December 19, 2017 – Tax News / Links

President Trump congratulated House Republicans on Tuesday shortly after they passed a final version of the GOP tax-reform plan. The measure passed the House in a 227-203 vote,…

Legislation

House and Senate Republicans are set to pass Trump’s massive tax overhaul today

WASHINGTON — The House and Senate were poised Tuesday to approve the most significant overhaul of the tax code in three decades, giving Republicans their first major…

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Sale of Stock Subject to New Mexico Apportionment – Tax & Accounting Blog

A New Mexico taxpayer’s gain from sale of its interest in a public company was business income subject to apportionment. The income was subject to…

State Tax Headlines Tax Headlines

Montana Updates Apportionment Rules – Tax & Accounting Blog

Income apportionment rules have been adopted and amended by the Montana Department of Revenue. These rules affect multistate corporate taxpayers. Finnigan Rule The department has…

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Federal, State Disaster Tax Relief Book on Sale Now

It has been a banner year for natural disasters. Whether you or your clients suffered from flood or flame, you need to know what relief…

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New Federal and State Cannabis Taxation Guidebook Available – Tax & Accounting Blog

States are legalizing cannabis, or marijuana, while cannabis remains illegal under federal law. Wolters Kluwer has put all the state and federal tax laws in…

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Proposed Regs Issued on Foreign Currency Gain or Loss of CFCs and Mark-to-Market Election (NPRM REG-119514-15) – Tax & Accounting Blog

The Treasury and IRS have issued proposed regulations (NPRM REG-119514-15). These proposals address how to treat the foreign currency gain or loss of a controlled foreign corporation (CFC)…