Taxes
Wyoming Rules That Sale of Business Assets Was Subject to Sales Tax
While most states provide a sales tax exemption for sales of business assets, the specific language of these exemptions differs…
Tennessee Issues Sales Tax Guidance on Car Subscription Services
In today’s economy there are subscription services for just about anything, including cars, and a Tennessee letter ruling highlights some…
Illinois Concludes that Receipts from Deemed Sale of Assets is Excluded from the Sales Factor
When selling a business, the receipts from the sale of assets can have a significant impact on the sales factor…
Uber Eats is a Marketplace Facilitator….Are You?
Almost as many states impose sales tax obligations on marketplace facilitators as they do on businesses with economic nexus, and…
Three Things You Need to Know About Opportunity Zone Tax Incentives with New Developments
By: Ross Boardman, Angela Brown, and Steven Gluck While the enactment of the TCJA and its stemming tax consequences have…
New In-Person Meetings with Revenue Officers Aim to Encourage Compliance… But What Are the Risks?
By: Mitchell Kopelman, Partner-in-Charge, Tax and Maggie Crow, Senior Technical Writer, R&D Tax Credit Services. On Nov. 15, 2019, the…
IRS Tax Notices 6173, 6174, and 6174-A, What They Mean and What To Do.
Did you receive the IRS tax notice 6174, 6174A or 6173 in connection with your virtual currency transactions? If you…
IRS Releases New Guidance on Taxability for Certain Virtual Currency Transactions
Pay close attention, cryptocurrency investors: on Oct. 9, 2019, the IRS issued Revenue Ruling 2019-24 and 43 Questions and Answers,…
IRS Aims to Expose Cryptocurrency-related Income with New Question on Form 1040
Earlier this month, the IRS released the first guidance in five years on the taxability for virtual currency transactions, including…
Factor 2020 Cost-of-Living Adjustments into your Year-End Tax Planning
The IRS recently issued its 2020 cost-of-living adjustments. With inflation remaining largely in check, many amounts increased slightly, and some…