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Taxation

Home /Taxation
Featured

ICYMI | What to Do About Estate Planning Now

Contemplating the Impact of Proposed Legislation

By  Martin Shenkman, JD, CPA/PFS, AEP

July 2021 0

The past year was a wild one for estate planning, as high-net-worth individuals raced to complete planning before the end of the year, not knowing…

Featured

ICYMI | First Look at the Tax Provisions of the New York State 2021/2022 Budget Act

By  Mark H. Levin, CPA, MST, Corey L. Rosenthal, JD and Peter Rabinowitz, JD

July 2021 0

On April 7, 2021, the New York State Assembly passed the comprehensive New York State 2021/2022 Budget Act, which Governor Andrew Cuomo subsequently signed it…

Featured

What to Do About Estate Planning Now

Contemplating the Impact of Proposed Legislation

By  Martin Shenkman, JD, CPA/PFS, AEP

June 2021 0

The past year was a wild one for estate planning, as high-net-worth individuals raced to complete planning before the end of the year, not knowing…

Featured

The Exodus from New York due to COVID-19

Income Tax Residency Considerations

By  Corey L. Rosenthal, JD and Lance E. Rothenberg, JD, LLM

June 2021 0

The coronavirus (COVID-19) pandemic has significantly impacted nearly everything, including businesses, individuals, and CPAs grappling with its effects upon state and local taxation. (Please see…

Uncategorized

Navigating the IRS’s Self-Dealing Rules for Private Foundations

By  Usman Mohammad, JD and Emma Westerhof

June 2021 0

The Donald J. Trump Foundation was undone by alleged acts of self-dealing involving its namesake, Donald J. Trump, who also allegedly used the foundation to…

Featured

Tax Changes for Businesses in the American Rescue Plan Act

By  Sidney Kess, JD, LLM, CPA, Joseph Buble, CPA and James R. Grimaldi, CPA

June 2021 0

The $1.9 trillion American Rescue Plan Act (ARPA) of 2021 (PL 117-2) was signed into law on March 11, 2021. The wide-ranging law contains many…

Featured

Tax Changes for Individuals in the American Rescue Plan Act

By  Sidney Kess, JD, LLM, CPA, Joseph Buble, CPA and James R. Grimaldi, CPA

June 2021 0

The $1.9 trillion American Rescue Plan Act (ARPA) of 2021 (PL 117-2) was signed into law on March 11, 2021. The wide-ranging law contains many…

Featured

First Look at the Tax Provisions of the New York State 2021/2022 Budget Act

By  Mark H. Levin, CPA, MST, Corey L. Rosenthal, JD and Peter Rabinowitz, JD

May 2021 0

On April 7, 2021, the New York State Assembly passed the comprehensive New York State 2021/2022 Budget Act, which Governor Andrew Cuomo subsequently signed it…

Featured

The Impact of the U.S. Supreme Court’s Decision in South Dakota v. Wayfair

Compliance Challenge for Small and Medium-Sized Businesses

By  Eugene T. Maccarrone, JD, CPA

April 2021 0

In Brief The recent Supreme Court decision in South Dakota v. Wayfair will expand retailers' responsibilities to collect sales taxes on out-of-state purchases. Although the Court's rationale…

Featured

Life Insurance Planning in 2021

By  Lee Slavutin, MD, CLU, AEP

April 2021 0

Time-sensitive circumstances make estate and insurance planning in 2021 an important consideration. The three major factors that will influence planning in the coming months are…

Featured

ICYMI | Tax Software in the COVID-19 Environment

2020 Annual Survey of New York State Practitioners

By  Susan B. Anders, PhD, CPA/CGMA and Carol M. Fischer, PhD, CPA, CGMA

April 2021 0

In Brief The 2020 tax season was unlike any other, with a global pandemic requiring virtually all tax preparers to work from home, often while…

Featured

Changes to ‘Business Activity’ on the Horizon?

Revisions Proposed by the Multistate Tax Commission

By  Corey L. Rosenthal, JD, Arvinder Kaur, CPA and Dilnora Isaeva, CPA

April 2021 0

Although the Supreme Court's decision in South Dakota v. Wayfair [585 US _ (2018); 138 S. Ct. 2080 (2018)] significantly increased the state and local tax…

Featured

Tax Changes for Businesses in the Consolidated Appropriations Act of 2021

By  Sidney Kess, JD, LLM, CPA, Joseph Buble, CPA and James R. Grimaldi, CPA

March 2021 0

The Consolidated Appropriations Act of 2021 (CAA) (P.L. 116-260) funds the government for its fiscal year ending September 30, 2021, and makes major tax changes…

Featured

Tax Changes for Individuals in the Consolidated Appropriations Act of 2021

By  Sidney Kess, JD, LLM, CPA, Joseph Buble, CPA and James R. Grimaldi, CPA

March 2021 0

The Consolidated Appropriations Act of 2021 (CAA) (H.R. 133), which has become notorious for its length of 5,593 pages, funds the government for its fiscal…

