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2023 Health Savings Account Inflation Adjustments Released, Rev. Proc. 2022-24
The IRS has released the 2023 inflation-adjusted amounts for health savings accounts under Code Sec. 223. For calendar year 2023, the annual limitation on deductions under Code Sec. 223(b)(2) for a...
The IRS has released the 2023 inflation-adjusted amounts for health savings accounts under Code Sec. 223. For calendar year 2023, the annual limitation on deductions under Code Sec. 223(b)(2) for a...
2022 Allowable Living Expense Standards Provided
The IRS has updated its website to provide the Allowable Living Expense (ALE) standards for 2022. These standards are used to help determine a taxpayer's ability to pay a delinquent tax liability. ALE...
The IRS has updated its website to provide the Allowable Living Expense (ALE) standards for 2022. These standards are used to help determine a taxpayer's ability to pay a delinquent tax liability. ALE...
U.S. Bans Accounting Services to Russia
The Treasury Department announced on May 8, 2022, that the exportation, reexportation, sale, or supply, directly or indirectly, from the United States, or by a United States person, wherever located, ...
The Treasury Department announced on May 8, 2022, that the exportation, reexportation, sale, or supply, directly or indirectly, from the United States, or by a United States person, wherever located, ...
2022 Marginal Production Percentage Depletion Rates Announced, Notice 2022-24
The IRS has announced the applicable percentage under Code Sec. 613A to be used in determining percentage depletion for marginal properties for the 2022 calendar year. Code Sec. 613A(c)(6)(C) defi...
The IRS has announced the applicable percentage under Code Sec. 613A to be used in determining percentage depletion for marginal properties for the 2022 calendar year. Code Sec. 613A(c)(6)(C) defi...
GAO Examines Federal COVID-19 Response, GAO-22-105397
The Government Accountability Office (GAO) has issued a report examining the federal government’s continued efforts to respond to and recover from the COVID-19 pandemic. In conducting its examinatio...
The Government Accountability Office (GAO) has issued a report examining the federal government’s continued efforts to respond to and recover from the COVID-19 pandemic. In conducting its examinatio...
FAQs for Payment by Indian Tribal Governments and Alaska Native Corporations to Individuals Finalized, FS-2022-23; IR-2022-68
The IRS has issued final frequently asked questions (FAQs) for payments by Indian Tribal Governments and Alaska Native Corporations to individuals under COVID- Relief Legislation. These reflect update...
The IRS has issued final frequently asked questions (FAQs) for payments by Indian Tribal Governments and Alaska Native Corporations to individuals under COVID- Relief Legislation. These reflect update...
IRS Reminds Tax-Exempt Organizations about May 16 Filing Deadline, IR-2022-93
The IRS reminded tax-exempt organizations about the May 16, 2022, filing deadline for many of them. Those tax-exempt organizations that operate on a calendar-year basis have to file the following retu...
The IRS reminded tax-exempt organizations about the May 16, 2022, filing deadline for many of them. Those tax-exempt organizations that operate on a calendar-year basis have to file the following retu...
AZ - IRC conformity updated
Arizona has updated its conformity to the Internal Revenue Code (IRC) for income tax purposes. For tax years beginning after 2021, Arizona now conforms to the IRC as amended and in effect on January 1...
Arizona has updated its conformity to the Internal Revenue Code (IRC) for income tax purposes. For tax years beginning after 2021, Arizona now conforms to the IRC as amended and in effect on January 1...
CA - Unreported installment sale gain properly accelerated
An out of state S corporation and its shareholders group (taxpayers) were properly subject to additional California corporate income tax assessment as the S corporation (corporation) was dissolved and...
An out of state S corporation and its shareholders group (taxpayers) were properly subject to additional California corporate income tax assessment as the S corporation (corporation) was dissolved and...
CO - Heart monitor does not qualify for medical devices exemption
The Colorado Department of Revenue (department) issued a letter ruling discussing the application of sales and use tax on the retail sale of heart monitors. In this matter a company (taxpayer) sold he...
