Category: Tax Code, Regulations and Guidance

November 24, 2020

This year in the U.S., we’ve seen truly historic levels of charitable giving in support of communities impacted by the pandemic, social unrest and natural disasters. Still, new research from the Lilly Family School of Philanthropy at Indiana University and […]

November 20, 2020

Only a few states have issued guidance on the sales tax treatment of digital currency transactions. On November 2, 2020, Kansas joined this group, with Notice 20-04, Sales Tax Requirements Concerning Digital Currency Under the Retailers’ Sales and Compensating Tax […]

November 19, 2020

Throughout the years, legislators have written numerous lines into the tax code to soften the blow of the extra costs that self-employed persons must shoulder as they do business. The Tax Cuts and Jobs Act (TCJA), passed in December 2017 […]

November 19, 2020

An expatriation tax is a government fee charged to individuals who renounce their citizenship, usually based on the value of a taxpayer’s property. In the United States, the expatriation tax provisions under Section 877 and Section 877A of the Internal […]

November 16, 2020

In October 2020, the IRS issued two pieces of guidance addressing (1) the tax withholding and reporting of distributions from qualified retirement plans to state unclaimed property funds, and (2) the ability of taxpayers to roll over funds that were […]

November 11, 2020

While the results are yet to be certified, it is clear, a week after Election Day, that Californians have rejected both Proposition 15 – The California Schools and Local Communities Act of 2020 (“Prop. 15”)[1] and Proposition 21 – Rental […]

November 9, 2020

San Francisco voters approved a tax on businesses that pay their chief executive officer (CEO) or “highest-paid managerial employee” well above the median salary for the rest of their employees. The amount due will depend on how much more the […]

November 2, 2020

This is a reminder to all businesses registered in Alabama for sales, rental, sellers use, lodgings, utility gross receipts, or simplified sellers use tax purposes and who are required under current law to obtain a corresponding license from the Alabama […]

October 23, 2020

Form 944 is an IRS form that very small businesses use to file their employer taxes on an annual basis. It is specifically for businesses that have at least one employee and owe less than $1,000 annually in federal taxes […]

October 22, 2020

Though both go hand in hand to help high-net-worth individuals (HNWIs), and others, legally decrease their income tax burdens, there is an important difference between tax havens and tax shelters. Tax havens are locations around the globe known for having […]