News & Analysis as of

Tax Penalties

Tax Court Reopens Record To Admit Penalty-Approval Forms

by Fox Rothschild LLP on

In Rajagopalan v. Commissioner, Judge Holmes confronted what he called the Chai ghoul. See Rajagopalan v. Commissioner, Docket No. 21394-11, Order, Dec. 20, 2017. In Chai v. Commissioner, the Second Circuit held that the...more

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

by Garvey Schubert Barer 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

OTA & Travel Distribution Update - China shuts down Marriott's website & mobile app; Airbnb hits the jackpot in Las Vegas; Ctrip's...

by Garvey Schubert Barer on

This week’s OTA & Travel Distribution Update for the week ending Friday, January 12, is below. This week’s Update features stories predominantly on OTAs....more

New Tax Overhaul and Government Funding Measures: What's in It for Health Care?

by Baker Ober Health Law on

In the week before Christmas, Congress approved and President Trump signed into law the final Republican tax overhaul bill. While primarily focused on individual and business tax cuts and reform, the new tax bill taking...more

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

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

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

Pennsylvania To Begin Issuing Penalty Assessments To Taxpayers Who Ignored 2017 Amnesty Program

by Fox Rothschild LLP on

The Pennsylvania Department of Revenue this week will start mailing “non-participation penalty assessments” to delinquent taxpayers who failed to participate in the 2017 Tax Amnesty program, Revenue Secretary Dan Hassell...more

Texas Joins The Amnesty Wave

by Akerman - SALT Insights on

Texas has joined the growing list of states providing amnesty programs for taxpayers with unreported tax liabilities. Texas announced a temporary amnesty program that will commence on May 1, 2018 and run through June 30,...more

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

Tax Reform Changes to Healthcare

by Holland & Knight LLP on

Following a final vote in the U.S. House of Representatives on Wednesday morning, Dec. 20, 2017, Congress sent the Tax Cuts and Jobs Act (H.R. 1) to President Donald Trump's desk. In addition to extensive revisions to the tax...more

Federal Employment Taxes: Employee-Independent Contractor Issues (Part 5)

by McNair Law Firm, P.A. on

Section 530 Relief - Employers that have workers which the employer classifies as “independent contractors” (Form 1099) risk having these workers reclassified by the IRS as employees. This is a major audit area for the...more

Key Considerations for Employers That Receive a Letter 226-J from the IRS

by Holland & Knight LLP on

The Internal Revenue Service (IRS) has started issuing the first wave of Letters 226-J informing applicable large employers (i.e., those employers with 50 or more full-time equivalent employees) that they may be liable for an...more

Franchise Tax Board Penalties: Accuracy-Related Penalties, Part III: Substantial Misstatements

by Moskowitz LLP on

We continue our discussion of Franchise Tax Board (FTB) accuracy-related penalties with penalties relating to substantial understatements or misstatements of income and asset values....more

Franchise Tax Board Penalties: Accuracy-Related Penalties, Part II: Negligence

by Moskowitz LLP on

The penalties for negligent errors on your tax return can be high, but they pale in comparison to those imposed if the government (federal and/or state) concludes that your mistakes were intentional. In this post, we are...more

Franchise Tax Board Penalties: Accuracy-Related Penalties, Part I: The Basics

by Moskowitz LLP on

It’s not enough to just file your tax returns and pay some amount to the government – the penalties for incorrect returns can be as significant as those for late filing and payment. There are quite a few accuracy-related...more

Memo to Massachusetts Employers for 2018 and 2019: How Not to Comply with the EMAC New Rules

In a November 20, 2017 post, we reported on Massachusetts’ passage of H. 3822, “An Act Further Regulating Employer Contributions to Health Care,” (the “Act”), the purpose of which is to shore up the finances of the...more

Federal Employment Taxes: Employee-Independent Contractor Issues (Part 4)

by McNair Law Firm, P.A. on

IRS Voluntary Worker Classification Settlement Program - Employers that have workers which the employer classifies as “independent contractors” (Form 1099) risk having these workers reclassified by the IRS as employees....more

‘Tis the Season for ACA Penalties

by Polsinelli on

After several years of uncertainty surrounding enforcement of the Patient Protection & Affordable Care Act of 2010’s so-called “employer mandate,” the Internal Revenue Service (IRS) has begun assessing penalty notices for the...more

November 2017: The Top 14 Labor And Employment Law Stories

by Fisher Phillips on

It’s hard to keep up with all the recent changes to labor and employment law. While the law always seems to evolve at a rapid pace, there have been an unprecedented number of changes each month in 2017. November was no...more

Watch Your Mail: IRS Begins Collection of Employer Mandate Penalties

by Foley & Lardner LLP on

It’s official. The IRS has finally begun the process of collecting penalties under the Affordable Care Act’s (“ACA”) employer shared responsibility provisions, better known as the “employer mandate.” The IRS has started...more

Brace for Impact: IRS Says ACA Employer Mandate Penalties Coming

by Fisher Phillips on

The IRS quietly revised its FAQ on employer shared responsibility provisions under the Affordable Care Act (ACA) in November, adding a bombshell statement that it plans to inform employers of their “potential liability for an...more

IRS Letter 226J: Employer ACA Penalty Assessments and IRS Enforcement

by Cohen & Grigsby, P.C on

Over the past year, the Patient Protection and Affordable Care Act (the “ACA”) has been the center of fierce political debate. Caught in the crosshairs has been the fate of the employer shared responsibility provisions, which...more

IRS Begins Issuing ACA Employer Mandate Penalty Notices

Recently, the Internal Revenue Service (IRS) indicated that it would begin enforcing the Affordable Care Act (ACA) Employer Shared Responsibility provisions (commonly known as the “Employer Mandate”). Last week, the IRS...more

Federal Employment Taxes: Penalties and Interest (Part 2)

by McNair Law Firm, P.A. on

Employers that pay wages and other forms of compensation to their employees must comply with federal tax return filing and payment/deposit requirement. Employers that receive services from non-employee contractors and which...more

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