Posted Nov 3 2015 12:00 PM by
Indiana’s “Tax Amnesty 2015” is underway and will run through Nov. 16, 2015. Similar to the amnesty program offered by Indiana in 2005, the program provides an opportunity for individuals and businesses to disclose and pay unreported taxes that were due and payable for a tax period ending before Jan. 1, 2013, in exchange for abatement of penalties, interest, and collection fees or costs that would have otherwise been imposed.
Posted Oct 30 2015 12:00 PM by
The Patient Protection and Affordable Care Act (PPACA) imposes new reporting requirements on those that provide – and those that are required to provide – minimum essential coverage for the upcoming filing season. Minimum essential coverage is the type of health insurance that individuals are required to have in order to avoid paying a tax penalty.
Posted Sep 30 2015 12:00 PM by
The New York State Department of Taxation and Finance (NY DOTF) issued a sales and use tax bulletin on the rules governing where the delivery of property or services occurs, as well as the resulting sales tax consequences. The bulletin discusses general delivery rules, delivery to a purchaser's designee, delivery by a common carrier and delivery as a gift at the purchaser's direction.
Posted Sep 25 2015 12:59 PM by
Which came last: the chicken or the burrito? The Indiana Tax Court recently released its opinion in Aztec Partners, LLC v. Indiana Department of Revenue, which provided a restaurant industry-friendly interpretation of Indiana’s sales tax rules. As a result, restaurants may achieve cost savings by claiming a sales tax exemption on more of the utilities and equipment used in preparing food for customers.
Posted Sep 18 2015 1:06 PM by
Trucking companies that deliver to, and/or pick up from, locations outside of the U.S. must consider whether such activity results in tax obligations to the foreign jurisdiction. This article focuses on trucking operations to, and from points within, Canada.
Posted Aug 31 2015 12:00 PM by
Effective Jan. 1, 2015, Arizona has made drastic changes to the application of the transaction privilege tax (TPT) for contractors. As a result of these changes, contractors will have to make a determination of how they are classified for TPT purposes and apply the corresponding tax treatment.
Posted Aug 20 2015 12:00 PM by
ASU 2015-05 provides additional guidance on accounting for fees paid in a cloud-computing arrangement. The FASB determined there was no explicit guidance currently available under generally accepted accounting principles (GAAP) in the United States for these type of transactions, specifically related to an arrangement including a software license.
Posted Jul 22 2015 7:38 PM by
Yesterday, Senate Finance Committee Chairman Orrin Hatch (R-Utah) and Ranking Member Ron Wyden (D-Ore.) announced progress on a bipartisan bill to extend multiple pro-business and pro-individual tax provisions that expired at the end of 2014.
Posted Jun 29 2015 5:25 PM by
The Affordable Care Act (ACA) created the Patient-Centered Outcomes Research Institute (PCORI) fee. This fee is to be used to fund research on medical treatment effectiveness and is to be paid by both fully-insured and self-funded group health plans.
Posted Jun 26 2015 12:00 PM by
In a recent Advisory Opinion, the New York State Department of Taxation and Finance (NY DOTF) has found the sales of subscription-based Internet services, Healthcare Registry and Rapid Recall Exchange by a not-for-profit are taxable sales.