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2019 Tax Year in ReviewConsolidated Appropriations Act, 20202019 Year-End Tax Planning2019 Post-Filing Season Update
New Refundable Payroll Tax Credits for Small Employers; Highlights of Key Features of Families First Coronavirus Response Act
Two new refundable payroll tax credits are provided for small and midsize employers, designed to immediately and fully reimburse them, for the cost of providing Coronavirus-related leave to their empl...
Two new refundable payroll tax credits are provided for small and midsize employers, designed to immediately and fully reimburse them, for the cost of providing Coronavirus-related leave to their empl...
Employee Retention Credit Available for Businesses Affected by COVID-19
The Treasury Department and the IRS have launched the employee retention credit for businesses that have been financially affected by COVID-19. The credit is specifically designed to encourage busines...
The Treasury Department and the IRS have launched the employee retention credit for businesses that have been financially affected by COVID-19. The credit is specifically designed to encourage busines...
Claim Employee Retention Credit for First Quarter Qualified Wages on Second Quarter Form 941
The IRS has instructed employers that file quarterly employment tax returns (Form 941, 941-SS, or 941-PR) and are eligible for the new employee retention credit to not claim the credit on th...
The IRS has instructed employers that file quarterly employment tax returns (Form 941, 941-SS, or 941-PR) and are eligible for the new employee retention credit to not claim the credit on th...
Online Tool Helps Non-Filers Register for Economic Impact Payments
The Treasury Department and the IRS urge taxpayers who do not normally file a return to use the newly launched online tool called "Non-filers: Enter Payment Info Here" ( https://www.irs...
The Treasury Department and the IRS urge taxpayers who do not normally file a return to use the newly launched online tool called "Non-filers: Enter Payment Info Here" ( https://www.irs...
SSI Recipients to Get Automatic Economic Impact Payments
The IRS, the Treasury Department, and the Social Security Administration, announced that recipients of Supplemental Security Income (SSI) would automatically receive Economic Impact Payments (EIPs). S...
The IRS, the Treasury Department, and the Social Security Administration, announced that recipients of Supplemental Security Income (SSI) would automatically receive Economic Impact Payments (EIPs). S...
IRS Reports Rise in Free File Use
The IRS reported a record increase in the use of Free File products for entering and filing federal income taxes. A total of 2.9 million tax returns was recorded through the Free File program since Ja...
The IRS reported a record increase in the use of Free File products for entering and filing federal income taxes. A total of 2.9 million tax returns was recorded through the Free File program since Ja...
VA Benefits Recipients Will Automatically Receive EIPs
The IRS has announced that recipients of benefits from the Department of Veterans Affairs (VA benefits) will automatically receive Economic Impact Payments (EIPs). Veterans and their beneficiaries who...
The IRS has announced that recipients of benefits from the Department of Veterans Affairs (VA benefits) will automatically receive Economic Impact Payments (EIPs). Veterans and their beneficiaries who...
IRS Spotlights Social Media, e-News Resources for Updates on COVID-19
The IRS urges taxpayers, businesses, tax professionals and others to follow its official social media accounts and email subscription lists to stay updated in connection with COVID-19 and economic imp...
The IRS urges taxpayers, businesses, tax professionals and others to follow its official social media accounts and email subscription lists to stay updated in connection with COVID-19 and economic imp...
Taxpayers Warned Against Coronavirus Scams
The IRS has warned taxpayers against tax scams and identity thefts related to the coronavirus (COVID-19). Taxpayers are expected to watch out for calls, emails, text messages, websites and social medi...
The IRS has warned taxpayers against tax scams and identity thefts related to the coronavirus (COVID-19). Taxpayers are expected to watch out for calls, emails, text messages, websites and social medi...
IRS to Audit More High-Income Taxpayers, Mnuchin Tells Lawmakers
The IRS is planning to audit more high-income taxpayers, Treasury Secretary Steven Mnuchin told House lawmakers. The plan comes on the heels of recent reports that the IRS has conducted more audits of...
The IRS is planning to audit more high-income taxpayers, Treasury Secretary Steven Mnuchin told House lawmakers. The plan comes on the heels of recent reports that the IRS has conducted more audits of...
IRS Highlights Tax Tips and Benefits for Service Members
The IRS highlighted tax tips and benefits for military members, veterans and their families to assist in meeting federal income tax filing obligations. This includes active duty or reserve members of ...
The IRS highlighted tax tips and benefits for military members, veterans and their families to assist in meeting federal income tax filing obligations. This includes active duty or reserve members of ...
Population Figures Provided for Calculating Low-Income Housing Tax Credits
State and local housing credit agencies that allocate low-income housing tax credits and states and other issuers of tax-exempt private activity bonds have been provided with a listing of the proper p...
State and local housing credit agencies that allocate low-income housing tax credits and states and other issuers of tax-exempt private activity bonds have been provided with a listing of the proper p...
