On March 21, 2020, in response to the coronavirus pandemic, the U.S. Treasury Department and Internal Revenue Service announced that the federal income tax filing and payment deadline has been extended to July 15, 2020. The...more
The federal Opportunity Zone (OZ) program, created in December 2017, has been a major topic of discussion for investors, businesses, and project developers alike. It seems, however, that the utilization of the OZ program has...more
11/7/2018
/ Capital Gains ,
Community Development ,
Economic Development ,
Investment Funds ,
Investment Opportunities ,
Low-Income Issues ,
Opportunity Zones ,
Public Finance ,
Real Estate Development ,
State and Local Government ,
Tax Cuts and Jobs Act ,
Tax Deferral ,
Tax Incentives ,
Tax Reform
The Tax Cuts and Jobs Act of 2017 created a new economic development program that encourages long-term investments in low-income areas, so-called “Opportunity Zones,” by offering tax deferral for capital gains reinvested in...more
5/23/2018
/ Community Development ,
Economic Development ,
Investment Funds ,
Low-Income Issues ,
New Legislation ,
New Market Tax Credits ,
Opportunity Zones ,
Public Finance ,
State and Local Government ,
Tax Cuts and Jobs Act ,
Tax Reform ,
Trump Administration
The IRS recently announced that it is ending its Offshore Voluntary Disclosure Program (OVDP) on September 28, 2018. ...more
On Thursday, March 1, Alec Porteous, the Commissioner of the Maine Department of Administrative and Financial Services, and Dr. Michael Allen, Associate Commissioner for Tax Policy for the Maine Department of Administrative...more
3/9/2018
/ Governor LePage ,
Legislative Agendas ,
Local Taxes ,
New Legislation ,
Proposed Legislation ,
State and Local Government ,
State Taxes ,
Tax Code ,
Tax Cuts and Jobs Act ,
Tax Exemptions ,
Tax Rates ,
Tax Reform ,
Trump Administration
Motor Vehicle Use Tax is Constitutional -
Regency Transportation, Inc. v. Commissioner of Revenue -
MA Supreme Judicial Court No. SJC-11873 (January 6, 2016) -
The Massachusetts Supreme Judicial Court has held...more
Owners of commercial, residential or investment property in Rhode Island who wish to challenge their property tax assessment(s) are reminded that significant deadlines are approaching that require immediate attention. The...more
In a major victory for the renewable energy industry, Congress recently passed, and the President signed into law, two significant pieces of tax legislation, the Protecting Americans from Tax Hikes (PATH) Act and the...more
Congress recently passed two significant pieces of tax legislation: (1) the Protecting Americans from Tax Hikes (PATH) Act, which extended or made permanent various expired or expiring tax provisions, and (2) the...more
Beginning March 16, 2015, the Massachusetts Department of Revenue is offering an aptly described “limited” amnesty program for taxpayers with certain tax liabilities. Technical Information Release 15-2....more
Maine Governor Paul LePage has proposed a major restructuring of Maine’s tax system as part of his FY 2016-2017 budget submission. Generally, the governor’s proposal decreases the state’s reliance on income tax revenue and...more
Averting a potential government shutdown, the Legislature voted to override Governor LePage’s veto of the biennial budget....more