A recent U.S. Supreme Court ruling will affect how Congress writes tax legislation. Read this edition of From the Hill for more information on recent tax-related happenings: https://bit.ly/3xQbKiv
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The Massachusetts Legislature has enacted significant tax reform legislation, which Gov. Healey signed after the House of Representatives and Senate reconciled their versions in a conference committee report. The new legislation is Chapter 50 of the Acts of 2023. The new law, which had been before the Legislature for approximately 20 months and across two governorships, includes significant tax changes, largely in the form of reduced taxes, for both individuals and corporations. Read more in this #GTAlert by Bob Ross: https://buff.ly/3toid1J. #MassachusettsLaw #GTBoston #TaxReform
Massachusetts Governor Signs Tax Reform Bill with Significant Individual, Corporate Tax Changes | Insights | Greenberg Traurig LLP
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Rich Jones will moderate a panel discussion at the National Association of State Bar Tax Sections (NASBTS) 44th Annual Conference on September 30, 2023 in Washington D.C. Rich's panel will examine the legal and practical issues that state tax practitioners face in the post-Wayfair environment. The discussion will provide guidance to help taxpayers navigate the new standard, focusing on state approaches to implementing the decision, tax planning opportunities, and handling tax controversies. Learn more and register: https://lnkd.in/e7-PhC-m #WhatsYourNext
Wayfair: Five Years Out – Legal and Practical Issues
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Rich Jones will moderate a panel discussion at the National Association of State Bar Tax Sections (NASBTS) 44th Annual Conference on September 30, 2023 in Washington D.C. Rich's panel will examine the legal and practical issues that state tax practitioners face in the post-Wayfair environment. The discussion will provide guidance to help taxpayers navigate the new standard, focusing on state approaches to implementing the decision, tax planning opportunities, and handling tax controversies. Learn more and register: https://lnkd.in/ekaD8Bqx #WhatsYourNext
Wayfair: Five Years Out – Legal and Practical Issues
sullivanlaw.com
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Rich Jones will moderate a panel discussion at the National Association of State Bar Tax Sections (NASBTS) 44th Annual Conference on September 30, 2023 in Washington D.C. Rich's panel will examine the legal and practical issues that state tax practitioners face in the post-Wayfair environment. The discussion will provide guidance to help taxpayers navigate the new standard, focusing on state approaches to implementing the decision, tax planning opportunities, and handling tax controversies. Learn more and register: https://lnkd.in/gGEKVW49 #WhatsYourNext
Wayfair: Five Years Out – Legal and Practical Issues
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August’s SALT developments included a healthy mix of guidance released by state and local tax authorities, along with binding decisions from tax tribunals, and courts. Be sure to read through the article to see state changes that impact your business!
State and local tax news for August 2023 | Grant Thornton
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Rich Jones will moderate a panel discussion at the National Association of State Bar Tax Sections (NASBTS) 44th Annual Conference on September 30, 2023 in Washington D.C. Rich's panel will examine the legal and practical issues that state tax practitioners face in the post-Wayfair environment. The discussion will provide guidance to help taxpayers navigate the new standard, focusing on state approaches to implementing the decision, tax planning opportunities, and handling tax controversies. Learn more and register: https://lnkd.in/er8_QXEa #WhatsYourNext
Wayfair: Five Years Out – Legal and Practical Issues
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Urgent.. Cabinet approves draft law on renewing the law on ending tax disputes The Council of Ministers approved during its meeting today, headed by Dr. Mostafa Madbouly, a draft law on the renewal of Law No. 79 of 2016 on ending tax disputes, and the draft law comes within the framework of efforts to reduce tax disputes and speed up their settlement, reduce the financial burdens borne by tax financiers and stabilize their tax and financial positions in light of the economic conditions that the world is going through, and the draft law comes as a continuation of the approach taken by the Ministry of Finance towards approving a tax policy that achieves a balance between the rights of The draft law stipulates: "Renewal of the provisions and procedures stipulated in Law No. 79 of 2016 regarding the termination of tax disputes, as amended by Laws No. 14 of 2018, 174 of 2018, 16 of 2020, 173 of 2020, and 153 of 2022, until the end of January 2025, to allow financiers and taxpayers to submit requests to end tax disputes pending or circulating before the appeal committees. The committees formed in accordance with the provisions of Law No. 79 of 2016, referred to in the consideration of applications that have not been decided, will continue to adjudicate new applications submitted to them in accordance with the provisions of this law until the end of January 2025. #Egypt #tax
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Principal, Jackel Tax Law; Author: Jackel Tax Law blog; Contributor Tax Notes; Member, ALI; Fellow, ACTC.
Judge Buch is just wrong on this one. I wrote about this issue very recently in Tax Notes. See https://lnkd.in/eFpRdr2Z. I stated in that letter: "This issue has been festering for some time now. The end result of this controversy should be some form of functional or active participation test to be subject to SECA tax. But how you get there is open to serious debate....Case-by-case litigation is the wrong approach — it is time consuming and expensive. The IRS failed to act on the proposed 1997 regulations since the congressional moratorium expired in 1998. Two to three decades later, the IRS is finally taking action in its decision to issue new proposed SECA limited partner regulations....The meaning of the term “limited partner” was clear when the statute was first enacted in 1977. Those words “limited partner” — or as Tax Court Judge Ronald Buch put it, “limited partner, as such” — had a meaning in 1977 and statutory construction would tell you that those words mean the same thing today. When the Internal Revenue Code uses clear and unambiguous text, as is the case for section 1402(a)(13), that should be the end of the matter. Should is the operative word here. The fact that Congress did not act in almost 50 years to change the statute when the underlying state law changed to a significant degree in the interim period is not the fault of taxpayers and their advisers. Without action by Congress, there will undoubtedly be continued litigation about the authority of the IRS to issue the regulations they are now threatening to issue....Those regulations should not be proposed now. Given all of the time that has already passed without definitive action, the IRS and Treasury should give Congress one last chance to enact legislation to put the issue to rest." If the IRS goes forward, a Congressional moratorium should be issued just as happened almost three decades ago.
Tax Court Judge Explains Why Labels Don’t Control in SECA Cases | Tax Notes
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Rich Jones will moderate a panel discussion at the National Association of State Bar Tax Sections (NASBTS) 44th Annual Conference on September 30, 2023 in Washington D.C. Rich's panel will examine the legal and practical issues that state tax practitioners face in the post-Wayfair environment. The discussion will provide guidance to help taxpayers navigate the new standard, focusing on state approaches to implementing the decision, tax planning opportunities, and handling tax controversies. Learn more and register: https://lnkd.in/dmGhye9V #WhatsYourNext
Wayfair: Five Years Out – Legal and Practical Issues
sullivanlaw.com
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"On Dec. 31, 2025, critical parts of the 2017 federal tax law are scheduled to expire. After that sunset, they would revert to what they would have been if that sweeping tax legislation, passed in the first year of the Trump administration, had never taken effect." https://buff.ly/3xjk4Xu #TaxCode #TaxPlanning #estateplanning
The Core of the Tax Code Will Change, but We Don’t Know How
https://www.nytimes.com
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