Here in Washington, D.C. there has not been any significant action by Congress regarding renewing tax extenders or actual steps toward tax reform. The Senate Finance Committee has focused its attention on bipartisan “Working Groups” to seek feedback and input from stakeholders in how to best reform the federal tax code, and this month the

Senators Ron Wyden (D-OR) and John Hoeven (R-ND) recently introduced a bill designed to increase infrastructure investment through the expansion of private activity bonds and the creation of a new infrastructure tax credit. The Move America Act of 2015 would grant states the authority to raise up to $180 million in tax exempt bonds and

Judge Michael Talbot, Chief Judge of the Michigan Court of Claims, recently dismissed 22 cases involving Michigan single business tax (SBT) refund claims under the Multistate Tax Compact (MTC). EMCO Enterprises Inc. v. Dep’t of Treasury, Case No. 12-000152-MT. The plaintiffs sought to reduce their SBT liability by electing to apportion corporate income using the

On the heels of Senator Marco Rubio’s (R-FL) April 13th presidential announcement, critics have begun to scrutinize both Rubio’s and Jeb Bush’s records and plans to reform the tax code. While both are considered frontrunners to win the Republican nomination for the 2016 presidential race, they differ significantly on their tax policy positions. Even with

The president is proposing a key change with respect to tax regulations for IRAs and retirement plan accounts. Section 401(a)(9) of the Internal Revenue Code requires individuals to begin making taxable withdrawals from their IRAs or retirement plan accounts on April 1 of the calendar year. The withdrawals follow the later of the calendar year

The United States Tax Court recently ruled that shareholders of a Nebraska corporation are liable for their share of the corporation’s unpaid taxes. See William Scott Stuart v. Commissioner, 144 T.C. No. 12 (2015). The relevant parties in the case are Little Salt, a Nebraska C corporation, and MidCoast Investments (MidCoast). In June of 2003,

In Moore v. United States, the court in the Western District of Washington held that the IRS needs to comply with the Administrative Procedure Act (APA) when they are making a determination regarding the amount of penalties assessed for failure to file a Report of Foreign Bank and Financial Accounts (FBAR). The court also held