2018 Inflation-Adjusted Amounts ModifiedThe IRS has modified certain previously released inflation-adjusted amounts. Generally, these new inflation-adjusted figures apply to tax years beginning in 2018 or transactions or events occurring in...
Virtual Currency Transactions: They Are ReportableThe IRS has reminded taxpayers that income from virtual currency transactions is reportable on their returns and that these transactions are taxable just like those involving any other property.Virtua...
IRS Ending Offshore Voluntary Disclosure ProgramThe IRS has announced it will begin to shut down the 2014 Offshore Voluntary Disclosure Program (OVDP). The program will close on September 28, 2018. Therefore, U.S. taxpayers with undisclosed foreign...
OPR Highlights Important Process ChangeThe IRS Office of Professional Responsibility (OPR) on March 6 issued an alert highlighting an important process change. The OPR has modified its investigation procedures to give practitioners an oppo...
New Withholding Calculator, W-4 ReleasedThe IRS has released a new withholding calculator, as well as a new version of Form W-4, Employee’s Withholding Allowance Certificate. The new withholding calculator will let employees check tha...
AZ - IRC conformity updatedArizona maintained the state's existing Internal Revenue Code (IRC) conformity date for post-2017 corporate and personal income tax purposes, but updated the conformity date for transaction privilege ...
DE - Taxpayers alerted to new refund scam// // The Delaware Division of Revenue (division) issued a press release alerting personal and corporate income taxpayers to a new scam involving fraudulent tax refunds being deposited into genuine ta...
FL - Department amends regulationsFlorida has amended a number of sales and use tax and administrative rules.Repossessed Merchandise and Bad DebtsSales and use tax Rule 12A-1.012, regarding repossessed merchandise and bad debts, is am...
IL - Appeal dismissed for lack of jurisdictionAn Illinois not-for-profit licensed life care facility's (taxpayer's) appeal from the circuit court's denial of a property tax general homestead exemption was dismissed because of lack of jurisdiction...
IN - Purchase of shotgun shells not exemptA stone and aggregate manufacturer's (taxpayer's) purchase of shotgun shells was not exempt from Indiana sales and use tax because the shells were not an integral part of the manufacturing process. Ge...
KS - Q2 transient guest tax rate change announcedAs of April 1, 2018, the city of Kechi, Kansas, begins imposing a transient guest tax at a rate of 6%. Transient Guest Tax Rates, Effective Dates, and Number of Active Accounts, Kansas Department...
KY - March 2018 tax alert issuedThe March Kentucky Tax Alert provides information about online tax payment options; bulk filing of withholding tax forms; and the 2018 tax calendar. The Kentucky Department of Revenue (depar...
LA - Denial of refund claim upheldA metal supplier's claim for a refund of Louisiana sales taxes paid on its commercial purchase of welding gases was dismissed because recent legislation (Act 9 of 2008) that excluded only commercial p...
MD - Taxpayers alerted to phone scamThe Maryland Department of Revenue has issued a news release alerting personal income taxpayers to a phone scam in which scammers call taxpayers to warn that they owe taxes and will face arrest if the...
NH - Internet sales tax fight announcedNew Hampshire Governor Chris Sununu and Attorney General Gordon MacDonald have announced that New Hampshire is joining the fight against internet sales tax. The state will argue to the U.S. Supreme Co...
OK - Cap on itemized deductions enactedFor tax years beginning after 2017, the amount of itemized deductions permitted on an Oklahoma personal income tax return is capped at $17,000.The following items are not subject to the cap:charitable...
SD - Educational scholarship credit expandedThe insurance premiums tax credit is expanded to include contributions to tribally controlled schools on a federal Indiana reservation. The contributions must be made to a scholarship granting organiz...
WV - Farm-to-food bank credit regulation adoptedWest Virginia adopted regulations that set forth the procedures and requirements for the farm-to-food bank credit. Farming taxpayers who donate edible agricultural products to nonprofit food programs ...
