State and local tax news — from state income tax quirks to property tax fights, because not all tax battles happen in Washington.
I was thrilled to be a source for a story earlier this month about tax planning—and the lengths taxpayers may go to when a new tax changes the math. The article, written by Jack Flemming for the Los Angeles Times, focused on wealthy California residents who scrambled to avoid paying the new “mansion tax.” The…
From working from home to deductions to Wayfair, it’s clear that state and local taxes (SALT) have become critical in the tax world. While the focus used to sit squarely on federal taxes, the industry lens seems to be shifting more and more toward SALT. State and local taxes can seem complicated, especially in a…
As states need to fill budget holes, politicians are looking for new revenue sources. Maryland recently became the first in the United States to pass a digital advertising tax, taxing the revenue made from digital advertisements on online services like Facebook and Google. Other states are watching closely, with a few introducing similar tax bills….
It’s not just the federal race that made news on Election Day: state and local initiatives were on also on the ballot. In California, that included a vote on whether gig drivers like those who work for Lyft, Uber, and DoorDash, should be considered employees: 58% of voters decided that they should instead be classified…
Back-to-school may look different in 2020, but that doesn’t mean that parents and teachers won’t be shopping. According to the National Retail Federation, consumers could spend a record amount in 2020 to prepare students for school and college as they buy more laptops and computer accessories for online and hybrid schools. “By any measure, this is…
If you find yourself clicking over to do some online shopping more than before, you’re not alone. Web sales are up from last year in the U.S., reaching $73.2 billion as compared with $41.5 billion a year earlier. That’s true even though the U.S. gross domestic product (GDP) was down a record 33% in the second quarter, unemployment…
This week, New York Gov. Andrew Cuomo had restaurant owners calling “fowl” on new rules requiring bars to serve food with their drinks. The New York State Liquor Authority (NYSLA) issued guidance making clear that, “Pursuant to Executive Order 202.52, effective Friday July 17, 2020, all licensed establishments with on premises privileges (e.g. restaurants, taverns, manufacturers with…
On March 20, 2020, Treasury Secretary Mnuchin extended the tax filing and payment deadline for federal income tax to July 15, 2020. This relief includes estimated payments for the first and second quarters. Some states have also extended filing and payment deadlines – but not all of them are extended to July 15, 2020. Additionally,…
The Treasury Department and the Internal Revenue Service have announced that they have distributed more than 152 million Economic Impact Payments, sometimes referred to as stimulus checks. The payments total nearly $258 billion, with an average payment of $1,695 (that’s roughly the value of a check for a single adult and a child). “Economic Impact Payments have…
(Note: Updated April 1, 2020) On March 20, 2020, Treasury Secretary Mnuchin extended the tax filing and payment deadline to July 15, 2020. You can find more information and guidance here. Some tax-related agencies and departments are closing: The US Tax Court is closed to the public (notice downloads as a PDF). You may still file petitions and use online…