In the midst of our busy season, we have come across a recurring issue with Pennsylvania RCT-101 Corporate Tax Reports which could lead to a tax due notice for companies with zero apportionment in the state.
For decades, employers have relied on IRS policy that says when meals are provided for “the convenience of the employer,” the value of the meal is not taxable income.
The IRS will strike down transactions among related parties that lack economic outlay. At least two recent US Tax Court cases are illustrative of the issue.
On August 26, Burger King announced that it entered into an agreement to acquire Tim Hortons, Inc., the Canadian coffee-and-doughnut chain, in a transaction that will be structured as an “inversion” (i.e., Burger King will become a subsidiary of a Canadian parent corporation).
When times get desperate and tax liabilities pile up – filing for bankruptcy is an option many people consider. Taxes are “dischargable” in bankruptcy, but there are important rules you need to know.
If you earn your living as an attorney working with and around private and charitable trusts, it’s probably a good idea to have some sense of how large the “market” is for what you do and what your future prospects look like.
The IRS recently released Notice 2014-46 (the Notice) which provides welcome guidance to tax equity investors and developers on the construction of wind, geothermal, biomass, landfill gas and certain hydropower and marine hydrokinetic energy projects for purposes of qualifying for the section 45 renewable electricity production tax credit (PTC), or the section 48 investment tax credit (ITC) in lieu of the PTC.
Must Reads for Your Summer Leisure – New York Hits the Shore with a Wave of Sales Tax Bulletins and Advisories
Each year the joy of Summer seems to more quickly pass into the demands of the Fall. Perhaps your summer, like mine, is a coveted time to catch up on non-technical reading.