Proposed Regulations Governing the Health Insurance Provider Fee Released...
CCH Tax Day Report The IRS has issued proposed regulations regarding Health Insurance Provider Fee under Section 9010 of the Patient Protection and Affordable Care Act (P.L. 111-148). One set would...
View ArticleIRS Improperly Denied Widow’s Farm Input Deductions; Tax Benefit Rule Not...
CCH Tax Day Report The tax benefit rule did not require the recapture of deductions for farm inputs claimed by a farmer on his Schedule F, Profit or Loss from Farming, upon his widow’s acquisition by...
View ArticleDelaware ~ Practice and Procedure: Deadline for Annual Reporting of...
CCH Tax Day Report The Delaware Division of Revenue has announced that it is adopting the new federal filing deadline for reporting personal income tax being withheld by employers. The Delaware...
View ArticleIndiana ~ Personal Income Tax: Form IT-40-EZ Discontinued
CCH Tax Day Report The Indiana Department of Revenue has announced that beginning with 2016 taxes filed in 2017, it will no longer support the IT-40-EZ. Taxpayers will need to file using the IT-40...
View ArticleMichigan ~ Corporate Income Tax: Taxpayer Asks U.S. Supreme Court to Review...
CCH Tax Day Report A taxpayer has asked the U.S. Supreme Court to review a Michigan appellate court decision that rejected challenges to the retroactive repeal of the Multistate Tax Compact and its...
View ArticlePennsylvania ~ Sales and Use Tax: Court Confirms Decision Holding That...
CCH Tax Day Report The Commonwealth Court of Pennsylvania confirmed its previous decision holding that a limited liability company’s (LLC’s) provision of services and infrastructure for an Internet...
View ArticleSouth Carolina ~ Corporate Income, Sales and Use Taxes: 2016 Per Capita...
CCH Tax Day Report The South Carolina Department of Revenue has released the most recently available per capita income figures for all South Carolina counties, as well as the state figure, for the...
View ArticlePath Forward for Critical Spending Bill Remained Unclear but Encouraging at...
CCH Tax Day Report At press time, the Senate had yet to vote on a continuing resolution (CR) that would keep the federal government, including the IRS, funded past December 9. The House passed the CR...
View Article2017 Tax Season Begins January 23; Returns Due April 18; (IR-2016-167)
CCH Tax Day Report The IRS has announced that it will begin accepting and processing electronic and paper returns on Monday, January 23, 2017. The deadline to submit 2016 tax returns will be Tuesday,...
View ArticleWeekly Report from Washington, D.C.
CCH Tax Day Report At press time, the 114th Congress was expected to adjourn once a short-term funding bill is passed. The 115th Congress is scheduled to meet on January 3, 2017. The Treasury Inspector...
View ArticleMichigan ~ Personal Income Tax: Tax Year 2016 New Developments and Allowance...
CCH Tax Day Report The Michigan Department of Treasury has released information about new developments in personal income taxes for the 2016 tax year. This information includes certain tax year 2016...
View ArticleMinnesota ~ Multiple Taxes: Extension Allowed for Taxpayers Affected by Flooding
CCH Tax Day Report The Minnesota Department of Revenue has announced that Minnesota taxpayers affected by flooding from severe weather in September have until January 31, 2017, to file and pay their...
View ArticleOhio ~ Personal Income Tax: 2016 Individual Tax Brackets Indexed for...
CCH Tax Day Report The Ohio Department of Taxation has issued the 2016 individual income tax brackets indexed for inflation. The brackets are as follows: — 0 – $5,250 (0.495%) — $5,250 – $10,500...
View ArticleCongress Passes Bipartisan Veterans Tax Fairness Bill
CCH Tax Day Report The Senate passed the Combat-Injured Veterans Tax Fairness Act of 2016 (HR 5015) on December 10 by unanimous consent. The House passed the bill on December 5 (TAXDAY, 2016/12/06,...
View ArticleFinal Regulations Issued on Reporting Requirements of Foreign-Owned...
CCH Tax Day Report The Treasury Department and the IRS have released final regulations governing the treatment of domestic disregarded entities wholly owned by a foreign person for the limited purposes...
View ArticleLow-Income Housing Project Must Contribute to Concerted Community...
CCH Tax Day Report A low-income housing project does not qualify for an allocation plan preference unless its development contributes to a concerted community revitalization plan. Code Sec....
View ArticleLocal Approval Not Required to Allocate Low-Income Housing Credits (Rev. Rul....
CCH Tax Day Report State housing credit agencies allocating low-income housing credits (LIHTC) are not required or encouraged to reject all proposals that do not obtain the approval of the locality...
View ArticleIndiana ~ Corporate Income Tax: Direct Mail Company Allowed to Use “Cost of...
CCH Tax Day Report An Indiana corporate income taxpayer was allowed to apportion income received from delivering advertising to Indiana on a “cost of performance basis” because it more fairly reflected...
View ArticleMissouri ~ Sales and Use Tax: Discounted Voucher for Rounds of Golf at...
CCH Tax Day Report A country club should collect and remit Missouri sales tax on the amount paid by an individual golfer for a discounted voucher for rounds of golf at the club. The taxpayer entered...
View ArticleNew Hampshire ~ Property Tax: Church Parking Spaces Leased to Students Not...
CCH Tax Day Report A New Hampshire church’s parking lot spaces that were leased to local college students were not use and occupied directly by the church for religious purposes and, therefore, were...
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