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Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of May 13 – May 17, 2019. May 13, 2019: The IRS released a statement regarding the National Taxpayer Advocate position announcing it as seeking candidates from the tax community to fill the vacancy. May 13, 2019: The IRS released two draft forms. Form 8027 for employer tip reporting under Section 6053 and Form 8922 for…
Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of April 29 – May 3, 2019. April 29, 2019: The IRS issued a news release urging taxpayers who had not yet filed their tax returns to file now in order to minimize applicable penalties and interest. April 30, 2019: The IRS issued a news release announcing the appointment of Monte A. Jackel to the position…
Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of April 22–26, 2019. April 22, 2019: In an effort to reduce paperwork and respondent burden the IRS requested public comments on forms, reporting and recordkeeping requirements under numerous code provisions. April 24, 2019: The IRS issued corrections to T.D. 9851 providing guidance on the income test used to determine whether a corporation may qualify as…
Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of December 24 – 28, 2018: December 28, 2018: The IRS released final regulations concerning the public approval requirement under section 147(f) of the Code for tax-exempt private activity bonds issued by state and local governments. December 28, 2018: The IRS released proposed regulations addressing when tax-exempt bonds are treated as retired for purposes of sections…
Wrapping Up September – and Looking Forward to October Top September Posts You Might Have Missed IRS Proposes to Withdraw Debt-Equity Documentation Regulations LB&I Announces Five New Campaigns A Lot Is Going on at the Tax Court Upcoming Tax Controversy Activities in October Our lawyers will present on key tax topics during the month of October. We hope to see you. October 29-30, 2018: Thomas Jones and Kristen Hazel will be presenting on various captive…
A Grain of SALT: September State Focus – New Hampshire With the road paved in the US Supreme Court’s now famous South Dakota v. Wayfair Inc. decision, many states have begun releasing remote-seller sales tax collection guidance. Interestingly, the state of New Hampshire has joined the fray as well even though it does not impose a state sales tax. New Hampshire’s efforts are specifically directed at preventing out-of-state taxing authorities from imposing remote-seller sales tax…
Wrapping Up July – and Looking Forward to August Top July Posts You Might Have Missed IRS Releases Practice Unit on Examining Transaction Costs Recent Developments in US Federal Income Tax Litigation LB&I Announces Six New Campaigns Upcoming Tax Controversy Activities in August Our lawyers will present on key tax topics during the month of August. We hope to see you. August 7, 2018: Thomas Jones is presenting on Captive Insurance Tax Issues at the…
Top June Hits You May Have Missed BREAKING NEWS: US Supreme Court Overrules Quill Illinois Budget Bill Makes Few Tax Changes except the Adoption of an Economic Nexus Standard Circuit Court of Cook County Upholds City of Chicago’s Imposition of Amusement Tax on Internet-Based Streaming Services Looking Forward to July July 16, 2018: Alysse McLoughlin is presenting “Federal Tax Changes & Implications to States” at the Southeastern Association of Tax Administrators Conference in Nashville, TN.…
Wrapping Up May – and Looking Forward to June Top May Posts You Might Have Missed LB&I Announces Six New Campaigns SOL and the 1603 Cash Grant – File Now or Forever Hold Your Peace IRS Implementation of Tax Reform Continues to Move Forward Upcoming Tax Controversy Activities in June Our lawyers will present on key tax topics during the month of June. We hope to see you. June 21, 2018: Britt Haxton, Kristen Hazel,…
A Grain of SALT: May State Focus – Georgia Georgia was one of the first states to enact comprehensive legislation in response to the federal tax reform bill, known as the Tax Cuts and Jobs Act (TCJA).  As a preliminary matter, the Georgia bill provides conformity to the IRC as of February 9, 2018, with certain exceptions.  Before the bill’s enactment, the Georgia Code had conformed to the IRC as of January 1, 2017, and,…