Trends in Sales and Use Tax for Remote Sellers
Click-through or affiliate nexus legislation has become a popular way for states to require certain remote sellers (i.e., internet vendors) to collect sales or use tax on their sales to in-state residents.
Published on September 29, 2014
Accounting Trends & Techniques Products
A description of publications available in the Accounting Trends & Techniques series
Published on July 18, 2014
General Guidance for Accountants and Auditors
A description of publications available on general corporations.
Published on September 30, 2014
Recent Trends and Developments in Sales and Use Taxation
Business taxpayers can expect their indirect tax expenses, from both tax outlay and cost of compliance standpoints, to increase over the next year as the state fiscal environment remains bleak.
Published on May 03, 2010
Split Widens as Courts Hold Basis Overstatement Is Not Income Omission
The ongoing controversy over whether a taxpayer’s overstatement of basis triggers a six-year statute of limitation period continues as the Fourth Circuit and Fifth Circuit both held within days of each other that the extended period does not apply. These decisions are at odds with a Seventh Circuit opinion issued
Published on June 16, 2011
Estate Not Entitled to Second Extension of Time to File Return
The First Circuit held that the regulations under Sec. 6081, which allow an executor of an estate only one six-month extension of time to file an estate tax return, were a reasonable interpretation of the statute.
Published on September 30, 2011
IRS Gives Limited Guidance on Economic Substance
The IRS has provided indications of its plans regarding the codified economic substance doctrine and the enhanced penalty for transactions lacking economic substance in formal guidance to taxpayers and its examiners, as well as in informal statements made by IRS representatives.
Published on December 01, 2010
EGTRRA and JGTRRA Tax Rates Extended for Two Years in Lame Duck Session
The Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 has provisions from four of the five tax areas that were considered to be important for Congress to address during its “lame duck” session: the estate tax, expiring tax cuts, expired tax provisions, and the alternative minimum tax (AMT).
Published on February 03, 2011
Cooperative Owner Cannot Deduct Cooperatives Casualty Loss
A shareholder in a cooperative housing corporation was not allowed to deduct as a casualty loss an assessment levied against her by the cooperative to pay for damages caused by the collapse of a retaining wall on its property.
Published on July 20, 2011
Day-Trading Losses Are Dissipation of Assets
The Tax Court held that a taxpayer’s losses from a period of day-trading activity constituted a dissipation of assets that the IRS could take into account in determining whether to accept the taxpayer’s offer in compromise.
Published on July 20, 2011