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Taxpayers should be aware that the Pennsylvania Department of Revenue has been asserting penalties for failing to participate in the amnesty program that concluded on June 18, 2010 by posting the asserted penalties on the taxpayer’s corporate tax ledger, but without sending formal Notices of Assessment to taxpayers in many situations. These non-participation penalties have been asserted in situations in which no liability was outstanding as of the conclusion of the amnesty period and Notices of

President Obama rolled out an ambitious new tax platform in his State of the Union address on Jan. 20.

On May 10, 2016, the United States Treasury Department issued proposed regulations that would require information reporting by certain foreign-owned single member U.S. limited liability companies ("LLCs") and grantor trusts.

The Massachusetts Department of Revenue will hold its public hearing to discuss the proposed market-based sourcing regulation on December 4, 2014.

In the complex and evolving world of state and local taxation, it is vitally important for the owners of pass-through entities to continually monitor changes in the law.

Unexpected relief may be coming for companies that are owed millions in unpaid incentive grants from New Jersey.

Governor Snyder signed a Public Act into law at the end of 2017 permitting a taxpayer and the Michigan Department of Treasury to engage in a settlement process during administrative appeals of Michigan sales tax ...

The Appeals employee would assist in settling the matter between the IRS and the taxpayer.

The tax code includes a number of provisions that benefit small businesses and small business owners. One of these provisions is contained in Section 1202 which provides for an exclusion of up to 100%

The House and Senate are expected to begin negotiating a final compromise on the extenders after the August recess.

Forms 1099K have been filed by credit card processors since 2011 to report all transactions on their system.

Had enough of the politics and drama of the presidential election? Don't tune out yet. Grant Thornton LLP has its own spin on he said, she said...

On December 2, the Senate passed its version of the Tax Cuts and Jobs Act. The House of Representatives earlier approved a competing version of the Act on November 16.

The top two congressional tax writers met last week to discuss how to tackle the priorities competing for their attention in 2016.

What do these proposed tax changes mean for CFOs? For CFOs of large multinational corporations with a C corporation parent in the United States, the changes mean that (a) more cash can be distributed...

Article from Waller Law.