The Colorado Department of Revenue (department) issued a letter ruling discussing the application of sales and use tax on the retail sale of heart monitors. In this matter a company (taxpayer) sold he...
FL - IRC conformity legislation sent to governor
The Florida Senate approved and sent to Gov. Ron DeSantis legislation that would modify the IRC conformity tie-date for computing corporate income tax liability. H.B. 7071, as approved by the Florida...
The Florida Senate approved and sent to Gov. Ron DeSantis legislation that would modify the IRC conformity tie-date for computing corporate income tax liability. H.B. 7071, as approved by the Florida...
GA - New tax rate chart released for sales exempt from certain local taxes
The Georgia Department of Revenue has released a sales and use tax rate chart for sales exempt from certain local taxes. The rates are effective April 1, 2022. Georgia Sales and Use Tax Rates - Sal...
The Georgia Department of Revenue has released a sales and use tax rate chart for sales exempt from certain local taxes. The rates are effective April 1, 2022. Georgia Sales and Use Tax Rates - Sal...
HI - New deadline for employers to file and furnish form W-2/HW-2 discussed
For personal income tax withholding purposes, the Hawaii Department of Taxation (department) has issued a tax announcement to remind all Hawaii employers about changes to due dates for Form W-2/HW-2.E...
For personal income tax withholding purposes, the Hawaii Department of Taxation (department) has issued a tax announcement to remind all Hawaii employers about changes to due dates for Form W-2/HW-2.E...
ID - Bonus depreciation adjustment provisions revised
Idaho has amended a 2021 law originally enacted to clarify that certain federal bonus depreciation should not be added back in determining Idaho taxable income. The new amendments change the 2021 law ...
Idaho has amended a 2021 law originally enacted to clarify that certain federal bonus depreciation should not be added back in determining Idaho taxable income. The new amendments change the 2021 law ...
IL - Final boone county multiplier announced for 2021
The final Boone County equalization factor (multiplier) for Illinois property tax purposes has been set for 2021 at 1.0000. The final 2020 multiplier was also 1.0000. Release, Illinois Department of ...
The final Boone County equalization factor (multiplier) for Illinois property tax purposes has been set for 2021 at 1.0000. The final 2020 multiplier was also 1.0000. Release, Illinois Department of ...
IA - Economic development legislation enacted
Iowa has enacted legislation amending income tax credits including:extending the authorization of the Iowa Energy Center (IEC) and the IEC Board through the end of 2027 and requires the IEC to support...
Iowa has enacted legislation amending income tax credits including:extending the authorization of the Iowa Energy Center (IEC) and the IEC Board through the end of 2027 and requires the IEC to support...
MD - Bipartisan tax relief agreement announced
Maryland Gov. Larry Hogan, Senate President Bill Ferguson, and House Speaker Adrienne A. Jones have announced they have reached a bipartisan agreement to provide $1.86 billion in tax relief over five ...
Maryland Gov. Larry Hogan, Senate President Bill Ferguson, and House Speaker Adrienne A. Jones have announced they have reached a bipartisan agreement to provide $1.86 billion in tax relief over five ...
MA - Tiered minimum tax proposed
The Massachusetts legislature is considering 2021 carryover legislation that proposes a tiered minimum corporate excise tax. The minimum tax would increase based on a corporation's total sales in Mass...
The Massachusetts legislature is considering 2021 carryover legislation that proposes a tiered minimum corporate excise tax. The minimum tax would increase based on a corporation's total sales in Mass...
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 - New Mexico pass-through entity-level tax enacted
Applicable to taxable years beginning on or after January 1, 2022, New Mexico will allow pass-through entities to pay income tax at the entity level. The entity-level tax is imposed on the distributed...
Applicable to taxable years beginning on or after January 1, 2022, New Mexico will allow pass-through entities to pay income tax at the entity level. The entity-level tax is imposed on the distributed...
