Pennsylvania Issues Hotel Occupancy Tax Notice for Booking Agents
For hotel occupancy (sales and use) tax purposes, the Pennsylvania Department of Revenue has issued a notice informing booking agents that effective January 22, 2019, a booking agent that facilitates...
View ArticleConservation Purpose Not Protected in Perpetuity for Two Tax Years;...
A partnership was not entitled to charitable contributions deductions for two easement deeds because the conservation purpose of their donated easement was not protected in perpetuity and,...
View ArticleLouisiana Issues Guidance to Remote Sellers
For sales and use tax purposes, the Louisiana Department of Revenue has released an information bulletin providing guidance to remote sellers. The bulletin defines “remote seller” as a seller who sells...
View ArticleSome States Treat 529 Amounts Used for K-12 Tuition as Nonqualified Withdrawals
Some states do not follow the new federal law that allows 529 plan withdrawals to be used for K-12 tuition expenses. This creates a risk that taxpayers may make nonqualified withdrawals. Federal law...
View ArticleMassachusetts Adopts Emergency Small Business Energy Exemption Rule
Massachusetts adopted an emergency regulation on the sales tax exemption for energy purchased by qualifying small businesses. It also issued a proposed regulation identical to the emergency regulation....
View ArticleWisconsin Issues Questions and Answers on 2018 Tax Changes
Wisconsin has issued a 2018 tax update with a detailed set of questions and answers on numerous income and sales tax topics, including Internal Revenue Code conformity, the college savings credit, and...
View ArticleBig Savings on Books to Get You Ready for Tax Season
Are you ready for tax season? Most provisions of the Tax Cuts and Jobs Act, which Congress passed in 2017, will impact your work as you begin to file 2018 returns. The new year is just around the...
View ArticleFinal Regs Update, Streamline Public Approval Requirements for Private...
Final regulations update and streamline the public approval requirements for tax-exempt private activity bonds issued by state and local governments. The regs reflects statutory changes; reduce the...
View ArticleSafe Harbors Provided for Business Deduction of Payments Made in Exchange for...
The IRS has provided safe harbors for business entities to deduct certain payments made to a charitable organization in exchange for a state or local tax (SALT) credit. A business entity may deduct the...
View ArticleWeekly Report from Washington, D.C.
During the week of December 24, the IRS issued final regulations implementing the centralized partnership audit regime. The IRS also made significant changes to its processes and procedures to address...
View ArticleWashington Supreme Court Rejects Property Tax Ballot Objection
The Washington Supreme Court reversed the Court of Appeals decision allowing the taxpayer’s claim challenging the ballot title for a county property tax increase because the claim was subject to RCW...
View ArticleConnecticut Issues Tax Preparer Permit Requirement Reminder
The Connecticut Department of Revenue Services (CTDRS) has issued a press release reminding taxpayers about tax preparer permit requirements. The press release states that the taxpayers who will...
View ArticleMontana Eliminates Form 2EZ and Paper Form 2EC
Certain Montana personal income tax forms have been revised or discontinued. Individual Income Tax Forms The Montana Individual Income Tax Return (Form 2EZ) has been discontinued. In addition, Form 2EC...
View ArticleInterim Guidance Issued on Excise Tax Owed on Excess Remuneration and...
Interim guidance on the excise tax payable by exempt organizations on remuneration in excess of $1 million and any excess parachute payments made to certain highly compensated current and former...
View ArticleRhode Island Increases Gas Tax Rate
The Rhode Island Division of Taxation has announced that based on the required inflation index, the gasoline tax rate will increase from 33 cents per gallon to 34 cents per gallon for the period...
View ArticleForm 1099-R Reporting Changes for Escheated IRAs
When an IRA escheats to a state, the IRA administrator must report the escheatment as a taxable distribution to the IRA owner on Form 1099-R. Whether or not the owner reclaims the funds of the...
View ArticlePartial Federal Government, IRS Shutdown Continues
Top congressional Republicans and Democrats met with President Donald Trump at the White House on January 2 to discuss the ongoing partial government shutdown. Federal appropriations lapsed on December...
View ArticleMaryland Announces 2018 Income Tax Filing Season Changes
Several changes to income tax in Maryland will take effect for the 2018 tax filing season. Maryland Standard Deduction For tax year 2018, the standard deduction is increased to: a maximum value of...
View ArticleOhio Exempts Exports from Use Tax
Ohio enacted a use tax exemption for exports delivered into Ohio temporarily before leaving the country. The exports must be held in Ohio for: temporary storage; and package consolidation. When...
View ArticleWyden Urges IRS to Waive Certain Taxpayer Underpayment Penalties; Partial IRS...
The top ranking Democrat on the Senate Finance Committee (SFC) is urging the IRS to waive certain underpayment penalties for taxpayers during the 2019 tax filing season. SFC ranking member Ron Wyden,...
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