…state audits, implementation of sales tax reporting procedures, tax provisions, multi-state tax issues, international operations and foreign reporting requirements. She also prepared the documentation of costs eligible for the federal…
…can help. Additional Resources: Fourth Quarter 2020: Gift and Estate Tax Planning Opportunities Individual Tax Provisions Contained in the CARES Act Unclaimed Property: Adding Money to Your Wallet During COVID-19…
…K-2 and K-3 with the IRS. While this exception will assist taxpayers and tax return preparers for the 2021 tax filing season, managers and owners of partnerships, LLCs, and S…
…interpreting “limited partner” to mean a partner functioning as a passive investor A. The Tax Court misinterprets the phrase “as such.” B. The Tax Court’s interpretation violates a canon of…
…discussion of what to anticipate from states in the future. Kay Gotshall,senior tax manager, shares state and local tax insights on these new and changing tax regulations for Virginia and…
…Example: Income tax disclosure for public business entities Note X – Income Taxes The Company accounts for income taxes under ASC 740, “Income Taxes,” and is subject to U.S. federal…
…the immediately preceding tax year, instead of using the current tax year’s allocations, to determine if the business meets the definition of a tax shelter/syndicate. This regulation will provide much…
…tax payments to assist Virginia taxpayers impacted by the coronavirus. Virginia Income Tax Payments The waiver of interest applies to those payments made by individuals, estates and trusts, and corporations…
…The new regulations provided one change that may be a potential benefit to taxpayers. Taxpayers can now look to how the taxable income or loss of the immediately preceding tax…
Maximize your tax planning with a bargain sale to a nonprofit organization If you are interested in selling a valuable property but want another option to reduce your tax obligation,…
…be filed by February 28. Property Tax Generally business tangible personal property (BPPT) is taxable in the locality in which it is located on Tax Day, or January 1. Due…
…Serve as the liaison among partners, senior managers, clients, and staff during all phases of tax engagements Manage complex individual, trust, estate, and multi-state tax engagements from planning through delivery…