Additional Tax on Early Distribution from Retirement Plan is Constitutional
An individual who received a distribution from her qualified retirement plan when she was not yet 59-1/2 years old, was not disabled, and was not eligible for any of the exceptions under Code Sec...
An individual who received a distribution from her qualified retirement plan when she was not yet 59-1/2 years old, was not disabled, and was not eligible for any of the exceptions under Code Sec...
IRS Increases User Fee for Offers in Compromise
The IRS has released final regulations that increase the user fee for processing an offer in compromise from $186 to $205, effective for offers in compromise submitted on or after April 27, 2020.The f...
The IRS has released final regulations that increase the user fee for processing an offer in compromise from $186 to $205, effective for offers in compromise submitted on or after April 27, 2020.The f...
IRS Encourages Taxpayers to Save for Retirement
Highlighting the tax provisions of the newly enacted Further Consolidated Appropriations Act, 2020 (the Act), the IRS has encouraged taxpayers to save for retirement. The Act includes a number of tax ...
Highlighting the tax provisions of the newly enacted Further Consolidated Appropriations Act, 2020 (the Act), the IRS has encouraged taxpayers to save for retirement. The Act includes a number of tax ...
IRS to Increase Visits to High-Income Nonfilers
The IRS has announced that it will step up efforts to visit high-income taxpayers who in prior years have failed to timely file one or more of their tax returns. With the recent and ongoing hiring of ...
The IRS has announced that it will step up efforts to visit high-income taxpayers who in prior years have failed to timely file one or more of their tax returns. With the recent and ongoing hiring of ...
Proposed Regs Reflect Changes to Entertainment and Meal Deductions
Proposed regulations reflect the significant changes that the Tax Cuts and Jobs Act (TCJA) ( P.L. 115-97) made to the Code Sec. 274 deduction for travel and entertainment expenses. For ...
Proposed regulations reflect the significant changes that the Tax Cuts and Jobs Act (TCJA) ( P.L. 115-97) made to the Code Sec. 274 deduction for travel and entertainment expenses. For ...
Reporting Relief for 2020 IRA Required Minimum Distributions
The IRS has provided guidance to financial institutions on reporting required minimum distributions (RMDs) for 2020. The concern is that financial institutions might mistakenly treat IRA owners who tu...
The IRS has provided guidance to financial institutions on reporting required minimum distributions (RMDs) for 2020. The concern is that financial institutions might mistakenly treat IRA owners who tu...
Final Regs Reflect Updated Due Dates for Income Tax and Information Returns
The IRS has issued final regulations that update the due dates and extensions of time to file certain income tax returns and information returns to reflect legislative changes. The regulations replace...
The IRS has issued final regulations that update the due dates and extensions of time to file certain income tax returns and information returns to reflect legislative changes. The regulations replace...
IRS Launches New “Identity Theft Central” Online Resource
The IRS has announced the launch of the "Identity Theft Central," a resource designed to improve online access to information on identity theft and data security protection for taxpayers, ta...
The IRS has announced the launch of the "Identity Theft Central," a resource designed to improve online access to information on identity theft and data security protection for taxpayers, ta...
Professionals, Taxpayers Urged to Use Multi-Factor Authentication
The IRS has urged tax professionals and taxpayers to use the multi-factor authentication feature offered on tax preparation software products for preventing data thefts. Multi-factor authentication re...
The IRS has urged tax professionals and taxpayers to use the multi-factor authentication feature offered on tax preparation software products for preventing data thefts. Multi-factor authentication re...
2020 Foreign Housing Expense Limitations Released
The IRS has provided the adjustments to the limitation on foreign housing expenses for specific locations for tax year 2020. Generally, a qualified individual whose entire tax year is within the appli...
The IRS has provided the adjustments to the limitation on foreign housing expenses for specific locations for tax year 2020. Generally, a qualified individual whose entire tax year is within the appli...
2020 Standard Mileage Rates Released
The IRS has released the optional standard mileage rates for 2020. Most taxpayers may use these rates to compute deductible costs of operating vehicles for business, medical, and charitable purposes.2...
The IRS has released the optional standard mileage rates for 2020. Most taxpayers may use these rates to compute deductible costs of operating vehicles for business, medical, and charitable purposes.2...
Closed School Student Loan Relief Extended
The IRS has established a safe harbor that extends relief to certain taxpayers who took out federal or private student loans to finance attendance at certain nonprofit or for-profit schools. Under the...
The IRS has established a safe harbor that extends relief to certain taxpayers who took out federal or private student loans to finance attendance at certain nonprofit or for-profit schools. Under the...
Interim Guidance on 2020 Withholding from Retirement and Annuity Distributions
The IRS has issued interim guidance for the 2020 calendar year on income tax withholding from periodic payments for pensions, annuities, and certain other deferred income under Code Sec. 3405(a)....
The IRS has issued interim guidance for the 2020 calendar year on income tax withholding from periodic payments for pensions, annuities, and certain other deferred income under Code Sec. 3405(a)....
