Tax Court Adopts Amended, New Practice Rules (Tax Court Press Release)
The Tax Court adopted amendments to its electronic and filing rules and new rules for passport certification cases. The adopted rules cover petitions and other documents that are currently not filed...
View ArticleMarried Couple’s Quiet Title Action Against IRS Dismissed (Novoselsky DC Wis.)
A lawyer and his wife’s quiet title action against the IRS was dismissed. The taxpayers filed the suit to determine the validity of a federal tax lien on their residence and to determine its priority...
View ArticleIllinois Proposes Regs on Combined Reporting for Unitary Groups
Illinois addresses combined apportionment for unitary groups with members that apportion their income differently. In proposed rules, the Department of Revenue addresses 2017 legislation that permits...
View ArticleUse of Five-Factor Allocation Formula in New Jersey Was Improper
The New Jersey Tax Court granted a corporation business taxpayer’s motion for summary judgment because the use of a proposed five-factor allocation formula was improper. Taxpayer’s Business Activities...
View ArticleSmall Businesses and Other Employers Warned Against Form W-2 Scams (IR-2018-243)
The IRS has issued its fourth reminder as part of “National Tax Security Awareness Week”, urging small businesses and employers to avoid identity theft by watching out for W-2 scams that often surge...
View ArticleIRS Announces Interest Rates for Calendar Quarter Beginning January 1, 2019...
The over and underpayment interest rates for the first quarter 2019. The fourth quarter begins on January 1, 2019. The rates will be: – 6 percent for overpayments, – 5 percent for corporate...
View ArticleCalifornia Amends Regs On Allocation, Apportionment of Partnership Income
California has amended regulations governing the allocation and apportionment of partnership income. Corporate Interests in Partnerships The amendments clarify that the rules for computing net income...
View ArticleColorado Announces Local Sales and Use Tax Rate Changes
The Colorado Department of Revenue has announced local sales and use tax rate changes that are effective January 1, 2019. State-Collected City Sales and Use Tax Changes The following state-collected...
View ArticleSouth Dakota Announces Local Sales and Use Tax Rate Changes
The South Dakota Department of Revenue has announced upcoming local sales tax rate changes that will take effect January 1, 2019. Sales and Use Tax rate Changes Trent will increase its general sales...
View ArticleWisconsin Might Enact Economic Nexus Law
Wisconsin might enact an economic nexus law requiring remote sellers to collect sales and use tax. The law would include thresholds consistent with the Department of Revenue’s economic nexus rule that...
View ArticleIRS Provides Guidance on Tax Benefit for Stock Options and Restricted Stock...
The IRS has released initial guidance on the relatively new Code Sec. 83(i), added by the 2017 Tax Cuts and Jobs Act (P.L. 115-97). Code Sec. 83 generally provides for the federal income tax treatment...
View ArticleWeekly Report from Washington, D.C.
During the week of December 3, the Treasury Inspector General for Tax Administration (TIGTA) released its semiannual report to Congress, highlighting its audits, investigations, inspections and...
View ArticleColorado Extends Grace Period for Economic Nexus Compliance
Retailers will have until June 1, 2019, to follow Colorado’s new sales and use tax changes. The grace period will apply to the new economic nexus and destination sourcing laws. Both in-state and...
View ArticleIowa Explains Tax Reform Bill’s Impact on Remote Sellers
The Iowa Department of Revenue has issued guidance regarding permits, filing requirements and local option sales tax for retailers. The guidance comes in response to SF 2417, the extensive state tax...
View ArticleChanges to Louisiana’s Credit for Personal Income Tax Paid to Other States...
The Louisiana Supreme Court has held that legislation which amended requirements for the personal income tax credit for taxes paid to another state is unconstitutional. Act 109 of 2015 In 2015, the...
View ArticleNew Hampshire Adjusts Business Enterprise Tax Filing Threshold
New Hampshire has released inflation adjusted filing threshold figures for the business enterprise tax. What is the New Filing Threshold? The adjusted filing threshold for tax periods beginning after...
View ArticleWisconsin Might Allow Pass-Throughs to Elect Entity Level Tax
Wisconsin law would allow pass-through entities an election to be taxed at the entity level, under a bill approved by the legislature. If the bill is signed into law, electing pass-through entities...
View ArticleRestaurant Point-of-Service Tablets: How Do States Tax Them?
Mobile point-of-service (POS) tablets, popular at casual, full-service restaurants, are being addressed by states in their sales and use tax laws. Many states now have guidance on how and whether tax...
View ArticleHawaii County Grants Property Tax Relief for Disaster Areas
The Mayor of the County of Hawaii has issued a Sixth Supplementary Emergency Proclamation declaring the continuance of a state of emergency, and extending the period of suspension of the applicability...
View ArticleBrady Introduces Revised Tax, IRS Reform Package
The House’s top Republican tax writer has introduced a revised tax and IRS oversight package. The “tweaked” 253-page package addresses retirement savings, disaster relief, IRS reform, tax law...
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