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CTC Automatic Payments Being Sent
The IRS announced that eligible families would automatically begin receiving monthly child tax credit (CTC) payments starting July 15. These payments cover half of the credit families will likely qual...
The IRS announced that eligible families would automatically begin receiving monthly child tax credit (CTC) payments starting July 15. These payments cover half of the credit families will likely qual...
IRS Extends Leave-Based Donation Program Treatment
The Treasury and IRS have extended the treatment provided in Notice 2020-46, I.R.B. 2020-27, 7, to cash payments made to Code Sec. 170(c) organizations after December 31, 2020, and before January 1...
The Treasury and IRS have extended the treatment provided in Notice 2020-46, I.R.B. 2020-27, 7, to cash payments made to Code Sec. 170(c) organizations after December 31, 2020, and before January 1...
Identity Theft Awareness Campaign Announced
The IRS, state tax agencies, and the tax industry announced the annual campaign to raise awareness among tax professionals about data security. Continuing an effort to battle tax-related identity thef...
The IRS, state tax agencies, and the tax industry announced the annual campaign to raise awareness among tax professionals about data security. Continuing an effort to battle tax-related identity thef...
IRS and Community Partners Provide Tax Assistance
The IRS has partnered with non-profit organizations and others in 12 cities to help eligible families file a 2020 return or register for the monthly Advance Child Tax Credit ( ACTC) payments using th...
The IRS has partnered with non-profit organizations and others in 12 cities to help eligible families file a 2020 return or register for the monthly Advance Child Tax Credit ( ACTC) payments using th...
2.2 Million EIPs Disbursed Under American Rescue Plan
The IRS, Treasury and Bureau of the Fiscal Service announced disbursing more than 2.2 million additional Economic Impact Payments (EIPs) under the American Rescue Plan (ARP) ( P.L. 117-2). The IRS wi...
The IRS, Treasury and Bureau of the Fiscal Service announced disbursing more than 2.2 million additional Economic Impact Payments (EIPs) under the American Rescue Plan (ARP) ( P.L. 117-2). The IRS wi...
Routine Request Exception Applicable to Church Large Employer
The IRS Chief Counsel ruled that when sent to a church applicable large employer, Letter 226-J is a routine request under Reg. §301.7611-1, Q&A-4. The letter was an initial communication with an ...
The IRS Chief Counsel ruled that when sent to a church applicable large employer, Letter 226-J is a routine request under Reg. §301.7611-1, Q&A-4. The letter was an initial communication with an ...
AZ - Elective pass-through entity tax enacted
For tax year 2022 and after, partnerships, limited liability companies, and S corporations may elect to pay Arizona income tax at the entity level.Tax RateThe entity-level tax applies at the rate of 4...
For tax year 2022 and after, partnerships, limited liability companies, and S corporations may elect to pay Arizona income tax at the entity level.Tax RateThe entity-level tax applies at the rate of 4...
CA - Rescission of "stay at home" order may affect out-of-state corporations with employees teleworking in state
The rescission of California’s "stay at home order" may change whether an out-of-state corporation with employees teleworking in California is subject to corporation franchise tax. With the rescis...
The rescission of California’s "stay at home order" may change whether an out-of-state corporation with employees teleworking in California is subject to corporation franchise tax. With the rescis...
CO - Conservation easement credit amended
The Colorado conservation easement credit against corporate and personal income taxes is amended to:increase credit amounts;change how transferred credits are tracked and verified; andbroaden the enti...
The Colorado conservation easement credit against corporate and personal income taxes is amended to:increase credit amounts;change how transferred credits are tracked and verified; andbroaden the enti...
FL - Lease or rental of a car by a peer-to-peer car-sharing program is subject to tax
The lease or rental of a motor vehicle by a peer-to-peer car-sharing program is subject to Florida sales and use tax. Moreover, a $1 per day rental car surcharge applies to a peer-to-peer car-sharing ...
