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Will Wayfair unleash state-by-state chaos?
The fallout from Wayfair continues – and the most recent development highlights the potential for the Supreme Court decision to unleash a patchwork of burdensome and confusing state sales tax rules. The Colorado Department of Revenue announced...
Why California is a Sleeping Sales Tax Giant
California, the state with the fifth largest economy in the world, doesn’t yet require many out-of-state sellers to collect and remit tax on their California sales, but that may soon change.
IRS issues proposed regulations on global intangible low-taxed income for U.S. shareholders
The Internal Revenue Service issued proposed regulations today concerning global intangible low-taxed income under section 951A and related sections of the Internal Revenue Code.
CT ramps up efforts to collect online sales tax revenues
Back in June, a Supreme Court decision overturned a long-held standard that no state can collect sales taxes from e-commerce businesses that lack a physical presence, or "nexus," within its borders. That was a week after Gov. Dannel P. Malloy...
Wall Street warns new federal tax rules could boost CT’s borrowing costs
The new federal cap on income tax deductions could translate into higher interest costs for Connecticut and other wealthy states when they borrow for school construction and other capital projects, a Wall Street credit rating agency warned...
AICPA recommends priorities for IRS tax guidance
On June 14, the AICPA submitted a letter to the IRS recommending priorities for guidance the Service should issue under the 2018-2019 IRS Priority Guidance Plan. In late April, the IRS in Notice 2018-43 asked the public to comment on items of tax...
Accounting Today: Connecticut issues guidance on pass-through tax credit
The Connecticut Department of Revenue Services released guidance this week on the recently enacted Pass-Through Entity Tax Credit, which state lawmakers approved this spring as a way to get around limits in the new federal tax law on state and...
John Ermer of Beers, Hamerman, Cohen & Burger Quoted in Bloomberg Article "New York, Connecticut Taxpayers Have Plan B Options to Beat SALT"
Taxpayers in New York and Connecticut still have a few potential options to avoid the hit from a new cap on state and local tax deductions, while residents of other high-tax jurisdictions may only have creative estate planning as a last resort.
New form may simplify tax compliance for seniors
According to Adam Smith's Canons of Taxation, the tax compliance function in any society needs to be convenient. This has not always been the case for many seniors in the United States. Form 1040EZ, Income Tax Return for Single and Joint Filers...
Why the NJ Sales Tax Move is Important
The Supreme Court decision in South Dakota v. Wayfair, Inc. has inspired numerous states to adopt new sales and use tax policies in order to increase remote sales tax collection, New Jersey has joined those growing ranks. As of October 1,...

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  Connecticut CPA magazine feature
The IRS Disqualified Employment Tax Levy:
Just When the Client Thought It Was Safe to Owe Money Again …

By Lauren M. McNair, Esq. and Eric L. Green, Esq., Green & Sklarz LLC

Your client calls frantic one morning just as you are sitting down to your desk. “Joe, what’s up?” you ask genially as you reach for your coffee.

“The IRS just cleaned out my bank account!” yells Joe.

“What do you mean? We worked out a payment plan a year ago at our Collection Due Process hearing with the settlement officer. I thought you paid that off.”