News & Analysis as of

Filing Requirements Tax Credits

Allen Barron, Inc.

Tax Developments for US Expatriates

Allen Barron, Inc. on

There have been many recent tax developments for U.S. expatriates. It is essential for U.S. citizens residing outside the United States and those considering an expat life to understand their responsibilities as U.S....more

Lippes Mathias LLP

Where's My Employee Retention Credit?

Lippes Mathias LLP on

In the years since COVID-19 shut down the country, many businesses applied for the Congressionally-authorized Employee Retention Credit (ERC), a valuable relief program created during the pandemic to support businesses who...more

Buckingham, Doolittle & Burroughs, LLC

IRS Issues Guidance Simplifying Income Tax Compliance Related to the Employee Retention Credit

The IRS recently released new FAQ guidance providing a simplified procedure for addressing income tax amendments and refund claims related to Employee Retention Credit (ERC) determinations. See IRS FAQs. Taxpayers claiming...more

Ballard Spahr LLP

IRS Changes Course on Income Tax Impact of Employee Retention Credit

Ballard Spahr LLP on

On March 20, 2025, the IRS updated its guidance to employers that claimed the employee retention credit (ERC). The updated guidance materially differs from prior IRS guidance of how and when employers should report the income...more

Weber Gallagher Simpson Stapleton Fires &...

Navigating Tax Filing Season: Essential Tips for Couples and Families

It’s tax filing season and now is the time to gather your important tax documents. Of course, tax filers should be aware of the basics including gathering your employment W2s and 1099s. But, what about the not so basic...more

Bowditch & Dewey

Major 2024 Changes for Individual Massachusetts Taxpayers

Bowditch & Dewey on

Due Date - The due date for Massachusetts Income Tax Returns is April 15, 2025. Income Tax Rate - The tax rate on most types of taxable income is 5%. The tax rate on long-term gains from the sale or exchange of...more

Vinson & Elkins LLP

Crux + Vinson & Elkins: Tax Credit Transfers 101: A Guide to the Essential Steps

Vinson & Elkins LLP on

Much has been written about the benefits of tax credit transfers following the passage of the Inflation Reduction Act (IRA), but questions remain as to how to actually effectuate a transfer. This how-to guide provides market...more

Baker Donelson

SALT Select Developments - March 2024

Baker Donelson on

State and local taxes impact almost every taxpayer, and developments in any one jurisdiction can be frequent and sometimes confusing. ln this newsletter edition, we will briefly summarize selected state and local tax (SALT)...more

Mintz - Tax Viewpoints

IRS Opens Registration Portal for the Elective Payment or Transfer of Tax Credits

The Internal Revenue Service (IRS) recently launched a new online registration portal allowing taxpayers to begin the registration process that must be completed in order for a taxpayer to elect to transfer a credit (under...more

Eversheds Sutherland (US) LLP

Congress considers TCJA extenders and Taiwan tax relief

In mid-January, the House introduced the Tax Relief for American Families and Workers Act (Act). The Joint Committee of Taxation has released its explanation of the Act, and the House Ways and means Committee has released a...more

Miller Canfield

The IRS's New Specificity Requirements for Research Credit Refund Claims – Possible Taxpayer Actions in Opposition

Miller Canfield on

On October 15, 2021, the IRS published Information Release 2021-203, based on Memorandum 20214101F (the "Memorandum") prepared by Field Attorneys in the Office of Chief Counsel, setting out a detailed procedure requiring...more

Bricker Graydon LLP

IRS announces changes to Form 8038-CP coming in January 2022

Bricker Graydon LLP on

On November 16, 2021, the Internal Revenue Service (IRS) publicly previewed a draft of a revised Form 8038-CP (Return for Credit Payments to Issuers of Qualified Bonds), along with updated filing instructions and a new...more

Schwabe, Williamson & Wyatt PC

Washington Enacts Excise Tax on Gains from the Sale or Exchange of Certain Capital Assets

Over the weekend, the Washington State Legislature passed a bill that would enact a tax on gains from the sale or exchange of certain capital assets. The bill, which was signed into law by Governor Jay Inslee on April 27,...more

Bradley Arant Boult Cummings LLP

Snapshot: Corporate Income and Franchise Taxes in the USA

How is taxable income determined in your state? To what extent is the state income tax base aligned with the federal income tax base? Alabama levies a corporate income tax on business entities classified as taxable or “C”...more

Akin Gump Strauss Hauer & Feld LLP

What's New in Washington - July 2020

The legislative calendar continues to march forward as members of Congress adapt to their new work environments and routines. With the House and Senate both in session this week, Senate Republicans plan to roll out their...more

Lathrop GPM

Employer Documentation Required to Support New Paid Leaves, and Related Tax Credits, Detailed by DOL and IRS

Lathrop GPM on

On April 1, the U.S. Department of Labor (DOL) issued temporary regulations related to the new Families First Coronavirus Response Act. One notable feature of the regulations is that the DOL clarified the documentation an...more

Pillsbury - SeeSalt Blog

COVID-19: Comprehensive Coverage of State Income Tax Relief as of March 29, 2020

Forty-four states plus the District of Columbia impose an income tax on corporations. In response to the COVID-19 pandemic, 36 of those 45 jurisdictions have established income tax relief to corporate taxpayers in the form of...more

Polsinelli

Tax Implications of COVID-19

Polsinelli on

The U.S. Congress has been moving swiftly in recent weeks to address the COVID-19 pandemic. The $8.3 billion Coronavirus Preparedness and Response Supplemental Appropriations Act was signed into law by President Trump on...more

Troutman Pepper Locke

Federal and State Governments Begin to Provide Economic Assistance via Tax Relief in the Face of COVID-19 Economy Disruptions

Troutman Pepper Locke on

Updated on March 20, 2020, 9:00 PM CDT - U.S. Treasury and States Tax Authorities Extend Due Dates - On March 20, 2020, the U.S. Treasury expanded taxpayer relief by extending the filing date by 90 days for Federal income...more

McDermott Will & Emery

Weekly IRS Roundup February 18 – 22, 2019

McDermott Will & Emery on

Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of February 18 – 22, 2019. February 19, 2019: The IRS issued a news release promoting online...more

Chambliss, Bahner & Stophel, P.C.

Things to Remember at Tax Time

Tax day, which is April 18th in 2017, is approaching and it is time to begin crossing T's and dotting I's in preparation for paying taxes. As tax time draws near, you want to make sure you file all the proper forms and take...more

Stinson - Corporate & Securities Law Blog

Trump Risk Factors Begin to Appear in SEC Documents

Risk factors related to uncertainties resulting from possible policies that may be implemented by President-elect Trump have begun to appear in SEC filings...more

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