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Income Taxes › Tax Assessment

Income taxes are taxes that are collected on the individual earnings of persons or entities. Depending on the jurisdiction, income taxes are calculated and collected in a variety of ways. Some tax systems collect... more +
Income taxes are taxes that are collected on the individual earnings of persons or entities. Depending on the jurisdiction, income taxes are calculated and collected in a variety of ways. Some tax systems collect income taxes based on a progressive scheme, while others may utilize a proportional or regressive framework. less -
Bilzin Sumberg

Playing Battleship with the IRS: Assessing the Damages

Bilzin Sumberg on

In a prior post, I discussed the dangers of playing Battleship with the IRS. Recently, taxpayers made a move and scored a hit with the Tax Court’s  recently issued decision in Alon Farhy v. Commissioner, 160 T.C. No. 6 (April...more

Freeman Law

Taxpayers’ Failure to File Form 3520 and Form 3520-A Results in Extended Statute of Limitations Period: the Cautionary Tale of...

Freeman Law on

In the federal income tax world, there are effectively two functions within the Internal Revenue Service (“IRS”).  First, the IRS examines tax years and tax returns to determine whether the taxpayer has reported the correct...more

A&O Shearman

New and increased investigation possibilities for the Belgian tax authorities as of 2023

A&O Shearman on

Over the last few months, the Belgian legislator has enacted new measures that will expand the tax authorities' investigative powers from 2023 onwards. These measures include longer and new tax assessment periods, as well as...more

Kaufman & Canoles

Drug Tax (Part II): Offers in Compromise to Resolve Unauthorized Substance Tax Assessments

Kaufman & Canoles on

This blog has previously addressed frequently asked questions associated with unauthorized substance tax assessments in North Carolina. Unauthorized substance taxes are levied by the State in response to drug trafficking...more

Keating Muething & Klekamp PLL

Business v. Nonbusiness Income: Categorizing Proceeds from the Sale of Equity Interests

Keating Muething & Klekamp PLL on

Tax planning is often a vital consideration in an exit strategy for business owners. While most business advisors factor in federal income tax consequences when analyzing transaction structures, state income tax consequences...more

Freeman Law

How Long Can the IRS Levy on Social Security Benefits?

Freeman Law on

To levy on Social Security benefits, the IRS generally issues Form 668-W to the Social Security Administration (“SSA”). After receipt of the Form 668-W, Notice of Levy on Wages, Salary, and Other Income, SSA will withhold...more

Gray Reed

Statute of Limitations in Tax Cases – The Basics

Gray Reed on

What is the Statute of Limitations? - The Internal Revenue Code limits the time in which the government may assess tax. There are two civil statutes of limitations.  The first is the period during which the IRS can assess...more

Gray Reed

The Basics of IRS Assessments

Gray Reed on

An assessment results when the liability of a taxpayer is recorded in the office of the Secretary of the Treasury.  The assessment establishes the right of the IRS to collect the tax. ...more

Morgan Lewis

Sovereign Wealth Funds Update: Tax Aspects of Private Fund Investments: Selected US, EU, and UK Considerations in the Current...

Morgan Lewis on

Despite the market disruption caused by the COVID-19 pandemic, sovereign wealth funds continued to make significant capital commitments to private funds during 2020, on a global basis. As the world emerges from the pandemic,...more

Foley & Lardner LLP

Don’t Leave Money on the Table: Beating the Louisiana Department of Revenue at its own Game

Foley & Lardner LLP on

Tax season is well underway, and after a tumultuous year in 2020, businesses may be looking to save money any way they can. Last year presented a different, though equally difficult, set of challenges for state and local...more

Freeman Law

The Appeals Process for Property Tax Appraisals

Freeman Law on

Property tax, or ad valorem tax, is a fact of life for people and businesses in Texas. As one of the few states in the United States without income tax, Texas counties rely on property tax as a source of revenue to pay for...more

Burr & Forman

SCDOR Issues New Guidance on South Carolina Tax Appeal Procedures

Burr & Forman on

The South Carolina Department of Revenue (“DOR”, “SCDOR”, the “Department”) recently issued SC Information Letter #20-22 in which it released a series of helpful “Information Guides” concerning updated and specific...more

Buckingham, Doolittle & Burroughs, LLC

Earth-shattering tax liability means doomsday for vendors: Don’t put your personal net worth at-risk

Buckingham, Doolittle & Burroughs, LLC on

Vendors selling out of state but not collecting sales tax are on a path to suffering severe financial loss. The tax liability could be astronomical – enough to devastate a business – as high as 10% or more of total sales for...more

