$10,000 SALT Cap Continues to Receive Attention
One of the little-known provisions of the House of Representatives’ HEROES Act could have big impacts for high-income taxpayers and small businesses later on as tax policies continue to be reevaluated.
Final Regs. Address Payments to Charities in Return for SALT Credits
Amendments to section 162, 164, and 170 regs. formalize safe harbors for payments to charitable organizations in exchange for SALT credits.
Multi-state Businesses Have Choices with Pass-through Entities and State Income Taxes
What happens when an entity derives income from doing business in multiple states?
State Tax Authorities Issue Special Coronavirus Provisions
Several state tax authorities have announced various relief provisions for businesses and individuals impacted by the Coronavirus. In many cases, the provisions are an emphasis of relief provisions already available such as extensions to file
Avoid Costly State Use and Sales Tax Mistakes
Many businesses find themselves purchasing a significant amount of supplies and equipment online. However, chances are your business does not have a policy in place to identify online purchases where sales tax has not been paid at the time of purchase and remits use tax on these items.
Virginia Tax Conformity and Its Impact on 2018 Filings
Every year, passing tax conformity legislation in the General Assembly is an important issue for Virginia taxpayers, and failure to pass conformity early in the legislative session can cause severe disruption and delay in filing returns and receiving timely refunds.
Supreme Court Ruling Fundamentally Alters Sales Tax
The U.S. Supreme Court has fundamentally altered Wayfair, Inc., and other online retailers’ ability to offer items at a lower cost than their brick and mortar counterparts. States can now require online retailers to collect sales tax from every customer no matter if they have a physical location in the shopper’s state, leaving online consumers to pay more for the items they buy.