Mondaq USA: Tax
McNair Law Firm, P.A
Qualified Opportunity Zones were included as part of the Tax Cuts and Jobs Act which became law in December 2017.
Ropes & Gray LLP
On June 21, 2018, the Supreme Court ruled in Wayfair that the State of South Dakota may constitutionally require large online retailers without actual physical presence in the state to collect and remit sales tax.
Dentons
Yesterday, the Large Business and International Division ("LB&I") of the IRS announced five new compliance campaigns. This is on top of the 35 previously announced campaigns and discussed here.
Haynsworth Sinkler Boyd P.A.
A federal tax lien attaches to all real and personal property of a taxpayer at the time an assessment is made by the Internal Revenue Service and continues until the liability is paid or becomes unenforceable...
Day Pitney LLP
In a recently issued Private Letter Ruling (PLR 201825003), the IRS held that a donor's gift of works of art, in which the donor retained a life interest via a usufruct to two museums...
Ropes & Gray LLP
In this Ropes & Gray podcast, Brittany Cvetanovich, an associate in the tax group, is joined by Kat Gregor, tax partner and co-founder of the tax controversy group, to discuss a notable Supreme Court decision, South Dakota v. Wayfair.
Butler Snow LLP
Living abroad can be a wonderful opportunity for many U.S. Persons[1], but a few commonly misunderstood aspects of the U.S. tax system directly impact such "expats," ...
Ropes & Gray LLP
The enactment of tax reform last December provided investors increased certainty regarding corporate tax rates for the near future.
Proskauer Rose LLP
A number of states have recently proposed or passed new laws related to state-level taxation, some of which are taxpayer-friendly and some of which are expected to impose additional tax burdens on taxpayers.
Bowditch & Dewey
On June 21, the U.S. Supreme Court upended the online retail industry, giving states the power to force online retailers to collect sales tax from sales to consumers.
Davis & Gilbert
The Supreme Court recently issued a 5-4 ruling in South Dakota v. Wayfair, overturning a 1992 Supreme Court decision in Quill v. North Dakota, that will now allow states to collect tax on internet sales...
Dentons
As we noted previously, the IRS announced in March that it will end its Offshore Voluntary Disclosure Program (OVDP) on September 28, 2018. Under OVDP, a taxpayer with undisclosed foreign assets or income...
Cooley LLP
As we previously reported, on June 21, the Supreme Court overturned the longstanding rule that a state was prohibited from requiring a remote seller to collect sales tax where the seller...
Davies Ward Phillips & Vineberg
The U.S. Supreme Court has released a much-anticipated decision in South Dakota v Wayfair, Inc., which overturned the Court's decades-old limitation on states' power to assert sales tax jurisdiction ...
Fenwick & West LLP
U.S. taxation of intellectual property has become astoundingly more complex after the Tax Cuts and Jobs Act. The new rules are so complex that the IRS and Treasury are still figuring out...
BakerHostetler
On June 21, 2018, the Supreme Court handed down a decision that eliminated a foundational concept in e-commerce.
Duff and Phelps
It never really seemed to make much sense, did it? From its infancy as a start-up bookseller called Amazon.com to its current stature as a multi-conglomerate retail revolution, online shopping...
Holland & Knight
New York, New Jersey and Connecticut, as well as other high income tax states, are more likely than not going to see a migration of highly taxed individuals out of their states due to the federal changes...
Mayer Brown
The deduction for interest has been under some pressure lately. In particular, the Tax Cuts and Jobs Act (P.L. 115-97) recently amended Section 163(j) of the Internal Revenue Code of 1986 ...
Holland & Knight
Bloomberg Tax sponsored a program titled, "New Era of Material Wealth Creation with ESOPs" which explored the 2017 Tax Act and its impact on ESOPs, alternative structures for ESOP...
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Kramer Levin Naftalis & Frankel LLP
President Trump signed sweeping tax legislation into law on Dec. 22, 2017, resulting in several significant changes to the wealth transfer tax system, effective as of Jan. 1, 2018.
Reed Smith
The Pennsylvania Department of Revenue's Board of Appeals has issued about 45 orders remanding refund claims to the Bureau of Audits.
Carlton Fields
Now more than ever, companies must carefully consider the tax treatment of these payments when negotiating False Claims Act settlements with the DOJ.
BakerHostetler
The Court explicitly rejected the requirement that a remote seller must have a physical presence in a state before that state or its localities could require sales tax collection.
WilmerHale
On June 21, 2018, the US Supreme Court issued its decision in South Dakota v. Wayfair, Inc., overruling the Quill physical presence nexus test for collection of sales and use taxes by remote vendors.
Withers LLP
The US Supreme Court has overruled the longstanding rule that interstate sellers do not need to collect and remit state sales tax unless they have a physical presence in a state.
Dickinson Wright PLLC
Many applicable large employers received an unpleasant surprise earlier this year when they received Letter 226-J, which imposed an employer shared responsibility payment (ESRP) ...
Ruchelman PLLC
In IR-2018-131, issued on June 4, 2018, the I.R.S. announced that it will waive certain late-payment penalties relating to the Code §965 transition tax ...
Ostrow Reisin Berk & Abrams
With the 2018 federal estate tax exemption being raised from $5.6 million to $11.2 million, some are wondering if making lifetime gifts ...
Ruchelman PLLC
The New York Times reported recently that the National Basketball Association ("NBA") and Major League Baseball ("MLB") are reaching out to both Congress and the Trump administration to learn more...
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