“Micro-Captive” Insurance Transactions Identified as Transactions of Interest...
CCH Tax Day Report The IRS has notified persons involved in certain “micro-captive” insurance transactions that such transactions are transactions of interest for purposes of Reg. §1.6011-4(b)(6) and...
View ArticleAlabama ~ Sales and Use Tax: Updated Chart Shows Local Participation in 2017...
CCH Tax Day Report The Alabama Department of Revenue has updated the chart that lists the counties and municipalities that have notified the department regarding their participation in the severe...
View ArticleCalifornia ~ Corporate Income Tax: FTB Provides Notice of Its Intended...
CCH Tax Day Report The California Franchise Tax Board (FTB) has issued a notice advising taxpayers and their representatives of its intended courses of action on corporation franchise and income tax...
View ArticleWest Virginia ~ Property Tax: Leasehold Assessment Presented Issue of...
CCH Tax Day Report A West Virginia circuit court’s decision dismissing a taxpayer’s property tax appeal was erroneous because the taxpayer’s challenge as to whether a leasehold had separate and...
View ArticleFinal and Proposed Regulations Focus on U.S. Property Held by Controlled...
CCH Tax Day Report The IRS has issued final regulations under Code Sec. 956 addressing U.S. property held by controlled foreign corporations (CFCs) in transactions involving partnerships, along with...
View ArticleKoskinen Talks IRS Budget, Identity Theft at CERCA Conference
CCH Tax Day Report IRS Commissioner John Koskinen is optimistic about the Service’s ability to address identity theft issues impacting taxpayers but is warning congressional appropriators about the...
View ArticleArkansas ~ Sales and Use Tax: Welding Machine Used by Jewelry Retailer Not...
CCH Tax Day Report A retail jewelry store was not entitled to the manufacturing machinery exemption from Arkansas sales and use tax since the welding machine used to make custom crafted jewelry was not...
View ArticleCalifornia ~ Corporate Income Tax: Summary Judgment Granted for FTB in...
CCH Tax Day Report On remand from a California court of appeal’s decision in Harley-Davidson, Inc. v. California Franchise Tax Board, 237 Cal.App.4th 193 (2015), a California superior court granted the...
View ArticleMassachusetts ~ Property Tax: Telephone Company Personal Property Assessment...
CCH Tax Day Report The Massachusetts Supreme Judicial Court has affirmed the Appellate Tax Board’s determination that a property tax rate structure that provided for taxable personal property of...
View ArticleNew York City ~ Corporate Income Tax: Allocation of Taxpayer’s Receipts Based...
CCH Tax Day Report A consulting service provider was allowed to claim a refund of New York City general corporation tax for tax year 2003 because its receipts factor computation method was found to be...
View ArticleOhio ~ Property Tax: Reduction Decision Upheld for Failure to Show Abuse of...
CCH Tax Day Report The Ohio Board of Tax Appeals’ (BTA’s) decision reducing the property tax value of a taxpayer’s property was upheld because the opposing board of education (BOE) failed to establish...
View ArticleFinCEN Removes, Replaces Outdated References in BSA Regulations (RIN 1506-AB32)
CCH Tax Day Report The Financial Crimes Enforcement Network (FinCEN) has issued technical amendments to regulations under the Bank Secrecy Act (BSA). The amendments remove or replace outdated...
View ArticleIRS Commissioner Reports 50-Percent Reduction in Taxpayer Complaints of...
CCH Tax Day Report The IRS has significantly improved taxpayer safeguards to prevent identity theft and refund fraud, IRS Commissioner John Koskinen told reporters at a press conference pn November 3....
View ArticleIndividual Entitled to Dependency Exemption Deductions, Child Tax Credit and...
CCH Tax Day Report An individual properly claimed dependent exemptions, the child tax credit and the earned income tax credit (EITC). The taxpayer credibly testified that he and his wife were married...
View ArticleAll States ~ Multiple Taxes: Webinar: State Tax Nexus: How to Fight Back...
CCH Tax Day Report Wolters Kluwer is hosting a live two-hour webinar, State Tax Nexus: How to Fight Back Against Aggressive State Efforts to Tax More Transactions, on Thursday, November 10, 2016, at 1...
View ArticleIllinois ~ Sales and Use Tax: Chicago Offers 2016 Voluntary Amusement Tax...
CCH Tax Day Report Chicago is offering a voluntary amusement tax disclosure program, ending on December 31, 2016, for Chicago businesses that have not paid tax on paid television programming, such as...
View ArticleMassachusetts ~ Multiple Taxes: Required Electronic Filing Expanded Effective...
CCH Tax Day Report The Massachusetts Department of Revenue has released a bulletin that reflects the expansion of the list of electronic filing and payment requirements to include Form CT-11,...
View ArticleMichigan ~ Personal Income Tax: Disability Savings Program Begins
CCH Tax Day Report Michigan’s Lt. Gov. Brian Calley announced that the Mi-ABLE (Michigan Achieving a Better Life Experience) program has begun. The program is a 529(A) savings account with investment...
View ArticleWeekly Report from Washington, D.C.
CCH Tax Day Report Congress remains in recess with lawmakers scheduled to return after the November elections. The Treasury Inspector General for Tax Administration (TIGTA) released two reports. The...
View ArticleAll States ~ Multiple Taxes: Webinar: State Tax Nexus: How to Fight Back...
CCH Tax Day Report Wolters Kluwer is hosting a live two-hour webinar, State Tax Nexus: How to Fight Back Against Aggressive State Efforts to Tax More Transactions, on Thursday, November 10, 2016, at 1...
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