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MTC’s UDITPA Rewrite Project Not Up for Adoption This Year
Posted May 11, 2012 by TaxAnalysts®
The Multistate Tax Commission Executive Committee on May 10 decided to hold all five pieces of the project to rewrite the Uniform Division of Income for Tax Purposes Act until interested parties have a chance to go through the proposals in depth and pr…
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IRS Excludes Upfront Swap Payments from Definition of U.S. Property
Posted May 11, 2012 by TaxAnalysts®
In response to industry concerns over changes to financial regulations triggering deemed dividends, the Treasury Department has issued proposed and temporary regulations that would exclude upfront payments on some derivatives contracts from the code se…
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View all the federal, state and international tax news headlines for May 11th from TaxAnalysts® on LexisNexis Tax Center
Posted May 11, 2012 by TaxAnalysts®
View all the federal tax news headlines for May 11th from TaxAnalysts® on LexisNexis Tax Center
View all the state tax news headlines for May 11th from TaxAnalysts® on LexisNexis Tax Center
View all the international tax news headlines for May …
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Will Obama’s Views on Tax Reform “Evolve” Too?
Posted May 10, 2012 by Howard Gleckman
Robin, thanks for asking me back on Good Morning America to talk about my views on tax reform. After we spoke about gay marriage, I got to thinking about another deeply-held emotional issue that affects every American family. Well– you know, I have to tell you, as I’ve said, I’ve– I’ve been going through an [...]
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TIGTA and Congress Focus on Identity Theft and Tax Fraud
Posted May 10, 2012 by AICPA.Org Tax Adviser
The House Ways and Means Oversight and Social Security Subcommittees held a hearing on tax fraud involving identity theft and TIGTA released a report saying the IRS does not handle identity theft issues well.
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Illinois “Click-Through Nexus” Law Held Unconstitutional
Posted May 10, 2012 by AICPA.Org Tax Adviser
The Circuit Court for Cook County in Illinois issued an eagerly awaited order explaining its bench decision on April 25, which declared Illinois’s “click-through nexus” law unconstitutional.
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Boehner Says House Will Vote on Tax Cuts This Summer
Posted May 10, 2012 by TaxAnalysts®
The House will vote this summer to extend the expiring 2001 and 2003 tax cuts, House Speaker John A. Boehner, R-Ohio, said May 9. In an interview on Fox Business Network, Boehner said, "The House, I believe, will act this summer to extend all…
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Minnesota Senate Approves ‘Amazon’ Law as Part of Vikings Stadium Bill
Posted May 10, 2012 by TaxAnalysts®
The Minnesota Senate on May 8 passed an "Amazon" law as part of legislation (SF 2391) to finance a new stadium for the National Football League's Minnesota Vikings. The Senate passed the bill 38 to 28 late in the evening, and it will…
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India’s Lower House Passes Finance Bill
Posted May 10, 2012 by TaxAnalysts®
Despite international pressure to change controversial tax amendments, the lower house of India's Parliament passed the draft 2012 Finance Bill without budging on the Finance Ministry's position on retroactively taxing Vodafone-like transaction…
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View all the federal, state and international tax news headlines for May 10th from TaxAnalysts® on LexisNexis Tax Center
Posted May 10, 2012 by TaxAnalysts®
View all the federal tax news headlines for May 10th from TaxAnalysts® on LexisNexis Tax Center
View all the state tax news headlines for May 10th from TaxAnalysts® on LexisNexis Tax Center
View all the international tax news headlines for May…