Reporting & Filing Requirements
To be deductible at the entity level, payments by passthrough entities of state and local taxes should be made in the tax year of the liability, but state-specific elections may complicate that timing, tax advocates advise.
The COVID-19 pandemic is forcing businesses to reevaluate tax obligations as the proliferation of remote working raises a broad array of state and local tax issues, including nexus, apportionment, compliance, and financial statement reporting.
This item discusses FASB Contingencies standards in the context of potential loss contingencies related to sales and use taxes.
The resolution creates the possibility that mobile workforce legislation, which the AICPA strongly supports, will be enacted this year.
The Senate voted to make room in the FY 2021 budget resolution for mobile workforce legislation. Details of the budget still must be negotiated, but the vote creates the possibility that mobile workforce legislation, which the AICPA strongly supports, will be enacted this year.
With the Oct. 15 corporate tax filing deadline looming and the global pandemic still affecting taxpayers and practitioners, several states have provided one-month filing relief for their corporate Oct. 15 deadlines.
This article discusses some procedural and administrative quirks that have emerged with the new tax legislative, regulatory, and procedural guidance related to COVID-19.
To promote nationwide consistency, the AICPA encourages states’ adoption of the MTC model statute that conforms to the new federal partnership audit regime.
This item summarizes some of the important changes impacting the New Jersey corporation business tax and when these changes took effect or will become effective.
Broad state adoption of the model statute developed by the AICPA in partnership with other
major stakeholders will provide greater uniformity
and increased compliance.
This item discusses new trends in states’ conformity with or decoupling from Sec. 965.
State are weighing the many consequences of federal tax reform.
California recently revamped its state tax agency system and the associated tax appeals process.
This item offers an overview of certain provisions in the regulations that could have state corporate income
tax consequences.
The state of Nevada cannot apply Nevada law to award damages against the California Franchise Tax Board that are greater than it could award against a Nevada state agency in similar circumstances, the U.S. Supreme Court held.
The South Carolina Department of Revenue is providing affected taxpayers a year of credit monitoring after a hacker stole information including 3.6 million Social Security numbers and 387,000 credit and debit card numbers from its computer systems.
An increasing number of states have enacted or proposed combined reporting requirements for related entities involved in a unitary business, creating increased compliance burdens for taxpayers and administrative challenges for state tax agencies.
This article discusses common issues in state sales tax audits and gives tips and best practices for each part of an audit life cycle.
The varying rules for withholding can create a compliance nightmare for multistate partnerships with a large number of partners.
The use of mandatory unitary combined reporting has become increasingly popular among states in recent years, driven by state budgetary shortfalls and the perceived distortion of taxable income by multistate corporations filing separate company reports.
