The Tax Court’s recent decision in Walquist v. Commissioner, 152 T.C. No. 3, further clarified the application of the supervisor approval requirement under section 6751(b)(1), which has been a
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New York Department of Taxation and Finance Issues Notice Regarding Sales Tax Registration Requirement for Businesses with No Physical Presence in New York
In January, the New York Department of Taxation and Finance issued a notice regarding sales tax registration requirements for businesses with no physical presence in New York. The notice responds…
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Pennsylvania Issues Guidance in Response to Supreme Court Decision in Wayfair
The Pennsylvania Department of Revenue recently issued guidance in response to the Supreme Court opinion in South Dakota v. Wayfair, Inc., 138 S.Ct. 2080 (2018), clarifying when remote sellers…
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Like-kind Exchanges Limited to Real Property
The IRS recently reminded taxpayers that like-kind exchanges are now generally only available for exchanges of real property. This change was enacted as part of the Tax Cuts and Jobs…
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New Jersey Offers Tax Amnesty Program
New Jersey recently announced the New Jersey Tax Amnesty program. The New Jersey Division of Taxation has indicated that both individuals and businesses may qualify for the program. The amnesty…
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IRS Provides Clarification for Business Taxpayers That Make Payments To State or Local Tax Credit Programs
We recently wrote on the new proposed regulations addressing the availability of charitable deductions when taxpayers receive or expect to receive corresponding state or local tax credits for contributions. The…
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New Law Eases Requirements for Combat-Zone Contractors to Claim Foreign Earned Income Exclusion
The Bipartisan Budget Act of 2018 eases the requirements for combat-zone contractors to claim the foreign earned income exclusion. A U.S. citizen is generally taxed on his worldwide income. The…
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Treasury Issues Proposed Regulations Addressing Charitable Deductions for State and Local Tax Credit Contributions
The Treasury Department recently issued proposed regulations addressing the availability of charitable deductions when taxpayers receive or expect to receive corresponding state or local tax credits for contributions. The proposed…
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U.S. Supreme Court Removes Tax Advantage for Online Retailers
In its 5-4 decision in South Dakota v. Wayfair, the U.S. Supreme Court gave states the authority to require online retailers to collect state sales taxes even if the…
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Tax Court Holds Commissioner Failed to Comply with Supervisor Approval Requirement for Fraud Penalty
In Graev III, issued late last year, the Tax Court held that the Commissioner must comply with section 6751(b)(1) as part of his burden of production for tax penalties. …
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