IRS Launches Assistant to Help Small Businesses Withhold Tax
The IRS has launched a new online assistant designed to help employers, especially small businesses, easily determine the right amount of federal income tax to withhold from their workers’ pay. ...
The IRS has launched a new online assistant designed to help employers, especially small businesses, easily determine the right amount of federal income tax to withhold from their workers’ pay. ...
IRS Launches Gig Economy Tax Center
The IRS has announced the launch of the new Gig Economy Tax Center on its website, to help individuals in this growing area meet their tax obligations through more streamlined information. I...
The IRS has announced the launch of the new Gig Economy Tax Center on its website, to help individuals in this growing area meet their tax obligations through more streamlined information. I...
IRS Provides Procedures to Claim Fuel Credits
The IRS has provided a process for eligible taxpayers to make a one-time claim for the credits and payments allowed under Code Secs. 6426(c), 6426(d) and 6427(e) for biodiesel...
The IRS has provided a process for eligible taxpayers to make a one-time claim for the credits and payments allowed under Code Secs. 6426(c), 6426(d) and 6427(e) for biodiesel...
IRS to Return Sequestered Funds Affected by OMB Determination
The IRS will return sequestered funds to businesses that were affected by a recent Office of Management and Budget (OMB) determination regarding the Balanced Budget and Emergency Deficit Control Act o...
The IRS will return sequestered funds to businesses that were affected by a recent Office of Management and Budget (OMB) determination regarding the Balanced Budget and Emergency Deficit Control Act o...
IRS to Consider Repatriation Double Taxation Relief
The IRS has announced that it has become aware of limited circumstances in which it may be appropriate to provide relief from double taxation resulting from the application of the repatriation tax und...
The IRS has announced that it has become aware of limited circumstances in which it may be appropriate to provide relief from double taxation resulting from the application of the repatriation tax und...
IRS Updates Rules on Using Per Diem Rates to Substantiate Expenses Incurred Away from Home
The IRS has updated Rev. Proc. 2011-47 to reflect changes made by the Tax Cuts and Jobs Act (TCJA) ( P.L. 115-97).The guidance provides the rules for determining the amount of an employee's ordinary a...
The IRS has updated Rev. Proc. 2011-47 to reflect changes made by the Tax Cuts and Jobs Act (TCJA) ( P.L. 115-97).The guidance provides the rules for determining the amount of an employee's ordinary a...
Electronic Filing Now Required for Requesting Unused Low-Income Housing Credit Carryover
The IRS has released guidance to qualified states regarding how to request an allocation of unused housing credit carryover under Code Sec. 42(h)(3)(D)(iii). The new guidance requires allocation reque...
The IRS has released guidance to qualified states regarding how to request an allocation of unused housing credit carryover under Code Sec. 42(h)(3)(D)(iii). The new guidance requires allocation reque...
IRS Extends Certain Deadlines, Penalty Relief for Health Coverage Forms
Health insurance providers (including employers and health insurance companies) now have until March 2, 2020, to furnish to individuals Form 1095-B, Health Coverage, and Form 1095-C, Employer-Provided...
Health insurance providers (including employers and health insurance companies) now have until March 2, 2020, to furnish to individuals Form 1095-B, Health Coverage, and Form 1095-C, Employer-Provided...
Interim Amendments for Hardship Distributions Clarified and Deadline Extended
The IRS has clarified which amendments are integral to a plan provision that fails to satisfy the qualification requirements by reason of a change made by the final hardship distribution regulations. ...
The IRS has clarified which amendments are integral to a plan provision that fails to satisfy the qualification requirements by reason of a change made by the final hardship distribution regulations. ...
2019 Required Amendments List for Employee Plans
The IRS has issued its 2019 Required Amendments List (2019 RA List) for individually designed employee retirement plans. Beginning with the 2019 list, all RA Lists will apply to both Code Sec. 401(a) ...
The IRS has issued its 2019 Required Amendments List (2019 RA List) for individually designed employee retirement plans. Beginning with the 2019 list, all RA Lists will apply to both Code Sec. 401(a) ...
Date Extended for Applying Foreign Branch Rules
A one-year extension has been granted for applying the Code Sec. 987 final regulations, and certain related final and temporary regulations covering foreign branch transactions of U.S. corporations. T...
A one-year extension has been granted for applying the Code Sec. 987 final regulations, and certain related final and temporary regulations covering foreign branch transactions of U.S. corporations. T...
Guidance Updated for Making Adequate Disclosure
The IRS has updated its guidance that identifies circumstances under which a disclosure on a taxpayer’s income tax return with respect to an item or position is "adequate" for reducing the under...
The IRS has updated its guidance that identifies circumstances under which a disclosure on a taxpayer’s income tax return with respect to an item or position is "adequate" for reducing the under...
IRS Releases 2020 Inflation-Adjusted Tax Tables, Other Amounts
The IRS has released the annual inflation adjustments for 2020 for over 60 tax provisions, including the income tax rate tables. The IRS issues these cost-of-living adjustments (COLAs) each year to re...
