Tax Refunds

News & Analysis as of

More Post-Windsor Tax Guidance: IRS Issues Letter Outlining Steps for Individuals to Obtain Tax Refunds for Same-Sex Spousal...

On June 27, 2014, the IRS published a letter outlining the steps taxpayers should take in order to obtain a refund for taxes paid on the value of employer-sponsored health coverage provided to an employee’s same-sex spouse....more

Out-of-State Companies Might Be Owed Tax Refunds Under Michigan’s Multistate Tax Compact Election Decision

A Multistate Tax Compact (MTC) election is applicable to both the net income base and modified gross receipts base of the Michigan Business Tax (MBT), the Michigan Supreme Court ruled in International Business Machines v....more

Supplemental Interagency Guidance on Tax Allocation Agreements

The federal bank regulators recently issued additional guidance on intercompany income tax allocation agreements between holding companies and their depository institution subsidiaries. Intended to clarify the ownership of...more

French 3 Per Cent Tax on Distributions: French Subsidiaries of Foreign Companies Should Consider Claiming a Refund

Scope of The 3 Per Cent Tax - The 3 per cent tax is levied on dividend distributions and/or deemed dividend distributions by French companies, French permanent establishments and other French entities that are liable...more

Oklahoma Capital Gain Deduction Upheld by Oklahoma Supreme Court

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

Recent Sentences for Federal Tax Crimes in 2014 – Part 3

Today we conclude our review of recent sentences imposed in federal tax crime cases in 2014. In our two previous posts here and here, we reviewed sentences relating to Foreign Bank Account, Tax Evasion, Employment Tax, False...more

Choice of Forum in Federal Excise Tax Refund Cases

To challenge an administrative determination and assessment of federal excise tax, taxpayers in refund cases have a choice of two different federal courts to bring an action: the U.S. federal district court and the U.S....more

CFPB sends complaint solicitation as IRS refund check stuffer

As it reportedly did last year, we understand the CFPB is again this year soliciting consumer complaints through the use of a stuffer sent with IRS refund checks mailed to consumers. The stuffer indicates that it is...more

Employers Who Paid FICA Taxes on Severance Pay in 2010 Should Consider Filing Protective Refund Claims by April 15, 2014

The Supreme Court has yet to issue a ruling in the Quality Stores case to decide whether supplemental unemployment compensation benefit payments—a term which includes severance pay—should be subject to FICA taxes. We have...more

Pennsylvania Tax Developments - A Reed Smith Quarterly Update (February 24, 2014)

This is a brief update on recent Pennsylvania tax developments. It is intended to provide an overview of issues and cases to watch, as well as administrative and legislative developments....more

The Stimulus Shall Continue: IRS Gives OK to Current Refundings of Recovery Zone Facility Bonds

The Internal Revenue Service has announced in Notice 2014-9 that current refunding issues of Recovery Zone Facility Bonds qualify as tax-exempt provided that the current refunding issue meets certain requirements. Generally,...more

Tax refunds and bankruptcy. Do they go together?

Now that it's the year 2014, are you expecting a refund on your taxes for 2013? If so, are you also thinking about filing bankruptcy? Let's see how that might work....more

Three Agencies Seek Comment on Joint Supplemental Guidance on Income Tax Allocation Agreements

On December 19, Fed, FDIC and OCC issued a statement seeking comment on supplemental guidance on income tax allocation agreements involving holding companies and insured depository institutions. ...more

Agencies Issue Proposed Guidance on Tax Allocation Agreements Between Insured institutions and Their Holding Companies

On December 19, banking agencies including the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation (FDIC) and the Office of the Comptroller of the Currency (collectively, the agencies)...more

Focus on Tax Controversy - December 2013

In This Issue: A Decade of Lessons Learned from State Tax False Claims Act Cases; Second Circuit Reaffirms Taxpayer’s Use of Protective Refund Claims; and Challenging Regulations After Mayo and Home...more

Credits for Overpaid Taxes Affirmed

A divided panel of the Commonwealth Court affirmed a decision below that taxpayers were entitled to credits for overpaid Philadelphia Business Privilege Tax, notwithstanding a three-year limit on the refund of taxes. City of...more

Sales Tax Refunds on Defaulted Credit Sales: Does Anyone Get a Refund?

James Susa analyzes the state tax statutory structures and major court decisions on bad debt deductions and concludes that in practice, the availability of such a deduction is limited in scope. Each state that imposes...more

The ERISA Litigation Newsletter; November 2013

In This Issue: - Labor and Employment and ERISA Class Actions After Wal-Mart and Comcast — Practice Points for Defendants (Part I – Commonality)* - Agencies Release Guidance on HRAs, FSAs, and Employer Payment...more

Treasury Department/IRS Issue Guidance Instructing Employers on How to Make Claims for FICA Refunds or Credits Post-Windsor

On June 26, 2013, in United States v. Windsor, the Supreme Court held that section 3 of the Defense of Marriage Act (DOMA) is unconstitutional. (For a discussion of the issues and holding in United States v. Windsor, please...more

Tax Refund Litigation Update: Court of Federal Claims Relies on “Substance Over Form” Doctrine to Recharaterize Transaction

A decision by the United States Court of Federal Claims originally filed under seal and reissued on October 23, 2013 evidences an important trend in the substance over form doctrine created by the courts to recharacterize...more

IRS Guidance on Employment and Income Tax Refunds on Same-Sex Spouse Benefits

Employers extending benefit coverage to employees’ same-sex spouses and partners should review their payroll procedures to ensure that such coverages are properly taxed for federal income and FICA tax purposes. Employers...more

Tax Deadlines Still in Effect, Despite Government Shutdown

The U.S. federal government shutdown does not alleviate the October 15 filing deadline or other upcoming filing and payment requirements. The current state of the government shutdown has many taxpayers questioning...more

Additional Post-Windsor Guidance – IRS Releases Optional Streamlined Procedures for Employers to Make Claims for Refunds or...

Continuing its implementation of the United States Supreme Court decision in U.S. v. Windsor, the Internal Revenue Service (IRS) recently issued Notice 2013-61, which provides guidance for employers to make claims for refunds...more

A FICA Refund for Employers? Supreme Court to Decide Whether FICA Obligations Extend to Severance Pay

As all employers know, wages paid to employees are subject to required withholdings and deductions for income taxes and employee contributions to Social Security and Medicare (which is commonly referred to in shorthand as...more

IRS Provides Special Rules for Refund of Employer-Paid Taxes Related to Imputed Income for Same-Sex Spouse Benefits

On September 23, the Internal Revenue Service released Notice 2013-61, which provides special rules for those making claims for refunds or adjustments of Federal Insurance Contributions Act (FICA) taxes and federal employment...more

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