< Return to List

Articles

How to Reap Rewards From the New Tax Law
To borrow an old proverb from the farming community, it’s time for tax practitioners to “make hay while the sun shines.” What’s responsible for the favorable climate? The answer: the Tax Cuts and Jobs Act (TCJA). This monumental new tax...
DRS: Pass-Through Entity Tax Estimated Payment Recharacterization Form Released
As a follow-up to prior DRS guidance and Special Notice 2018(4), Guidance on 2018 Estimated Payments for the Newly Enacted Pass-Through Entity Tax , taxpayers should note that forms for pass-through entity tax estimated payment recharacterization...
Will Congress Restrict States’ Right to Tax Remote Sales?
Some members of Congress think they should limit the way states can tax sales by sellers with no physical presence in the state. To that end, Wisconsin Representative Jim Sensenbrenner has introduced the Online Sales Simplicity and Small...
IRS to propose regs on market discount for bonds
The Internal Revenue Service and the Treasury Department said Friday that, in response to taxpayer requests for guidance, they will issue proposed regulations clarifying that the market discount on a bond is not includible in income under Section...
IRS alerts taxpayers: Scammers scheming around Oct. 15 deadline; Here’s what to do
The Internal Revenue Service is reminding taxpayers to beware of criminals who continue using devious tactics to steal money and personal information from unsuspecting victims, especially as the fall season approaches.
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...