Tax Law Updates

Featured Expert Legal Commentary

In re Quality Stores, Inc.: Sixth Circuit Excludes Some Severance Payments from FICA Tax

By H. Jacob Lager of Zuber Lawler & Del Duca

The Sixth Circuit has determined that some forms of severance payments are not taxable under FICA. In In re Quality Stores, Inc., No. 10-1563 (6th Cir. Oct. 6, 2012), the Court determined that payments made out of a company’s severance plans were SUB payments, which the Court concluded were not… More...

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Treasury, IRS Issue Proposed Regulations for FATCA Implementation

Regulations Relating to Information Reporting by Foreign Financial Institutions and Withholding on Certain Payments to Foreign F  |  IR-2012-15, 26 CFR Parts 1 and 301, REG-121647-10, RIN 1545-BK68  |  2/8/2012

The U.S. Department of the Treasury and the Internal Revenue Service (IRS) have issued comprehensive proposed regulations implementing the information reporting and withholding tax provisions commonly known as the Foreign Account Tax Compliance Act (FATCA). More...

More Innocent Spouses Qualify for Relief Under New IRS Guidelines

Notice 2012-8  |  Issue Number IR-2012-3  |  1/5/2012

The Internal Revenue Service has released new proposed guidelines designed to provide relief to more innocent spouses requesting equitable relief from income tax liability. More...

TIGTA Proposes Improvements to Offshore Accounts Voluntary Disclosure Program

The 2009 Offshore Voluntary Disclosure Initiative Increased Taxpayer Compliance, but Some Improvements Are Needed  |  Reference Number: 2011-30-118  |  9/21/2011

Voluntary disclosure practices that allow taxpayers to voluntarily disclose the existence of offshore accounts or assets to the Internal Revenue Service (IRS) are generally effective, according to a new report publicly released by the Treasury Inspector General for Tax Administration (TIGTA). More...

New York Leaders Unveil Overhaul of State Tax Code

New York – Major Restructuring of State Tax Code  |  No. _____  |  12/6/2011

Governor Andrew M. Cuomo, Senate Majority Leader Dean Skelos and Assembly Speaker Sheldon Silver have reached a proposed three-way agreement on legislative and executive proposals to cut taxes for middle class New Yorkers. More...

IRS Issues Proposed Regulations That Would Require Tax Preparers to File Due Diligence Checklist with All EITC Claims Submitted in 2012

Proposed Regulations on EITC Due Diligence Checklist  |  IR-2011-98  |  10/6/2011

The Internal Revenue Service is issuing proposed regulations that would require paid tax return preparers, beginning in 2012, to file a due diligence checklist, Form 8867, with any federal return claiming the Earned Income Tax Credit (EITC). More...

Treasury, IRS Propose Regulations to Provide Safe Harbor for Employers under Affordable Care Act

Health Coverage Affordability Safe Harbor for Employers (Section 4980H)  |  Notice 2011-73  |  9/23/2011

The Treasury Department and Internal Revenue Service have requested public comment on a proposed affordability safe harbor for employers under the shared responsibility provisions included in the Affordable Care Act that will apply to certain employers starting in 2014. More...

California BOE Proposes to Amend Regulation on Sales Tax on Indian Tribes’ Property

Proposal to Amend Proposed Amendments to California Code of Regulations, Title 18, Section 1616  |  New subdivision (d)(4)(G) to Regulation 1616  |  9/9/2011

The California State Board of Equalization (BOE) has propos­ed to amend Regulation 1616, Federal Areas, to clarify the additional circumstances under which sales of tangible personal property to and the use of tangible personal property by the governments of federally-recognized Indian tribes are exempt from California sales and use tax under Revenue and Taxation Code (RTC) section 6352. More...

IRS Publishes Proposed User Fees Relating to the Registered Tax Return Preparer Competency Examination and Fingerprinting Participants

User Fees Relating to the Registered Tax Return Preparer Competency Examination and Fingerprinting Participants in the Preparer  |  26 CFR Part 300, REG-116284-11, RIN 1545-BK24  |  9/21/2011

The IRS has published proposed regulations that would establish user fees for fingerprinting and taking the competency examination. More...

TIGTA: IRS Allowed Improper Claims for First-Time Homebuyer Credit On Amended Returns

Control Weaknesses Over Amended Returns Allowed Some Inappropriate Claims for the First-Time Homebuyer Credit to Be Allowed  |  Reference Number: 2011-41-057  |  6/24/2011

While the Internal Revenue Service (IRS) has made improvements in its processing of First-Time Homebuyer Credits, additional steps are necessary to prevent erroneous claims for the Credit on amended returns, according to a new report publicly released by the Treasury Inspector General for Tax Administration (TIGTA). More...

California BOE Announces Next Steps in Enforcement of On-Line Retailer Tax Law as State Prepares for Possible Referendum against It

Proposed Regulation to Amend Regulation 1684 on Sales and Use Tax Law – ABx1  |  Stats. 2011, Ch. 7  |  7/12/2011

The California Board of Equalization (BOE) has announced the next steps in enforcing ABx1 28, the measure passed by the Legislature and signed into law by the Governor on June 28, 2011. The law establishes use tax collection obligations on out-of-state retailers. More...

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Companies Mentioned

Tax Law

The following companies are mentioned in Tax Law Updates:

Internal Revenue Service

Swallows Holding, Inc.

The State of New York

New York State Department of Taxation and Finance

Amazon.com LLC

Amazon Services, LLC

Agere Systems, Inc. f.k.a. Lucent Technologies, Inc.

Detroit Medical Center

Department of Justice

Santini Stone LLC

City of Chicago

StubHub, Inc.

Mayer Brown LLP d.b.a. Mayer, Brown, Rowe & Maw LLP

Textron Inc.

County of Los Angeles

TIFD III-E, Inc.

Quality Stores, Inc.

Additional Resources

Tax Law