CCH Tax Day Report For purposes of the Tennessee corporate franchise and excise taxes, a financial institution should include the trusts in its financial institution affiliated group because it had represented that the trusts were financial institutions and were members of the unitary group. However, the trusts’ net earnings, assets and liabilities should be excluded […]

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CCH Tax Day Report For taxes it administers, the Pennsylvania Department of Revenue (DOR) has amended its 2017 Amnesty Program Guidelines as it relates to the most recent periods eligible for amnesty for the vehicle rental tax. The period was changed from “Jan. 1—Dec. 31, 2014; due 2/2/15” to “Third Quarter 2015; due 10/20/15.” The […]

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CCH Tax Day Report Oklahoma legislation authorizes sales tax credits for approved entities that create or expand certain tourism attractions in the state. Entities that spend more than $500,000 but less than $1 million in approved costs of a tourism attraction project can receive a credit against sales tax of up to 10% of their […]

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CCH Tax Day Report The House voted along party lines on May 4 to approve a repeal and replacement plan for the Patient Protection and Affordable Care Act (ACA) (P.L. 111-148). The American Health Care Act (AHCA) (HR 1628), approved by a 217-to-213 margin, would eliminate most of the ACA’s taxes, including the penalties connected […]

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CCH Tax Day Report The House approved the American Health Care Act (AHCA) (HR 1628). Lawmakers heard testimony about the IRS Data Retrieval Tool (DRT). The IRS reminded employers about the Work Opportunity Tax Credit (WOTC) and the research credit. White House President Trump signed an Executive Order regarding tax-exempt organizations (TAXDAY, 2017/05/05, W.1). Congress […]

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CCH Tax Day Report The House on May 4 approved the American Health Care Act (AHCA) (HR 1628) by a 217-to-213 vote (TAXDAY, 2017/05/05, C.1). The bill proposes to repeal or delay all of the taxes associated with the Patient Protection and Affordable Care Act (ACA) (P.L. 111-148). Many of the effective dates for tax-repeal […]

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