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The Internal Revenue Service recently released its 2018 Data Book, which summarizes that agency’s operating activity for fiscal-year 2018 (October 1, 2017 through September 30, 2018). Always interesting, the Book
An occasionally-discussed income tax concept relating to capital gains is being revived by the top-ranking Democrat on the Senate Finance Committee, Oregon Senator Ron Wyden. Wyden is proposing that certain
This week a bipartisan measure was passed by House Ways and Means Committee members. The bill includes measures designed to protect taxpayers from unfair practices and improve Internal Revenue Service
On March 21, 2019, the U.S. Court of Appeals upheld a ruling that Wilmington Trust NA, (Wilmington Trust) a “premier provider of wealth and institutional client services for M&T Bank,”
Historically, individual taxpayers have been allowed an itemized income tax deduction for one hundred (100) percent of all state and local income taxes paid in a calendar year. The amounts
One of the most discussed provisions of the Tax Cuts and Jobs Act (TCJA), which was enacted in December 2017, is the addition of the Qualified Business Income (QBI) deduction
As April 15th (the annual D-Day for U.S. taxpayers) is rapidly approaching, confusion still exists as to how to properly substantiate a donation or charitable contribution to a qualifying tax-exempt
In years prior to 2019, and the enactment of the Tax Cuts and Jobs Act (TCJA), taxpayers were accorded an “unlimited” federal income tax deduction for all state and local
Not subject to as much media attention as federal income tax legislation, the state impacts resulting from the enactment of federal legislation always poses budgetary challenges for leadership in those
One of the more controversial provisions of the Tax Cuts and Jobs Act (TCJA) enacted in December, 2017, is the provision affecting the disallowance of certain fringe benefits deductions. Importantly,
The Internal Revenue Service (IRS) has released corrected final regulations on the new Qualified Business Income (QBI) deduction under Internal Revenue Code (IRC) section 199A. Included in these revised regulations
Recently, Pennsylvania adopted an economic nexus standard with respect to determining whether an out-of-state entity is required to register for a license and subsequently collect, report and remit Pennsylvania Sales
