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Tax Alerts

Tax Briefing(s)

2024 Post-Filing Season Update (Proposed) Tax Relief for American Families and Workers Act of 2024 (Passed by House, January 31, 20 2023 Tax Year-in-Review Consolidated Appropriations Act, 2023 2019 Year-End Tax Planning

United States-Russia Tax Treaty To Be Suspended, Announcement 2024-26
The United States has provided formal notice to the Russian Federation on June 17, 2024, to confirm the suspension of the operation of paragraph 4 of Article 1 and Articles 5-21 and 23 of the Conven...

IRS Tightens Scrutiny on Employee Retention Credit Claims, IR-2024-169
The IRS has announced plans to deny tens of thousands of high-risk Employee Retention Credit (ERC) claims while beginning to process lower-risk claims. The agency's review has identified a sign...

Seniors Warned of Rising Impersonation Scams, IR-2024-164
The IRS has issued a warning about the increasing threat of impersonation scams targeting seniors. These scams involve fraudsters posing as government officials, including IRS agents, to steal s...

Clean Hydrogen Credit Inflation Factors and Applicable Amounts for 2023 and 2024 Released, Notice 2024-45
The IRS released the inflation adjustment factors and the resulting applicable amounts for the clean hydrogen production credit for 2023 and 2024.For 2023, the inflation adjustment...

Inflation Adjusted Credit Rate for Carbon Dioxide Sequestration Released, Notice 2024-39
The IRS has released the inflation adjustment factor for the credit for carbn dioxide (CO2) sequestration under Code Sec. 45Q for 2024. The inflation adjustment factor is 1.3877, and the...

CA - FTB's authority to use electronic communication methods extended
The California Franchise Tax Board (FTB) may continue to implement an alternative communication method, which allows taxpayers to receive notifications via preferred electronic methods when a notice, ...

CO - Adjustments to financial support for low-income individuals based on need
Colorado has enacted changes to the Property Tax/Rent/Heat Credit Rebate (PTC) which is available to qualifying seniors and individuals with a disability who earn income below a threshold amount and w...

CT - 2024-2025 conversion factors for motor vehicle fuels in gaseous form announced
The conversion factors used in the computation of Connecticut motor vehicle fuels tax occurring in gaseous form effective July 1, 2024, through June 30, 2025, are announced. Conversion factors: (1) ar...

DE - Rules adopted on refund intercept claims from other states
Delaware adopted rules that provide guidance on tax refund intercept requests from other states, including:access to information contained in a taxpayer's Delaware and federal personal income tax retu...

DC - Dismissal of taxpayers action challenging validity of corrected special assessment reversed
For District of Columbia property tax purposes, the trial court erred in dismissing an action brought by the taxpayers in April 2018 challenging the validity of a corrected special assessment levied a...

FL - Guidance issued on affidavit required to claim exemption for boats sold to nonresident purchasers
Guidance is issued regarding changes that have been made to the affidavit required to claim the sales tax exemption for boats sold by registered dealers to nonresident purchasers for removal from Flor...

GA - Rules on registration of multipurpose off-highway vehicles adopted
For sales and use tax purposes, Georgia adopted new rules pertaining to the registration of multipurpose off-highway vehicles (MPOHVs). The rules detail the procedures that county tag offices must fol...

HI - Research activities tax credit criteria narrowed, sunset date extended
The Hawaii income tax credit available to qualified high technology businesses for research activities has been amended to:repeal a provision that made references to the base amount in the Internal Re...

MA - Sports wagering income, other changes in appropriations law explained
Massachusetts issued guidance explaining changes contained in 2023 supplemental appropriations legislation that:added a personal income tax deduction for sports wagering losses;established sourcing an...

MN - Rule updates proposed reflecting tax simplification and other changes
Montana has proposed numerous updates to the personal income tax rules in order to align them with various law changes. For example, because of previously enacted tax simplification, the updates would...

MT - Reminder issued on PTET overpayments
Montana issued a reminder concerning pass-through entity tax (PTET) returns that push PTET overpayments to affected owners. Overpayments of the PTET cannot be allocated to affected owners. When a pass...

NJ - Corporate transit fee guidance issued
New Jersey has release guidance regarding its recently adopted corporate transit fee. The guidance discusses:separate and combined group filing;filing returns; andpenalties and interest.Corporate Tran...

NY - Unemployment compensation properly included in adjusted gross income
A New York personal income taxpayer’s petition with the Division of Tax Appeals in protest of the notice of deficiency was denied because she did not meet her burden of establishing that the notice ...

NC - Taxpayer’s petition barred by state’s sovereign immunity
A taxpayer’s petition challenging a North Carolina sales and use tax assessment was barred by the doctrine of sovereign immunity because the petition was untimely filed. In this matter, the taxpayer...

PA - Provisions regarding real estate tax sale law amended
Pennsylvania has adopted legislation amending the act of July 7, 1947, known as the Real Estate Tax Sale Law by adding a section establishing a county demolition and rehabilitation fund. The legislati...

TX - Guidance on mixed beverage taxes issued
The Texas Comptroller of Public Accounts issued a publication discussing the applicability of mixed beverage tax. The publication discusses that a mixed beverage permittee must (1) pay a 6.7% mixed be...

VT - Downtown and village center program credit modified
Vermont has revised the Downtown and Village Center Program Tax Credit to increase the maximum credit from $50,000 to $100,000 for combined costs of certain qualified code improvements, and from $75,0...

VA - Guidance on one-time safe harbor for omitted and erroneously remitted taxes to contractors issued
Virginia has issued a bulletin regarding the one-time safe harbor for omitted and erroneously remitted retail sales and use taxes to contractors. Effective July 1, 2024, the Department of Taxation is ...

WA - Taxpayer not subject to tax and reseller permit misuse penalty
A limited liability company (taxpayer) was not subject to Washington use tax on the purchase of an aircraft because the transaction was an exempt purchase for resale. The taxpayer was specifically for...

WY - Local lodging tax rate change announced
Beginning October 1, 2024, lodging vendors in Niobrara County, Wyoming within the boundaries of the town of Lusk impose a 13% tax on lodging services (6% sales tax and 7% lodging tax). Taxing Issues,...

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