November 16, 2020 – Alerts

The IRS intends to issue proposed regulations to permit a partnership or an S corporation to deduct specified income tax payments made to a domestic state or local jurisdiction.

In Notice 2020-75, the IRS clarifies that state and local income taxes

Following the lead of the Internal Revenue Service, the Pennsylvania Department of Revenue announced yesterday that the deadline for taxpayers to file their 2019 Pennsylvania personal income tax returns is extended to July 15, 2020. This means taxpayers will have an additional 90 days to file from the original deadline of April 15. The

Earlier this week, New Jersey Governor Philip Murphy announced his proposed budget for fiscal year 2021.  Buried in the dense text of the 94-page document (at page 37) were several tax enforcement provisions of note.  The budget reveals that the state’s Division of Taxation is implementing new auditing and enforcement measures estimated to yield $40.0

Earlier this week, the Attorneys General of New Jersey, New York, and Connecticut sued the Treasury Department and the Internal Revenue Service challenging a new IRS rule that would preclude individuals in those states from claiming deductions for charitable contributions to local governments. This lawsuit is the latest chapter in the battle over the “SALT

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 to the U.S. Supreme Court’s ruling in South Dakota v. Wayfair, 138 S.Ct. 2080 (2018), which overruled prior precedent prohibiting states from imposing sales

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 are considered to maintain places of business in Pennsylvania and thus, required to collect and remit Pennsylvania sales taxes.  In Wayfair, the Supreme Court

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 program began on November 15, 2018 and goes through January 15, 2019.  The New Jersey Division of Taxation will waive late filing and late payment

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 regulations require a taxpayer who makes a contribution to a charitable organization to reduce his charitable deduction by any state or local tax credit that

The States of New York, Connecticut, Maryland, and New Jersey filed a federal court lawsuit this week challenging the constitutionality of the new $10,000 cap on the federal tax deduction for state and local taxes (SALT). The lawsuit, filed in the Southern District of New York, names as defendants the Secretary of the Treasury,