Haight Partner Greg Rolen Testifies About SB 907 Before the California State Assembly
The Buzz, An Economic Development Podcast | Episode 82: Burnie and Kara
Tribal Tax Exemption Under McGirt Gains Preliminary Victory
4 Key Takeaways | Mid-Year Tax Update
Maryland's Controversial Tax on Digital Advertising Explained
#WorkforceWednesday: OSHA Issues COVID-19 Citations, Michigan Enacts Liability Shield, and States Battle for Telecommuter Taxes - Employment Law This Week®
Williams Mullen's Comeback Plan: Part I – State & Local Tax (SALT) Compliance During COVID-19: What to Do When You’re Behind
Videocast: SALT Scoreboard – 2019 year in review
Videocast: 2020 – The year of digital taxation
Podcast: State Taxation of Digital Health Products
Videocast: Sutherland SALT Scoreboard – 2nd Quarter Highlights
State and local taxes impact almost every taxpayer, and developments in any one jurisdiction can be frequent and sometimes confusing. ln this newsletter edition, we will briefly summarize selected state and local tax (SALT)...more
This alert from Verrill’s Private Clients & Fiduciary Services Group highlights the latest changes to the income tax and transfer tax landscape. The alert addresses the SECURE ACT 2.0, federal and state transfer tax updates...more
In the final day of the 2020 session, the Iowa legislature passed a bill that enacted several changes to Iowa tax laws. This post addresses several miscellaneous changes made to the tax laws that are effective immediately....more
On December 16, the Internal Revenue Service (IRS) and the Treasury Department issued proposed regulations... that provide some good news and needed clarification for C corporations, individuals, and S corporations and other...more
As 2019 comes to a close, while most people are busy making holiday plans, dutiful tax advisors and financial planners are burning the midnight oil to minimize their clients’ tax bills that will be due in a few short months....more
In 2019, the Tax Cuts and Jobs Act (the Act) and its resulting tax reform continued to dominate the planning landscape. As outlined in our 2018 Year-End Estate Planning Advisory, the Act made significant changes to individual...more
The Tax Cuts and Jobs Act of 2017 limited the state and local taxes paid deduction available to individual taxpayers to $10,000. The deduction is most notably taken by Oklahomans on their federal tax return to deduct state...more
Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of July 29 – August 2, 2019. July 30, 2019: The IRS issued a list of answers to frequently asked...more
Now that the dust has settled following the issuance of the final “SALT cap workaround” regulations by the Treasury Department, here’s a summary of those regulations, the IRS guidance issued in connection with the final...more
Sometimes the law of unintended consequences is difficult to correct after the fact. The most recent example may be the 2017 Tax Cuts and Jobs Act’s $10,000 annual limitation on state and local tax deductions claimed by...more
The Child Care Contribution Tax Credit (the “CCTC”) provides a valuable tax credit against a taxpayer’s Colorado state income tax. The credit equals 50% of the amount of a contribution made to a qualifying Colorado charitable...more
Federal Transfer Taxes - The Internal Revenue Service has announced the annual inflation adjustments for the 2019 tax year... Federal unified gift and estate tax exclusion increasing to $11,400,000: As of January 1,...more
The United States Treasury Department and the IRS issued Prop. Reg. §1.170A-1(h)(3) (the “Proposed Regulations”) in late August, in response to state legislation proposed after the enactment of limitations on state and local...more
We recently wrote on the new proposed regulations addressing the availability of charitable deductions when taxpayers receive or expect to receive corresponding state or local tax credits for contributions. The proposed...more
On August 23, 2018, the U.S. Department of the Treasury proposed a “rule on the federal income tax treatment of payments and property transfers under state and local tax credit programs [that] would prevent charitable...more
The Treasury Department recently issued proposed regulations addressing the availability of charitable deductions when taxpayers receive or expect to receive corresponding state or local tax credits for contributions. The...more
The IRS proposed regulations (the Proposed Regulations) on August 23, 2018, that would largely block state efforts to circumvent new limitations on income tax deductions for state and local taxes and would affect many current...more
The Tax Cuts and Jobs Act (TCJA) will have a significant impact on estate planning and related aspects, such as charitable giving. Even though the TCJA reduces tax incentives for making charitable donations for some people,...more
In This Issue: - Charitable giving in a post-TCJA world: What you need to know in the wake of the new tax law - Understanding the contents of a will - Should a tax apportionment clause be in your estate plan? - ESTATE...more
The sweeping changes created by the federal Tax Cuts and Jobs Act (“TCJA”) has resulted in some states enacting their own legislation in response to the federal tax reform. On May 31, 2018, Connecticut signed into law a bill...more
Yesterday, the IRS issued Notice 2018-54 and an accompanying news release stating that proposed regulations will be issued addressing the deductibility of state and local tax payments for federal income tax proposes....more
You may be happy that a refund is coming, or you may be steamed at the amount of taxes you had to pay. Regardless, the experience you had for the 2017 tax season likely will be significantly different from the 2018 tax...more
On May 4, New Jersey Governor Phil Murphy signed into law a provision that attempts to bypass the GOP tax law’s cap on the state and local tax deduction (SALT), which imposes a $10,000 federal limit on state and local tax...more
The recent passage of the state’s budget, which took effect on April 1, 2018, aims to provide relief to the middle class to combat the change in federal tax law. New York is making a concerted effort to protect...more
The 2017 Federal Tax Reform Act contains a provision that generally limits the annual income tax deduction for state and local income and property taxes to $10,000. In reaction to this, states and localities have been...more