By H. Jacob Lager of Zuber & Taillieu
The Tax Court has held that the step transaction doctrine did not apply to a series of bargain sales from a family-owned S Corp. to a charitable organization. As a result, the shareholders were entitled to charitable contribution deductions related to the sales. In William R. Klauer v. Commissioner of… More...
A federal court in Providence, R.I., has ordered that Michael Brier, the owner of the tax return preparation firm Refunds Now Inc., and his employees, Jeffrey Sroufe, Esther Santiago and Carmen Miranda, be permanently barred from preparing federal income tax returns for others, according to the Justice Department. More...
In this Petition for Advisory Opinion, the Department of Taxation and Finance (“Department”), Petition asked whether any portion of the price it paid for prewritten software is subject to New York State sales and use taxes. More...
The Internal Revenue Service (“IRS”) has issued guidance providing relief to homeowners who have suffered property losses due to the effects of certain imported drywall installed in homes between 2001 and 2009. More...
The Internal Revenue Service (“IRS,” or “Service”) has written an information letter in response to a query from Rep. John P. Sarbanes (D-Md.) about the deductibility of litigation costs paid by law firms under a contingent gross fee contract. More...
The New York State Department of Taxation and Finance (“Department”) has issued a salex tax memo, stating that Chapter 57 of the Laws of 2010 recently amended the sales and use tax law to enact changes to the state’s exemption for clothing, footwear, and items used to make or repair clothing (clothing and footwear) sold for less than $110 per item or pair. More...
A federal court in Los Angeles has permanently barred three Huntington Beach men from preparing federal tax returns for customers, according to the Justice Department. More...
The New York State Department of Taxation and Finance (“Department”) has issued a sales tax memo to explain that Chapter 57 of the Laws of 2010 recently amended the Tax Law to narrow the definition of a vendor for purposes of sales and use tax (sales tax). More...
New York State Department of Taxation and Finance (‘Department”) has issued a sales tax memo to explain that legislation was recently enacted (Chapter 57 of the Laws of 2010), effective September 1, 2010, to ensure that state and local sales taxes (sales tax) are paid on the full amount charged to customers by businesses such as Web-based travel companies (hereinafter room remarketers) for hotel occupancy in New York State. More...
The issue in this advisory opinion issued by the New York State Department of Taxation and Finance (“Department”) is whether Petitioner’s receipts from printing and mailing patient billing statements are subject to sales tax. More...
This notice provides interim relief to employers with respect to reporting the cost of coverage under an employer-sponsored group health plan on Form W-2, Wage and Tax Statement, pursuant to § 6051(a)(14) of the Code. More...