The lease or rental of a motor vehicle by a peer-to-peer car-sharing program is subject to Florida sales and use tax. Moreover, a $1 per day rental car surcharge applies to a peer-to-peer car-sharing ...
GA - Sales and use tax treatment of fundraising activities conducted by organizations exempt from federal income discussed
For sales and use tax purposes, Georgia issued a policy bulletin providing guidance to organizations exempt from federal income tax under Internal Revenue Code (IRC) 501(c)(3) ("501(c)(3) organization...
For sales and use tax purposes, Georgia issued a policy bulletin providing guidance to organizations exempt from federal income tax under Internal Revenue Code (IRC) 501(c)(3) ("501(c)(3) organization...
HI - Hawaii updates guidance on deduction of expenses paid with PPP loan amounts
Hawaii has released updated guidance on claiming state income tax deductions for expenses paid with Paycheck Protection Program (PPP) loan amounts. The Department of Taxation previously indicated in T...
Hawaii has released updated guidance on claiming state income tax deductions for expenses paid with Paycheck Protection Program (PPP) loan amounts. The Department of Taxation previously indicated in T...
ID - Calculation of estimated tax payments using commission's website discussed
The Idaho State Tax Commission has issued a release discussing the calculation of estimated property tax payments using a calculator on the commission’s website. Taxpayers in 30 Idaho counties can e...
The Idaho State Tax Commission has issued a release discussing the calculation of estimated property tax payments using a calculator on the commission’s website. Taxpayers in 30 Idaho counties can e...
IL - Guidance on compliance and reporting issues for form st-1 issued
The Illinois Department of Revenue (department) issued a compliance alert informing sales and use taxpayer that the department has identified a large number of retailers who filed Form ST-1, Sales an...
The Illinois Department of Revenue (department) issued a compliance alert informing sales and use taxpayer that the department has identified a large number of retailers who filed Form ST-1, Sales an...
IA - Business interest expense guidance updated
Iowa recently updated its business interest expense guidance for corporate income taxpayers. Iowa’s conformity with the federal limitations on business interest expense deductions under IRC Sec. 163...
Iowa recently updated its business interest expense guidance for corporate income taxpayers. Iowa’s conformity with the federal limitations on business interest expense deductions under IRC Sec. 163...
MD - Evidence for claiming refund under statute of limitation discussed
The Court of Special Appeals of Maryland (court), in a personal income tax matter, determined that in a situation where a taxpayer mails a claim for a refund, but the Comptroller of Maryland does not ...
The Court of Special Appeals of Maryland (court), in a personal income tax matter, determined that in a situation where a taxpayer mails a claim for a refund, but the Comptroller of Maryland does not ...
MA - Millionaire tax bill introduced
A bill introduced in Massachusetts proposes to amend the state constitution to allow an additional personal income tax on millionaires.Constitutional Amendment ProcessProposals to amend the Massachuse...
A bill introduced in Massachusetts proposes to amend the state constitution to allow an additional personal income tax on millionaires.Constitutional Amendment ProcessProposals to amend the Massachuse...
NV - State high court upholds decision invalidating parts of 2019 MBT legislation
The Nevada Supreme Court affirmed a district court decision that invalidated portions of a 2019 law (S.B. 551) affecting the rates of the modified business tax. The law had resulted in Nevada continui...
The Nevada Supreme Court affirmed a district court decision that invalidated portions of a 2019 law (S.B. 551) affecting the rates of the modified business tax. The law had resulted in Nevada continui...
NM - Guidance on gross receipts tax holiday revised
The New Mexico Taxation and Revenue Department has revised its publication providing information on the gross receipts tax holiday. The publication covers numerous topics, including a general summary ...
The New Mexico Taxation and Revenue Department has revised its publication providing information on the gross receipts tax holiday. The publication covers numerous topics, including a general summary ...
