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