Monthly Minute | January 2020
• As noted in Part 1 of this series, new H.R. 1, informally known as the Tax Cuts and Jobs Act (Tax Act), has been the most important change to the U.S. tax code in a generation. • In Part 2, this client alert continues to...more
The 2017 tax reform legislation added section 250 to the Internal Revenue Code, effectively creating a new preferential tax rate for income derived by domestic corporations from serving foreign markets. The new deduction is...more
The Tennessee Department of Revenue issued Notice 13-06 in June notifying taxpayers that its acceptance of voluntary disclosure of intangible expense deductions at a preferred settlement rate will be ending later this year....more
The Tennessee Department of Revenue (Department) has issued Notice #13-06, dated June 2013, encouraging taxpayers subject to the Tennessee Excise Tax who took deductions for "intangible expenses" paid to affiliated or related...more
Representative Dave Reed (R-Indiana Co.), with more than fifty co-sponsors, has reintroduced legislation (H.B. 440) that would require corporations preparing PA Corporate Net Income Tax returns to add-back any “intangible...more