Increased User Fee for Special Enrollment Exam Adopted (T.D. 9820)
The IRS has adopted final regulations that increase the user fee for the Enrolled Agent Special Enrollment Examination (EE-SEE) to become an enrolled agent. The EE-SEE is a three-part examination, and...
View ArticleSenate GOP Pulls Revised ACA Repeal and Replacement Bill from Consideration
The Senate has released a revised version of its Better Care Reconciliation Act of 2017 (BCRA), but leadership has announced that it will abandon this effort to repeal and replace the Patient...
View ArticleArizona ~ Corporate, Personal Income Taxes: Rule Providing Small Business...
The Arizona Commerce Authority has adopted a rule providing guidelines for the Small Business Capital Investment Incentive Program (Angel Investment Program), which provides tax credits to investors...
View ArticleIllinois ~ Corporate, Personal Income Taxes: Withholding Tax Rate, Personal...
The Illinois Department of Revenue has issued an information bulletin on withholding tax rate and personal exemption changes enacted as part of the 2017 budget package (TAXDAY, 2017/07/10, S.9). The...
View ArticleIllinois ~ Corporate, Personal Income Taxes: Guidance on Tax Rate Increases...
The Illinois Department of Revenue has issued an informational bulletin on Illinois corporate and personal income tax rate increases enacted as part of the 2017 budget package (TAXDAY, 2017/07/10,...
View ArticleNew Jersey ~ Property Tax: Disabled Veteran Denied Exemption as She Failed to...
A disabled veteran was properly denied a property tax exemption on her New Jersey residence because her injuries were not a result of “active service in time of war,” as required by the statute....
View ArticleOhio ~ Property Tax: All Evidence May Be Weighed in Value Reduction
A school board of education was successful in challenging the decision of the board of tax appeals that retained the reduced values that the county board of revision adopted. A number of condominium...
View ArticleTrump to GOP Senators: Don’t Leave Town Until Health Care Reform is Complete
President Trump is continuing his effort to bring Republican senators together on the repeal and replacement of the Patient Protection and Affordable Care Act (ACA) (P.L. 111-148) and related taxes....
View ArticleWays and Means Tax Policy Subcommittee Continues Tax Reform Hearings
The House Ways and Means Tax Policy Subcommittee held another hearing on July 19 examining comprehensive tax reform. In particular, the subcommittee discussed the individual side of the tax code. The...
View ArticleDelaware ~ Property Tax: Longer Residency Requirement for Senior School...
Effective for county tax and fiscal years beginning on or after January 1, 2018, the residency requirement for the Delaware senior school property tax credit is increased from 3 consecutive years to 10...
View ArticleIllinois ~ Sales and Use Tax: Guidance on Changes to Gasohol Taxation
An Illinois Department of Revenue news release updates motor fuel retailers on the gasohol sales and use tax rate increase and the repeal of the gasohol exemption. Although both changes are effective...
View ArticleIowa ~ Personal Income Tax: Filing Deadline Extension Provisions for Civilian...
The Iowa Department of Revenue has amended a regulation regarding the individual income tax filing deadline extension for certain civilian personnel. The amendment provides updated guidance on which...
View ArticleCBO Releases Score of Revised Senate GOP ACA Repeal, Replace Bill
The Congressional Budget Office (CBO) and Joint Committee on Taxation (JCT) released an updated cost estimate on July 20 of Senate Republicans’ revised, third discussion draft of the Better Care...
View ArticleHouse Budget Committee Approves Tax Reform Vehicle
The House Budget Committee passed the fiscal year 2018 budget resolution by a 22-to-14 vote during an evening markup on July 19. The budget resolution, released on July 18 (TAXDAY, 2017/07/19, C.1), is...
View ArticleSafe Harbor for Participants in Treasury’s Hardest Hit Fund Extended Through...
The IRS has extended through 2021 the safe harbor method for computing a homeowner’s deduction for payments made on a home mortgage and the information reporting penalty relief for mortgage servicers...
View ArticleNew York ~ Sales and Use Tax: Ticket Sales to Charity Game Taxable
A taxpayer’s ticket sales for a charity softball game are subject to New York sales tax. The taxpayer is a minor league baseball team that owns a stadium. In its stadium, the taxpayer holds baseball...
View ArticleOklahoma ~ Corporate Income Tax: Taxpayer’s Sale of Assets in Pass-Through...
A corporate income taxpayer’s sale of assets held in two S corporations (pass-through entities) qualified for the Oklahoma net capital gains deduction because the transaction amounted to the sale of an...
View ArticleRhode Island ~ Insurance Tax: Surplus Lines Compact Repealed
Rhode Island Gov. Gina Raimondo has signed legislation that repeals the Surplus Lines Insurance Multi-State Compliance Compact. Under Rhode Island law, the state’s insurance commissioner is required to...
View ArticleAdministration Posts Unified Agenda of Regulatory and Deregulatory Actions
The White House has posted online an updated Unified Agenda of Regulatory and Deregulatory Actions. The Unified Agenda identifies various actions that federal agencies intend to take on regulations,...
View ArticleSFC Unanimously Advances Kautter for Top Treasury Tax Policy Post
The Senate Finance Committee (SFC) unanimously advanced President Trump’s nomination of David J. Kautter to serve as Treasury assistant secretary for tax policy (TAXDAY, 2017/05/12, W.1). “This...
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