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Tax Alerts
September 20, 2020
Tax Briefing(s)
2020 Tax Policies of the Major Presidential Candidates2020 Payroll Tax Deferral Order2020 Post-Filing Season UpdateCARES ActCoronavirus Tax Relief
IRS Reminds Taxpayers Who Missed July 15 Deadline to File Now to Avoid Penalties
The IRS has reminded taxpayers who missed the July 15 deadline without requesting an extension about some important tips, including filing electronically as soon as possible to reduce potential penalt...
The IRS has reminded taxpayers who missed the July 15 deadline without requesting an extension about some important tips, including filing electronically as soon as possible to reduce potential penalt...
Interest Payments Coming to Timely Filers
The Treasury and IRS announced on August 18 that they were to start sending interest payments to about 13.9 million individual taxpayers who timely filed their 2019 federal income tax returns and are ...
The Treasury and IRS announced on August 18 that they were to start sending interest payments to about 13.9 million individual taxpayers who timely filed their 2019 federal income tax returns and are ...
Processing Pending Payments During COVID-19
The IRS has warned taxpayers that if they mailed checks (either with or without tax returns), the checks may still be unopened in the backlog of mail that it is processing due to COVID-19. Any payment...
The IRS has warned taxpayers that if they mailed checks (either with or without tax returns), the checks may still be unopened in the backlog of mail that it is processing due to COVID-19. Any payment...
IRS Reopens Registration Period for Economic Impact Payments for Certain Federal Beneficiaries
The IRS has announced that it will reopen the registration period for federal beneficiaries who did not receive $500 per child payments earlier this year, as it continues to look for ways to look for ...
The IRS has announced that it will reopen the registration period for federal beneficiaries who did not receive $500 per child payments earlier this year, as it continues to look for ways to look for ...
Taxpayers Can File Form 1040-X Electronically
The IRS has announced that taxpayers can now submit Form 1040-X electronically with commercial tax filing software. Until now, taxpayers were required to mail a completed Form 1040-X to the IRS for pr...
The IRS has announced that taxpayers can now submit Form 1040-X electronically with commercial tax filing software. Until now, taxpayers were required to mail a completed Form 1040-X to the IRS for pr...
IRS Reminds Individuals: Unemployment Compensation Taxable
The IRS has reminded individuals receiving unemployment compensation (beneficiaries) that they can have tax withheld from their benefits now to help avoid owing taxes on this income when they file the...
The IRS has reminded individuals receiving unemployment compensation (beneficiaries) that they can have tax withheld from their benefits now to help avoid owing taxes on this income when they file the...
Taxpayers Urged to Renew Expiring ITINs
The IRS announced that more than one million Individual Taxpayer Identification Numbers (ITINs) will expire at the end of 2020. ITINs are used by people who have tax filing or payment obligations unde...
The IRS announced that more than one million Individual Taxpayer Identification Numbers (ITINs) will expire at the end of 2020. ITINs are used by people who have tax filing or payment obligations unde...
IRS Reminds Employers of Payroll Service Provider Options
The IRS has reminded employers of their options when it comes to choosing payroll service providers. The IRS also summarized the different types of third party providers available, including:payroll s...
The IRS has reminded employers of their options when it comes to choosing payroll service providers. The IRS also summarized the different types of third party providers available, including:payroll s...
AZ - No local rate changes effective September 1
There are no local Arizona transaction privilege tax (TPT) changes effective September 1, 2020. The TPT rate chart can be viewed at: https://azdor.gov/sites/default/files/media/TPT_RATETABLE_09012020...
There are no local Arizona transaction privilege tax (TPT) changes effective September 1, 2020. The TPT rate chart can be viewed at: https://azdor.gov/sites/default/files/media/TPT_RATETABLE_09012020...
CA - Taxpayers not entitled to business loss deduction on sale of residential property
California personal income taxpayers were not entitled to deduct the loss incurred on the sale of their residential property as the residence was not acquired in a profit-motivated transaction, nor wa...
California personal income taxpayers were not entitled to deduct the loss incurred on the sale of their residential property as the residence was not acquired in a profit-motivated transaction, nor wa...
CO - Tax rate reduction initiative qualifies for 2020 ballot
A proposed initiative to decrease the Colorado income tax rate has received enough signatures to appear on the state’s November 3, 2020, ballot.Tax Rate ReductionIf approved by voters, Initiative No...