NY - Petition dismissed for lack of jurisdiction
A taxpayer’s petition for revision of a determination of New York State sales and use tax was dismissed as the Division of Tax Appeals (division) lacked subject matter jurisdiction. In this matter, ...
A taxpayer’s petition for revision of a determination of New York State sales and use tax was dismissed as the Division of Tax Appeals (division) lacked subject matter jurisdiction. In this matter, ...
NC - Taxpayer meets the definition of "marketplace facilitator"
Taxpayer, an affiliate of original equipment manufacturers (OEMs) that sell parts through their network, is a marketplace facilitator who makes marketplace facilitated sales in North Carolina for sale...
Taxpayer, an affiliate of original equipment manufacturers (OEMs) that sell parts through their network, is a marketplace facilitator who makes marketplace facilitated sales in North Carolina for sale...
ND - Summary of 2021 legislation released
North Dakota issued a summary containing highlights of corporate and personal income tax legislation enacted in 2021, including laws that:expanded the credits for nonprofit private school contribution...
North Dakota issued a summary containing highlights of corporate and personal income tax legislation enacted in 2021, including laws that:expanded the credits for nonprofit private school contribution...
OH - Changes for employers to report tax year 2021 W-2/1099-R discussed
Ohio informs employers that the Department of Taxation (department) is lowering the threshold for the electronic filing of W-2 and 1099-R information for calendar year 2021 information (submitted in 2...
Ohio informs employers that the Department of Taxation (department) is lowering the threshold for the electronic filing of W-2 and 1099-R information for calendar year 2021 information (submitted in 2...
OR - Funded research activities not qualified for research credit
For Oregon corporate income and personal income tax purpose, a corporation and its shareholders (taxpayers), were properly denied research tax credit as the taxpayers failed to establish whether or to...
For Oregon corporate income and personal income tax purpose, a corporation and its shareholders (taxpayers), were properly denied research tax credit as the taxpayers failed to establish whether or to...
PA - Dismissal of taxpayer’s uniformity challenge upheld
A Pennsylvania trial court did not err in determining that the taxpayer was not entitled to property tax abatement on its apartment complex because the taxpayer failed to prove that the assessment of ...
A Pennsylvania trial court did not err in determining that the taxpayer was not entitled to property tax abatement on its apartment complex because the taxpayer failed to prove that the assessment of ...
TN - State decouples from TCJA changes to research deduction
Tennessee has decoupled from the federal Tax Cuts and Jobs Act changes affecting the deduction under IRC Sec. 174 for research and experimental expenditures. Accordingly, for tax years beginning after...
Tennessee has decoupled from the federal Tax Cuts and Jobs Act changes affecting the deduction under IRC Sec. 174 for research and experimental expenditures. Accordingly, for tax years beginning after...
TX - Audiovisual service provider was properly denied franchise tax refund
An audiovisual equipment and service provider was properly denied Texas franchise tax refund as the taxpayer's payments made to hotels that are corporations were not required to be included on Form 10...
An audiovisual equipment and service provider was properly denied Texas franchise tax refund as the taxpayer's payments made to hotels that are corporations were not required to be included on Form 10...
UT - Mobile workforce exemption created
The wages of some nonresident individuals who work in the state for 20 or fewer days will not be subject to Utah income tax, beginning in tax year 2023. To qualify for the tax exemption:the individual...
The wages of some nonresident individuals who work in the state for 20 or fewer days will not be subject to Utah income tax, beginning in tax year 2023. To qualify for the tax exemption:the individual...
VA - Expiration of exemption for covid-19 PPE effective march 24, 2022, discussed
The Virginia Department of Taxation issued a bulletin regarding the expiration of the retail sales and use tax exemption for personal protective equipment (PPE) related to COVID-19. Effective March 24...
The Virginia Department of Taxation issued a bulletin regarding the expiration of the retail sales and use tax exemption for personal protective equipment (PPE) related to COVID-19. Effective March 24...
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