April 18, 2018
On March 7, 2018, David J. Kautter announced that official guidance on the qualified business income deduction will not be available until the late summer or early fall. Mr. Kautter was responding to a letter dated February 21, 2018 from the American Institute of CPA’s (“AICPA”) requesting immediate guidance to resolve the many ambiguities in the qualified business income deduction (Section 199A).
April 18, 2018
The U.S. Supreme Court on April 17, 2018 heard oral arguments in South Dakota v. Wayfair, on whether the justices should overrule the 1992 Quill decision, which prevents states from collecting sales taxes from vendors who have no physical presence in the customer’s state.
April 16, 2018
Supreme Court Hears Wayfair Oral Arguments: Are Most Internet Sales Now Subject to Sales Tax? The Massachusetts Tax Alert™ By Attorney Yale Yechiel N. Robinson and Attorney Morris N. Robinson, CPA, LL.M. April 16, 2018 The U.S. Supreme Court will hear oral arguments in South Dakota v. Wayfair, Inc. on Tuesday, April 17, 2018. In response to a possible change in the law of state tax nexus, we suggest that businesses should evaluate their current tax compliance and consider making a voluntary disclosure if they are not fully compliant with state sales tax laws.
March 27, 2018
The IRS recently launched a new “IRS Account” portal for individual U.S. taxpayers, available at www.irs.gov/account (click the blue button that says “View your account”). Individuals who register and login to their secure accounts can review data from recently filed tax returns (Form 1040), obtain refund status information, and pay taxes online from a bank account or credit card account. Click here to view an illustrative screenshot of the IRS Account portal.
March 15, 2018
The IRS announced it will be closing its Offshore Voluntary Disclosure Program (OVDP) as of September 28, 2018. The news follows a significant decrease in taxpayer participation in the program, coupled with advances in third-party reporting of offshore account information and increased awareness of reporting obligations. All submissions made by the deadline must ...
March 6, 2018
The deadline for individuals to file and pay their 2017 taxes will be Tuesday, April 17, 2018, which is six weeks from now. As we continue to work through “tax season,” I suggest that taxpayers add a withholding review to their to-do list for “tax season.”
March 5, 2018
IRS Announces Withholding Tax Changes for 2018: Employers and Employees Should Review Their W-4 Forms During “Tax Season” By Yale Yechiel N. Robinson The Massachusetts Tax Alert™ The Internal Revenue Service (IRS) announced on February 28, 2018 that it has updated its online withholding calculator and the W-4 form to comply with the new tax rates under the Tax Cuts and Jobs Act of 2017. Most employers have already adopted the new tax withholding tables for their employees’ wages based on the revised IRS Notice 1036.
February 19, 2018
Smith v. Comm’r: Before You Take that Business-Related Tax Loss, Ask “Does My Business Have a Bona Fide Purpose?”January 19, 2018
January 19, 2018
In 2015, the Fixing America's Surface Transportation (FAST) Act contained a provision in which the IRS would interact with the State Department to deny or revoke the passports of taxpayers with "seriously delinquent tax debts." However, details needed to be worked out between the two agencies before the effort could begin. On January ...