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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First Deadline Approaches for Participation in the Program for Non-Prosecution Agreements or Non-Target Letters for Swiss Banks

Program for Non-Prosecution Agreements or Non-Target Letters for Swiss Banks  |  DOJ NO. 13-1311  |  12/12/2013

The Tax Division of the Department of Justice yesterday strongly encouraged Swiss banks that want to seek non-prosecution agreements to resolve past cross-border criminal tax violations to submit letters of intent by the Dec. 31, 2013 deadline required by the Program for Non-Prosecution Agreements or Non-Target Letters for Swiss Banks (the Program). More...

Administration Issues Final Mental Health and Substance Use Disorder Parity Rule

Final Rules Under the Paul Wellstone and Pete Domenici Mental Health Parity and Addiction Equity Act of 2008  |  78 FR 68239  |  11/13/2013

The Departments of Labor, Health and Human Services and the Treasury have jointly issued a final rule increasing parity between mental health/substance use disorder benefits and medical/surgical benefits in group and individual health plans. More...

Revenue Ruling Recognizes Legal Same-Sex Marriages for Federal Tax Purposes

Revenue Ruling 2013-17  |  IR-2013-72  |  8/29/2013

The U.S. Department of the Treasury and the Internal Revenue Service (IRS) have ruled that same-sex couples, legally married in jurisdictions that recognize their marriages, will be treated as married for federal tax purposes. More...

IRS Expands Voluntary Worker Classification Settlement Program

Voluntary Classification Settlement Program  |  Announcement 2012-45 (2012-51 I.R.B. 724) and Announcement 2012-46 (2012-51 I.R.B. 725)  |  1/15/2013

The Internal Revenue Service has expanded its Voluntary Classification Settlement Program (VCSP) paving the way for more taxpayers to take advantage of this low-cost option for achieving certainty under the law by reclassifying their workers as employees for future tax periods. More...

IRS to Accept Returns Claiming Education Credits by Mid-February

American Opportunity Tax Credit and the Lifetime Learning Credit  |  IR-2013-10  |  1/28/2013

As preparations continue for the Jan. 30 opening of the 2013 filing season for most taxpayers, the Internal Revenue Service explained that processing of tax returns claiming education credits will begin by the middle of February. More...

Guidance Issued on the Principal Reduction Alternative Offered in the Home Affordable Modification Program (HAMP)

Revenue Procedure 2013-16  |  IR-2013-8  |  1/24/2013

The Internal Revenue Service has issued a guidance to borrowers, mortgage loan holders and loan servicers who are participating in the Principal Reduction AlternativeSM offered through the Department of the Treasury’s and Department of Housing and Urban Development’s Home Affordable Modification Program® (HAMP-PRA®). More...

Treasury and IRS Issue Final Regulations to Combat Offshore Tax Evasion

Regulations Relating to Information Reporting by Foreign Financial Institutions and Withholding on Certain Payments to Foreign F  |  26 CFR Parts 1 and 301, TD 9610, RIN 1545-BK68  |  1/17/2013

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

Tax-Free Transfers to Charity Renewed for IRA Owners 70½ or Older

Renewal of Tax-Free Transfers to Charity for IRA Owners 70½ or Older  |  IR-2013-6  |  1/16/2013

Certain owners of individual retirement arrangements (IRAs) have a limited time to make tax-free transfers to eligible charities and have them count for tax-year 2012, according to the Internal Revenue Service. More...

IRS Issues Simplified Option for Claiming Home Office Deduction Starting This Year

Simplified Option for Claiming Home Office Deduction  |  Revenue Procedure 2013-13  |  1/15/2013

The Internal Revenue Service has issued a simplified option that many owners of home-based businesses and some home-based workers may use to figure their deductions for the business use of their homes. More...

Filing Season for 2013 for 1040 Filers to Start on January 30, IRS Says

IRS Announcement on 2013 Tax Filing for 1040 Filers  |  IR-2013-2  |  1/8/2013

Following the January tax law changes made by Congress under the American Taxpayer Relief Act (ATRA), the Internal Revenue Service announced today it plans to open the 2013 filing season and begin processing individual income tax returns on Jan. 30. More...

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Companies Mentioned

Tax Law

The following companies are mentioned in Tax Law Updates:

Internal Revenue Service

Amazon.com LLC

Amazon Services, LLC

Swallows Holding, Inc.

The State of New York

New York State Department of Taxation and Finance

Textron Inc.

County of Los Angeles

TIFD III-E, Inc.

Quality Stores, Inc.

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

Additional Resources

Tax Law