Ideas & Insights

A summary of important updates for determining deferred tax provision under ASC 740 for the quarter ending March 31, 2021.

IRS extended filing and paying deadlines and TTB updated disaster relief guidance for taxpayers affected by CA wildfires and IA derecho.

North Carolina joins more than 30 states adopting a marketplace facilitator nexus provision effective Feb. 1, 2020.

Pennsylvania Department of Revenue issues guidance that administratively implements economic nexus for corporate net income tax.

District of Columbia OTR will no longer require an affirmation letter from an organization renewing its tax-exempt status.

The IRS announced tax relief, including extended deadlines, for counties in NE and IA affected by the recent winter storm and flooding.

The IRS announced tax relief, including extended deadlines, to Lee County, Alabama, which was impacted by recent storms.

The IRS announced tax relief, including extended deadlines, to certain California counties impacted by the wildfires.

The IRS announced tax relief, including extended deadlines, to certain North Carolina counties impacted by Hurricane Florence.

The IRS has released preliminary information regarding relief for taxpayers and tax preparers in areas affected by Hurricane Florence.

IRS’ attempt to re-characterize loan as a distribution from subsidiary’s earnings fails under debt-equity principles.

Employer leave-based donation programs let employees forgo personal leave in exchange for cash payments to charities for disaster relief.

The IRS has provided disaster relief, including retirement accounts, to the taxpayers affected by the wildfires in California.

The IRS announced tax relief to certain northern California counties impacted by the recent outbreak of wildfires.

The IRS expands tax relief for taxpayers and return preparers located in Georgia and affected by Hurricane Irma.

The IRS announcement describes relief for taxpayers and return preparers located with in the declared disaster areas.

IRS extends relief to additional taxpayers affected by Hurricane Harvey by adding to the list of eligible Texas counties.

The amount of vacation, sick or personal leave that employees forgo for their employers to make a charitable contribution is not taxable.

The IRS, Department of Labor and PBGC combine to offer regulatory relief for employee plans affected by Hurricane Harvey.

Taxpayers in designated Texas counties have until Jan. 31, 2018 to file certain tax returns and make certain tax payments.