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Tax Briefing(s)

2020 Post-Filing Season Update CARES Act Coronavirus Tax Relief

2020 Luxury Auto Depreciation Caps and Lease Inclusion Amounts Issued
The IRS has issued the luxury car depreciation limits for business vehicles placed in service in 2020, and the lease inclusion amounts for business vehicles first leased in 2020. The limits and amount...

IRS Addresses Common Tax Refund Myths
The IRS has addressed various myths regarding tax refunds, and reminded taxpayers that there is no secret way to find out when a refund will be issued. The IRS also commented on processing delays for ...

Treasury, SBA Announce Release of PPP Loan Data
Treasury and the Small Business Administration (SBA) announced on July 6 the public release of data regarding specific loans issued under the Paycheck Protection Program (PPP)."The PPP is providing mu...

CARES Act Waives RMDs for IRAs and Retirement Plans
The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) ( P.L. 116-136) waives required minimum distributions (RMDs) during 2020 for IRAs and retirement plans, including beneficiaries ...

Taxpayers Getting Letters on Employer Credit Advance Payment Processing Delays
The IRS has started sending letters to taxpayers who have experienced delays in the processing of their Form 7200, Advance Payment of Employer Credits Due To COVID-19.If the IRS rejected Form 720...

IRS Postpones Deadline for CHNA Requirements
The IRS has further postponed, until December 31, 2020, the deadline for performing any community health needs assessment (CHNA) requirements due to be completed on or after April 1, 2020, and before ...

More Retail Partners Accepting Cash Federal Tax Payments
The IRS announced that additional retail partners are accepting cash payments for federal taxes. This option may be used by individuals and business taxpayers. The IRS’s continuing partnership w...

GAO: Tax Compliance Challenges Confront Platform Workers
According to a report released by the Government Accountability Office (GAO), various tax compliance challenges confront "platform workers" who often lack access to information about their e...

NTA Releases 2021 Objectives Report
National Taxpayer Advocate (NTA) Erin M. Collins released an objectives report to Congress on June 29. The report identifies taxpayer challenges arising from the COVID-19 pandemic, the Coron...

AZ - Abatement of penalties for TPT due to covid-19 approved
Arizona taxpayers have reasonable cause for not timely filing or paying applicable transaction privilege taxes (TPT) to the Department of Revenue due to COVID-19. The Department has determined that CO...

CA - Fourth interested parties meeting set to discuss potential amendments to alternative apportionment method rules
The California Franchise Tax Board (FTB) will hold a fourth interested parties meeting on Tuesday, August 11, 2020, at 10:00 a.m., to discuss the proposed amendments to California’s rules pertai...

CO - Colorado rural jump-start zone incentive program extended, amended
The Colorado Rural Jump-Start Zone program, which provides corporate and personal income tax and sales and use tax incentives for new businesses in distressed counties, has been extended for five year...

FL - Liens related to unpaid utility-service charges and limitation period applicable to enforcement discussed
For Florida property tax purposes, the attorney general has issued an opinion on the payment of delinquent utility-service charges incurred by former owners of the property by the new owners. The atto...

HI - Property tax credit reminder
Hawaii residents are reminded that the City & County of Honolulu offers a real property tax credit to property owners who meet certain eligibility requirements. Applicants who qualify, are entitle...

IL - Publication on prepaid wireless E911 surcharge revised
Illinois has revised a publication on the retailer’s overview of sales and use tax and the prepaid wireless E911 surcharge. The focus of the publication is for retailers who file Form ST-1, Sale...

IN - Income derived from Indiana sources properly subject to tax
A nonresident taxpayer was properly subject to Indiana personal income tax on wages paid by his employer as the income at issue was derived from sources within the state. In this matter, the taxpayer ...

KY - Answers to FAQs about the cares act and covid-19
Kentucky posted answers to frequently asked questions about:corporate and personal income tax conformity to selected provisions under the Coronavirus Aid, Relief, and Economic Security (CARES) Act;the...

LA - Louisiana enacts enterprise zone covid-19 hazard pay rebate
Louisiana has extended Enterprise Zone Program incentives by authorizing a hazard pay rebate to eligible essential critical infrastructure workers who provided services during the COVID-19 pandemic.Ha...

MI - Rules on marijuana licenses authorized
For sales tax and marijuana excise tax purposes, the Marijuana Regulatory Agency has issued rules for marijuana licensees under the Medical marihuana facilities licensing act and the Michigan regulati...

MN - Commissioner of revenue properly issued tax assessment against physician who did not file tax return
A physician (taxpayer) was properly subject to Minnesota personal income tax assessment as the taxpayer's gross income met the state income tax filing requirements. The taxpayer argued that he was not...

NY - Request for conciliation conference properly denied as untimely
A taxpayer’s request for a conciliation conference with the Bureau of Conciliation and Mediation Services regarding an assessment of New York personal income tax was untimely because it was not ...

ND - Deadline for gas tax refund application is June 30
The last day that eligible taxpayers may apply for a refund of North Dakota fuel taxes paid on gasoline or gasohol purchased during 2019 is June 30, 2020. The refund is available to farmers, ranchers,...

TN - Guidance provided on new filing threshold for out-of-state dealers
Tennessee provides guidance regarding the new filing threshold for out-of-state dealers for sales and use tax purposes.Filing Threshold Effective October 1, 2020Effective October 1, 2020, out-of-state...

TX - Taxpayer's claim for refund under enterprise zone act denied as untimely
A taxpayer was not entitled to a refund of Texas sales tax under the Enterprise Zone Act because the taxpayer filed the claim beyond the 18-month statute of limitation. Generally, a qualified business...

VA - Guidelines on research and development expenses credit updated
Virginia released updated guidelines on the research and development expenses tax credit for taxable years beginning on or after January 1, 2020. The update reflects 2020 legislation that increased th...

WI - Taxpayer's claim for refund barred by finality of notice of assessment
For Wisconsin sales and use tax purposes, a taxpayer’s claim for refund was properly denied because the taxpayer could not use a claim for refund as a procedural end-around to untimely appeal th...

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