Tax Alerts

The recent Supreme Court decision in South Dakota v. Wayfair, Inc. (June 21, 2018) has stirred a fair amount of chaos and confusion amongst states and business taxpayers. In short, the Supreme Court has decided to overturn the physical presence nexus requirement related to state and local sales or use taxes. The nexus requirement determines […]

The House’s top tax writer has unveiled Republicans’ “Tax Reform 2.0” framework. The framework outlines three key focus areas: making permanent the individual and small business tax cuts enacted under the Tax Cuts and Jobs Act (TCJA) ( P.L. 115-97); promoting family savings by streamlining retirement savings accounts and creating a new Universal Savings Account; […]

This article is reproduced with permission from Spidell Publishing, Inc. Governor Brown has signed AB 2503, which makes a domestic corporation and a limited liability company subject to voluntary or involuntary administrative dissolution or administrative cancellation if: the entity either never conducted business, filed returns or paid tax when it was operating and has no […]

The IRS faces numerous challenges, most of which are attributable to funding cuts, the National Taxpayer Advocate Nina Olson told a Senate panel earlier. “The IRS needs adequate funding to do its job effectively,” Olson told lawmakers. IRS Funding Olson, while testifying at a Senate Finance Committee (SFC) Taxation and IRS Oversight Subcommittee hearing, placed blame on […]

Senate Finance Committee (SFC) Republicans are clarifying congressional intent of certain tax reform provisions. In a published letter, GOP Senate tax writers called on the Treasury and the IRS to issue tax reform guidance consistent with the clarifications. The letter, addressed to Treasury Secretary Steven Mnuchin and Acting IRS Commissioner David Kautter, identifies three sections […]