Bradley Arant Boult Cummings LLP

Impact of Check-the-Box Conformity on State Tax Appeal Procedures – Who’s the Real Taxpayer Here? - SALT Alert: Alabama Edition

Bradley Arant Boult Cummings LLP on

In a case of first impression by an Alabama appellate court, the Alabama Court of Civil Appeals recently considered the appeal of the Alabama Department of Revenue (ADOR) of an adverse circuit court ruling involving whether...more

Downs Rachlin Martin PLLC

Vermont Legislative Update 5-4-18 - An analysis from DRM's Government & Public Affairs Team

Downs Rachlin Martin PLLC on

Medical Monitoring Bill Moves On - The House Judiciary Committee sent a version of S.197 to the Senate floor that eliminates the Senate-passed provisions creating strict, joint and several liability for release of harmful...more

Burr & Forman

South Carolina Tax Litigation Update: First Quarter 2018

Burr & Forman on

There were several notable state tax opinions issued by the South Carolina Administrative Law Court, Court of Appeals, and Supreme Court in the 1st quarter of 2018. A number of tax cases are also pending before the Court of...more

Proskauer - Tax Talks

IRS Issues Taxpayer Advisory on Prepayment of 2018 Property Taxes

Proskauer - Tax Talks on

The IRS announced yesterday, in IR 2017-210 (the “Advisory”), that state property taxes must be “assessed” in 2017 in order for such taxes to be prepaid in calendar year 2017 and therefore deductible in 2017. The Advisory...more

Sheppard Mullin Richter & Hampton LLP

Congress Passes Final Tax Reform Bill: U.S. Tax Reform: The Current State of Play

Sheppard Mullin Richter & Hampton LLP on

With the affirmative vote in the House today, both Houses of Congress have now passed a final version of the Tax Cuts and Jobs Act, clearing the legislation for President Trump’s signature. President Trump is widely expected...more

Blake, Cassels & Graydon LLP

Some Changes Ahead for the Tax Objection and Appeal Process of the Canada Revenue Agency

Blake, Cassels & Graydon LLP on

On November 29, 2016, the Auditor General of Canada released the 2016 Fall Reports, including “Income Tax Objections”, regarding the Canada Revenue Agency’s (CRA) management of income tax objections. This bulletin provides an...more

Burr & Forman

South Carolina Department of Revenue Audit Appeals

Burr & Forman on

Once the South Carolina Department of Revenue (SCDOR) completes an audit of a taxpayer, if there are any proposed adjustments and additional taxes SCDOR seeks, it will issue to the taxpayer a proposed notice of assessment...more

Faegre Drinker Biddle & Reath LLP

Indiana Tax Court declines to bring hammer down on Taxpayer who failed to timely respond to Request for Admissions in Income Tax...

Faegre Drinker Biddle & Reath LLP on

On September 23, 2016, an Indiana taxpayer escaped dismissal of its income tax appeal when the Tax Court allowed it to withdraw harmful deemed admissions. Thor Industries challenged the 2008 to 2010 adjusted gross income tax...more

Faegre Drinker Biddle & Reath LLP

Supreme Court decides Comptroller of the Treasury of Maryland v. Wynne

Faegre Drinker Biddle & Reath LLP on

On May 18, 2015, the U.S. Supreme Court decided Comptroller of the Treasury of Maryland v. Wynne, (No. 13-485), holding that Maryland’s personal-income-tax scheme, which does not give state residents a full credit for income...more

McDermott Will & Emery

D.C. Proposes Law to Allow Indefinite Suspension of Limitation Period for Assessment and Collection

McDermott Will & Emery on

The Fiscal Year 2016 Budget Support Act of 2015 (BSA), introduced by the Washington, D.C. Council at the request of Mayor Muriel Bowser on April 2, 2015, contains a subtitle (see Title VII, Subtitle G, page 66-67) that would...more

Bradley Arant Boult Cummings LLP

Alabama Legislative Update—Rounding the Corner in the Last Lap: An Update on Pending and Recently Enacted Tax Legislation

Bradley Arant Boult Cummings LLP on

The 2014 regular session of the Alabama legislature has been underway for over two months and is nearing its end. The legislature is off this week for Spring Break, then returns on Tuesday, April 1, for three final meeting...more

Baker Donelson

Spotlight on Mississippi: Assessment Notices for 2012 Individual Income Tax Season Issued on July 20, 2013

Baker Donelson on

The Mississippi Department of Revenue (Department) recently announced that individual income tax Assessment Notices for tax year 2012 were issued on July 20, 2013....more

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