Featured

Tax Treatment of Liquidations of Partnership Interests

By  Eric Smith

February 2021 0

The liquidation of a partner's entire partnership interest can take various forms, including payment made by the partnership to the retiring partner in complete redemption…

Featured

Tax Treatment of Liquidations of Partnership Interests

By  Eric Smith

February 2021 0

The liquidation of a partner's entire partnership interest can take various forms, including payment made by the partnership to the retiring partner in complete redemption…

Featured

Tax Software in the COVID-19 Environment

2020 Annual Survey of New York State Practitioners

By  Susan B. Anders, PhD, CPA/CGMA and Carol M. Fischer, PhD, CPA, CGMA

February 2021 0

In Brief The 2020 tax season was unlike any other, with a global pandemic requiring virtually all tax preparers to work from home, often while…

Featured

Tax Compliance and Taxpayer Mood

Will COVID-19 Lead to an Epidemic of Tax Cheating?

By  Edward J. Lynch, PhD, CPA and Jon Durrant, PhD, CPA

February 2021 0

In Brief The voluntary tax system in the United States rests largely upon the willingness of taxpayers to pay their fair share. The authors examine…

Featured

Planning for 2020 by Looking Back to 2012

By  Martin Shenkman, JD, CPA/PFS, AEP

December 2020 0

The year 2012 was monumental for estate and retirement planning. Individuals flooded advisors' offices in the latter part of the year to make gifts to…

Featured

Recent New York Sales Tax Litigation Leaves Auto Dealership at Side of Road

By  Corey L. Rosenthal, JD and Lance E. Rothenberg, JD, LLM

December 2020 0

Routine corporate transactions, including mergers, acquisitions, and reorganizations, can carry significant sales and use tax consequences. If transactions, including intercompany transfers, are not properly evaluated…

Featured

Proposed Regulations Provide Guidance on Deducting Fines and Penalties Paid to the Government

Important Questions Still Remain

By  Kevin M. Flynn, JD

October 2020 0

Since 1969, Internal Revenue Code (IRC) section 162(f) has disallowed an ordinary and necessary business deduction in computing taxable income for any civil or criminal…

Featured

COVID-19 and the ‘Great Lockdown’

Telework Multistate Tax Considerations

By  Corey L. Rosenthal, JD and Lance E. Rothenberg, JD, LLM

September 2020 0

The COVID-19 pandemic has had a profound impact on, well, nearly everything, including businesses, individuals, and CPAs grappling with its effects upon state and local…

Featured

Ten Questions on COVID-19 and Charitable Giving

By  Lori Rothe Yokobosky, CPA, MST,

September 2020 0

The COVID-19 pandemic has raised many questions about charitable giving and on the timing of required filings for many exempt organizations. Many of those questions…

Featured

Reporting Foreign Accounts on the FBAR versus Form 8938

Differences, Similarities, and Traps to Avoid

By  Usman Mohammad, JD

September 2020 0

Because U.S. taxpayers are required to report and pay taxes on their worldwide income, the U.S. government has fought to compel taxpayers to report their…

Featured

ICYMI | COVID-19 and Charitable Contributions by Individuals and Businesses

By  Sidney Kess, JD, LLM, CPA

August 2020 0

The pandemic has put many people and businesses in need of help. The federal government has responded by enacting Economic Impact Payments, Paycheck Protection Program…

Featured

Current Tax Issues in the Cloud

Sales of Software versus Services in Citrix

By  Corey L. Rosenthal, JD and Lance E. Rothenberg, JD, LLM

July 2020 0

Proper sales tax compliance can be daunting for any business, but the complexities increase when dealing with the software and technology industries in particular. By…

Featured

When Money Costs Too Much

Section 8300 Filing Requirements and Penalties

By  Megan L. Brackney, JD, LLM (Tax)

July 2020 0

The Internal Revenue Code and the Bank Secrecy Act (BSA) require that persons engaged in a trade or business file Form 8300, Report of Cash…

Featured

COVID-19 and Charitable Contributions by Individuals and Businesses

By  Sidney Kess, JD, LLM, CPA

July 2020 0

The pandemic has put many people and businesses in need of help. The federal government has responded by enacting Economic Impact Payments, Paycheck Protection Program…

Web Exclusive

COVID-19 and the ‘Great Lockdown’

Telework Multistate Tax Considerations

By  Corey L. Rosenthal, JD and Lance E. Rothenberg, JD, LLM

July 2020 0

The COVID-19 pandemic has had a profound impact on, well, nearly everything, including businesses, individuals, and CPAs grappling with its effects upon state and local…

Featured

Deposit Insurance Offers a Safe Haven

By  Sidney Kess, JD, LLM, CPA and Julie Welch, CPA, PFS, CFP

June 2020 0

Good times or bad, it is vital for investors to hold cash reserves. Federal deposit insurance provides an extra layer of comfort, so it is…

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  • CPAJ News Briefs: FASB, IASB, GASB June 2023
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