CCH Tax Day Report Minnesota Gov. Mark Dayton has signed an omnibus tax bill that makes a number of changes to corporate franchise (income) and personal income taxes, including establishing new subtraction modifications, new credits, and requiring electronic filing of corporate, partnership, and fiduciary returns for certain professional tax preparers. Details are discussed below. Subtraction […]

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CCH Tax Day Report The Michigan Department of Treasury has issued a Revenue Administrative Bulletin describing the computation and uses of a net operating loss deduction (NOL) for Michigan personal income tax purposes and the impact of a federal NOL on Michigan personal income tax credits. The Michigan and federal NOLs are distinct because itemized […]

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CCH Tax Day Report The Massachusetts Department of Revenue has issued a Technical Information Release (TIR) explaining supplemental budget legislation that enacted changes to the filing due dates for Massachusetts partnership and corporate income tax returns to conform to federal due date changes for those returns (TAXDAY, 2017/04/03, S.20). Effective beginning with returns due on […]

The post Massachusetts ~ Corporate Income Tax, Practice and Procedure: Changes to Filing Due Dates for Partnership and Corporate Income Tax Returns Announced appeared first on Tax & Accounting Blog.

CCH Tax Day Report The Supreme Court has held that a plan maintained by a principal-purpose organization qualifies as a “church plan”, regardless of who established it. The Employee Retirement Income Security Act of 1974 (ERISA) generally obligates private employers offering pension plans to adhere to an array of rules designed to ensure plan solvency […]

The post A Church Plan Includes Plans Maintained or Established by Principal Purpose Organization (Advocate Health Care Network v. Stapleton, SCt.) appeared first on Tax & Accounting Blog.

CCH Tax Day Report The Tax Court lacked jurisdiction over an individual’s untimely petition to review the IRS’s denial of his whistleblower claim. The taxpayer received five letters over a span of 12 months denying his claim and each letter constituted an appealable determination. While the taxpayer could not recall exactly when he received each […]

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While it may seem like a document management software is simply a complex way to find and store files, the reality is that a DMS can actually help improve client satisfaction dramatically. In a recent Accounting Today webinar titled “Document Management: The Client Service Connection,” Wolters Kluwer product line manager Damon Russel explained the various ways […]

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