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Tuition Debt Relief Will Not Be Taxable Income
The recently announced tuition debt relief program will not add to the tax burden of individuals who are able to take advantage of the program, the White House said."Thanks to the American Rescue Plan...
The recently announced tuition debt relief program will not add to the tax burden of individuals who are able to take advantage of the program, the White House said."Thanks to the American Rescue Plan...
Rates Used in Computing Special Use Value Issued, Rev. Rul. 2022-16
A listing of the average annual effective interest rates on new loans under the Farm Credit System has been issued by the IRS. The rates are used in computing the special use value of farm real proper...
A listing of the average annual effective interest rates on new loans under the Farm Credit System has been issued by the IRS. The rates are used in computing the special use value of farm real proper...
IRS Unintentionally Releases Form 990-T Data
The Internal Revenue Service announced that it has unintentionally made certain data collected from Form 990-T available for bulk download through its Tax Exempt Organization Search tool.In a Septembe...
The Internal Revenue Service announced that it has unintentionally made certain data collected from Form 990-T available for bulk download through its Tax Exempt Organization Search tool.In a Septembe...
IRS Clarifies Instructions for Form 8996, IRS Post-Release Changes to Tax Forms, Instructions, and Publications
The IRS has clarified that qualified opportunity zone businesses should not file Form 8996. Form 8996 is filed only by qualified opportunity funds.The 2022 Instructions for Form 8996, Qualified Opport...
The IRS has clarified that qualified opportunity zone businesses should not file Form 8996. Form 8996 is filed only by qualified opportunity funds.The 2022 Instructions for Form 8996, Qualified Opport...
List of Countries with U.S. Exchange of Information Agreements Updated, Rev. Proc. 2022-35
The IRS has supplemented the list of countries with which the U.S. has an agreement relating to the exchange of tax information. Turkey has been to the list of jurisdictions with which the Treasury an...
The IRS has supplemented the list of countries with which the U.S. has an agreement relating to the exchange of tax information. Turkey has been to the list of jurisdictions with which the Treasury an...
AZ - Lienholders pre-litigation notices of intent to foreclose tax liens were sufficient
The Arizona Supreme Court determined that property tax lienholders provided sufficient notices of intent to foreclose the taxpayer's properties because their efforts to provide notice to the taxpayer ...
The Arizona Supreme Court determined that property tax lienholders provided sufficient notices of intent to foreclose the taxpayer's properties because their efforts to provide notice to the taxpayer ...
CA - Caeatfa authorized to provide additional $15 million for lithium extraction exclusion
The California Alternative Energy and Advanced Transportation Financing Authority (CAEATFA) is authorized to provide an additional $15 million of sales and use tax exclusions for certain calendar year...
The California Alternative Energy and Advanced Transportation Financing Authority (CAEATFA) is authorized to provide an additional $15 million of sales and use tax exclusions for certain calendar year...
CO - Colorado announces interest rate for tax delinquencies
Colorado has announced the upcoming interest rate for tax delinquencies. Beginning October 1, 2022, the interest rate is 12%. Memorandum, Colorado Department of Regulatory Agencies, September 6, 2022...
Colorado has announced the upcoming interest rate for tax delinquencies. Beginning October 1, 2022, the interest rate is 12%. Memorandum, Colorado Department of Regulatory Agencies, September 6, 2022...
FL - Taxpayer lacked standing to challenge department's former practice
The taxpayer did not have standing to contest a notice of proposed assessment that assessed Florida sales and use tax, a penalty, and interest.Department's Former Practice Regarding Notices of Propose...
The taxpayer did not have standing to contest a notice of proposed assessment that assessed Florida sales and use tax, a penalty, and interest.Department's Former Practice Regarding Notices of Propose...
GA - Deduction for dependent unborn child discussed
Georgia will recognize any unborn child with a detectable human heartbeat as eligible for the Georgia personal income tax dependent exemption.While providing guidance related to House Bill 481, Livin...
Georgia will recognize any unborn child with a detectable human heartbeat as eligible for the Georgia personal income tax dependent exemption.While providing guidance related to House Bill 481, Livin...
HI - Kauai county property tax exemption reminder
The Kauai County, Hawaii, Department of Finance reminds the public that the deadline to file upcoming 2023 Real Property Tax Exemptions is September 30, 2022. To qualify for a home exemption, property...
The Kauai County, Hawaii, Department of Finance reminds the public that the deadline to file upcoming 2023 Real Property Tax Exemptions is September 30, 2022. To qualify for a home exemption, property...
ID - Interest rate on tax delinquencies and refunds set for 2023
For 2023, the interest rate on an underpayment or overpayment of Idaho corporate income tax, personal income tax, sales and use tax, or any other non-property tax administered by the Idaho State Tax C...
