Our International Tax Group analyzes the report on the IRS’s Advance Pricing and Mutual Agreement Program and identifies important insights and trends for advance pricing agreements. Effects of the COVID-19 pandemic on APMA operations and … [Continue reading] about IRS APMA’s Results May Suggest COVID-19 Immunity
New York’s FY 2022 Budget Bill Crosses Finish Line
New York State’s budget bill is on the governor’s desk. Our State & Local Tax Group provides the most significant highlights for you and your business. Higher tax rates for the wealthy, lower tax rates for the middle classCorporations will see … [Continue reading] about New York’s FY 2022 Budget Bill Crosses Finish Line
Borrowers Beware: Short Sales of Distressed Assets May Have Unfavorable Tax Consequences
Beware of being shortsighted. Last week, our Federal Tax Group takes the long view for borrowers and their creditors seeking to use short sales to extricate themselves from nonrecourse debt. What is a short sale?Is the short sale one integrated … [Continue reading] about Borrowers Beware: Short Sales of Distressed Assets May Have Unfavorable Tax Consequences
Top Unclaimed Property Regulatory and Enforcement Challenges in 2021
State governments’ quest for revenue in the wake of the pandemic will only heighten their focus on unclaimed property. Our Unclaimed Property Team highlights the consumer protection and privacy risks facing companies when states use third-party … [Continue reading] about Top Unclaimed Property Regulatory and Enforcement Challenges in 2021
If at First You Don’t Succeed, Try, Try Again to Enact the Nation’s First Digital Advertising Services Tax
Maryland has enacted a tax on revenues derived from digital advertising services, effective this year. Our State & Local Tax Team breaks down how the tax will be applied but questions whether it can survive legal challenges. What are “digital … [Continue reading] about If at First You Don’t Succeed, Try, Try Again to Enact the Nation’s First Digital Advertising Services Tax