Everything Needed by the Insurance Claims Professional from Barry Zalma
Crooked Docs Ordered to Pay Restitution to Insurers and Medicare
Nonprofit Radio: Equitable Compensation
I’ll be on on Nonprofit Radio this Friday, February 21, at 10:30 am PT / 1:30 pm ET talking with host Tony Martignetti about charity compensation and pay equity. You can listen live on Talking Alternative. The archived podcast will be available a few days after the show airs.
Corporate and tax attorneys who provide “nonprofit law” counsel to charitable organizations often cover compensation issues from the perspective of not violating any private benefit or excess benefit transaction…
South Dakota House of Representatives’ Taxation Committee Strikes Advertising Tax Provision from HB 1284
During a hearing held on February 20, 2020, the South Dakota House of Representatives’ Taxation Committee approved an amendment to House Bill 1284, striking the proposed elimination of the sales tax exemption for advertising services. The bill’s sponsor, Representative Finck (Republican), introduced the amendment himself. He clarified that he did not intend to tax all advertising services. Rather, he thinks that there are certain services being misconstrued as “advertising” that should be subject to…
H-1B Visa FBAR & Who Has to File (IRS Summary 2020)
Florida Bill to Tax Car Sharing Moves Forward
Florida’s proposed tax on peer-to-peer car sharing companies, H.B. 377, cleared its first hurdle and passed the state House Ways and Means Committee on February 11. The bill would require car-sharing companies to collect a 6% sales tax on vehicle leases made through their platforms. Also, under the proposed bill, leases made through the company platforms will be subject to a $2 surcharge.…
Colorado DOR Proposes Regs to Clarify Treatment of Digital Goods
The Colorado DOR proposed a regulation on February 7 intended to “clarify” the tax treatment of digital goods as tangible personal property. The proposed regulations include measures that clarify that the method of delivery does not impact the taxability of the property and that the purchase of certain streaming service subscriptions constitutes a sale of property.…
Missouri Proposes Post-Wayfair Legislation
Missouri lawmakers have proposed H.B. 1957, which would require vendors engaging in business activities in Missouri with gross receipts from in-state sales of tangible personal property totaling $100,000 or more during a 12-month period to collect and remit use tax. The bill would also require marketplace facilitators that reach the economic nexus threshold by January 1, 2021 to collect and remit sales and use tax on behalf of third party sellers. A similar measure,…
Cayman Islands added to the EU blacklist of non-cooperative jurisdictions for tax purposes
On 18 February 2020, the ECOFIN committee of finance ministers of the EU resolved to add the Cayman Islands to the EU blacklist of non-cooperative jurisdictions for tax purposes. Their reasoning was short:
“[The] Cayman Islands does not have appropriate measures in place relating to economic substance in the area of collective investment vehicles.”
This is despite Cayman having passed a new statute – the Private Funds Law and The Mutual Funds (Amendment) Law –…
Prepare Your Not-for-Profit for a Financial Audit
An outside financial audit may seem like an extravagance to not-for-profits working to contain costs and focus on their mission. But undergoing regular audits allows your organization to identify risks early and act quickly to prevent problems.
Independent audits also provide valuable reassurance to donors. Fortunately, you can reduce the cost of external audits with good preparation.…