Latest COST Conscious

ISSUE 24-08; April 19, 2024

State Corporate Income Tax Filing Methods (Part 1) – In recent years, many states have either changed or considered changing their default corporate tax filing. New Jersey adopted water’s-edge combined reporting in 2019 only to come back in 2023 with a proposal to allow the Director of Tax to “decombine” taxpayers. Maine, New Hampshire, and Vermont have studied the implementation of mandatory worl

Latest Legislative Alert

ISSUE 24-17; April 23, 2024

COST Opposes Base Erosion Study and Tax Disclosure in Minnesota; COST Opposes New California Digital Advertising Services Tax Legislation

Latest Practitioner Connection

ISSUE 24-08; April 12, 2024

GeTtin’ SALTy: Episode 26: Catch-Up with Jared Walczak at the Tax Foundation, with a Focus on Property Tax Relief – In this episode of GeTtin’ SALTy, host Nikki Dobay is joined by Jared Walczak, Vice President of Special Projects at the Tax Foundation. Jared catches Nikki up on Tax Foundation's impression of 2023, and then theydiscuss what Jared has been focused on this legislative session. Jared

BLOOMBERG TAX

Australian Groups Seek Penalty, Coverage Clarity on Global Tax

April 24, 2024

Australian business groups and advisers asked the country's government for wider penalty relief for groups grappling with incoming global minimum tax laws as well as further clarity on who would be implicated under the new rules.

Kansas Governor Vetoes Another GOP Tax Cut Bill, Offers New One

April 24, 2024

Kansas Gov. Laura Kelly vetoed a bill on Wednesday that would have gradually cut $1.5 billion in taxes, asking legislators to consider a slimmer tax reduction package instead.

GOP Presses IRS on Oversight of Tax-Exempts With Foreign Ties

April 24, 2024

House Ways and Means Committee Republicans are probing the IRS about how it evaluates foreign influence in tax-exempt organizations.

Stripe Unlocks All-or-Nothing Payment Processing Approach (1)

April 24, 2024

Stripe Inc. is making it easier for merchants to use its financial-services offerings with the technology they already have to process payments.

Hydrogen Tax Rules Raise Warning Over Promise of $8 Billion Hubs

April 24, 2024

The Biden administration's proposed rules to qualify for the 45V hydrogen production tax credit will constrain the Energy Department's $8 billion hydrogen hub program if changes aren't made to the final guidance, according to industry officials.

Man Charged in New York Tax Business Scheme Sees Sentence Upheld

April 24, 2024

A man sentenced to five years in prison for his part in a scheme to file fraudulent tax returns had his sentence upheld by a federal appeals court.

IRS Crypto Draft Form Gives Insight on Future Audit Priorities

April 24, 2024

The IRS's newly released crypto broker reporting draft form provides a window into the crypto-specific data points the agency plans to monitor when targeting traders and brokers for audits, and signals the agency's growing knowledge of the digital asset space.

Florida Woman Denied Acquittal in $5.3 Million Mail Fraud Scheme

April 24, 2024

A Florida woman convicted of trying to claim more than $2.9 billion in fraudulent tax refunds, and acquiring $5.3 million, failed to convince the Eleventh Circuit on Wednesday that she should be acquitted.

California Panel Advances Ban on Retailer Tax Deals With Cities

April 24, 2024

A bill to ban California cities from giving away a cut of sales tax revenue to attract or keep the warehouses and offices of some of the world's largest retailers passed the Senate Revenue and Taxation Committee Wednesday.

Expatriates Can’t Dodge Obamacare Taxes Using Treaty, Feds Argue

April 24, 2024

Allowing expatriates to claim tax credits for net investment income realized in France would lead to a significant and unfair windfall for them, the government told a federal appeals court.