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US Supreme Court denies certiorari in First Marblehead

US Supreme Court denies certiorari in First Marblehead

Massachusetts Supreme Judicial Court previously affirmed its decision that held FIET sourcing rule did not violate internal consistency.

  • Girard Brisbois, Lutof Awdeh, Rich Gowen
  • |
  • February 21, 2017
Section 7520 rate drops for March, dip or blip, we'll take it

Section 7520 rate drops for March, dip or blip, we'll take it

This slight reprieve in the upward trend of rates keeps the window open for wealth transfer on a gift tax-efficient basis.

  • Charlie Ratner
  • |
  • February 21, 2017
ACA penalty on individuals without health insurance still applies

ACA penalty on individuals without health insurance still applies

The IRS will process 2016 individual tax returns without health insurance information, but ACA penalties still apply.

  • Jill Harris
  • |
  • February 20, 2017
Tax Court decision on abusive DISC commissions to Roth IRA overturned

Tax Court decision on abusive DISC commissions to Roth IRA overturned

The Sixth Circuit disagreed with the IRS using substance over form to recharacterize DISC dividends as excess Roth IRA contributions.

  • Anne Bushman
  • |
  • February 20, 2017
Pennsylvania addresses taxable software support services

Pennsylvania addresses taxable software support services

Pennsylvania Department of Revenue issues letter ruling on the taxability of previously nontaxable software support services.

  • Matt Wilk, Denny Craul, Mo Bell-Jacobs
  • |
  • February 17, 2017
District of Columbia Mayor Bowser allows paid leave bill to become law

District of Columbia Mayor Bowser allows paid leave bill to become law

Universal Paid Leave Amendment Act of 2016 provides for one of the most expansive paid employee and family leave protections in the country.

  • Tim Ellenwood, Jonathan Weinberg, Amol Jain
  • |
  • February 16, 2017
Calendar year C corporations will get six-month extension

Calendar year C corporations will get six-month extension

Revised Form 7004 instructions clarifies that a calendar year C corporation is eligible for an automatic six-month extension to Oct. 16.

  • Christian Wood, Kari Peterson, Peter Pentland
  • |
  • February 09, 2017
House resolution would revoke controversial debt/equity regulations

House resolution would revoke controversial debt/equity regulations

A joint resolution seeking to revoke the Treasury’s debt documentation rules has been referred to the Committee on Ways and Means.

  • Jamison Sites
  • |
  • February 06, 2017

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