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Tax Alerts

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most recent tax alerts

Restaurant Revitalization Fund is coming – an update on what we know

Restaurant Revitalization Fund is coming – an update on what we know

The Restaurant Revitalization Fund is coming – SBA website soon to be operational – applicants should be ready.

Extended penalty relief for failure to deposit employment taxes

Extended penalty relief for failure to deposit employment taxes

IRS Issued Notice 2021-24 to extend relief for failure to deposit employment taxes for employers anticipating credits.

  • Alina Solodchikova, Evan Stone
  • |
  • April 15, 2021
West Virginia enacts market sourcing and single-sales factor

West Virginia enacts market sourcing and single-sales factor

In addition to market sourcing and single-sales factor apportionment, the state adopts a withholding threshold for certain mobile workers.

  • Steve Arluna, David Brunori , Amol Jain
  • |
  • April 15, 2021
New York to increase income tax rates; enact SALT workaround

New York to increase income tax rates; enact SALT workaround

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

  • Harlan Kwiatek, Rob Calafell, Robert Zonenshein
  • |
  • April 14, 2021
Virginia unitary businesses must submit informational report by July 1

Virginia unitary businesses must submit informational report by July 1

Findings will be used by the legislature to determine whether Virginia should adopt mandatory unitary combined filing.

  • Steve Arluna, David Brunori , Amol Jain
  • |
  • April 13, 2021
Massachusetts requires sales tax advance payment; changes filing date

Massachusetts requires sales tax advance payment; changes filing date

Beginning for the April tax period, certain taxpayers are subject to advance payment requirements despite a longer return filing period.

  • John Cavanaugh, Macey Smith
  • |
  • April 12, 2021
Treasury removes United Arab Emirates from international boycott list

Treasury removes United Arab Emirates from international boycott list

The Treasury has removed the United Arab Emirates from the list of countries requiring cooperation with an international boycott.

IRS provides guidance on deductions for food or beverages

IRS provides guidance on deductions for food or beverages

Notice 2021-25 provides temporary relief on deductions for food or beverage under the Taxpayer Certainty and Disaster Relief Act.

  • Karen Field, Katie Beaver
  • |
  • April 09, 2021
IRS TE/GE division releases new compliance initiatives

IRS TE/GE division releases new compliance initiatives

Eight new initiatives, affecting exempt orgs, employee plans and tax-exempt bonds, added to IRS Compliance Programs and Priorities website.

  • Alexandra Mitchell, Bill O’Malley, Morgan Souza
  • |
  • April 07, 2021
Ruling addresses post-spin-off stock repurchases

Ruling addresses post-spin-off stock repurchases

Spin-off ruling reflects viability of post-spin-off stock repurchases, with added twist: investment banks effect repurchases.

  • Stefan Gottschalk
  • |
  • April 06, 2021