Supreme Court Docket: Petition for Review Filed in False Tax Return Case
A petition for review was filed in the following case: T. Chang, CA-9—The district court did not abuse its discretion by including the “filing” element along with the knowledge of “falsity” element to...
View ArticleGeorgia Introduces Marketplace Facilitator Economic Nexus Bill
A bill has been introduced in the Georgia Legislature that would enact economic nexus marketplace provisions. Economic Threshold For Marketplace Facilitators Under the bill’s provisions, a marketplace...
View ArticleWashington Rules on Interstate Sales and Use Tax Collection Revised
In response to the U.S. Supreme Court decision in South Dakota v. Wayfair, the Washington Department of Revenue advises taxpayers that its rules on interstate sales of tangible personal property and...
View ArticleU.S. Supreme Court Finds West Virginia Discriminates Against Federal Retirees
West Virginia exempts income that police officers and sheriffs receive from state pension plans from personal income tax. It does not provide the same exemption to pension income received by federal...
View ArticleMarketplace Facilitators Required to Collect and Remit Wyoming Tax
Wyoming has enacted legislation that requires marketplace facilitators to collect sales tax. Marketplace Facilitators Marketplace facilitators must collect and remit sales tax on sales made on its own...
View ArticleThe 91st Academy Awards: Not All Surprises Are in Sealed Envelopes
Not All of the Surprises at This Year’s Oscars Are in Sealed Envelopes Wolters Kluwer Tax & Accounting Takes a Look at Possible Taxes Both the Winners and the Nominees Could Face What: The Academy...
View ArticleBusinesses Must File Cash Transaction Reports for Cash Payments Exceeding...
The IRS has urged businesses to file certain cash transaction reports for cash payments exceeding $10,000. Businesses are required to file Form 8300, Report of Cash Payments Over $10,000 Received in a...
View ArticleU.S. Supreme Court Finds West Virginia Discriminates Against Federal Retirees
West Virginia exempts income that police officers and sheriffs receive from state pension plans from personal income tax. It does not provide the same exemption to pension income received by federal...
View ArticleConnecticut Governor Recommends Sales Tax Expansion, Other Changes
Connecticut Gov. Ned Lamont’s budget for the fiscal 2020-2021 recommends tax changes that include: – expanding the sales tax base; – eliminating the business entity tax; – making the 10% corporate...
View ArticleIllinois Governor Proposes New Tax Revenues
Illinois Gov. J.B. Pritzker’s first budget address proposed new tax revenues that include: – replacing the flat personal income tax rate with a graduated rate structure; – legalizing and taxing...
View ArticleKansas Economic Nexus Bill Introduced
A sales tax bill introduced in the Kansas Legislature contains economic nexus provisions specific to remote sellers and marketplace facilitators. Economic Nexus Thresholds As drafted upon introduction,...
View ArticleCombined Reporting Legislation Introduced in Maryland
Two separate bills have been introduced in the Maryland Senate that would require mandatory combined reporting of corporate income taxes beginning in 2020. While S.B. 76 would mandate combined...
View ArticleRelease of Updated District of Columbia Withholding Table Delayed
For personal income tax withholding purposes, the District of Columbia Office of Tax and Revenue has not issued a new withholding due to the effects of the Tax Cuts and Jobs Act. The office advises...
View ArticleCompliance Monitoring Obligations of Low-Income Housing Credit Agencies...
Final regulations relating to the low-income housing tax credit revise and clarify requirements that low-income housing agencies must follow when conducting physical inspections of low-income units and...
View ArticleKansas Senate Passes TCJA Response
The Kansas Senate has passed legislation responding to the federal Tax Cuts and Jobs Act of 2017 (TCJA) (P.L. 115-97). The legislation makes a number of changes to Kansas corporate and personal income...
View ArticleWeekly Report from Washington, D.C.
During the week of February 18, top Democrats on the House Ways and Means Committee asked the IRS for information on the new individual 2018 Form 1040. A Treasury spokesperson said that most taxpayers...
View ArticleSubstance-Over-Form Rift Widens Between Tax Court and Circuit Courts
Three Circuit Courts have now split with the Tax Court about whether the substance-over-form doctrine prohibits complex plans that route business income into Roth IRAs. The Ninth Circuit is expected to...
View ArticleHouse Budget Committee Hearing Set to Examine Tax Reform Law
The House Budget Committee has scheduled a February 27 hearing to examine Republicans’ tax reform law. Committee Democrats are expected to largely criticize the Tax Cuts and Jobs Act (TCJA) (P.L....
View ArticleCFC Partners Required to Increase E&P for Subpart F Inclusions (Eaton...
The upper-tier controlled foreign corporation (CFC) partners of a domestic partnership were required to include in gross income their distributive share of income inclusions under subpart F from...
View ArticleEstate Beneficiaries Liable for Unpaid Estate Tax (Ringling, DC SD)
The beneficiaries of a decedent’s estate were liable for the decedent’s unpaid estate tax. Prior to his death, the decedent owned property jointly with each of his three daughters. Within three years...
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