The IRS has released the annual inflation adjustments for 2020 for over 60 tax provisions, including the income tax rate tables. The IRS issues these cost-of-living adjustments (COLAs) each year to re...
2020 Inflation Adjustments for Pension Plans, Retirement Accounts
The IRS has released the 2020 cost-of-living adjustments (COLAs) for pension plan dollar limitations, and other retirement-related provisions.Highlights of 2020 ChangesThe contribution limit for emplo...
The IRS has released the 2020 cost-of-living adjustments (COLAs) for pension plan dollar limitations, and other retirement-related provisions.Highlights of 2020 ChangesThe contribution limit for emplo...
IRS Updates Guidance on Computing Deductions for Operating a Vehicle
The IRS has released guidance that updates Rev. Proc. 2010-51, I.R.B. 2010-51, 883 to reflect changes made to Code Secs. 67 and 217 by the Tax Cuts and Jobs Act (TCJA) ( P.L. 115-97). Rev. Proc. 2010-...
The IRS has released guidance that updates Rev. Proc. 2010-51, I.R.B. 2010-51, 883 to reflect changes made to Code Secs. 67 and 217 by the Tax Cuts and Jobs Act (TCJA) ( P.L. 115-97). Rev. Proc. 2010-...
Accounting Method Change Procedures Updated
The IRS has released guidance listing the specific changes in accounting method to which the automatic change procedures in Rev. Proc. 2015-13, I.R.B. 2015-5, 419, apply. This guidance updates and sup...
The IRS has released guidance listing the specific changes in accounting method to which the automatic change procedures in Rev. Proc. 2015-13, I.R.B. 2015-5, 419, apply. This guidance updates and sup...
Proposed Updated RMD Tables Issued
The IRS has proposed updated life expectancy and distribution period tables under the required minimum distribution (RMD) rules. The proposed tables reflect the general increase in life expectancy, an...
The IRS has proposed updated life expectancy and distribution period tables under the required minimum distribution (RMD) rules. The proposed tables reflect the general increase in life expectancy, an...
Joint Directive on Work Opportunity Tax Credit Issued
The IRS Large Business and International Division (LB&I) and Small Business/Self-Employed Division (SBSE) have issued a joint directive to provide instructions to LB&I and SBSE examiners on th...
The IRS Large Business and International Division (LB&I) and Small Business/Self-Employed Division (SBSE) have issued a joint directive to provide instructions to LB&I and SBSE examiners on th...
New LB&I Campaign on Deferred Foreign Income
The IRS Large Business and International (LB&I) has added a new active campaign to the IRS website called "IRC 965." The campaign’s goal is to promote compliance with Code Sec. 965, Treatmen...
The IRS Large Business and International (LB&I) has added a new active campaign to the IRS website called "IRC 965." The campaign’s goal is to promote compliance with Code Sec. 965, Treatmen...
IRS Highlights Steps For Smooth Processing of Taxpayers' 2019 Federal Tax Returns
The IRS urged taxpayers to act now to ensure the smooth processing of their 2019 federal tax return. This reminder, first in a series, was aimed to help taxpayers get ready for the upcoming tax filing...
The IRS urged taxpayers to act now to ensure the smooth processing of their 2019 federal tax return. This reminder, first in a series, was aimed to help taxpayers get ready for the upcoming tax filing...
AL - Taxpayer’s products qualified for reduced tax rate
An out-of-state coffee and tea brewers and related items (products) manufacturer (taxpayer) was subject to a reduced Alabama sales and use tax rate for the sale of its products to a customer because t...
An out-of-state coffee and tea brewers and related items (products) manufacturer (taxpayer) was subject to a reduced Alabama sales and use tax rate for the sale of its products to a customer because t...
AK - Governor signs tax credits law
Alaska Gov. Mike Dunleavy has signed into law H.B. 232 which creates an air quality improvement tax credit and an energy efficient new construction tax credit that could be adopted by municipalities. ...
Alaska Gov. Mike Dunleavy has signed into law H.B. 232 which creates an air quality improvement tax credit and an energy efficient new construction tax credit that could be adopted by municipalities. ...
AZ - Tax corrections and clarifications enacted
Arizona has enacted income tax corrections and clarifications relating to:return filing thresholds;special exemptions;charitable contributions;unused credits; andobsolete additions and subtractions.Re...
Arizona has enacted income tax corrections and clarifications relating to:return filing thresholds;special exemptions;charitable contributions;unused credits; andobsolete additions and subtractions.Re...
AR - Refund claim properly denied; limitation on other state credit properly imposed
Taxpayers' were properly denied personal income tax refund claim, after an adjustment for another state's taxes, as the taxpayers' failed to demonstrate that the Arkansas Department of Finance Adminis...
Taxpayers' were properly denied personal income tax refund claim, after an adjustment for another state's taxes, as the taxpayers' failed to demonstrate that the Arkansas Department of Finance Adminis...
