Minnesota Sets 2018 Income Tax Brackets
The Minnesota Department of Revenue has announced the adjusted 2018 individual income tax brackets. 2018 Minnesota Income Tax Brackets For tax year 2018, the state’s individual income tax brackets will...
View ArticleNew York Enacts Incentive for First Home Buyers
New York has enacted a subtraction modification for contributions made to a first home savings account. The subtraction is limited to: $5,000 for an individual or head of household; and $10,000 for...
View ArticleDetailed Coverage of Tax Cuts and Jobs Act Now Available!
The Tax Cuts and Jobs Act (P.L. 115-97) was signed by President Trump on December 22. The most sweeping change to the U.S. tax code in decades impacts virtually every taxpayer. Generally, it takes...
View ArticleA Personal Guide to the Tax Cuts and Jobs Act Now Available
The Tax Cuts and Jobs Act (P.L. 115-97), was signed by President Trump on December 22. The Act makes sweeping changes to the U.S. tax code and impacts virtually every taxpayer. Our all-new eBook, A...
View ArticleDisaster Tax Relief: Hurricane Relief Legislation and Related Tax Provisions,...
It has been a banner year for natural disasters. Whether you suffered from flood or flame, you need to know what relief is available and how to get it. Disaster Tax Relief Disaster Tax Relief,...
View ArticleNew Cannabis Taxation: Federal and State Tax Guidebook Now Available
States are legalizing cannabis, or marijuana, while cannabis remains illegal under federal law. Wolters Kluwer has put all the state and federal cannabis tax laws in one place because you need to know...
View ArticleNew Jersey Allows 2018 Property Taxes to Be Paid in 2017
New Jersey Governor Chris Christie signed an executive order that directs municipalities to accept payments for 2018 property taxes in calendar year 2017. Municipalities are required to credit the...
View ArticleWashington Announces B&O Tax Nexus Thresholds
Washington has announced the 2018 economic nexus thresholds applicable to apportionable activities for business and occupation (B&O) taxes. They are: receipts threshold, $285,000; property...
View ArticleWolters Kluwer Introduces New User Communities, Support Chatbot
The Customer Service and Support Teams at Wolters Kluwer Tax and Accounting, North America has launched a number of new tools that will help customers find answers, share best practices and Maximize...
View ArticleDetermination to Collect Unpaid Taxes by Levy Properly Sustained (Talbot, CA-9)
The Tax Court properly sustained a settlement officer’s (SO) determination to collect an individual’s four years’ unpaid taxes. Levy Properly Sustained The evidence showed that the IRS sent a final...
View ArticleCalifornia Adopts Emergency Cannabis Tax Regulations
California has adopted two emergency regulations that provide guidance on: the cannabis excise tax; and the cultivation tax. Emergency Regulation on Cannabis Excise and Cultivation Taxes One of the...
View ArticleNo Kansas Use Tax on State Lottery Gaming Machines
A casino was entitled to a refund of Kansas compensating use tax on gaming machines it operated on behalf of the state lottery. Exercise of Right or Power Over Property For use tax to apply, a taxpayer...
View ArticleWholesale Representative Creates Nexus in Washington
An out-of-state retailer and wholesaler had nexus with Washington and was liable for: retail sales tax; retailing business and occupation (B&O) tax; and wholesaling B&O tax. Nexus existed for...
View ArticlePreliminary Guidance Issued on Transition Tax Computation (IR-2017-212;...
The IRS has issued preliminary guidance on the transition tax computation. The “transition tax” was enacted as part of the budget resolution on December 22, 2017. Also, the IRS has announced that it...
View Article2018 Tax Season Starts January 29; Filing Deadline Set for April 17 (IR-2018-1)
The 2018 income tax filing season opens on Monday, January 29, 2018, the IRS announced on January 4. The Service noted that, by law, it cannot issue refunds for taxpayers claiming the Earned Income Tax...
View ArticleAICPA Calls for Centralized Partnership Audit Regime Delay
The American Institute of CPAs has called on Congress to delay the start of the new centralized partnership audit regime. The AICPA’s recommendation came shortly after the IRS issued final regulations...
View ArticleOnline Travel Company Liable for Maryland Sales Tax
An online travel company (OTC) was liable for Maryland sales and use tax on its sale of hotel rooms and car rentals. Right to Occupy Lodgings Taxable Maryland law states that tangible personal property...
View ArticleWeekly Report from Washington, D.C.
Congress was on its holiday break. The IRS announced that the income tax filing season will open for individuals on January 29. The IRS also issued its annual revisions to the general procedures for...
View ArticleConnecticut Explains Room Rental Tax for Homeowners
Connecticut issued guidance on the room occupancy tax on short-term home rentals. The tax applies to payments received by homeowers who rent rooms for 30 days in a row or fewer. The current tax rate is...
View ArticleRevised Covered Compensation Tables for 2018 Plan Year Released (Rev. Rul....
The IRS has issued revised covered compensation tables for the 2018 plan year to reflect a change to the taxable wage base for 2018 that was announced by the Social Security Administration on November...
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