for Tax Administration (TIGTA) found that the IRS needed to improve its ability to...
View ArticleMinnesota ~ Multiple Taxes: Interest Rates Increase for 2017
CCH Tax Day Report The Minnesota Department of Revenue has announced that the interest rate on delinquent state tax payments, which is calculated from the date the tax is due until it is paid in full,...
View ArticleNew York ~ Personal Income Tax: QEZE Credit Denied as Taxpayer Failed to...
CCH Tax Day Report A New York taxpayer was denied a qualified empire zone enterprise (QEZE) real property tax credit on his personal income tax return because he failed to establish his ownership...
View ArticleSouth Carolina ~ Multiple Taxes: Department Specifies Hurricane Matthew Relief
CCH Tax Day Report The South Carolina Department of Revenue has announced filing and payment relief to victims of Hurricane Matthew in certain South Carolina counties. Tax filing and payment deadlines...
View ArticleGOP Lawmaker Questions IRS’s Final Debt-Equity Regulations
CCH Tax Day Report A Republican lawmaker is joining GOP colleagues in voicing concerns over the package of regulations under Code Sec. 385 released late on October 13 (T.D. 9790, NPRM REG-130314-16;...
View ArticleTax Relief For Victims of Hurricane Matthew Expanded; Parts of Four States...
CCH Tax Day Report Victims of Hurricane Matthew in parts of North Carolina, South Carolina, Georgia and Florida may qualify for tax relief from the IRS. Individuals who reside or have a business in...
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