IRS Clarifies Treatment of Refunds with New SALT Limits The IRS has provided four examples of the interaction of the new limit on the deduction on state and local taxes (SALT) under Code Sec. 164(b)(6) with the tax benefit rule for refunds under&...
Plug-In Electric Vehicle Credit to Phase Out for GM Vehicles The tax credit for new qualified plug-in electric drive motor vehicles sold by General Motors, LLC, will begin to phase out April 1, 2019. The credit begins to phase out in the second calendar quarter...
2019 Foreign Housing Expense Limitations Released The IRS has provided the adjustments to the limitation on foreign housing expenses for specific locations for tax year 2019. Generally, a qualified individual whose entire tax year is within the appli...
IRS Revises EIN Application Process As part of its ongoing security review, the IRS is revising the application process for obtaining an employer identification number (EIN). Starting May 13, 2019, only individuals with social security ...
IRS Issues 2018 Nonconventional Source Fuel Reference Price The IRS has published the nonconventional source fuel reference price for calendar year 2018. The credit period for the nonconventional source production credit under Code Sec. 45K ended on ...
KS - Publication for new businesses updated The Kansas DOR has updated its sales and use tax publication for new businesses.Publication UpdateThe publication is updated to reflect that as of April 1, 2019, cereal malt beverage (CMB) permit hold...
MO - Interest rate on refunds increased for third quarter of 2019 The interest rate on all qualifying Missouri tax refunds is increased from 1.7% to 1.9% for the period from July 1, 2019 through September 30, 2019. Statutory Interest Rates, Missouri Department ...
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