Searching Content indexed under Tax by Moritt, Hock & Hamroff LLP ordered by Published Date Descending.
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Evolving Cybersecurity Safeguards For Tax Professionals
The Internal Revenue Service recently reminded tax professionals to be on the lookout for phishing emails designed to steal sensitive data, such as user names
United States
9 Sep 2019
IRS Institutes New Data Analytics Protocol For LB&I
It is no surprise, in light of tightened budgets and concerns about low staffing, that the Internal Revenue Service recently announced a development
United States
21 Jun 2019
California Sets New Economic Nexus Threshold
On April 25, 2019, acting on the authority of South Dakota v. Wayfair, 585 U.S. ___ (2018), California Governor Gavin Newsom signed into law Assembly Bill (AB) No. 147.
United States
22 May 2019
Is Income Generation Required For A Business To Qualify As An Active Trade Or Business For Successful Section 355 Spin Off? IRS And The Treasury Department Are Reviewing.
Rev. Rul. 57-464 and Rev. Rul. 57-492 have recently been suspended pending completion of a study by the Treasury Department and Internal Revenue Service concerning the five-year,
United States
16 Apr 2019
New Tax Plan Accelerates Need To Plan For Generational Transitions
We are at the brink of the largest intergenerational wealth transfer in history.
United States
4 Feb 2019
Will A Blue Wave Wash Away Tax Benefits For Wealthy New Yorkers?
Tax advisers have been struggling all year with how to best guide high-net-worth and business clients seeking to capture the benefit of the federal tax reform, especially its lower rates and greatly enlarged unified estate and gift exemption amount.
United States
30 Oct 2018
US Taxpayers May Have A Nasty Surprise In The 2018 Filing Season
The United States Internal Revenue Service is warning taxpayers to evaluate their current withholding rates and their proper estimated payments for 2018, or else they may have a nasty surprise ...
United States
8 Oct 2018
U.S. Supreme Court Decision Holds States Can Require Internet Retailers To Collect Sales Tax: Physical Presence No Longer The Standard
On Thursday, June 21, 2018, the U.S. Supreme Court decided the South Dakota v. Wayfair, Inc. case, holding that internet retailers can be required to collect sales tax in
United States
4 Jul 2018
Year-End Action Items For 2017 Tax Reform
This, together with the limitation on the deduction for state and local taxes, will result in more taxpayers using the standard deduction in 2018 and later years.
United States
5 Jan 2018
A New United States Tax Collection Tool: Revocation Or Denial Of A U.S. Passport
The United States Internal Revenue Service will soon begin implementing a new tactic for collecting delinquent taxes.
United States
2 Nov 2017
Letting Go: Common Gift & Estate Tax Triggers
It is the season of giving which ultimately fuels the season of estate and gift tax audits.
United States
23 Jan 2017
Proposed Regulations 2704
On August 4, 2016, Proposed Regulations under Section 2704 of the Internal Revenue Code ("Proposed Regulations") were published in the Federal Register...
United States
11 Oct 2016
Material Participation In The Context Of Trusts & Estates
Section 469 of the Internal Revenue Code was designed to stop taxpayers, including trusts and estates, from, taking losses for passive activity against non-passive income like investment income and salary.
United States
17 Dec 2015
Hints Of The New IRS Regulations On Family Limited Partnerships
Many accountants and valuation experts are anxiously attempting to predict the contents of the revised Section 2704 regulations from the IRS on the valuation of family limited partnerships...
United States
27 Nov 2015
Automatic Revocation & Reinstatement Of Tax-Exempt Status
Section 6033(j)(1) of the Internal Revenue Code automatically revokes the tax-exempt status of any organization that fails to file a required Form 990.
United States
19 Mar 2014
2014 Proposed Changes To New York State Estate & Gift Tax Laws
With the goal towards modernizing New York's estate and gift tax, Governor Cuomo has proposed changes to the estate and gift tax law.
United States
17 Mar 2014
Net Investment Income Tax
The "Obamacare" tax on net investment income came into effect on January 1, 2013.
United States
28 Oct 2013
License To…..Pay? New York State To Suspend Drivers' Licenses Of Individuals With Delinquent Tax Liabilities Of $10,000 Or More
On March 28, 2013, Governor Andrew Cuomo signed a bill into law that, among other things, allows the New York State Department of Motor Vehicles and the New York State Department of Taxation and Finance to work together in order to suspend the drivers' licenses of taxpayers who have delinquent tax liabilities due to New York State.
United States
9 Oct 2013
The Federal Lifetime Gift Tax Exemption Amount Of $5,120,000: Use It During Calendar Year 2012 Or Lose It
The Federal Lifetime Gift Tax Exemption (hereinafter the "Lifetime Gift Exemption") is that amount which (cumulatively), under federal tax law, may be transferred free of federal gift tax by an individual during his/her lifetime.
United States
6 Jun 2012
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