The Internal Revenue Service (IRS) has announced that, effective January 1, 2017, the existing procedure for issuance of favorable IRS determination letters for qualified pension, profit-sharing and 401(k) plans will be...more
The Oklahoma Legislature enacted changes in Oklahoma tax laws in its 2015 session.
The changes include a tax amnesty program for payment of delinquent taxes without interest or penalty during a two (2) month...more
For some at the age of this author, a CARE package is known and remembered from when it was first offered and popularized after the end of World War II by Cooperative for Assistance and Relief Everywhere Inc. as an emergency...more
The Oklahoma Tax Commission has published proposed changes to the administrative rules with respect to Oklahoma taxes ("OTC Rules") for 2015.
The OTC Rules are formal statements of policy written by the Tax...more
The Oklahoma Supreme Court has ruled that the Oklahoma income tax capital gains deduction is allowable and does not violate the Commerce Clause of the U.S. Constitution. The denial of the deduction to an out-of-state company...more
The Supreme Court of Oklahoma has ruled Oklahoma tax legislation enacted in 2013 reducing the top Oklahoma individual income tax rate from 5.25% to 5% in 2015, with further reduction to 4.85% possible in 2016, is...more
The Oklahoma Uniform Tax Procedure Code has recently been amended to provide an important alternative right of appeal to taxpayers from Oklahoma Tax Commission decisions assessing a tax or additional tax or denying a claim...more