IRS updates FAQs on passport certificationIn 2015, Congress added Code Sec. 7345 as part of the Fixing America’s Surface Transportation Act of 2015 (FAST Act). Upon receiving certification of seriously delinquent tax debt from...
CBO reports on top tax incentives/expendituresThe Congressional Budget Office (CBO) issued a report in mid-March about current tax incentives. Tax expenditures, CBPO explained, reduce the amount of revenue that is collected for any given set of s...
New Offers in Compromise policy starts April 27The IRS informed taxpayers and tax professionals of its updated policy with regards to the Offer in Compromise (OIC) application process. OIC applications received on or after March 27, 2017, will now...
AK - Interest rates increased for Q3 2017The Alaska interest rate for most delinquent taxes increases to 4.75% (formerly, 4.5%) for the period July 1, 2017, through September 30, 2017. For that quarter, the oil and gas production tax interes...
CT - Taxpayers warned about telephone scamsThe Connecticut Department of Revenue Services (DRS) Commissioner Kevin Sullivan has issued a press release advising personal income taxpayers to be vigilant against telephone callers who pose as Inte...
DE - Franchise tax increases enactedDelaware Gov. John Carney has signed legislation that increases the maximum corporation franchise tax computed using either the authorized shares method or the assumed capital value method from $180,0...
MA - Assessment of subdivision land found validA Massachusetts Court of Appeals has found that, for property tax purposes, land that was part of a continuous tract and subsequently divided was properly assessed since the evidence of overvaluation ...
MI - Exemption for farmers’ cooperative clarifiedThe Michigan Department of Treasury (Treasury) has issued a Treasury Update that farmers’ cooperative organized and operated under IRC 521 that are considered a tax exempt entity for federal inc...
MT - Intangible land value exemption enactedFor Montana property tax purposes, an intangible land value assistance program has been created for certain residential property when land value is disproportionately higher than the value of associat...
NE - Guidance for construction contractors updatedThe Nebraska Department of Revenue has updated sales and use tax guidance relating to construction contractors. Contractors making payments to a subcontractors that is performing construction contract...
NM - Warrant of levy was properly issuedA taxpayer’s protest of a warrant of levy issued to collect delinquent New Mexico gross receipts tax was denied because the warrant satisfied the statutory requirements. Generally, the Taxation ...
OK - Local rate changes updatedThe Oklahoma Tax Commission has announced that effective July 1, 2017, the city of Stroud will impose a new 4% lodging tax.The following local Oklahoma sales and use tax changes are effective October ...
SC - Refund claim denied as untimelyTaxpayers were not allowed a South Carolina personal income tax refund for tax years 2011 and 2012 because the claim was not filed within the required statutory time period. As per the applicable stat...
SD - Guidance regarding sales and use tax updatedThe South Dakota Department of Revenue has updated a publication addressing various sales and use tax topics. Topics covered in the guide include information on sales tax; use tax; gross receipts tax;...
VA - Reminder issued on upcoming sales tax holidayThe Virginia Department of Taxation has issued a reminder to taxpayers about the sales tax holiday being held from August 4 through August 6, 2017, during which consumers can purchase qualifying schoo...
