On March 24, the Washington Supreme Court in a 7-2 decision upheld the 7% capital gains tax enacted in 2021, concluding the tax violated neither the Washington state Constitution nor
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Non-Willful Failure to File FBAR Under BSA Should Be Penalized on a Per-Report Basis, Supreme Court Rules for Taxpayer Against IRS
The applicable penalty for the non-willful failure to file a foreign financial account is applied on a per-form basis, not a per-account basis, the U.S. Supreme Court decided Feb. 28
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Oregon House Revenue Committee Set to Hear More About Pro-Taxpayer Bills
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;
![shutterstock_1209468139[1]](https://www.gtlaw-legacyadvisors.com/files/2022/02/shutterstock_12094681391.jpg)
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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Nikki Dobay Quoted in Tax Notes Article, ‘Business Groups Urge Oregon Lawmakers to End Throwback Rule’
Nikki E. Dobay, a shareholder in GT’s State & Local Tax (SALT) Practice, is quoted in a Tax Notes article titled “Business Groups Urge Oregon Lawmakers to End
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IRS Releases Guidance on the Low-Income Communities Bonus Credit Program for Solar and Wind Facilities
The Internal Revenue Service issued Notice 2023-17 providing guidance on the Low-Income Communities Bonus Credit Program established under Internal Revenue Code Section 48(e) including environmental justice solar and wind capacity
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IRS Establishes a Program to Allocate Credits to Qualifying Advanced Energy Projects
The Internal Revenue Service issued Notice 2023-18 establishing a program to allocate $10 billion of credits for qualified investments in eligible qualifying advanced energy projects under Internal Revenue Code Section
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March 7 Webinar | A Conversation with the IRS and ATO
Please join Greenberg Traurig and Clayton Utz March 7 at 4:30 p.m. EST for a special webcast conversation with Rebecca Saint, Deputy Commissioner, Public Groups & International, Australian Tax
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IRS and Treasury Department Finalize Qualified Foreign Pension Funds Regulations
The Foreign Investment in Real Property Tax Act of 1980, as amended (FIRPTA), imposes tax on gain realized on disposition by nonresident alien individuals or foreign corporations (non-U.S. persons) of
Continue Reading IRS and Treasury Department Finalize Qualified Foreign Pension Funds Regulations
IRS Temporary Relief for Foreign Financial Institutions Required to Report U.S. Taxpayer Identification Numbers Under FATCA: Potential Implications for ‘Accidental Americans’
IRS Notice 2023-11 provides temporary relief for foreign financial institutions to provide U.S. taxpayer identification numbers for preexisting accounts.
Continue Reading IRS Temporary Relief for Foreign Financial Institutions Required to Report U.S. Taxpayer Identification Numbers Under FATCA: Potential Implications for ‘Accidental Americans’