New International Tax Forms for 2018: GILTI and FDII
International taxpayers will spend additional time on tax compliance with new forms for GILTI and FDII in 2018. Draft forms to meet filing requirements under…
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Utah Does Not Subject Medical Marijuana to Sales Tax
Utah voters voted yes to legalize the medical use of marijuana in the election on November 6, 2018. Under Proposition 2, medical marijuana would be…
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Oregon Provides IRC Sec. 965 Guidance
Oregon has issued guidance regarding inclusion of accumulated deferred foreign income under IRC Sec. 965 in the sales factor. Oregon will exclude the amounts from…
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Oklahoma Potawatomi Nation Alcohol Sales Permitted, Subjected to Sales Tax
A compact between Oklahoma and the Citizen Potawatomi Nation (CPN) allows CPN alcohol sales and requires sales tax collection on the sales. The compact took…
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New Mexico Offers Tax Amnesty Program
Individual taxpayers and small businesses may qualify for forgiveness of penalties and interest on overdue taxes with New Mexico’s Fresh Start Program. Taxpayers must enroll…
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California Provides Certain Employers Income Tax Amnesty for Wildfires
For corporate and personal income tax purposes, the California Employment Development Department (EDD) is extending deadlines for employers in: – Butte County directly affected by…
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Car Manufacturer Denied Refund; Global Interest Netting Not Allowed (Ford Motor Company, CA-FC)
The Court of Appeals for the Federal Circuit has held that a car manufacturer and its wholly owned foreign sales corporation (FSC) were not the…
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Leverage Your Firm’s Expertise
While nothing has changed with the underlying premise of the power of knowledge, the sources of much of our knowledge and learning have changed significantly.…
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IRS Proposes Updates to Hardship Distribution Regulations (NPRM REG-107813-18)
The IRS is proposing to amend hardship distribution regulations to reflect changes in the law. In particular, the proposed regulations would reflect changes in the…
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Weekly Report from Washington, D.C.
During the week of November 5, President Donald Trump and House Ways and Means Committee Chairman Kevin Brady, R-Tex., issued a joint statement in connection…
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