New Tax Withholding Estimator Tool Helps Employees and Self-Employed The IRS has reminded taxpayers that the new Tax Withholding Estimator tool includes a feature designed to make it simpler for employees who received self-employment income to accurately estimate the r...
Low-Income Housing Credit Relief Guidelines Provided for California The IRS has expanded relief provided in Rev. Proc. 2014-49, I.R.B. 2014-37, 535, and Rev. Proc. 2014-50, I.R.B. 2014-37, 540, to owners of qualified low-income housing projects and to issuers of exemp...
IRS Encourages Taxpayers to Develop Emergency Preparedness Plan The IRS has reminded taxpayers—whether individuals, organizations or businesses—to develop an emergency preparedness plan as the peak of hurricane season fast approaches.Taxpayers should p...
CAP Application Period Now Open The IRS announced the opening of the application period for its 2020 Compliance Assurance Process (CAP) program. Eligible new corporate applicants for CAP must (1) have assets of $10 million or more; ...
LA - Valuation of property remanded for recalculation For property tax purposes, the Louisiana Court of Appeal affirmed in part and reversed in part the district court’s decision because the district court erred in affirming the Louisiana Tax Commi...
MS - Amendments to dividend income regulation proposed The Mississippi Department of Revenue has proposed amendments to the corporate income tax regulation that governs dividend income. Among other changes, the proposed changes would:provide that dividend...
TX - Manager of company personally responsible to remit taxes The manager of a company (taxpayer) that operated two restaurants was held personally liable for the company’s Texas sales and mixed beverage tax. Under Texas law, an individual who controls or ...
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