On November 20, 2012, a Michigan Court of Appeals ruled that the Multistate Tax Compact (MTC) election is not available for Michigan taxpayers. The Court of Appeals affirmed the lower court's decision that IBM could not elect to apportion its income according to the...
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Month: November 2012
Tax crimes are serious business in California
California readers know that just about the last thing a person wants is for a federal grand jury to hand down charges alleging tax fraud. These tax crimes allegations carry with them serious financial and criminal penalties that can lead to a substantial jail...
U.S. and Mexico Sign FATCA Implementation Agreement
On November 19, 2012, the Mexican Undersecretary of Revenue, José Antonio González Anaya, and United States Assistant Secretary for Tax Policy, Mark J. Mazur, signed a government-to-government agreement for the bilateral implementation of the Foreign...
United States Signs Bilateral Agreement with Denmark to Implement FATCA
On November 15, 2012, the United States and Denmark signed a reciprocal bilateral agreement and memorandum of understanding laying out a cooperative governmental approach to implementing the Foreign Account Tax Compliance Act (FATCA). This is only the second such...
United States Signs Bilateral Agreement with Denmark to Implement FATCA
On November 15, 2012, the United States and Denmark signed a reciprocal bilateral agreement and memorandum of understanding laying out a cooperative governmental approach to implementing the Foreign Account Tax Compliance Act (FATCA). This is only the second such...
United States Signs Bilateral Agreement with Denmark to Implement FATCA
On November 15, 2012, the United States and Denmark signed a reciprocal bilateral agreement and memorandum of understanding laying out a cooperative governmental approach to implementing the Foreign Account Tax Compliance Act (FATCA). This is only the second such...
Audits of out-of-state non-profit ordered by California court
In an update from a previous post regarding a large donation made by an out-of-state non-profit to oppose Governor Jerry Brown's tax initiative ("California audits can arise for a wide range of reasons," Oct. 29, 2012), the California Supreme Court has ruled that the...
BNA Article Argues that Quill Safe Harbor Extends to Sales of Intangibles Through the Internet.
The Bureau of National Affairs (BNA) has published an article which argues that the activities involved in selling intangible goods, such as songs and digital books, by means of the Internet are not sufficiently connected to states so as to permit states to tax them....
California man contests tax debt dating back to 1990s
Tax issues can follow an individual for a long time if they choose not to address it by coming to an agreement with the IRS on how they will pay this debt. However, what if an individual claims to have paid the tax debt but still gets a bill years later? A California...
Franchise Tax Board Issues Ruling On Throwback Rule
The California Franchise Tax Board (FTB) recently issued a Chief Counsel Ruling 2012-03 addressing the throwback rules applied to sales made, by California based corporations, to purchasers located in foreign jurisdictions and other states. The throwback rule under...
