Wolters Kluwer Adds Robust International Tax Content to Award-Winning CCH...
New Content and Tools Provide Tax Planning and Compliance Information Needed to Conduct Business and Reduce Risk in 90 Countries Around the Globe (SAN FRANCISCO, CA, October 24, 2017) – During the 13th...
View ArticleTax Reform Bill Coming Next Week, Ryan Predicts
House Republicans are gearing up to unveil tax reform legislation during the week of October 30, House Speaker Paul Ryan, R-Wis., reportedly told colleagues during a closed-door meeting on October 24....
View ArticleLouisiana Voters Approve Exemption Amendments
Louisiana voters approved two property tax constitutional amendment measures on the October 14, 2017 ballot: exemption for construction projects until construction is completed exemption for spouses of...
View ArticleTax Treatment of Sale of Texas Subsidiary
In calculating its Texas franchise tax liability, an out-of-state holding company was required to include its net gain from the sale of stock of a Texas subsidiary in the denominator of the...
View ArticleWolters Kluwer Addresses the Future of Audit with Expanded Integrated Audit...
Integrated Solutions Break from the Checklist Mentality and Help Make Firms Future Ready (SAN FRANCISCO, CA, October 25, 2017) – During the 13th annual CCH Connections User Conference, Wolters Kluwer...
View ArticleHouse Democrats Outline Tax Reform Principles
House Ways and Means Committee ranking member Richard Neal, D-Mass., released the” Democratic Principles for Tax Reform: Real Reform for Real People” on October 25, outlining what Democrats are looking...
View ArticleLawmakers Examine IRS Management
Lawmakers examined a variety of IRS management issues during an October 25 hearing before the House Oversight and Government Reform Subcommittees on Government Operations and Health Care, Benefits and...
View ArticleDistrict of Columbia Lodgings Tax Enacted
A new District of Columbia lodgings tax of 0.3% applies October 1, 2017, under enacted emergency legislation. The tax applies to transient lodgings. In the District, transient lodgings include: hotels;...
View ArticleIdaho Grants Extensions to California Wildfire Victims
Idaho extends tax filing and payment deadlines for Utah taxpayers in California affected by recent wildfires. Taxpayers from designated disaster areas have until January 31, 2018, to mail any completed...
View ArticleTrump Selects Interim IRS Commissioner
President Trump has announced his intention to designate David Kautter to become acting commissioner of the Internal Revenue Service when current IRS Commissioner John Koskinen’s term expires on...
View ArticleTrump Signs Bipartisan Farm Bankruptcy Relief Bill into Law
The bipartisan Family Farmer Bankruptcy Clarification Act of 2017 (Sen 1237) was signed by President Trump on October 26 as part of the Additional Supplemental Appropriations for Disaster Relief...
View ArticleHouse Passes Tax Reform Vehicle; Bill Release Expected November 1
The House narrowly passed the Senate-approved fiscal year 2018 budget resolution (HConRes 71 ) by a 216-to-212 vote on October 26. The measure opens the door for tax reform legislation to be introduced...
View ArticleDistrict of Columbia BID Tax Rate Increased
The District of Columbia Capitol Riverfront Business Improvement District (BID) tax is increased, on an emergency basis. The increase includes: 17 cents (previously, 16 cents) per square foot for each...
View ArticleNew Jersey Bonus Depreciation Decoupling Regulation Declared Invalid
On October 23, 2017 , the Superior Court of New Jersey, Appellate Division, issued an opinion affirming the New Jersey Tax Court’s decision in Toyota Motor Credit Corp. v. Director, Division of...
View ArticlePA Senate Approves Remote Seller Rules and NOL Changes
The Pennsylvania Senate has agreed to numerous tax changes in legislation recently passed by the House of Representatives. Changes of note would: amend the corporate net income tax net operating loss...
View ArticleWest Virginia Enacts Military Retirement Tax Exemption
Beginning January 1, 2018, military retirement income paid by the United States or by West Virginia is exempt from personal income tax (if included in federal gross income). This includes retirement...
View ArticleSenate Preps for Tax Reform as House Readies Its Draft for November 1 Unveiling
The House Ways and Means Committee is scheduled to release draft tax reform legislation on November 1 with a markup beginning one week later on November 6 (TAXDAY, 2017/10/27, C.1 ). The markup is...
View ArticleDisaster Relief for Hurricanes Irma, Maria Excludes Certain Obligations from...
The IRS has expanded disaster relief related to Hurricanes Irma and Maria that was first provided in Notice 2017-55, I.R.B. 2017-42, 324 (TAXDAY, 2017/09/28, I.5 ). This new relief provides that an...
View ArticleWeekly Report from Washington, D.C.
Tax reform discussions continue on Capitol Hill. The Treasury Inspector General for Tax Administration (TIGTA) reviewed return preparer fraud. The IRS launched the 2018 Preparer Tax Identification...
View ArticleMaine Mandatory Out-of-State Seller Registration Discussed
Maine has included rules for mandatory out-of-state seller registration in its bulletin for out-of-state sellers. An out-of-state seller is required to collect and remit sales tax in Maine if: its...
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