Tax Alerts

Tax Briefing(s)

White House Budget

2012 Tax Year-in-Review

American Taxpayer Relief Act of 2012

Overall individual taxpayer audit rate drops for fiscal year 2012, along with IRS budget
The IRS recently issued its annual Data Book for fiscal year (FY) 2012, which provides the most recent statistical information on examinations, collections and other activities. The IRS's compariso...

Report describes seasonal workers, variable hour employees under healthcare reform’s Employer Mandate
The Patient Protection and Affordable Care Act (PPACA) requires certain “applicable large employers” that do not offer affordable, minimum essential health care coverage to their full-t...

Shareholder must reduce basis in S corp in first year basis adequate to absorb suspended losses
The U.S. Court of Appeals for the District of Columbia Circuit recently affirmed the Tax Court's decision that the Tax Code requires a married couple to reduce their basis in an S corp to account f...

IRS issues final rules on broker reporting of debt instruments and options
The IRS has issued final, temporary and proposed regulations on the requirement that brokers report the basis of debt instruments and options that they sell on behalf of customers. The regulations ...

Medical clinic’s “advances” to newly hired physicians were compensation and not loans
A medical clinic attempted to avoid its liability for employment taxes on compensation paid to newly hired physicians by classifying the payments as "loans." The clinic offered the loans in the amo...

IN - Some sales to foreign country subject to throwback rule
The Indiana throwback rule was applicable to some of a company’s sales of items shipped to various foreign countries. The company was a manufacturer of precision food cutting...

KY - Third-party purchaser complied with requirements for notice to owner
The Kentucky Court of Appeals reversed a circuit court ruling denying the ability of a third-party purchaser of delinquent property tax bills (appellant) to recover penalties, inte...

OH - House passes bill containing click-through, affiliate nexus provisions
Legislation has been passed in the Ohio House of Representatives that would, if enacted, add click-through and affiliate nexus provisions to the sales and use tax laws....

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