PTE deduction: Timing issues for accrual-method taxpayers
taxpayers and practitioners face uncertainty regarding the timing of the deduction provided for in Notice 2020-75.
Reporting & Filing Requirements
Cryptoasset issues in state and local taxation
This item highlights a few issues taxpayers should consider in income taxation, sales taxation, and unclaimed property/escheat reporting.
Continued challenges involving teleworking employees: The new normal
Complications of teleworking continue to arise, with each state making its own tax rules.
Senate Finance airs post-Wayfair sales tax burdens
Small business owners describe scrambling to comply with varying sales tax compliance rules across a welter of jurisdictions.
Tennessee taxation of passthrough entities
An insufficient understanding of the rules can be dangerous to taxpayers when determining which entity has a filing responsibility in Tennessee.
SALT payments before year end a priority for passthroughs
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.
Remote work creates a spectrum of state and local tax issues
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.
Sales and use taxes: Loss contingencies
This item discusses FASB Contingencies standards in the context of potential loss contingencies related to sales and use taxes.
Senate Budget resolution supports mobile workforce legislation
The resolution creates the possibility that mobile workforce legislation, which the AICPA strongly supports, will be enacted this year.
Senate shows bipartisan support for mobile workforce tax legislation
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.
Several states provide one-month filing relief for corporate deadlines
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.
Quirks spurred by COVID-19 tax relief
This article discusses some procedural and administrative quirks that have emerged with the new tax legislative, regulatory, and procedural guidance related to COVID-19.
Why states should adopt the MTC model for federal partnership audits
To promote nationwide consistency, the AICPA encourages states’ adoption of the MTC model statute that conforms to the new federal partnership audit regime.
Tax reform in the Garden State
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.
A uniform state approach to the new federal partnership audit regime
Broad state adoption of the model statute developed by the AICPA in partnership with other major stakeholders will provide greater uniformity and increased compliance.
Different SALT flavors of mandatory deemed repatriation under Sec. 965
This item discusses new trends in states’ conformity with or decoupling from Sec. 965.
The Tax Cuts and Jobs Act: State tax considerations, impacts, and responses
State are weighing the many consequences of federal tax reform.
A new state tax appeals era begins in California, but questions remain
California recently revamped its state tax agency system and the associated tax appeals process.
Potential state tax consequences of the final and temporary Sec. 385 regs.
This item offers an overview of certain provisions in the regulations that could have state corporate income tax consequences.
Full Faith and Credit Clause Prohibits Nevada Court’s Damage Award Against California
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.
