On March 1, 2023, the House Revenue Committee will hold an informational hearing on three taxpayer-friendly bills:
- H.B. 2546, which would eliminate Oregon’s throwback rule for sales factor purposes;
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California Office of Tax Appeals – Significant Changes May Be on the Horizon
California’s youngest tax agency, the Office of Tax Appeals (OTA), may be in for some significant changes based on proposed amendments (Proposed Amendments) to Title 18, Chapter 4.1 of the
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IRS Revisions to Internal Revenue Manual Clarify Who Is Eligible for Late Filing Penalty Relief
On Aug. 29, the IRS released a new section to the Internal Revenue Manual (IRM), 20.1.1.3.3.2.2, providing penalty relief for certain taxpayers filing 2019 and 2020 returns in response to
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The IRS Grants Penalty Relief for 2019 and 2020, But…
On Aug. 24, 2022, the IRS issued Notice 2022-36, which provides penalty relief to taxpayers for certain late-filed 2019 and 2020 tax returns and information returns, but this relief
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Greenberg Traurig Secures Win for Client in Obus v. New York State Tax Appeals Tribunal; Ruling is Major Change in New York Law on Statutory Residency
In a major change in New York’s law on statutory residency, in a June 30 ruling in Obus v. New York State Tax Appeals Tribunal, the New York State
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Another Micro-Captive-Case Loss: 10th Circuit Affirms Tax Court Ruling in Reserve Medical Corp. v. Commissioner
On May 13, 2022, in Reserve Mechanical Corporation v. Commissioner,[1] the U.S. Court of Appeals for the Tenth Circuit affirmed a Tax Court decision that a micro-captive insurance
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Dutch Presented Tax Measures for 2022
On Budget Day, 21 September 2021 (Prinsjesdag), the Dutch Ministry of Finance presented its 2022 tax plan. For the proposed bills in this plan to have effect, they
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IRS Says No Tax-Free Exchange Treatment for Swaps of Bitcoin, Ether, and Litecoin
The IRS has published guidance stating that pre-2018 swaps among Bitcoin, Ether, and Litecoin are not eligible for 1031 tax-free exchange treatment. This means that investors who made swaps among
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The IRS Announced a New Non-Filer Initiative Over a Year Ago – Now We See the Enforcement
In February 2020, the IRS announced that it would step up efforts to contact high-income taxpayers (defined as earning $100,000 or more per year), who in prior years have failed
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Non-Recourse Financing Can Imperil Tax Deductions: The Application of the Internal Revenue Code ‘At-Risk’ Rules to Aircraft Purchases
Taxpayers who lease or purchase aircraft face a myriad of tax issues, and aircraft can be a favorite target of both federal and state tax auditors. While the restrictions imposed
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