Tax Updates

Effective October 1, 2019, Connecticut is raising its sales and use tax rate for sales of software and digital goods from 1% to 6.35%. These changes can affect individuals and…

Sales and Use tax rate changes have been implemented in Westchester County (except Mount Vernon, New Rochelle and White Plains) which had a tax rate of 7 3/8% through July…

Final regulations have been issued for Sec. 199A to guide taxpayers and tax professionals on how to implement the new qualified business income (QBI) deduction, created by the Tax Cuts…

New York and California have both adopted provisions that will require E-Commerce facilitators/providers (i.e. Amazon, eBay, etc.) to collect and remit sales tax on taxable sales made by businesses who…

The Treasury Inspector General for Tax Administration (“TIGTA”) recently issued a report titled “Tax Cuts and Jobs Act: Assessment of Implementation Efforts”.  The report recommended the IRS revise Form 1040,…

The Tax Cuts and Jobs Act (“TCJA”) established the Qualified Opportunity Zone (“QOZ”) program to encourage investment in economically distressed and low-income communities across the United States, District of Columbia…

New Jersey Governor Phil Murphy signed S1567 into law, requiring employers of 20 or more employees to offer a pre-tax transportation fringe benefit to their employees, covering commuter highway vehicle…

The U.S. Supreme Court’s recent South Dakota v. Wayfair decision holding that internet retailers who sell into a state without having a physical presence could be subject to sales tax…

As the calendar year is coming to a close and President Trump’s Tax Cuts and Jobs Act (TCJA) inches closer to its first year of implementation related to alimony, many…

While 2018 brought no significant changes to 1099 filing requirements, it is important that employers review and understand the existing compliance procedures.  Not only will you face steep penalties for…