Wolters Kluwer’s Bas Kniphorst Recognized as Top Young Industry Leader
Honored for Advancing the Accounting Profession through Exemplary Leadership and Innovative Thinking (NEW YORK, NY, August 30, 2017) — Bas Kniphorst, Vice President of Product Management for the US...
View ArticleTrump Calls for Tax Reform Focused on Simplification, Global Competitiveness,...
President Trump delivered a speech on tax reform in Missouri on August 30 that addressed the economic need for tax reform. He included few details on specific tax provisions over and above those...
View ArticleIRS Eases Requirements for Retirement Plan Loans, Distributions for Victims...
The IRS has announced streamlined procedures for loans and distributions from retirement plans to help victims of Hurricane Harvey. Participants in 401(k) plans, employees of public schools and...
View ArticleTaxpayer Was Not Entitled to Refund for Payments Made Outside Lookback Period...
In a case of first impression, a taxpayer who did not file her income tax return for the year in issue before the notice of deficiency was issued and did not pay her tax liability within two years of...
View ArticleVirginia Issues Guidelines for New Cigarette Exemption Certificates
The Virginia Department of Taxation has issued guidelines on the new cigarette resale exemption certificate. As of January 1, 2018, retailers and other dealers must use a new exemption certificate form...
View ArticleDetailed Tax Reform Plan Expected in Coming Weeks, Mnuchin Says
The Trump administration and top Republican lawmakers are expected to release a more detailed tax reform plan sometime in the next few weeks, Treasury Secretary Steven Mnuchin said in an August 30...
View ArticlePortion of Kentucky Telecom Tax Ruled Unconstitutional
The Kentucky Supreme Court has found a portion of the Multichannel Video Programming and Communications Services Tax (the Telecom Tax) unconstitutional. Specifically, the court held that the...
View ArticleMassachusetts Changes Foreign Corporation Excise Tax Rules
Massachusetts has changed its policy on how certain foreign corporations must calculate corporate excise tax liability. The change affects non-U.S. corporations that: are taxable or nontaxable members...
View ArticleAll Satellite TV Subscriber Receipts Must be Used to Compute South Carolina Tax
A satellite TV provider must include all subscriber receipts from South Carolina customers in its income tax calculation. Specifically, 100% of those receipts should be included in the numerator of the...
View ArticleGeorgia Offers Hurricane Harvey Tax Relief
Georgia offers tax relief to the victims of Hurricane Harvey. In a press release, the Department of Revenue announced the postponement of numerous tax-related deadlines until January 31, 2018. Tax...
View ArticleWolters Kluwer Leaders Honored as Top Most Influential People in the...
(NEW YORK, NY, September 7, 2017) — Two Wolters Kluwer leaders have been recognized nationally as among the top in the profession by prominent tax and accounting publication, Accounting Today. In its...
View ArticleTrump, Ryan: Tax Reform Details to Be Released in Coming Weeks
President Trump and House Speaker Paul Ryan, R-Wis., appear to agree on the timeframe for unveiling a tax reform plan, but there may be some disagreement as to the proposed corporate tax rate. Trump,...
View ArticleSenate Approves Bipartisan, Short-Term Government Funding Bill
The Senate on September 7 passed a Hurricane Harvey relief aid package by an 80-to-17 vote that serves as the legislative vehicle for continuing federal government funding past the end of the month....
View ArticleNew Safe Harbor for Utilities that Inadvertently Violate ITC and MACRS...
The IRS has provided a safe harbor for public utilities that are inadvertently or unintentionally using a practice or procedure that is inconsistent with the normalization rules relating to the...
View ArticleThe Sharing (Gig) Economy: Special Tax Briefing Now Available
The sharing, or gig, economy allows individuals and groups to use technology advancements to arrange transactions that generate revenue from their assets, such as cars and homes, or from services they...
View ArticleSpecial Tax Briefing on the Sharing (Gig) Economy Available Now
The sharing, or gig, economy allows individuals and groups to use technology advancements to arrange transactions that generate revenue from their assets, such as cars and homes, or from services they...
View ArticleCalifornia Extends Payroll Tax Deadlines Due to Wildfires
California offers to extend payroll tax deadlines for employers affected by several wildfires. Counties Affected The California Employment Development Department (EDD) will extend deadlines for...
View ArticleDelaware Strengthens Tax Collection Abilities
Newly enacted Delaware legislation enhances the ability of the state to collect delinquent taxes. Effective retroactively to July 1, 2017, Delaware allows: the renewal of a judgment for unpaid taxes...
View ArticleFlorida Suspends County Tax Rules Due to Hurricane Irma
Florida suspends county tax compliance and hearing requirements for all counties for 30 days. On September 4, 2017, Gov. Rick Scott declared a state of emergency for every Florida county due to...
View ArticleIRS Announces Overpayment and Underpayment Interest Rates for Quarter...
The IRS has announced that the interest rates for the calendar quarter beginning October 1, 2017, will be 4 percent for overpayments (3 percent in the case of a corporation), 4 percent for...
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