CA - Statute of limitations barred challenge to special assessments validity
For California property tax purposes, the trial court did not err in determining that the taxpayer’s challenge to the validity of special assessments was barred by the statute of limitations bec...
For California property tax purposes, the trial court did not err in determining that the taxpayer’s challenge to the validity of special assessments was barred by the statute of limitations bec...
CO - Updated guidance on sales and use tax treatment of computer software issued
Colorado issued a guidance discussing sales and use tax treatment of computer software. Generally, computer software is subject to Colorado sales tax if it is prepackaged for repeated sale or license,...
Colorado issued a guidance discussing sales and use tax treatment of computer software. Generally, computer software is subject to Colorado sales tax if it is prepackaged for repeated sale or license,...
CT - Priority one taxpayer assistance program announced
The Connecticut Priority One Taxpayer Assistance Program is available to business and individual taxpayers who may be unable to meet their current collection obligations due to COVID-19. Any taxpayer ...
The Connecticut Priority One Taxpayer Assistance Program is available to business and individual taxpayers who may be unable to meet their current collection obligations due to COVID-19. Any taxpayer ...
DE - FAQs concerning 2019 personal income tax filing due July 15, 2020 issued
The Delaware Department of Revenue (department) released a list of Frequently Asked Questions (FAQs) pertaining to personal income tax filing for the 2019 tax year. The release provides the following ...
The Delaware Department of Revenue (department) released a list of Frequently Asked Questions (FAQs) pertaining to personal income tax filing for the 2019 tax year. The release provides the following ...
DC - Covid-19 emergency nexus guidance issued
The District of Columbia will not seek to impose corporation franchise tax or unincorporated business franchise tax nexus on remote workers during the COVID-19 emergency. Specifically, the District wi...
The District of Columbia will not seek to impose corporation franchise tax or unincorporated business franchise tax nexus on remote workers during the COVID-19 emergency. Specifically, the District wi...
FL - Deployed servicemembers exemption discussed
The Florida Department of Revenue has issued a property tax informational bulletin on the recently enacted legislation updating the designated operations for which deployed servicemembers may qualify ...
The Florida Department of Revenue has issued a property tax informational bulletin on the recently enacted legislation updating the designated operations for which deployed servicemembers may qualify ...
GA - Additional extensions granted due to Covid-19
Georgia has announced additional income tax deadlines have been extended in conformance with the U.S. Treasury Department and Internal Revenue Service (IRS).Estimated PaymentsThe state estimated incom...
Georgia has announced additional income tax deadlines have been extended in conformance with the U.S. Treasury Department and Internal Revenue Service (IRS).Estimated PaymentsThe state estimated incom...
HI - Hawaii provides information on state tax treatment of federal covid-19 relief
Hawaii has released information on its tax treatment of the various forms of relief provided under the federal Coronavirus Aid, Relief, and Economic Security (CARES) Act. The Department of Taxation cl...
Hawaii has released information on its tax treatment of the various forms of relief provided under the federal Coronavirus Aid, Relief, and Economic Security (CARES) Act. The Department of Taxation cl...
ID - Income tax returns due June 15; taxpayers advised to e-file
Idaho has extended the 2019 income tax filing and payment due date to June 15, 2020. For more information regarding, taxpayers may review the Tax Commission website; the website provides informat...
Idaho has extended the 2019 income tax filing and payment due date to June 15, 2020. For more information regarding, taxpayers may review the Tax Commission website; the website provides informat...
IL - Department’s denial of taxpayer’s nonbusiness interest income affirmed as taxpayer failed to substantiate interest income
For Illinois corporate income tax purposes, an out-of-state corporation (taxpayer) that operated in Illinois and had Illinois-source income was properly denied nonbusiness interest deductions because ...
For Illinois corporate income tax purposes, an out-of-state corporation (taxpayer) that operated in Illinois and had Illinois-source income was properly denied nonbusiness interest deductions because ...
IN - Taxpayer substantiated incorrect taxpayer identification number; protest sustained
An Indiana corporation in the business of manufacturing chemicals was entitled to a gross retail tax refund for sales and use tax purposes as the taxpayer provided sufficient documentation explaining ...
An Indiana corporation in the business of manufacturing chemicals was entitled to a gross retail tax refund for sales and use tax purposes as the taxpayer provided sufficient documentation explaining ...
IA - Important upcoming tax deadlines, including extensions, discussed
The Iowa Department of Revenue (department) reminds taxpayers about a number of important upcoming tax deadlines; the department advises taxpayers to meet the deadlines to avoid interest, penalties, o...
The Iowa Department of Revenue (department) reminds taxpayers about a number of important upcoming tax deadlines; the department advises taxpayers to meet the deadlines to avoid interest, penalties, o...
KS - Q3 local rate changes announced
The Kansas DOR announces the local sales and use tax rate changes below for the quarter beginning July 1, 2020.City Rate ChangesCity rate changes and developments are as follows:Burlingame increases i...
