The principal effect of the rules would be to turn virtually any contribution of appreciated property by a US person to a section 721(c) partnership into a taxable gain recognition event.
On August 6, the US Treasury...more
The new guidance addresses the New York sales and use tax treatment of cloud computing services.
On April 14, the New York State Department of Taxation and Finance (the Department) issued Advisory...more
The U.S. Supreme Court unanimously held that the Tax Injunction Act does not bar Direct Marketing Association’s federal court challenge to Colorado’s sales and use tax notice and reporting requirements....more
The IRS notice further eases, but does not delay, FATCA implementation.
On May 2, the Internal Revenue Service (IRS) published Notice 2014-33 (the Notice), which announced that calendar years 2014 and 2015 will be...more
Foreign financial institutions, such as offshore funds, should register with the IRS by May 5 and review new and revised IRS forms.
The July 1 start date for Foreign Account Tax Compliance Act (FATCA) withholding on...more
IRS modifies rules allowing the deferral method of accounting for advance payments received for the sale of gift cards that are redeemable by an unrelated party.
On July 24, the Internal Revenue Service (IRS) released an...more
IRS notice postpones FATCA withholding by six months and revises other key deadlines.