News & Analysis as of

Tax Refunds

End and refund of the French 3% tax on distributions

by White & Case LLP on

The French Constitutional Court rules that the 3% contribution on distributions is unconstitutional - On 6 October, 2017, the French Constitutional Court, in its decision (n°2017-660 QPC), held that the 3% contribution on...more

Tax Refunds in South Carolina? Don’t Plan On (Much, If Any) Interest.

by Nexsen Pruet, PLLC on

One little known fact in South Carolina business and politics is that every year the South Carolina General Assembly uses a budget proviso to deny taxpayers interest that should be paid on tax refunds. Instead, the interest...more

MoFo New York Tax Insights - Volume 8, Issue 9

by Morrison & Foerster LLP on

Appellate Division Reverses Tribunal and Remits Case for Consideration of Sales Tax Refunds - The New York State Appellate Division, in a strongly worded opinion, reversed the decision of the Tax Appeals Tribunal denying...more

Baldwin County Circuit Court Dismisses ADOR’s Appeal in Moody

Two weeks ago, the Baldwin County Circuit Court entered an order dismissing the Alabama Department of Revenue’s (ADOR) appeal from the February 2017 decision by the Alabama Tax Tribunal in Moody v. Alabama Department of...more

Gross Receipts From Sales of Exported Goods Not Subject To Virginia BPOL Taxes

by Williams Mullen on

On August 24, 2017, the Supreme Court of Virginia issued a tax ruling that is favorable to Virginia taxpayers with international exports. As background, Virginia localities are permitted to impose the Business, Professional...more

Massachusetts Appellate Tax Board Denies Multiple Points of Use Sales Tax Refund Claims

by Reed Smith on

The Massachusetts Appellate Tax Board (“ATB”) has issued an order denying three sales tax refund claims involving multiple points of use (“MPU”) sourcing. In each case, vendors had filed refund claims arguing that their...more

Texas Data Thieves Sentenced To Prison For $1.8 Million Fraud Scheme

by King & Spalding on

On June 30, 2017, the U.S. Attorney’s Office for the Southern District of Texas announced the sentencing of two men convicted of conspiring to claim up to $1.8 million in fraudulent income tax refunds from the Internal...more

Forfeiture Case Based on Alleged Elaborate $230 Million Russian Laundering and Fraud Scheme to Settle

by Ballard Spahr LLP on

On the eve of trial this past Friday, the government announced an agreement to settle, subject to court approval, a major civil forfeiture action in the Southern District of New York. In the case, United States v. Prevezon...more

Wealth Management Update - May 2017

by Proskauer Rose LLP on

May Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intra-Family Loans and Split Interest Charitable Trusts - The May § 7520 rate for use with estate planning techniques such as CRTs, CLTs, QPRTs and GRATs...more

Update on Nonqualified Stock Options and Statutory Limitations on Refunds Claims

by Shipman & Goodwin LLP on

In Allen v. Commissioner, 324 Conn. 292 (2016), the Connecticut Supreme Court did not permit a Connecticut taxpayer to seek a refund in connection with a late-filed tax return because the return was filed more than three...more

Dutch Supreme Court refers questions on withholding tax refunds for foreign investment funds to CJEU

by DLA Piper on

The Dutch Supreme Court has referred preliminary questions on Dutch dividend withholding tax refunds for foreign investment funds to the Court of Justice of the European Union (CJEU). The Dutch Supreme Court wishes to clarify...more

IRS Asks Employers to Report Phishing Schemes

Every tax season seems to bring with it new attempts by criminals to fraudulently obtain tax refunds. One popular “phishing” scheme involves fraudulent emails that appear to be from a company executive seeking personal...more

IRS Issues Revised Requirements for Employers to Claim FICA Tax Refunds

by McDermott Will & Emery on

On March 20, 2017, the Internal Revenue Service (IRS) issued Revenue Procedure 2017-28, which provides guidance to employers on obtaining employee consents used to support a claim for credit or refund of overpaid taxes under...more

State and Federal Tax Law Developments Affect Same-Sex Couples and MA Residents with Out-of-State Real Estate

by Goodwin on

Recent changes in state and federal tax laws impact same-sex couples and any Massachusetts residents who own real estate in another state. Clients who may be affected by these changes should act soon to protect the...more

The New Jersey Litter Control Fee – Refund Claims Due March 15

by Reed Smith on

Taxpayers in, or making sales into, New Jersey may be subject to the New Jersey Litter Fee. Taxpayers with manufacturing activities have until March 15 to file refunds based on the “wholesaler-to-wholesaler” deduction....more

Employees Expecting Tax Refunds? So Are Your Hackers

by King & Spalding on

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

Client Alert: State Supreme Court Decision Creates Limited Tax Refund Opportunities

by Fraser Trebilcock on

Taxpayers who filed as, or were included as a member of, a unitary business group could qualify for a refund following a decision by the Michigan Court of Appeals that the Michigan Supreme Court chose to let stand on January...more

Statute of Limitations and Collections Process Against Executrix and Agent for Estate Tax Deficiency

United States v. Holmes - 2016 WL 4363398 (SD Tex. Aug. 16, 2016) Summary - Summary judgment was sought by both the taxpayers and the Government for an estate tax liability. The taxpayers contended that the...more

Privacy Tip #71 – It’s Tax Time and the Thieves are Out in Droves

Just when I thought everyone knew about the continued W2 schemes, where phishing emails are used to get company employees’ W2 forms so the thief can file a false tax return and get a refund, several additional clients have...more

Swart's Athwart California's Taxation of Out-of-State Corporations

by Nossaman LLP on

The California Franchise Tax Board (“FTB”) started 2017 with a setback as the Court of Appeal for the Fifth Appellate District held in Swart Enterprises, Inc. v. Franchise Tax Board that the FTB could not impose California’s...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

Municipalities Must Pay Refunds from Dissolved TIF Districts

by Franczek Radelet P.C. on

The Illinois Appellate Court recently upheld a trial court’s ruling that property tax refunds from a dissolved TIF District must be paid by the municipality, not by the other affected taxing agencies. The case, Village of...more

Higher Education, Exempt Organization & Governmental Financings - Tax Presentation

Qualified Equity - Allocation & Accounting Rules for Private Business Use - New Treasury Regulations regarding measurement and allocation of private business use (PBU) benefit universities that finance a...more

Texas Tax Ruling Favors Frac Trailer Owners

by Gray Reed & McGraw on

If you were able to keep your frac trailers from the clutches of your avaricious creditors during the past several unpleasant years, you could be in luck. Owners and lessors of frac trailers may be entitled to a refund for...more

PA Supreme Court Declares Portion of Slot Machine Tax Unconstitutional; Provides Possible Preview of Pending NOL Cap Case

by Reed Smith on

The Pennsylvania Supreme Court finds municipal share assessment unconstitutional. The Court held that the municipal share assessment, imposed on slot machine revenue, is a non-uniform progressive rate structure that violates...more

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