The Kansas DOR announces the local sales and use tax rate changes below for the quarter beginning July 1, 2020.City Rate ChangesCity rate changes and developments are as follows:Burlingame increases i...
KY - Information bulletin on local government premium taxes updated
The Kentucky Department of Insurance has updated a bulletin that contains information on local government premium taxes (LGPT) for insurance companies doing business in Kentucky, including the 2020-20...
The Kentucky Department of Insurance has updated a bulletin that contains information on local government premium taxes (LGPT) for insurance companies doing business in Kentucky, including the 2020-20...
LA - Tax returns, payments, and reports filing deadline extended to June 25, 2020
Louisiana has extended the April 25, 2020, severance tax returns, payments, and reports filing deadline to June 25, 2020. The extension does not apply to severance tax returns, payments, or reports du...
Louisiana has extended the April 25, 2020, severance tax returns, payments, and reports filing deadline to June 25, 2020. The extension does not apply to severance tax returns, payments, or reports du...
ME - Taxpayer properly subject to tax evasion charges
A securities broker-dealer agent was properly subject to a Maine personal income tax assessment, including tax evasion charges, because the taxpayer intentionally attempted to defeat or evade the Main...
A securities broker-dealer agent was properly subject to a Maine personal income tax assessment, including tax evasion charges, because the taxpayer intentionally attempted to defeat or evade the Main...
MD - Guidance on covid-19 withholding requirements for teleworking employees updated
The Maryland Comptroller has updated its guidance on income tax withholding requirements for teleworking situations due to the COVID-19 pandemic. The document notes that the Comptroller recognizes the...
The Maryland Comptroller has updated its guidance on income tax withholding requirements for teleworking situations due to the COVID-19 pandemic. The document notes that the Comptroller recognizes the...
MA - Covid-19 withholding sourcing rules for telecommuting employees adopted
Massachusetts adopted sourcing rules for personal income tax withholding from employees who telecommute during the COVID-19, or coronavirus, pandemic.NonresidentsEmployers must source compensation to ...
Massachusetts adopted sourcing rules for personal income tax withholding from employees who telecommute during the COVID-19, or coronavirus, pandemic.NonresidentsEmployers must source compensation to ...
MI - Detroit, Michigan income tax relief expanded
The City of Detroit, Michigan, has expanded its income tax return and payment relief in response to the COVID-19 pandemic. It has extended the deadline to July 15, 2020, for returns and payments due f...
The City of Detroit, Michigan, has expanded its income tax return and payment relief in response to the COVID-19 pandemic. It has extended the deadline to July 15, 2020, for returns and payments due f...
MN - Objection to admissibility of city's appraisal overruled as city established good cause
For Minnesota property tax purposes, a taxpayer’s objection to the admissibility of the city's appraisal, and request to exclude both the appraisal and any expert testimony of the city at trial ...
For Minnesota property tax purposes, a taxpayer’s objection to the admissibility of the city's appraisal, and request to exclude both the appraisal and any expert testimony of the city at trial ...
MS - Notice issued on extended filing deadline
Mississippi is reminding taxpayers that the due date for filing tax returns is extended from April 15, 2020 to May 15, 2020, for:individual income;corporate income and franchise; andfiduciary income.T...
Mississippi is reminding taxpayers that the due date for filing tax returns is extended from April 15, 2020 to May 15, 2020, for:individual income;corporate income and franchise; andfiduciary income.T...
MO - Proposed legislation would exempt federal coronavirus relief payments from tax
Proposed Missouri legislation would exempt federal coronavirus (COVID-19) relief payments from Missouri income taxes. The one-time stimulus payments provided by the federal Coronavirus Aid, Relief and...
Proposed Missouri legislation would exempt federal coronavirus (COVID-19) relief payments from Missouri income taxes. The one-time stimulus payments provided by the federal Coronavirus Aid, Relief and...
MT - Montana cares act amendments affecting nols and other provisions discussed
A number of provisions in the federal CARES Act apply when a taxpayer calculates Montana taxable income, including:Section 2303, which allows a five-year carryback for net operating losses arising in ...
A number of provisions in the federal CARES Act apply when a taxpayer calculates Montana taxable income, including:Section 2303, which allows a five-year carryback for net operating losses arising in ...
NE - Covid-19 estimated tax payment extensions clarified
Nebraska clarified estimated corporate and personal income tax payment extension relief due to the COVID-19, or coronavirus, crisis.First Installment for 2020The first installment of estimated tax due...
Nebraska clarified estimated corporate and personal income tax payment extension relief due to the COVID-19, or coronavirus, crisis.First Installment for 2020The first installment of estimated tax due...
NV - Fair market values at wholesale for marijuana announced
Nevada has announced the fair market values at wholesale for marijuana tax purposes.Fair Market Values for WholesaleFor the period January 1, 2020, through June 30, 2020, the fair market values at who...