NY - Assessments on taxpayer's parcels reduced
The New York Supreme Court, Appellate Division modified the Supreme Court’s decision by reducing the 2014, 2015 and 2016 property tax assessments on the taxpayer’s parcels because the 4% capitaliz...
The New York Supreme Court, Appellate Division modified the Supreme Court’s decision by reducing the 2014, 2015 and 2016 property tax assessments on the taxpayer’s parcels because the 4% capitaliz...
NC - Trust's liability to file state income tax return discussed
In a letter ruling, North Carolina Department of Revenue determined a trust’s liability to file a state trust income tax return. In this matter the trust earned intangible income from investments, w...
In a letter ruling, North Carolina Department of Revenue determined a trust’s liability to file a state trust income tax return. In this matter the trust earned intangible income from investments, w...
ND - Reporting requirements for special event organizers amended
A special event organizer or promoter must provide a list of all participating vendors to the North Dakota State Tax Commissioner for sales and use tax purposes if there are at least 25 vendors at an ...
A special event organizer or promoter must provide a list of all participating vendors to the North Dakota State Tax Commissioner for sales and use tax purposes if there are at least 25 vendors at an ...
OH - Ohio state university airport qualifies for exemption
The entire parcel used by the Ohio State University (OSU) to operate the OSU Airport is entitled to property tax exemption because it qualifies as property of the state "held for the use and benefit ...
The entire parcel used by the Ohio State University (OSU) to operate the OSU Airport is entitled to property tax exemption because it qualifies as property of the state "held for the use and benefit ...
OR - Residential housing to replace housing damaged by wildfire is exempt from construction taxes
Residential housing constructed on a lot to replace residential housing that was destroyed or damaged by a wildfire or other event constituting a state of emergency, is exempt from Oregon school distr...
Residential housing constructed on a lot to replace residential housing that was destroyed or damaged by a wildfire or other event constituting a state of emergency, is exempt from Oregon school distr...
PA - Tax update discussing new features of online tax portal issued
In its recent tax update, Pennsylvania Department of Revenue discusses:New features of online tax filing portal: myPath;Features in myPath, that allow tax practitioners who handle Fiduciary Tax Retur...
In its recent tax update, Pennsylvania Department of Revenue discusses:New features of online tax filing portal: myPath;Features in myPath, that allow tax practitioners who handle Fiduciary Tax Retur...
TN - Tennessee enacts tax holiday for food, food ingredients, and prepared food
A Tennessee sales and use tax holiday is enacted for food, food ingredients, and prepared food sold from July 30, 2021 through August 5, 2021.Food and Food Ingredients Tax HolidayA sales and use tax e...
A Tennessee sales and use tax holiday is enacted for food, food ingredients, and prepared food sold from July 30, 2021 through August 5, 2021.Food and Food Ingredients Tax HolidayA sales and use tax e...
TX - Law exempting multi-campus charities from property taxes passed
Taxes passed a law providing property tax exemption to certain property owned by a charitable organization and used in providing housing and related services to certain homeless individuals. H.B. 115...
Taxes passed a law providing property tax exemption to certain property owned by a charitable organization and used in providing housing and related services to certain homeless individuals. H.B. 115...
UT - Sample projection audit method did not properly represent taxpayer's sales
The Utah State Tax Commission ordered a recalculation of a sales and use tax deficiency issued against a taxpayer as the taxpayer presented evidence showing that the sample projection audit method use...
The Utah State Tax Commission ordered a recalculation of a sales and use tax deficiency issued against a taxpayer as the taxpayer presented evidence showing that the sample projection audit method use...
VA - More guidance issued on informational combined reporting requirement
Virginia has released additional guidance for corporations needing to file a one-time report by July 1, 2021, showing the difference between the amount of tax the corporation would pay if it filed as ...
Virginia has released additional guidance for corporations needing to file a one-time report by July 1, 2021, showing the difference between the amount of tax the corporation would pay if it filed as ...
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