A proposed initiative to decrease the Colorado income tax rate has received enough signatures to appear on the state’s November 3, 2020, ballot.Tax Rate ReductionIf approved by voters, Initiative No...
FL - Liens related to unpaid utility-service charges and limitation period applicable to enforcement discussed
For Florida property tax purposes, the attorney general has issued an opinion on the payment of delinquent utility-service charges incurred by former owners of the property by the new owners. The atto...
For Florida property tax purposes, the attorney general has issued an opinion on the payment of delinquent utility-service charges incurred by former owners of the property by the new owners. The atto...
GA - Q4 local rate changes updated
The county sales and use tax rate changes below take effect in Georgia on October 1, 2020.County Rate ChangesThese Georgia counties will have an LSET2 rate of 8%:Grady;Liberty; andLong.Glynn will have...
The county sales and use tax rate changes below take effect in Georgia on October 1, 2020.County Rate ChangesThese Georgia counties will have an LSET2 rate of 8%:Grady;Liberty; andLong.Glynn will have...
HI - Hawaii updates federal conformity, decouples from some cares act provisions
Hawaii updated its IRC conformity date for computing corporate and individual income tax liability. The new general conformity date is March 27, 2020, for tax years beginning after December 31, 2019. ...
Hawaii updated its IRC conformity date for computing corporate and individual income tax liability. The new general conformity date is March 27, 2020, for tax years beginning after December 31, 2019. ...
ID - Updated w-4 instructions including information for nonresident aliens issued
Idaho updated its W-4 instructions to include withholding information for nonresident aliens. The taxpayer may access Idaho W-4 through W-4 webpage. Notice, Idaho State Tax Commission, August 12, ...
Idaho updated its W-4 instructions to include withholding information for nonresident aliens. The taxpayer may access Idaho W-4 through W-4 webpage. Notice, Idaho State Tax Commission, August 12, ...
IL - Retailer's sale, installation of appliances not exempt from tax
The Illinois Appellate Court affirmed the decision of the circuit court finding that a retailer’s (taxpayer’s) sale of certain appliances was not exempt from the retail occupancy tax despite its s...
The Illinois Appellate Court affirmed the decision of the circuit court finding that a retailer’s (taxpayer’s) sale of certain appliances was not exempt from the retail occupancy tax despite its s...
IA - Extensions granted due to covid-19
The Iowa Director of Revenue signed an order extending the tax payment deadlines for certain businesses disrupted by COVID-19. The order applies to a business that is a bar or other alcohol establishm...
The Iowa Director of Revenue signed an order extending the tax payment deadlines for certain businesses disrupted by COVID-19. The order applies to a business that is a bar or other alcohol establishm...
MD - Unauthorized insurance company not subject to corporate income tax
On remand, the Maryland Tax Court held that an unauthorized insurance company was exempt from state corporate income taxation under Title 4 of the Insurance Article. The exemption language under Title...
On remand, the Maryland Tax Court held that an unauthorized insurance company was exempt from state corporate income taxation under Title 4 of the Insurance Article. The exemption language under Title...
MA - Addition of subsequent property tax payments in redemption amount not allowed
For Massachusetts property tax purposes, the redemption amount that the owners would have to pay in order to redeem the title to their property cannot include subsequent taxes paid by the purchaser af...
For Massachusetts property tax purposes, the redemption amount that the owners would have to pay in order to redeem the title to their property cannot include subsequent taxes paid by the purchaser af...
NV - Nevada enacts tax amnesty program and temporary acceleration of net proceeds tax on minerals
New legislation requires the Nevada Department of Taxation to establish a tax amnesty program for delinquent taxpayers. It also accelerates payment of the net proceeds tax due for minerals.Tax Amnesty...
New legislation requires the Nevada Department of Taxation to establish a tax amnesty program for delinquent taxpayers. It also accelerates payment of the net proceeds tax due for minerals.Tax Amnesty...
NM - New solar market credit rules adopted
The New Mexico Energy, Minerals and Natural Resources Department has adopted rules governing the New Solar Market Development Tax Credit against personal income taxes, enacted during the 2020 Legislat...
