Using a Third-Party to Audit Unclaimed Property? Take Note…
States that use third-parties to audit unclaimed property liability may want to take note of Univer v. Geisenberger, et al., (C.A. No. 18-1909 (MN), Sep. 17,…
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Uncashed Retirement Checks
The IRS ruled that a retiree is taxed in the year of receipt of an uncashed distribution check and employers need not change reporting or…
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Florida’s Automatic Rate Reduction Triggers Refund Opportunities
Florida law provides automatic corporate income tax rate reductions and refunds based on collections for the tax. The Florida Department of Revenue recently announced a…
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AICPA Urges IRS to Provide “Tax Reform Administrative Relief” Under Final Transition Tax Rules
The American Institute of CPAs (AICPA) has urged the IRS to reconsider providing “tax reform administrative relief” under final IRC Sec. 965 transition tax rules. Under…
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New Hampshire Adjusts Rates, Possibly Adopts Singles Sales Factor Apportionment
New Hampshire enacted legislation: changing the rates of the business profits and the business enterprise taxes; andpossibly adopting singles sales factor apportionment for the business…
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IRS Whistleblowers Have New Remedies for Employer Retaliation
Some IRS whistleblowers have significant new administrative and legal remedies against employer retaliation. Employee whistleblowers can now: File retaliation complaints with the Department of Labor,…
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Taxpayers Seek High Court Review in Maryland “Enterprise Dependency” Nexus Case
Taxpayers have asked the U.S. Supreme Court to review if Maryland can base corporate income tax nexus on “enterprise dependency.” Taxpayers’ Business The taxpayers (Staples,…
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Form 1099-B Expands Reporting Requirements to Qualified Opportunity Funds
For 2019, many operators of qualified opportunity funds (QOFs) will have to report the disposition of an investor’s interest in a QOF on Form 1099-B,…
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New Hampshire Enacts Market-Based Sourcing
New Hampshire enacted market-based sourcing for sales of intangible property for the business profits and business enterprise taxes. The changes take effect January 1, 2021…
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IRS Allows Late Bonus Depreciation Elections for Tax Years Including September 28, 2017
The IRS is letting taxpayers make a late election out of 100% bonus depreciation, or revoke a previous election out, for tax years that include…
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