In a recent New York State Advisory Opinion, the New York State Department of Taxation and Finance advised that a federal income tax entity classification election could impact whether property held by a nonresident through a...more
The John Doe summons is an information-gathering tool that has been available to the IRS for many years, traditionally used to seek information about unknown persons suspected of tax evasion from banks, investment advisors or...more
On March 10, 2015, the New Jersey Division of Taxation issued Technical Advisory Memorandum TAM-2015-1, explaining its policy regarding convertible virtual currency.
- The IRS has held that convertible virtual currency...more
On July 1, 2014, the United States Supreme Court agreed to review the 10th Circuit Court of Appeals decision in Direct Marketing Association v. Brohl. The Court of Appeals held that federal courts lack jurisdiction under the...more
The first installment payment for the new San Francisco Gross Receipts Tax was due April 30, 2014. Many questions about the new tax remain. While the City has provided some relief from installment underpayment penalties,...more