Nevada has announced the fair market values at wholesale for marijuana tax purposes.Fair Market Values for WholesaleFor the period January 1, 2020, through June 30, 2020, the fair market values at who...
NH - Education credit annual guidance released
The New Hampshire Department of Revenue Administration has provided annual guidance for the credit for donations to scholarship organizations that may be claimed against the business profits tax and t...
The New Hampshire Department of Revenue Administration has provided annual guidance for the credit for donations to scholarship organizations that may be claimed against the business profits tax and t...
NJ - Taxpayer allowed opportunity to adduce proof to determine reasonableness of assessment
The Tax Court of New Jersey denied the summary judgment motion filed by the Director (director) of the Division of Taxation (division) and allowed a taxpayer the opportunity to adduce proof as to what...
The Tax Court of New Jersey denied the summary judgment motion filed by the Director (director) of the Division of Taxation (division) and allowed a taxpayer the opportunity to adduce proof as to what...
NM - Assessment upheld for failure to overcome presumption of correctness
A New Mexico administrative hearings officer upheld the Department of Taxation and Revenue’s (department) International Fuel Tax Agreement (IFTA) tax assessment because the taxpayer failed to pr...
A New Mexico administrative hearings officer upheld the Department of Taxation and Revenue’s (department) International Fuel Tax Agreement (IFTA) tax assessment because the taxpayer failed to pr...
NY - School district’s resolution to opt-out of tax exemption ineffective for failure to comply with filing requirements
The New York Supreme Court, Appellate Division affirmed the Supreme Court’s decision that the taxpayer’s solar energy system was entitled to a property tax exemption because the school dis...
The New York Supreme Court, Appellate Division affirmed the Supreme Court’s decision that the taxpayer’s solar energy system was entitled to a property tax exemption because the school dis...
NC - North Carolina coronavirus legislation waives interest, extends certain deadlines
North Carolina enacted legislation in response to the coronavirus, or COVID-19, disease that:waives interest for the underpayment of corporation income, corporation franchise, and personal income taxe...
North Carolina enacted legislation in response to the coronavirus, or COVID-19, disease that:waives interest for the underpayment of corporation income, corporation franchise, and personal income taxe...
ND - Effect of covid-19 telecommuting on nexus, payroll factor discussed
North Dakota has addressed some questions related to taxpayers whose employees are present in the state in a temporary telecommuting capacity because of the coronavirus outbreak. If the telecommuting ...
North Dakota has addressed some questions related to taxpayers whose employees are present in the state in a temporary telecommuting capacity because of the coronavirus outbreak. If the telecommuting ...
OH - Taxpayers properly subject to individual income tax penalties
A married couple, who lived in Ohio until 2013, was properly subject to penalties for failure to file Ohio personal income tax returns and failure to remit taxes owed. Taxpayers were assessed income t...
A married couple, who lived in Ohio until 2013, was properly subject to penalties for failure to file Ohio personal income tax returns and failure to remit taxes owed. Taxpayers were assessed income t...
OK - Q3 local rate changes announced
Oklahoma local sales and use tax rate changes have been announced effective July 1, 2020.City Rate ChangeHydro increases its rate from 4% to 4.5%.County Rate ChangeChoctaw County decreases its rate fr...
Oklahoma local sales and use tax rate changes have been announced effective July 1, 2020.City Rate ChangeHydro increases its rate from 4% to 4.5%.County Rate ChangeChoctaw County decreases its rate fr...
OR - Taxpayers' ranching activity determined as “for profit”; reasonability of taxpayer’s hope for profit immaterial
Taxpayers were erroneously denied ranching activity related business expenses as the activity at issue was a trade or business for which they were entitled to deduct expenses for Oregon personal incom...
Taxpayers were erroneously denied ranching activity related business expenses as the activity at issue was a trade or business for which they were entitled to deduct expenses for Oregon personal incom...
PA - Philadelphia, Pennsylvania updates nexus and apportionment policies due to covid-19
Philadelphia is temporarily updating its nexus and apportionment policies applicable to the business income and receipts tax (BIRT) and net profits tax (NPT) during the COVID-19 pandemic.NexusPhiladel...
Philadelphia is temporarily updating its nexus and apportionment policies applicable to the business income and receipts tax (BIRT) and net profits tax (NPT) during the COVID-19 pandemic.NexusPhiladel...
RI - Division issues refund update
The Rhode Island Division of Taxation has issued an update on personal income tax refunds amid the coronavirus pandemic. The Division will continue to issue state tax refunds on schedule, despite the ...
The Rhode Island Division of Taxation has issued an update on personal income tax refunds amid the coronavirus pandemic. The Division will continue to issue state tax refunds on schedule, despite the ...
SC - Coronavirus filing and payment relief expanded
In response to expanded tax relief provided by the Internal Revenue Service, South Carolina is providing additional tax filing and payment relief as a result of the COVID-19 pandemic. Tax relief to Ju...
