Rates Used in Computing Special Use Value Issued (Rev. Rul. 2016-19)
CCH Tax Day Report A listing of the average annual effective interest rates on new loans under the Farm Credit System has been issued by…
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Senate Republicans Ask Treasury for Answers on Proposed Debt-Equity Regulations
CCH Tax Day Report A group of Senate Finance Committee Republicans sent Treasury Secretary Jack Lew a second letter on August 24 expressing concerns regarding…
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Louisiana ~ Sales and Use Tax: 2nd Amendment Weekend Tax Holiday Set for Sept. 2-4
The 2016 Louisiana Second Amendment Weekend Sales Tax Holiday will take place Friday, September 2, through Sunday, September 4, 2016. During this three-day period, a…
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California ~ Sales and Use Tax: BOE Continues to Consider Changes to Technology Transfer Agreement Regulation
The California State Board of Equalization (BOE) continues to conduct meetings regarding possible amendments to sales and use tax regulations regarding technology transfer agreements (Regulation…
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New Self-Certification Procedure for People Making IRA and Retirement Plan Rollovers (IR-2016-113; Rev. Proc. 2016-47)
The IRS has provided a self-certification procedure designed to help recipients of retirement plan distributions who inadvertently miss the 60-day time limit for properly rolling…
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Proposed Rules Remove Anti-Money Laundering Exemption for Private Banks, Trust Companies (RIN 1506-AB28)
The Financial Crimes Enforcement Network (FinCEN) has issued proposed regulations that remove the anti-money laundering program exemption for banks that lack a federal functional regulator,…
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CBO Updates 2016-2026 Budget/Economic Outlook; Income Tax Collected from Individuals to Rise in 2016, but Will Drop for Corporations
The Congressional Budget Office (CBO) on August 23 released its revised economic report: “An Update to the Budget and Economic Outlook: 2016 to 2026.” The…
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District of Columbia ~ Multiple Taxes: Changes and Benefits Under MyTax.DC.gov Discussed
CCH Tax Day Report The District of Columbia Office of Tax and Revenue has issued a press release for corporate income, personal income, and sales…
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Colorado ~ Tobacco Tax: Tobacco Tax Increase on November Ballot
CCH Tax Day Report Colorado Secretary of State Wayne Williams has announced that a proposal that would triple the taxes on a pack of cigarettes…
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California ~ Sales and Use Tax: Regulation Regarding Newspapers and Periodicals Amended
CCH Tax Day Report A California regulation regarding newspapers and periodicals is amended to clarify the application of sales and use tax to lump-sum charges…
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