Ideas & Insights

RSM submits Comment Letter seeking clarity on interaction of the employee retention tax credit and required disallowance for wage expense.

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

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

Biden-Harris administration announces changes to PPP including a 14-day exclusive access period for businesses with fewer than 20 employees.

IRS postpones certain filing, payment and other time sensitive deadlines for taxpayers affected by Texas winter storms.

IRS temporarily waives penalty for using dyed diesel fuel on the highways in Texas due to severe winter storm retroactive to Feb. 12.

The Tax Court explains various R&D credit concepts, including process of experimentation, qualified services and pilot models.

Employers can add flexibility to their health flexible spending accounts and dependent care assistance programs per Notice 2021-15.

Bill would treat carried interest as ordinary income and subject to it to self-employment tax, regardless of the holding period.

The legislation clarifies that the tax is a tax on the pass-through entity itself and applies to nonresidents.

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

First-of-its-kind gross receipts tax imposed on businesses deriving revenue of at least $1 million from digital advertising in Maryland.

IRS adds multiple vehicles to its list of plug-in electric motor drive vehicles for purposes of the section 30D credit.

LB&I’s compliance campaign focuses on taxpayer reporting of purchase price allocations in taxable asset acquisitions.

Tennessee district court holds credit against fuel excise taxes, reduces excise tax liability and must be deducted from production costs.

The IRS launched a new option to electronically submit third-party authorization forms with either handwritten or electronic signatures.

Partially finalized regulations on business interest expense deductions provide helpful clarifications for multinational businesses.

A new nexus safe harbor is available for remote sellers making under $100,000 of sales to Chicago customers in the previous four quarters.

A Nebraska court found that two taxpayers who moved to the U.K. did not intend to abandon their domicile for state tax purposes.

The case explains the IRS’ view of the requirements to establish substantial rights for work performed under contract for the R&D credit.