In response to expanded tax relief provided by the Internal Revenue Service, South Carolina is providing additional tax filing and payment relief as a result of the COVID-19 pandemic. Tax relief to Ju...
SD - Assessment freeze program discussed
For South Dakota property tax purposes, the Department of Revenue reminds disabled and elderly taxpayers that they have until April 1, 2020, to apply for relief under the state’s assessment free...
For South Dakota property tax purposes, the Department of Revenue reminds disabled and elderly taxpayers that they have until April 1, 2020, to apply for relief under the state’s assessment free...
TN - Tennessee marketplace facilitator legislation enacted
Tennessee has enacted marketplace facilitator legislation, for sales and use tax purposes, effective October 1, 2020.Marketplace FacilitatorsA marketplace facilitator that collects and remits sales or...
Tennessee has enacted marketplace facilitator legislation, for sales and use tax purposes, effective October 1, 2020.Marketplace FacilitatorsA marketplace facilitator that collects and remits sales or...
TX - Gains from sales of oil, gas leasehold interests subject to franchise tax
A taxpayer engaged in oil and gas exploration, development, and production, erroneously requested refunds by excluding estimated taxable gain from the sale of oil and gas leasehold interests from its ...
A taxpayer engaged in oil and gas exploration, development, and production, erroneously requested refunds by excluding estimated taxable gain from the sale of oil and gas leasehold interests from its ...
UT - Credit enacted for donations to special needs opportunity scholarship program
Utah has enacted a corporate and personal income tax credit for donations to the Special Needs Opportunity Scholarship Program. Under the program, a parent may apply to a scholarship granting organiza...
Utah has enacted a corporate and personal income tax credit for donations to the Special Needs Opportunity Scholarship Program. Under the program, a parent may apply to a scholarship granting organiza...
VT - Grand list lodging instructions for municipalities updated
The Vermont Department of Taxes has updated its publication providing instructions to municipality property tax listers for preparing the grand list lodging. Municipalities must maintain, update, and ...
The Vermont Department of Taxes has updated its publication providing instructions to municipality property tax listers for preparing the grand list lodging. Municipalities must maintain, update, and ...
VA - Taxpayer had established domicile in another state before reestablishing her Virginia domiciliary
An individual protest seeking correction of the personal income tax assessments was sustained as the individual was erroneously assessed as Virginia domiciliary for the tax years at issue. In this mat...
An individual protest seeking correction of the personal income tax assessments was sustained as the individual was erroneously assessed as Virginia domiciliary for the tax years at issue. In this mat...
WA - Local rate changes and municipal annexations announced
Certain Washington counties and cities will impose local sales and use tax rate changes effective July 1, 2020.Local Rate ChangesSan Juan County increases its local rate by 0.2%. The rate in Friday Ha...
Certain Washington counties and cities will impose local sales and use tax rate changes effective July 1, 2020.Local Rate ChangesSan Juan County increases its local rate by 0.2%. The rate in Friday Ha...
WV - Credit for donations or sales of passenger vehicles enacted
West Virginia enacted a corporation and personal income credit for:taxpayers who donate passenger vehicles to charitable organizations in West Virginia;new or used motor vehicle dealers who sell passe...
West Virginia enacted a corporation and personal income credit for:taxpayers who donate passenger vehicles to charitable organizations in West Virginia;new or used motor vehicle dealers who sell passe...
WI - DOR bulletin issued
The Wisconsin Department of Revenue has issued Wisconsin Tax Bulletin Number 209 (April 2020). The Bulletin includes:New Health Emergency LawNew Income and Franchise Tax LawsNew Sales and Use Tax LawG...
The Wisconsin Department of Revenue has issued Wisconsin Tax Bulletin Number 209 (April 2020). The Bulletin includes:New Health Emergency LawNew Income and Franchise Tax LawsNew Sales and Use Tax LawG...
WY - Solar panel erroneously subject to property tax as appurtenances; containers not skid-mounted
A taxpayer's solar panels and shipping container were erroneously subject to Wyoming property tax as "real property". Generally, under Wyoming law, land and appurtenances, including structures af...
A taxpayer's solar panels and shipping container were erroneously subject to Wyoming property tax as "real property". Generally, under Wyoming law, land and appurtenances, including structures af...
Thomas Craig & Company, LLP is one of the most enterprising CPA firms in the Greater Tampa Bay Area.
Since 1924 our clients have considered us more than accountants. To them, we are consultants and strategists, deeply involved in their business and dedicated to there successes. Our approach is to initiate recommendations that we believe can help a business grow and succeed. If we see a problem, or think there is a way to improve, we will tell our clients - before they ask.
The majority of our clients are closely held businesses from a wide range of industries. They share a common goal of seeking success through innovative ideas and approaches. Our philosophy is to challenge yesterday's way of doing things, be creative in our approach, entrepreneurial in our style.
Please feel free to contact us with any questions or comments you may have - we would love to hear from you. We pride ourselves on being proactive and responsive to our clients' inquiries and suggestions.
