Mondaq USA: Tax
McDermott Will & Emery
A class action complaint was filed in federal court last week against the operator of a grocery chain, alleging failure to deduct manufacturers’ coupons from the tax base on which sales tax was calculated and collected from customers.
Fox Rothschild LLP
The proposed regulations apply to requests for relief submitted on or after the date the final regulations become effective.
McDermott Will & Emery
On February 20, 2015, Sen. William Haine introduced Senate Bill 1573, which would repeal the self-procurement tax that came into effect January 1, 2015.
Withers LLP
An individual may become a US citizen at birth by being born within the US or by having a US citizen parent.
Bradley Arant Boult Cummings LLP
One of Alabama’s most influential business and trade organizations, the 5,000-member Business Council of Alabama, has issued its 2015 tax legislative agenda.
McDermott Will & Emery
The year 2015 promises to be an active one in U.S. international tax policy.
Fox Rothschild LLP
The general rule is that personal expenses are almost never deductible by taxpayers on Schedule "A" (Itemized Deductions) of their personal returns.
McDermott Will & Emery
Renewable energy continues to be an active area for tax planning following the legislative extension in late 2014 of the federal tax credits for wind, solar and other renewable projects.
Fox Rothschild LLP
In Notice 2014-44, 2014-32 IRB 270 (7/21/2014), the Service announced on July 21 of last Summer, that it will be issuing regulations under §901(m)(1) to dispositions of assets ...
Grant Thornton LLP
The Senate Finance Committee approved a package of 17 relatively noncontroversial bills last week that includes provisions to ease restrictions under the Foreign Investment Real Property Tax Act of 1980...
Grant Thornton LLP
House Republicans advanced permanent extensions of several popular expired tax provisions last week despite veto threats from the Obama administration and complaints from Democrats.
Grant Thornton LLP
Section 280F limits depreciation deductions for passenger cars, trucks and vans, and these limits are adjusted for inflation every year.
Grant Thornton LLP
In a private letter ruling (PLR 201505013), the IRS supplemented its previous ruling in PLR 201437013 and addressed issues related to a delay in the expected consummation of a spinoff.
Withers LLP
In the annual 'State of the Union' speech on 20 January, President Obama included a number of new tax proposals that purportedly aim to raise taxes on the wealthy and lower taxes for working families and the middle-class.
McDermott Will & Emery
The TIA provides that federal district courts "shall not enjoin, suspend or restrain the assessment, levy or collection of any tax under State law."
McGuireWoods LLP
Many healthcare companies use a "friendly" PC structure in order to comply with the "corporate practice of medicine" rules existing in many (but not all) states.
Grant Thornton LLP
In United States v. Quality Stores, Inc., 134 S. Ct. 1395 (2014), the U.S. Supreme Court ruled that severance payments at issue in the case were wages subject to Federal Insurance Contributions Act (FICA) taxes.
Grant Thornton LLP
The IRS concluded in an internal legal memorandum released Feb. 13 that a taxpayer’s nonrecourse liability affected its mark-to-market computation under Section 475(a).
Grant Thornton LLP
On February 13, Massachusetts Governor Charlie Baker signed legislation directing the Commissioner of Revenue to establish a 60-day tax amnesty program during the fiscal year ending June 30, 2015.
Waller Lansden Dortch & Davis
Article from Waller Law.
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Fox Rothschild LLP
Last week, the IRS issued its "final" versions of the forms 1094-B, 1094-C, 1095-B and 1095-C along with instructions for the "B" forms and instructions for the "C" forms.
Blank Rome LLP
Blank Rome’s annual estate planning newsletter discusses certain concepts and techniques that we hope may be of interest to our clients and friends.
McDermott Will & Emery
FATCA went into effect on July 1, 2014, after numerous delays and multiple rounds of administrative guidance.
Grant Thornton LLP
The Illinois Department of Revenue is eliminating Form IL-1023-C and Form IL-1000 for tax years ending on or after December 31, 2014.
Duane Morris LLP
On June 18, 2014, the Internal Revenue Service (IRS) announced major changes in its offshore voluntary compliance programs.
Grant Thornton LLP
The IRS recently released two Revenue Procedures that provide a comprehensive update to the procedures for filing both automatic and non-automatic accounting method changes.
BakerHostetler
Estate planning professionals commonly encounter married couples with mixed nationalities.
Duane Morris LLP
The following are select tax topics affecting individuals and businesses for tax year 2014. Several issues of significance to individuals and businesses for 2013 remain relevant for 2014 and are noted below.
Holland & Knight
The IRS announced substantial changes to both the Streamlined Filing Compliance Procedures for Non-Resident, Non-Filer Taxpayers and the OVDP.
Fox Rothschild LLP
These regulations provide guidance on reporting requirements for U.S. taxpayers owning interests in PFICs.
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