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The Federal Deposit Insurance Corporation issued Financial Institution Letter-30-2014 to notify banks of the adoption of the addendum and its applicability.

Section 501(r) was added to the Internal Revenue Code by the Patient Protection and Affordable Care Act, enacted March 23, 2010 and imposes additional requirements on charitable hospital organizations.

The Middle Class Tax Relief and Jobs Creation Act of 2012, passed by Congress and signed into law by President Obama in February 2012, gave the Federal Communications Commission (FCC) the authority to conduct auctions of spectrum currently assigned to television broadcasters for future wireless broadband uses.

On February 26, the Chairman of the House Ways and Means Committee announced the release of a Tax Reform "discussion draft."

As we roll into the new year, this edition of the Manufacturing Industry Advisor takes a look at some of the key regulatory issues that manufacturers will be facing in 2015.

Republicans on the Ways and Means Committee emerged from a two-day retreat pledging to work with the administration on developing a unified tax plan based on the blueprint released by...

On September 28, 2006, the California Franchise Tax Board (“FTB”) issued Notice 2006-3 (“Notice”) regarding the effect of the recent decision by the California Supreme Court in Microsoft Corp. v. FTB on Notice 2004-5.

The Eighth Circuit Court of Appeals upheld a Tax Court decision sustaining deficiencies and penalties against taxpayers who sought to use their self-directed IRA plans to fund a business venture.

The Maryland Tax Court recently issued its decision in ConAgra Brands Inc. v. Comptroller of the Treasury, 09-IN-OO-0150 (Md. Tax Ct., Feb. 24, 2015).

The Court of Federal Claims has ruled in Dynetics Inc. v. United States (No. 12-576T) that Dynetics didn't qualify for an R&D credit because its research was funded by another party.

The House and Senate have each passed a tax bill that includes significant changes to the tax treatment of nonqualified deferred compensation, and the bills are being referred to conference. If enacted, this legislation would require every business to do a thorough review of its employee and director compensation arrangements and its executive employment agreements and, in most cases, will require substantial revisions of these arrangements.

On Tuesday, September 11, 2012, a delivery truck carrying mail addressed to the New Jersey Division of Taxation was involved in an accident.

While such individuals and groups must still be reported, this C&DI provides some flexibility in the manner of reporting.

A number of key tax provisions have either expired or will soon expire.

The US Court of Appeals for the Fifth Circuit has quietly rewritten the rules for who counts as a “limited partner” exempt from self-employment tax, replacing a taxpayer-friendly January opinion with a more restrictive standard that will make the exemption harder to claim for partners who are actively involved in running their businesses.

On February 22, 2017, the Tax Court issued its decision in General Foods Credit Investors # 3 Corporation v. Director.1 The primary issue involved whether certain sale-leaseback assets belonged in the taxpayer's property factor for corporation business tax purposes.

The IRS issued final regulations (T.D. 9681) on July 22 that adopt proposed regulations concerning the deductibility of start-up expenditures under Section 195.

The IRS recently released final regulations addressing the tax treatment of the entertainment use of business aircraft.