Williams Mullen's COVID-19 Comeback Plan: Tips for Virginia Real Estate Assessment Appeals in a COVID-19 Environment
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
Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of August 5 – 9, 2019. ...more
Guernsey SPV not resident in the UK - In Development Securities plc and others v HMRC, the Upper Tribunal (UT) has overturned the prior discussion of the First-tier Tribunal (FTT) in favour of the taxpayer in an important...more
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
On May 31, 2019, the Treasury Inspector General for Tax Administration (TIGTA) released a report indicating that changes may be in the works regarding assertion of accuracy-related penalties in examinations handled by the IRS...more
Watch All of the Company’s Mailboxes for a New Round of Tax Assessments - Another wave of Internal Revenue Service (“Service”) assessments of the employer shared responsibility tax (a/k/a pay or play) were recently released....more
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
In a ruling with tax implications for U.S. corporations with foreign subsidiaries, the U.S. Tax Court has held that transactions between a U.S. parent company and its controlled foreign corporations constitute “United States...more
As our state faces a $1.6 billion budget shortfall, lawmakers are considering a number of ways to raise taxes to bridge the gap. One current proposal asks Oregonians to reconsider Measure 50, their 1990s-era property tax...more
The Pennsylvania Department of Revenue has issued detailed rules for the application and sale of various Pennsylvania tax credits. Corporation Tax Bulletin 2014-04 replaces Corporation Tax Bulletin 2011-03. The Bulletin...more
In This Issue: PA Governor Proposes Corporate Tax Cuts; Add-Back Legislation Reintroduced; PA Supreme Court Issues Business/Nonbusiness Income Decision; Philadelphia Property Reassessments; Commonwealth Court Addresses...more