News & Analysis as of

Business Taxes Tax Penalties

McDermott Will & Emery

Weekly IRS Roundup June 5 – June 9, 2023

McDermott Will & Emery on

Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of June 5, 2023 – June 9, 2023...more

Schwabe, Williamson & Wyatt PC

Oregon CAT: Oregon Department of Revenue Addresses Good Faith Effort Standards for Penalty Waivers for Underpayments of Estimated...

On April 24, 2020, Governor Brown directed the Oregon Department of Revenue (“DOR”) to refrain from assessing underpayment charges against taxpayers who do not pay at least 80% of their quarterly payment based on their total...more

Lowndes

Tax Court Strikes a Blow to Medical Marijuana Industry, Although Dissents Offer Some Hope

Lowndes on

As more and more states are allowing legal use of marijuana, medical marijuana businesses are faced with large tax bills because of marijuana’s continued classification as a Schedule I controlled substance under federal law. ...more

Foster Garvey PC

School is Back in Session and the CAT is Among the Most Popular Courses

Foster Garvey PC on

What We Learned from one of the Oregon Department of Revenue’s Town Hall Meetings - Over the past few months, we have written extensively on the blog about Oregon’s new Corporate Activity Tax (the “CAT”). As announced in...more

McDermott Will & Emery

Weekly IRS Roundup September 9 – 13, 2019

McDermott Will & Emery on

Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of September 9 – 13, 2019. September 9, 2019: The IRS released a revision to its Internal Revenue...more

Rosenberg Martin Greenberg LLP

What are some of the monetary penalties and other consequences of failing to properly report my foreign real estate and other...

Depending upon how foreign real estate is owned and/or controlled, a number of different tax reporting regimes may be implicated.  Each of these has its own corresponding penalties and generally applies to United States...more

Rosenberg Martin Greenberg LLP

The Maryland Comptroller is auditing my business regarding sales and use tax reporting. Can I be held personally liable for those...

Yes. If the Comptroller finds your business liable for sales and use tax, then you could be held personally liable for the tax, interest, and penalties assessed. Maryland law extends personal liability for sales and use tax...more

Eversheds Sutherland (US) LLP

Thanksgiving dinner arrives early – New Jersey serves up some amnesty dessert with some penalty turkey

New Jersey launched its tax Amnesty program on November 15, 2018. The program runs through January 15, 2019. Here are the top things you need to know about the program...more

Lowndes

Tax Court Decision Another Blow to Medical Marijuana Industry

Lowndes on

The recent Tax Court decision, Alterman v. Commissioner, struck yet another tax blow against the growing medical marijuana industry. ...more

Foster Garvey PC

Decoding the Tax Cuts and Jobs Act – Part IV: The IRC § 199A Deduction for Qualified Business Income—the Devil Is in the Details...

Foster Garvey PC on

BACKGROUND - The Tax Cuts and Jobs Act (“TCJA”) adopted a new 20% deduction for non-corporate taxpayers. It only applies to “qualified business income.” The deduction, sometimes called the “pass-through deduction,” is...more

Schwabe, Williamson & Wyatt PC

CPA Shoptalk: 8 Takeaways

On January 10th, 11th and 18th our tax attorneys ?hosted a "CPA Shoptalk" seminar in ?Portland, Vancouver and Bend. Below are ?some key takeaways to consider... 1. Partnership Audit Rules Post-TEFRA - The Balanced...more

Schwabe, Williamson & Wyatt PC

Tax Reform: What Does the Tax Cuts and Jobs Act Mean for the Transportation, Ports and Maritime Industry?

The Tax Cuts and Jobs Act of 2017 (the “Act”) was signed into law by President Donald Trump on December 22, 2017. The Act changes many provisions of the Internal Revenue Code, from individual and business provisions, to...more

Schwabe, Williamson & Wyatt PC

Tax Reform: What Does the Tax Cuts and Jobs Act Mean for the Healthcare Industry?

The Tax Cuts and Jobs Act of 2017 (the “Act”) was signed into law by President Donald Trump on December 22, 2017. The Act changes many provisions of the Internal Revenue Code, from individual and business provisions, to...more

Schwabe, Williamson & Wyatt PC

Summary of Tax Cuts and Jobs Act

The Tax Cuts and Jobs Act of 2017 (the “Act”) was signed into law by President Donald Trump on December 22, 2017. The Act changes many provisions of the Internal Revenue Code, from individual and business provisions, to...more

Burr & Forman

The IRS Has a Lien Against Me: What Do You Do? Tax Lien Release and Discharge (Part 6)

Burr & Forman on

Where an individual or business owes IRS taxes, Congress has given the IRS a tax lien against all the assets of the taxpayer. The lien covers real estate, homes, furniture, cars, investments, and nearly everything an...more

Burr & Forman

Currently Not Collectible Taxes: What Do You Do? (Part 4)

Burr & Forman on

If an individual or business owes federal taxes and does not have the current ability to pay these taxes, the IRS can consider placing the account into “currently not collectible” (CNC) status. If placed in CNC status, a...more

Burr & Forman

Tax Payment Plans: What Do You Do? (Part 3)

Burr & Forman on

If an individual or business owes federal taxes and does not have the current ability to pay these taxes, the IRS can “seller-finance” and offer a payment plan with the taxpayer. The primary benefit of a payment plan is that...more

Pierce Atwood LLP

New Hampshire Lowers Tax Rates, Creates Amnesty and Voluntary Disclosure Programs

Pierce Atwood LLP on

After lengthy negotiations between legislators and Governor Maggie Hassan, New Hampshire enacted significant tax changes, including a cut to business tax rates, an increase in the research and development tax credit, and the...more

18 Results
 / 
View per page
Page: of 1

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
- hide
- hide