The IRS proposed regulations on Jan. 16 that will offer many taxpayers new opportunities to claim R&D tax credits for software that previously would have been excluded under the internal use software rules.

These regulations concern management fee waivers and may significantly affect certain private equity fund arrangements.

The IRS has issued 2014 draft instructions to Form 1042-S, Foreign Person’s U.S. Source Income Subject to Withholding, which include a transitional rule for payments subject to the Foreign Account Tax Compliance Act (FATCA) applicable after July 1, 2014.

The Michigan Department of Treasury recently released guidance acquiescing in its interpretation of the term "materials and supplies"...

On June 28, 2017, the Michigan Supreme Court unanimously held that a charitable institution that imposes certain restrictions or conditions on its beneficiaries may still qualify for a property tax exemption...

On June 28, 2017, New Hampshire Gov. Chris Sununu signed a budget bill which updates the Internal Revenue Code (IRC) conformity date and increases the IRC Section 179 depreciation expense deduction limitation.

On May 24, 2017, the New Jersey Tax Court granted a taxpayer's motion for summary judgment and allowed deductions for royalty payments made by a subsidiary to its parent company.

A new, mandatory reporting requirement from the IRS became effective Jan. 1, requiring any entity with an employer identification number (EIN) to report the latest change to its responsible party.

On June 27, 2017, in a unanimous decision, the Oklahoma Supreme Court reversed the Oklahoma Tax Commission and held that an individual taxpayer could take a capital gain deduction for the proceeds...

On June 27, 2017, in a unanimous decision, the Oklahoma Supreme Court reversed the Oklahoma Tax Commission and held that an individual taxpayer could take a capital gain deduction for the proceeds that he received...

President Obama has announced he will nominate White House Chief of Staff Jack Lew to become the next Treasury secretary.

Retailers that sell fuel in Texas may be entitled to a pollution control exemption, which could significantly affect the amount of personal property tax paid to the state.

Congress continued its legislative work last month on the more than 50 tax provisions that expired at the end of 2013.

The U.S. Supreme Court has granted certiorari in United States v. Quality Stores Inc. (No. 12-1408), paving the way for the high court to determine whether Federal Insurance Contributions Act (FICA) tax applies to supplemental unemployment benefits (SUB) payments.

The Supreme Court, in a landmark decision guaranteeing equal federal marital rights to couples in same-sex marriages, struck down section 3 of the Defense of Marriage Act as unconstitutional.

The U.S. Tax Court ruled that a trust can materially participate in trade or business activities based on the effort of its trustees.

On April 10, 2017, a Tennessee chancery court granted an order arising from a joint motion by the Tennessee Department of Revenue and two parties representing impacted businesses...

The Texas Court of Appeals, Third District recently determined that a taxpayer was not entitled to include labor costs incurred as part of repair work to install automotive parts on customer-owned vehicles...

On July 7, 2017, Washington Gov. Jay Inslee signed legislation that will require remote sellers, marketplace facilitators, and referrers to collect and remit sales or use tax, or alternatively comply with...

The Committee on Ways and Means announced last week that its first hearing of the new year will focus on pro-growth tax policies.