Science, Computers & Technology Tax

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Illinois State Senators Introduce Legislation To Boost Biobased Economy

On February 9, 2017, Illinois State Senators Andy Manar and Chapin Rose introduced legislation aimed at growing Illinois’ biobased economy by providing incentives under the Renewable Chemical Production Tax Credit Program...more

News from the Vermont State House - An analysis from DRM's Government & Public Affairs Team - February 2017 #2

Governor’s $35 Million Housing Bond Discussed in Ways and Means Committee - Executive Director Gus Selig of the Vermont Housing and Conservation Board revealed some of the details this week behind the $35 million bond...more

Train Your Team: Protect Personally Identifiable Information From a Widespread Phishing Scam

Every January 31, employers scramble to meet the deadline for mailing W-2 forms to their employees. This year, a new iteration of an old W-2 phishing scam surfaced immediately thereafter....more

ALERT: Beware of W-2 Scam!

Our Data Privacy and Security team is currently assisting multiple clients in responding to nearly identical fraudulent requests for IRS Form W-2 information. Significantly, these clients are in a number of industries and are...more

Renewable Energy Update - February 2017 #2

Renewable Energy Focus - Renewables made up majority of new U.S. capacity in 2016 - Solar Industry Magazine - Feb 6 - Renewable energy dominated new U.S. electrical generation put into service during...more

GOP Senior Statesmen Call for Carbon Tax

A group of Republican senior statesmen is calling for a carbon tax to fight climate change. Led by former Secretary of State James A. Baker III, former Secretary of State George P. Shultz and former Secretary of Treasury...more

IRS Issues Warning of “Dangerous W2 Phishing Scam”

We always see a surge in W2 email phishing schemes this time of year, as it is tax time, and many individuals are filing their tax returns in order to get a quick refund. So are criminals and cyber-hackers. ...more

The Blockchain revolution: An analysis of regulation and technology related to Distributed Ledger Technologies

Blockchain is on the verge of revolutionizing how we interact in the digital world. It has far reaching applications from the Financial industry to many other sectors of the economy. The question is what is Blockchain, what...more

Will Cryptocurrency Abuse be an Enforcement Focus for the IRS this Tax Season?

Tax filing season began January 23rd, and with its arrival the IRS began rolling out its annual list of the so-called “Dirty Dozen.” The Dirty Dozen list is an educational effort to inform the public about scams, but it also...more

Employees Expecting Tax Refunds? So Are Your Hackers

With the beginning of the 2016 tax season, employers should be on high alert for the wave of W-2 spear phishing scams coming their way once again this year. Companies that fall victim to this type of scam likely will be faced...more

2016 Year End Review: Virtual Currency: DOJ and IRS Broadly Seek Virtual Currency Account User Information

Under Internal Revenue Code section 7609(f), the IRS may issue a “John Doe” administrative summons to discover the identities of unknown taxpayers. A “John Doe” summons can be a powerful enforcement tool because it allows the...more

Safeguarding Your Company from Cyber Tax Crimes - Take Action Now!

As if tax season was not bad enough, the U.S. Internal Revenue Services ("IRS") recently issued an urgent alert warning that cybercriminal phishing scams are utilizing a new, more dangerously effective method for large-scale...more

It’s Tax Time – Don’t be Phished

It’s that taxing time of the year. Employees have received W-2 forms and the tax filing season has begun in earnest. And, as night follows day, last year’s W-2 spear-phishing scam has returned. The IRS and state tax...more

The (Border) Adjustment Bureau: Hold On to Your (Imported) Hats

Retailers would be wise to pay close attention to the upcoming tax-plan deliberations of the 115th U.S. Congress. A proposal currently being considered would adjust the U.S. corporate tax by making imports a non-deductible...more

Renewable Energy Update - January 2017 #4

Renewable Energy Focus - Treasury nominee backs existing phaseout of the wind energy tax credit - Greentech Media - Jan 24 - Amid the flurry of news leading up to the inauguration of President Trump,...more

China Tax Newsletter - September / December 2016

Welcome to the latest issue of our Tax Newsletter. In this issue we have covered a number of developments and cases in the PRC and Hong Kong from September to December 2016 which could have legal and tax implications to your...more

Massachusetts Governor Charlie Baker May Propose Unconstitutional Sales Tax Collection Responsibility on Remote Sellers

BOSTON – January 27, 2017. In an attempt to balance his $40.5 billion budget, Governor Charlie Baker may propose that remote sellers be required to collect Massachusetts sales taxes on sales of tangible personal property made...more

Bitcoin and the IRS - The Battle Continues

Dispute is heating up over IRS’s attempts to get personal information about users of Bitcoin and other virtual currencies. Last November, the Internal Revenue Service (“IRS”) filed a petition in the United States...more

Tax Season Becomes "Spear Phishing" Season for Cybercriminals

Imagine this scenario. Your HR team receives an email from your CEO: "I want you to send me W-2s of employees' wage and tax statement for 2015, I need them in PDF file type, you can send it as an attachment." They hurry to...more

Potential Repeal of Medical Device Tax

With the upcoming Republican-dominated Presidency and Congress in 2017, the Affordable Care Act, or at least parts of it, look to be on the chopping block. One of the changes that may be forthcoming is a repeal of the 2.3%...more

Can a PA Employer be Liable to its Employees for a Data Breach?

It’s a nightmare scenario for any employer: you’ve been hacked. Thousands of your employees’ names, birthdates, Social Security numbers, and bank account information have been stolen. This information is used to file...more

Registration with the RF tax authorities aimed at payment of VAT by foreign e services providers

Dentons’ Russia Tax practice would like to remind readers that, starting 1 January 2017, foreign companies providing e-services are required to undergo special tax registration according to the procedure of Clause 4.6 of...more

Tax Season Is in Full Swing: Beware of the W-2 Spear Phishing Scam

Last year we saw an unprecedented number of companies of all sizes fall victim to a W-2 spear phishing scam. The scam usually began with a “spoofing” email that appeared to have been sent by a company’s CEO or CFO to one or...more

New Jersey Tax Court Clarifies Sales Tax on Software

The New Jersey Tax Court recently issued a decision concluding that pre-written software sold on tangible media was tangible personal property for New Jersey sales tax purposes. Notwithstanding this decision, most business...more

2016 was the Year of the Data Breach

Although every year we lament about the significance of data breaches in the past year, 2016 was by far the worst. Data breaches were rampant, victimizing every industry and numbing consumers in the process. It was so bad...more

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