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New Jersey Senators Lesniak (D), Greenstein (D), and Sarlo (D) held a press conference today concerning combined-reporting legislation that they are sponsoring.

The California Office of Tax Appeals (OTA) held a California resident was not entitled to claim an other state tax credit (OSTC) for taxes paid to Massachusetts...

A recent Tax Court decision underscores that even a thriving, mission-driven business cannot outrun basic tax compliance. In Branch v. Commissioner, the court sustained the bulk of a multi-million-dollar deficiency...

For several weeks, Ryan and Hatch appeared to be abandoning efforts to pass a comprehensive tax reform bill that would lower both corporate and individual rates.

In a 5–2 decision, the Pennsylvania Commonwealth Court in an en banc panel has held that Pennsylvania's NOL cap violates the Uniformity Clause of the Pennsylvania Constitution, and granted the taxpayer (Nextel Communications of the Mid-Atlantic, Inc., or "Nextel") the right to deduct its NOLs without regard to the statutory NOL cap, which resulted in a refund to Nextel.

There is ongoing litigation over whether Pennsylvania's NOL cap is unconstitutional. Many taxpayers have already filed protective refund claims to preserve their rights in the event the cap is found unconstitutional.

The president has signed into law a transportation funding bill (H.R. 4348) that extends current fuel taxes and raises new revenue with several pension and retirement plan provisions.

Joshua Rubenstein, national chair of Katten's Private Wealth Department, is editor of the first edition of the Law Over Borders Comparative Legal Guide Private Client.

On June 22, 2020, the U.S. House of Representatives unveiled H.R. 2, the Moving Forward Act, an expansive $1.5 trillion infrastructure bill, proposing an increase in federal funding...

The U.S. Department of the Treasury and IRS recently proposed rules that would modify the timing of so-called "hot asset" reporting.

The IRS has proposed regulations (REG-153627-08) to amend the rules for automatic extensions of time for filing certain employee plan returns by adding Form 8955-SSA

Taxpayers taxed as C corporations for federal income tax purposes, and estates and trusts subject to tax levied in R.S. 47:300.1 are prohibited from earning the inventory tax credit (ITC) against state taxes...

Prohibiting an IRA from holding certain private investments.

After months of speculation, President Trump and the Republicans have finally announced their framework for tax reform.

The recently passed Emergency Economic Stabilization Act of 2008 (or "Rescue Bill") contains numerous tax breaks and benefits to individuals and businesses, including one that may be of special importance to those over the age of 70-1/2 who own IRAs and who wish to make charitable gifts before year end.

Individuals may contribute up to $5,500 to a traditional and a Roth IRA for 2016. This is the same limit as 2015.

Federal courts are grappling with a fundamental question in partnership taxation: does the limited partner exception to self-employment tax depend on a partner's formal status under state law, or on whether they function as a passive investor? With the Fifth Circuit adopting a state law approach while the Tax Court applies a functional analysis, the stage may be set for a circuit split that could ultimately reach the Supreme Court.