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Workforce Classification Scrutiny Intensifies with Recent Legislation–Please Join us for our July 22, 2014 Workforce Classification Webinar.

Workforce classification has been a hot-button issue for numerous years. Classification determinations regarding whether a worker is an employee versus an independent contractor impact liability to pay and withhold federal income tax, workers’ compensation, federal employment tax, and social security and Medicare taxes. Now Obamacare will up the ante. In recent years, state and federal…

IRS Revamps Offshore Amnesty Programs

On June 18 the IRS unveiled changes to its offshore amnesty programs. Specifically, the IRS modified its streamlined filing compliance procedures and the Offshore Voluntary Disclosure Program (“OVDP”). By way of background, under current law, “each United States person having a financial interest in, or signature or other authority over, a…financial account in a foreign…

Whitehouse Hotel: Doesn’t a 401% Easement Overvaluation Give Rise to the Gross Valuation Misstatement Penalty? Not so Fast Says the Fifth Circuit.

The donation of conservation easements remains a highly litigated area between the IRS and donors. Done correctly, these easements further important charitable goals, including slowing the impact of development on fragile ecosystems, preserving important scenery and protecting endangered wildlife. alliantgroup is assisting donors in correctly planning and implementing these gifts. Unfortunately, we have also been…

IRS Adopts Taxpayer Bill of Rights

The IRS recently adopted a taxpayer bill of rights. The taxpayer bill of rights takes rights listed in different parts of the Internal Revenue Code and creates broad categories that cover the rights, thus facilitating the ability of taxpayers to track and understand their rights. The bill of rights includes the right to receive quality…

Treasury Finalizes New Circular 230 Regulations

The Department of Treasury recently issued T.D. 9668, which contains final regulations that eliminate the much criticized covered opinion rules of Treasury Circular 230 (“Circ. 230”) section 10.35. The regulations are effective June 12, 2014. The IRS issued the covered opinion rules in 2005. The rules were intended to curtail the practice of tax professionals…

Illinois Set to Pass “Click-through” Nexus Law

Illinois Governor Pat Quinn (D) is expected to sign a bill into law that imposes sales tax nexus on remote retailers on the basis of the retailers’ affiliate agreements with in-state businesses. This legislation comes in response to an October 2013 Illinois Supreme Court ruling that struck down a similar law. This is the latest…

Treasury Allows ASC on Amended Returns

The Department of Treasury has issued new regulations that open up a world of opportunities for taxpayers who conduct research and development. By way of background, the Credit for Increasing Research Activities (“R&D credit”) is generally calculated by multiplying the difference between the current year qualified research expenses and the base amount by 20%. Calculating…

Jury Awards Significant FBAR Penalties in Zwerner Case

Tax professionals have been closely monitoring the case of United State v. Zwerner with concerns of how the outcome of the case might impact their clients. United States v. Zwerner, 13-cv-22082, U.S. District Court, Southern District of Florida. The case’s recent verdict is a win for the IRS and only adds to the concerns of…

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Washington D.C.
Willard Office Building, Suite 300 1455 Pennsylvania Ave.
Washington, D.C. 20004

© 2022 alliantNational. - All Rights Reserved.

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