For 2023, the interest rate on an underpayment or overpayment of Idaho corporate income tax, personal income tax, sales and use tax, or any other non-property tax administered by the Idaho State Tax C...
IL - Improper reporting of grocery tax suspension sales on form st-1 discussed
Illinois issued a release stating that some retailers are not properly reporting their receipts for sales that qualify for the suspension of the low rate (1%) of state sales and use tax on retail sale...
Illinois issued a release stating that some retailers are not properly reporting their receipts for sales that qualify for the suspension of the low rate (1%) of state sales and use tax on retail sale...
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 - Taxpayer's appeal dismissed for lack of jurisdiction
For Massachusetts property tax purposes, the Appellate Tax Board (Board) granted the board of assessors’ motion to dismiss the taxpayer’s appeal because it lacked jurisdiction to consider the appe...
For Massachusetts property tax purposes, the Appellate Tax Board (Board) granted the board of assessors’ motion to dismiss the taxpayer’s appeal because it lacked jurisdiction to consider the appe...
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 - Correction to published gallup gross receipts tax rate
The New Mexico Taxation and Revenue Department announced that it inadvertently published an incorrect Gross Receipts Tax (GRT) rate for the city of Gallup for the current July-January period. The corr...
The New Mexico Taxation and Revenue Department announced that it inadvertently published an incorrect Gross Receipts Tax (GRT) rate for the city of Gallup for the current July-January period. The corr...
NY - Taxpayer's petition denied due to lack of jurisdiction
A New York taxpayer’s petition for revision of a determination or for a refund of sales and use taxes was denied because the Division of Tax Appeals (DTA) lacked jurisdiction to consider the merits ...
A New York taxpayer’s petition for revision of a determination or for a refund of sales and use taxes was denied because the Division of Tax Appeals (DTA) lacked jurisdiction to consider the merits ...
NC - Alleghany county increases local tax rate
Effective October 1, 2022, Alleghany County in North Carolina increases its local sales and use tax rate by 0.25%. As of that date, the total general state rate and local rate of sales and use tax in ...
Effective October 1, 2022, Alleghany County in North Carolina increases its local sales and use tax rate by 0.25%. As of that date, the total general state rate and local rate of sales and use tax in ...
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 - Guidance on taxability of internet access and on-line services updated
The Ohio Department of Taxation has updated its guidance on on-line services and internet access to reflect that federal legislation has terminated the previous grandfather clause that permitted Ohio ...
The Ohio Department of Taxation has updated its guidance on on-line services and internet access to reflect that federal legislation has terminated the previous grandfather clause that permitted Ohio ...
OR - Business income of airline included departures of its unitary group members
For Oregon corporate income tax purposes, an airline corporation's (a part of an airline group) business income was required to include the departure of aircraft operated by a regional airline, owned ...
For Oregon corporate income tax purposes, an airline corporation's (a part of an airline group) business income was required to include the departure of aircraft operated by a regional airline, owned ...
PA - Taxpayer properly denied charitable exemption claim as it failed to satisfy HUP test
The Pennsylvania Commonwealth Court affirmed its determination that a nonprofit senior living community (taxpayer) was properly denied a charitable sales and use tax exemption because it failed to sat...
The Pennsylvania Commonwealth Court affirmed its determination that a nonprofit senior living community (taxpayer) was properly denied a charitable sales and use tax exemption because it failed to sat...
TN - Interest rate for 2022-2023 announced
The interest rate on all taxes collected or administered by the Tennessee Department of Revenue is 8% (formerly, 7.25%) effective July 1, 2022, through June 30, 2023. The interest rate on all tax liab...
The interest rate on all taxes collected or administered by the Tennessee Department of Revenue is 8% (formerly, 7.25%) effective July 1, 2022, through June 30, 2023. The interest rate on all tax liab...
TX - July 2022 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 2022 is $73.35 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 2022 is $73.35 per barrel for the three-month period beginning on April 1, ...
UT - Taxpayer's appeal of county's dismissal of untimely exemption request denied
For Utah property tax purposes, the county board of equalization properly dismissed the taxpayer’s late-filed appeal regarding the tax year 2020. The taxpayer, a property owner, filed with the State...
For Utah property tax purposes, the county board of equalization properly dismissed the taxpayer’s late-filed appeal regarding the tax year 2020. The taxpayer, a property owner, filed with the State...
VA - Appeal barred by statute of limitations
A taxpayer’s administrative appeal regarding a Virginia sales and use tax assessment was barred by the statute of limitations because a complete administrative appeal was not filed within the 90-day...
A taxpayer’s administrative appeal regarding a Virginia sales and use tax assessment was barred by the statute of limitations because a complete administrative appeal was not filed within the 90-day...
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