Ideas & Insights

Budget bill increases personal and corporate tax rates, enacts a SALT deduction workaround and makes other changes to the tax code.

Comprehensive legislation addresses conformity, Paycheck Protection Program expense deduction, CAT exclusions and pass-through withholding.

This Alert describes and explains the postponement of certain federal tax filing and payment deadlines in IRS Notice 2021-21.

Kentucky passes a series of tax bills intended to attract cryptocurrency miners with new exemptions and credits.

The Pennsylvania Department of Revenue has issued complex guidance for employees claiming home office expense during the pandemic.

Governor Ned Lamont has signed legislation retroactively providing COVID-related business nexus and personal income tax relief for 2020.

Tax bills provide Paycheck Protection Program conformity and revise pass-through entity election for s corporations.

The legislation significantly changes the corporate tax system and exempts certain COVID-19 relief from taxation.

Electing employers may withhold income tax from employee wages as if the wages were earned from work performed at a primary work location.

New Hampshire files challenge over Massachusetts regulation taxing telecommuting nonresidents with U.S. Supreme Court.

Extension of corporate surtax and expanded millionaire’s tax assists New Jersey with significant budget deficit caused by the coronavirus.

The Tennessee Department of Revenue issued guidance on the state’s conformity to section 163(j) of the Internal Revenue Code.

An executive order was issued directing the deferral of payroll tax payments. Follow up guidance from the Treasury Department is expected.

Eligible businesses that did not receive certain other COVID-19 relief may qualify for grants up to $250,000.

New legislation allows nonprofit employers to pay 50% of their unemployment reimbursing payment obligations to states.

Finalized legislation will evolve but the proposal is a starting point for bipartisan negotiations for a new round of economic relief.

Seattle payroll expense tax to be imposed on employee compensation of at least $150,000 for businesses with $7 million or more in payroll.

Taxpayers that properly secured a first extension may file a request for a second extension on or before Aug. 17, 2020.

The state will decouple from the taxpayer-friendly interest expense and net operating loss provisions of the federal CARES Act.

Expansive tax bill provides taxpayer-friendly changes while balancing reduced tax revenue in the COVID-19 economy.

Fiscal year 2021 budget includes temporary tax changes in order to generate much needed revenue in the COVID-19 economy.

New York enacts legislation further decoupling New York City corporate and UBT taxes from certain CARES Act provisions.

Delaware notices advise businesses to either participate in the state’s unclaimed property VDA Program or be subject to an audit.

Employers should use the updated Form 941 to properly report new CARES Act and FFCRA credits beginning in the second quarter of 2020.

Taxpayer-friendly measures provide interest waivers, extension of limitations periods and assistance to impacted businesses.

The Arizona Court of Appeals upheld a lower court finding that a CEO was responsible for unremitted transaction privilege tax.

The COVID-19 pandemic may relieve recipients of tax incentives from the recapture provisions under the Nebraska Advantage Act.

Emergency regulations and technical guidance provide clarifications for telecommuter withholding and nexus safe harbors.

Maintaining static conformity to the IRC, Wisconsin adopts several taxpayer-friendly provisions of the federal CARES Act.

Corporate taxpayers filing a consolidated return have an added layer of rules to navigate when carrying back a net operating loss.

The bills address the state's IRC conformity as it relates to new federal section 163(j) limitation rules, among other provisions.

Employer social security payroll tax payment deferral for taxes incurred from March 27th through Dec. 31, 2020.

Immediate and retroactive expensing of qualified improvement property creates tax saving opportunities for taxpayers.

Today, the House of Representatives passed the CARES Act on a voice vote and the President signed the bill enacting it into law.

Federal income tax filing and payment relief extension to July 15, 2020 may not apply to all state income tax filings.

Limited sales and use tax filing and payment relief has been included in some of the state and local COVID-19 response guidance.