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Tax Alerts

March 01, 2021

Tax Briefing(s)

2020 Tax Year-In-Review Consolidated Appropriations Act, 2021 (revised)2020 Post-Election Tax Policy Update 2020 Year-End Tax Planning 2020 Payroll Tax Deferral Order

House Ways and Means Advances COVID Relief Bill
On February 11, the House Ways and Means Committee finished marking up draft legislative text in the Fiscal 2021 budget resolution reconciliation, which contains tax law proposals based on President J...

IRS Guidance on Identity Theft Involving Unemployment Benefits
The IRS urges taxpayers who receive Forms 1099-G, Certain Government Payments, for unemployment benefits they did not actually get because of identity theft to contact their appropriate state agency f...

IRS Warns Taxpayers of “Ghost” Return Preparers
The IRS has reminded taxpayers to avoid "ghost" tax return preparers whose refusal to sign returns can cause an array of problems. Filing a valid and accurate tax return is important because the taxpa...

IRS Spotlights Online Accounts for Taxpayers
The IRS has reminded taxpayers that they can securely access their IRS account information through their individual online account.Information that taxpayers can view online includes:the amount they o...

International Mail Disruption Affects Form SSA-1099
The IRS has warned individuals who live outside of the United States and receive Social Security benefits that they may not receive Form SSA-1099, due to the temporary suspension of international mail...

AZ - No local rate changes effective February 1
There are no local Arizona transaction privilege tax (TPT) changes effective February 1, 2021. The TPT rate chart can be viewed at: https://azdor.gov/sites/default/files/media/TPT_RATETABLE_02012021....

CA - Remand to reduce assessed value did not warrant award of attorney fees
A California trial court’s postjudgment order awarding attorney fees to a taxpayer who successfully contested the property tax valuation of his property was reversed because the trial court had rema...

CO - Colorado subtraction enacted for certain decoupled cares act provisions; EITC expansion accelerated
Enacted Colorado legislation creates a deduction from corporate and personal income taxes related to the state’s decoupling with certain CARES Act provisions for:net operating losses;excess business...

FL - Motor vehicle sales tax rates by state provided
Florida provides motor vehicle sales tax rates by state as of December 16, 2020. The chart indicates, for each state, the Florida tax rate to be imposed and whether credit for a trade-in is allowed by...

HI - New cash bond deposit form issued
The Hawaii Department of Taxation has announced the issuance of a new Form D-160. The form is intended to be used by taxpayers who are contesting an assessment of additional tax, but who otherwise wis...

IL - Taxability of construction items used for government contract discussed
The Illinois Department of Revenue issued a general information letter discussing the applicability of sales and use tax to a construction contractor’s (taxpayer’s) purchase of equipment and mater...

IN - Valuation upheld as conclusions were supported by competent substantial evidence
For Indiana property tax purposes, the Board of Tax Review’s final determination increasing the assessed property tax value of the taxpayer’s retail store was affirmed because it was supported by ...

KY - Homestead exemption increased for 2021 and 2022
The Kentucky Department of Revenue has notified taxpayers that the maximum homestead exemption from property tax applicable to real estate owned by qualified taxpayers is increased by $1,200, from $39...

LA - 2021 individual tax filing season discussed
The Louisiana Department of Revenue has announced that it will begin accepting and processing 2020 state individual income tax returns on Friday, February 12, 2021. The 2020 individual state returns a...

MI - Additional penalty and interest waiver announced
The Michigan Department of Treasury is automatically waiving penalty and interest on the late reporting or payment of sales, use, and withholding tax for any non-accelerated return or payment due on J...

MN - Fact sheet on residency updated
The Minnesota Department of Revenue has revised its guidance pertaining to the personal income tax responsibilities of Minnesota residents. The updated guidance discusses domicile, the 183-day rule, s...

NY - Protest denied as taxpayer failed to establish change in domicile
A taxpayer was properly subject New York State and City personal income tax assessment as the taxpayer failed to establish change in domicile. In this matter, although the taxpayer contended that he w...

ND - Annual oil trigger price adjustment for 2021 announced
North Dakota has announced the annual oil trigger price adjustment for oil extraction tax purposes.Oil Trigger PriceThe oil trigger price is $89.65 for the calendar year January 1, 2021, through Decem...

TN - Taxpayer would be considered a delivery network company provided criteria is met
A taxpayer who operates an online forum that connects sellers of certain taxable foods and beverages with potential customers would be considered a delivery network company, not required to collect an...

TX - Guidance on tax treatment of out of state wineries discussed
For corporate income tax and sales and use tax purposes, Texas published information on out-of-state wineries. An out-of-state winery can sell and ship wine directly to the state’s customers, even t...

VA - Prototype engines qualified as exempt research and development
For Virginia sales and use tax purposes, marine prototype engines that a taxpayer designed qualified as exempt research and development because the engines were used in a one-time demonstration and co...

WI - Updated guidance on health savings accounts issued
For personal income tax purposes, the Wisconsin Department of Revenue (department) has updated a fact sheet on health savings accounts (HSAs). An HSA is a special account owned by an individual and us...

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