IRPAC Makes Reporting Recommendations in 2016 Annual Report (IR-2016-140;...
CCH Tax Day Report The Information Reporting Program Advisory Committee (IRPAC) has released its 2016 annual report, which includes recommendations to the IRS. IRPAC was created to provide a forum for...
View ArticleCalifornia ~ Property Tax: BOE Discusses Impact of New Construction in...
CCH Tax Day Report For California property tax purposes, the State Board of Equalization (BOE) advises taxpayers that part of the Assessors’ Handbook is superseded by a 2016 appellate court decision...
View ArticleGeorgia ~ Multiple Taxes: Relief to Hurricane Matthew Victims Updated to...
CCH Tax Day Report The Georgia Department of Revenue has updated its announcement concerning state tax relief to the victims of Hurricane Matthew to include Brantley, Candler, Emanuel, Evans, Jenkins,...
View ArticleOhio ~ Corporate Income Tax: Tax Commissioner Complied by Journalizing Final...
CCH Tax Day Report The Ohio Supreme Court has issued an opinion regarding the commercial activity tax (CAT) credit for unused net operating losses (NOLs) created under the former corporate franchise...
View ArticleJoint Efforts by DOJ, TIGTA, IRS and Others Target Transnational IRS Phone...
CCH Tax Day Report A joint press conference on October 27 detailed cross-governmental, multi-agency collaborative efforts, and progress made, against an ongoing transnational scheme that has targeted...
View Article2017 Inflation Adjustments for Pension Plans, Retirement Accounts Released...
CCH Tax Day Report The 2017 cost-of-living adjustments (COLAs) that affect pension plan dollar limitations and other retirement-related provisions have been released by the IRS. In general, many of the...
View ArticleMinnesota ~ Sales and Use Tax: Local Tax Changes Announced; Local Taxes Fact...
CCH Tax Day Report The Minnesota Department of Revenue announced in an email that, effective January 1, 2017, Cook County, Mille Lacs County, Pine County, and Winona County will each impose a 0.5%...
View ArticleNew Mexico ~ Sales and Use Tax: Franchise Trademark Was Taxable
CCH Tax Day Report A restaurant company was liable for New Mexico gross receipts tax on its franchise licenses of trademarks because the company was engaged in the business of franchising in New...
View ArticleSouth Carolina ~ Corporate Income Tax: DOR Did Not Meet Burden to Require...
CCH Tax Day Report The South Carolina Supreme Court reversed an administrative law court (ALC) decision and held that the standard statutory corporate income tax apportionment formula fairly...
View ArticleFinal PPACA Regulations Regarding Limited Duration Coverage and Other...
The Departments of the Treasury, Labor and Health and Human Services have finalized regulations regarding the definition of short-term, limited-duration insurance for purposes of the exclusion from the...
View ArticleWeekly Report from Washington, D.C.
Congress remains in recess. Lawmakers are scheduled to return after the November elections. The Treasury Inspector General for Tax Administration (TIGTA) issued several reports. The IRS released...
View ArticleAll States ~ Sales and Use Tax: U.S. Supreme Court Asked to Review Florida...
The U.S. Supreme Court has been asked to review a Florida Supreme Court decision upholding the state’s sales and use tax on Internet florist sales. (TAXDAY, 2016/05/31, S.4; TAXDAY, 2016/07/28, S.3)...
View ArticleGeorgia ~ Sales and Use Tax: Taxability of Multi-Level Marketing Transactions...
A letter ruling issued by the Georgia Department of Revenue discusses whether sales and use tax was applicable to fees charged by a taxpayer for renewal of distributor status, online services and...
View ArticleMinnesota ~ Corporate Income Tax: U.S. Supreme Court Asked to Review Decision...
The U.S. Supreme Court has been asked to review a Minnesota Supreme Court decision holding that taxpayers were not permitted to use the Multistate Tax Compact’s three-factor apportionment formula to...
View ArticleMississippi ~ Corporate Income Tax: Limitation on Dividend Received Exemption...
A Mississippi corporate income tax exemption that was allowed only for dividends received from Mississippi subsidiaries (nexus subsidiaries) that did business in the state or filed a Mississippi income...
View ArticleIRS Issues First-Quarter Update to 2016-2017 Priority Guidance Plan...
CCH Tax Day Report The IRS has released its first-quarter update to the 2016-2017 Priority Guidance Plan, which identified 281 projects as priorities. The 2016-2017 plan update added six more projects...
View ArticleMinnesota ~ Tobacco Tax: 2017 Cigarette Sales and Excise Tax Rates Announced
CCH Tax Day Report A Minnesota Department of Revenue notice announces that the cigarette sales tax rate is 55 cents per pack of 20 cigarettes, effective January 1, 2017. For packs of cigarettes with...
View ArticlePennsylvania ~ Miscellaneous Tax: U.S. Supreme Court Will Not Review Realty...
CCH Tax Day Report The U.S. Supreme Court has denied a request for review of a Pennsylvania court’s denial of a taxpayer’s appeal for monetary, declaratory, and injunctive relief against the state...
View ArticleTop 10 Tax Issues for the Rest of 2016
Tax professionals and taxpayers alike should be aware of big changes on the tax horizon, since they can avoid pitfalls later by paying attention to these changes. Learn more about tax issues worth...
View ArticleWolters Kluwer Tax & Accounting CEO Karen Abramson Named as One of the Most...
(NEW YORK, N.Y., November 1, 2016) – Wolters Kluwer Tax & Accounting CEO Karen Abramson has been recognized nationally as among the most powerful women in the accounting profession by CPA Practice...
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