Mondaq USA: Tax
Grant Thornton LLP
The Michigan Court of Appeals has held that the Michigan Court of Claims erred when it failed to issue an order granting summary disposition in favor of International Business Machines Corp.
Proskauer Rose LLP
A brief background on private letter rulings and no-rule areas under Section 355 follows.
Morrison & Foerster LLP
Effective May 11, 2016, the North Carolina General Assembly amended the royalty reporting option contained in Section 105-130.7A(a).
Grant Thornton LLP
In an effort to close an estimated $600 million deficit in the FY 2017 budget, Louisiana Governor John Bel Edwards called for the Louisiana legislature to hold a Second Special Session during June 2016.
Frankfurt Kurnit Klein & Selz
There's important news for family business owners and their heirs. On August 4, 2016, the IRS released proposed regulations to change significantly the valuation of family businesses.
Grant Thornton LLP
The DC Court of Appeals held that the Office of Administrative Hearings (OAH) abused its discretion in applying offensive non-mutual collateral estoppel against the DC Office of Tax and Revenue...
Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C.
As with the previous safe harbors, there is a prohibition against sharing of net profits.
Grant Thornton LLP
On June 28, 2016, the United States District Court for the District of Delaware determined that Delaware's unclaimed property audit procedures violated substantive due process.
Goldin Peiser & Peiser, LLP
According to the IRS, 83% of U.S. taxpayers accurately report their income and pay their taxes.
Reed Smith
The Tax Court ruled that the Comptroller's policy violated both Maryland statutory law and federal law.
McDermott Will & Emery
Below is a more in-depth discussion of the intricacies of the bill.
Grant Thornton LLP
Arizona Governor Doug Ducey recently signed legislation which modifies and expands two credits available to businesses expanding in or relocating to Arizona.
Grant Thornton LLP
On the individual side, Trump proposed a full deduction of the "average cost of child care spending" and a repeal of the estate tax.
Grant Thornton LLP
The IRS recently issued Announcement 2016-27, which provides guidance on which jurisdictions are treated as if they have an intergovernmental agreement (IGA) in effect...
Grant Thornton LLP
Multinational companies should evaluate how these proposals will affect their financial statements and evaluate their preparedness if the proposal become required.
Shearman & Sterling LLP
The Treasury Department issued proposed regulations regarding valuation discounts of interests in corporations and partnerships for estate, gift and generation-skipping transfer tax purposes.
McDermott Will & Emery
We will continue to follow these matters and provide updates in the future.
Ropes & Gray LLP
The new safe harbor is a significant improvement over the current guidance, and generally provides guidelines that are flexible and easy to administer.
McDermott Will & Emery
The Internal Revenue Service recently issued revised draft Forms 1094-C and 1095-C and related instructions for use for the 2016 reporting year.
Holland & Knight
Every year, the U.S. Department of Treasury and the Internal Revenue Service issue a Priority Guidance Plan to identify the guidance that they intend to focus on during the next 12 months.
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Baker Botts LLP
On July 22, 2016, the Internal Revenue Service (the "IRS") and the Department of the Treasury ("Treasury") released proposed and temporary regulations under Section 50 of the Internal Revenue Code of 1986, as amended (the "Code")
MSPC
The Patient Protection and Affordable Care Act of 2010 (the "ACA") imposes significant information reporting responsibilities on certain employers starting with the 2015 calendar year.
Dentons
The Foreign Account Tax Compliance Act ("FATCA") was enacted in 2010 by Congress to target non-compliance by U.S. taxpayers using foreign accounts.
Fox Rothschild LLP
I bet you didn't know that they are taxed.
Fox Rothschild LLP
Tax and accounting issues you should not ignore when setting up your cannabis business:
McDermott Will & Emery
Each program has its own set of tailored procedures and eligibility requirements.
McDermott Will & Emery
The GIIN assigned as a result of this registration option then instructs IDES to route transmissions directly to the IRS.
Caplin & Drysdale
On August 4, 2016, the Treasury Department issued its first temporary regulations under the new partnership audit and collection regime found in the Bipartisan Budget Act of 2015.
McDermott Will & Emery
To prevent tax evasion and ensure that taxpayers appropriately allocate taxable income between related entities, intercompany agreements must be negotiated at arm's length.
Reinhart Boerner Van Deuren S.C.
After much anticipation, the Internal Revenue Service issued proposed regulations on August 2, 2016, limiting the ability to take valuation discounts in connection with certain intra-family.
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