Corporate tax news — from filing obligations to policy changes affecting businesses of every size.
The Supreme Court will take a break today from the phenomenon that is Anna Nicole consider whether tax breaks that Ohio passed in order to woo DaimlerChrysler to build an assembly plant are constitutional. What Ohio did wasn’t unusual. In fact, many states and some municipalities (such as our own City of Philadelphia!) use tax…
Is that the sound of the air being let out of the tires of the growing trend towards S corporations? Perhaps. The IRS announced plans on Monday, July 25, to randomly audit 5,000 S Corporation returns (federal forms 1120S) this year as part of a study to “assess compliance.” In IRS speak, that means that…