The New Mexico Energy, Minerals and Natural Resources Department has adopted rules governing the New Solar Market Development Tax Credit against personal income taxes, enacted during the 2020 Legislat...
NY - Taxpayer not permitted to exclude royalties received from foreign affiliates
The Tax Appeals Tribunal (TAT) affirmed a determination of the Administrative Law Judge (ALJ) that disallowed a diversified worldwide entertainment company (taxpayer) from excluding royalties it recei...
The Tax Appeals Tribunal (TAT) affirmed a determination of the Administrative Law Judge (ALJ) that disallowed a diversified worldwide entertainment company (taxpayer) from excluding royalties it recei...
NC - Answers to voluntary transfer pricing initiative questions provided
North Carolina provided answers to frequently asked questions about its voluntary transfer pricing resolution initiative. Frequently Asked Questions-Transfer Pricing Resolution Initiative, North Caro...
North Carolina provided answers to frequently asked questions about its voluntary transfer pricing resolution initiative. Frequently Asked Questions-Transfer Pricing Resolution Initiative, North Caro...
ND - Local tax change announced
North Dakota has announced an upcoming local sales and use tax rate change that is effective October 1, 2020.ThompsonThompson will impose a city sales, use, and alcohol gross receipts tax of 2%. Rele...
North Dakota has announced an upcoming local sales and use tax rate change that is effective October 1, 2020.ThompsonThompson will impose a city sales, use, and alcohol gross receipts tax of 2%. Rele...
OH - Municipal net profit tax return is due September 15
The Ohio Department of Taxation (department) has reminded all municipal net profit tax (MNPT) practitioners and taxpayers that the return for taxpayers with a May fiscal year-end is due September 15, ...
The Ohio Department of Taxation (department) has reminded all municipal net profit tax (MNPT) practitioners and taxpayers that the return for taxpayers with a May fiscal year-end is due September 15, ...
OR - Business energy tax credit did not generate taxable income; protest sustained
A married couple’s purchase of business energy tax credit at a discount did not generate taxable income for Oregon personal income tax purposes. In this matter, the Department of Revenue (department...
A married couple’s purchase of business energy tax credit at a discount did not generate taxable income for Oregon personal income tax purposes. In this matter, the Department of Revenue (department...
PA - Recent tax update discussed covid-19 related tax relief
Pennsylvania, in its latest tax update, discusses COVID-19 related tax reliefs, among other information. The update covers information regarding:Online and phone assistance available to the taxpayers ...
Pennsylvania, in its latest tax update, discusses COVID-19 related tax reliefs, among other information. The update covers information regarding:Online and phone assistance available to the taxpayers ...
TN - Effect of cares act provisions in Tennessee discussed
The federal CARES Act amended IRC Sec. 168 to reduce the MACRS recovery period of qualified improvement property from 39 years to 15 years, thereby making such property eligible for federal bonus depr...
The federal CARES Act amended IRC Sec. 168 to reduce the MACRS recovery period of qualified improvement property from 39 years to 15 years, thereby making such property eligible for federal bonus depr...
TX - July 2020 certification of the average closing price of gas and oil released
The Texas Comptroller of Public Accounts has determined the average taxable price of crude oil for the reporting period July 2020 is $17.86 per barrel for the three-month period beginning on April 1, ...
The Texas Comptroller of Public Accounts has determined the average taxable price of crude oil for the reporting period July 2020 is $17.86 per barrel for the three-month period beginning on April 1, ...
UT - Assessment partially sustained as taxpayers failed to establish change in domicile
Taxpayers’ were properly subject to Utah personal income tax assessment as resident for the 2015 tax year because the taxpayer did not abandon their Utah domicile. In this matter, the Division of Ta...
Taxpayers’ were properly subject to Utah personal income tax assessment as resident for the 2015 tax year because the taxpayer did not abandon their Utah domicile. In this matter, the Division of Ta...
VA - Guidance issued on peer-to-peer vehicle sharing tax
Virginia updated its motor vehicle rental tax guidelines to provide guidance on tax law changes applicable to peer-to-peer vehicle sharing. The peer-to-peer vehicle sharing tax was enacted earlier in ...
Virginia updated its motor vehicle rental tax guidelines to provide guidance on tax law changes applicable to peer-to-peer vehicle sharing. The peer-to-peer vehicle sharing tax was enacted earlier in ...
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