Oklahoma Simplified Remote Seller Registration Open
The Oklahoma Tax Commission alerts remote sellers that simplified remote seller registration is now available. Retailers making a certain level of Oklahoma sales must now remit sales tax to the...
View ArticleOregon Allows Listed Jurisdiction Subtraction
Oregon adopted a temporary regulation allowing corporate taxpayers a subtraction for some listed jurisdiction income. Why is the modification necessary? Oregon required corporate taxpayers to include...
View ArticleTexas Offers Extensions, Exemptions for Taxpayers in Counties Declared...
Texas Governor Greg Abbott’s disaster declaration provides tax relief for affected taxpayers. List of Disaster Area Counties The disaster declaration issued for flooding and severe weather affects 18...
View ArticleBe Aware of Changes for the 2019 Tax Filing Season – 10 Business Day Rule for...
As the 2019 tax filing season approaches, it promises to be one with many changes for you and your clients. While tax reform has been in the forefront of everyone’s mind, there is also a new state...
View ArticleProposed Regs Address Investments in Qualified Opportunity Funds (NPRM...
The IRS has issued proposed regulations relating to the deferral of gain under Code Sec. 1400Z-2 for investments in a qualified opportunity fund. The provision, which was as added by the Tax Cuts and...
View ArticleWeekly Report from Washington, D.C.
During the week of October 15, 2018, the House Republican’s top tax writers introduced a bipartisan bill to prevent duplicative taxation on digital goods and services. The IRS provided additional...
View ArticleMassachusetts Issues IRC Sec. 965 Repatriation Income Schedule
Massachusetts issued a draft of Schedule FCI that some corporate excise taxpayers will need to file to report IRC Sec. 965 income. DOR News, Massachusetts Department of Revenue, October 18, 2018 Login...
View ArticlePennsylvania Includes Satellite TV Provider’s Receipts in Sales Factor Based...
A satellite television provider was required to include: – satellite equipment in its property factor based on location of subscribers; and – receipts from sales of broadcast satellite television...
View ArticleIdaho Extends Tax Deadlines for Hurricane Michael
The Idaho State Tax Commission has issued a press release informing taxpayers that the 2017 tax filing and payment deadlines for victims of Hurricane Michael in Florida, Georgia and elsewhere have been...
View ArticleTrump: New 10 Percent Middle-Income Tax Cut Plan Expected by November
A new tax cut plan for middle-income taxpayers is expected to surface by November, President Donald Trump has said. “We’re giving a middle-income tax reduction of about 10 percent,” Trump told...
View Article10 Percent Middle-Income Tax Cut in the Works, Brady Says
The Trump administration and congressional Republicans are working together on crafting a new, 10 percent middle-income tax cut. The House’s top tax writer has said that a new 10 percent tax cut...
View ArticleAdministration Proposes to Give Employers Freer Hand in Structuring Health...
The Trump Administration is proposing a new set of rules enabling employers to use health reimbursement arrangements to reimburse employees for the purchase individual insurance coverage, including...
View ArticleIncome Tax Nexus Legislation Introduced in Congress
A bill introduced in the U.S. House of Representatives would: – establish a federal physical presence nexus standard for state income and business taxes; – expand the application of P.L. 86-272 to...
View ArticleTexas Offers Tax Relief for Additional Counties Declared Disaster Areas
More Texas taxpayers are eligible for tax relief after their counties were named disaster areas. The disaster declaration was issued for flooding and severe weather in October 2018. Additional Counties...
View ArticleReconstructing Records After Disaster Strikes
After a disaster, taxpayers may need to reconstruct records. Records will help taxpayers prove their losses for tax purposes, getting federal assistance or insurance reimbursement. Reconstructing Tax...
View ArticleNew Jersey Issues Additional Guidance for IRC Sec. 965 Income
The New Jersey Division of Taxation has updated its website to include additional guidance on reporting IRC Sec. 965 income, in addition to other corporation business tax changes. The website can be...
View ArticleTrump Signs Legislation Expanding Religious Exemption for ACA Individual Mandate
President Donald Trump has signed bipartisan legislation, which expands a religious exemption for the Patient Protection and Affordable Care Act’s (ACA) (P.L. 111-148) individual mandate. The exemption...
View ArticleTrump: 10 Percent Middle-Income Tax Cut Could be Unveiled This Week
President Donald Trump has said that a 10 percent middle-income tax cut resolution could be unveiled as early as this week. Although the House’s top tax writer has confirmed the tax cut is in the...
View ArticleIowa Issues IRC Sec. 965 Guidance
Iowa has issued guidance for taxpayers because it does not conform to IRC Sec. 965 for the 2017 tax year. Does Iowa Allow the Sec. 965 Participation Exemption? Iowa taxpayers cannot reduce their income...
View ArticleIowa Issues Domestic Production Activities Deduction Guidance
Iowa is providing guidance to taxpayers about the federal Domestic Production Activities Deduction. Iowa does not conform to the federal repeal of IRC Sec. 199 for 2018. Taxpayers will be able to claim...
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