In yet another attack on the India-Mauritius Tax Treaty (a time-honored route for inbound investment into India), several provisions in the new draft Indian Direct Tax Code (Draft Code), announced on August 12, 2009 and scheduled to come into ...

Attorneys and other tax professionals across the nation can explore Low Income Taxpayer Clinic pro bono opportunities at the IRS.gov site page Continue reading >>

In a case being watched statewide, an Allegheny County, Pennsylvania judge issued a ruling this week setting forth a new reassessment schedule and an unusual assessment method for properties located in that county. The reassessment, which wou ...

U.S. Treasury has published new guidance concerning the exit tax applicable to expatriates and former long-term green card holders.

Congress has resurrected a prior Stimulus Act proposal allowing most taxpayers, not just small businesses, to extend the NOL carryback period under section 172 for up to five years for 2008 and 2009 NOLs.  However, the extended carryback ...

Congress recently passed and President Obama signed legislation that significantly expands the number of taxpayers that can carry back federal tax net operating losses (NOL) up to five years.

A tax amnesty has been enacted for eligible Pennsylvania taxes that are delinquent as of June 30, 2009. Act 48 of 2009 (H.B. 1531). A delinquency includes liabilities for returns not filed, liabilities of record, and liabilities not reported ...

In Chief Counsel Advice 200942038 (June 26, 2009), the Internal Revenue Service (the Service) reiterated its position on the tax consequences to all the parties involved when a parent corporation (or taxpayer) pays employees of the parent&rsq ...

High Court ruling on legal advice privilege means that advice given on tax law from accountants and other non-lawyers is vulnerable to disclosure; taxpayers should consider including lawyers from an early stage in any projects. ...

President Obama's tax reform task force on October 16 heard from a proponent of creating IRS-prepared tentative tax returns, an idea that some say could inexpensively make a significant dent in the tax gap. Stanford Law School Prof. Joseph ...

Recent decision by the European Court of Justice declares that a stamp duty reserve tax levied by HM Revenue & Customs contravenes European Council Directive 69/335/EEC and is unlawful. Continue reading >>

This summer the District of Columbia’s chief financial officer projected revenue decreases of hundreds of millions of dollars a year for the next four years, ...

In Private Letter Ruling (PLR) 200930025, a publicly traded holding corporation used a novel transaction to unlock certain tax benefits related to net operating lo ...

There is nothing that a company can do to avoid being targeted under this audit, but there are certain measures that companies can take in response to the dramatic shift in the way the IRS will be policing employment tax compliance. < ...

Dear Mr. Volcker: As you well know, there are many causes of the financial crisis. But one that is frequently overlooked is the tax code. Numerous provisions in our tax laws provide incentives for risk taking and risky activities that direc ...