Income Taxes, Tax Liability, Withholding Tax

SALT Select Developments - July 2024

Baker Donelson on 7/12/2024

State and local taxes impact almost every taxpayer, and developments in any one jurisdiction can be frequent and sometimes confusing. ln this newsletter edition, we will briefly summarize selected state and local tax (SALT)...more

Update Your 2024 Tax Withholding to Avoid Year-End Surprises

Bowditch & Dewey on 2/22/2024

Now that the 2023 tax filing season is underway, many taxpayers are having an unpleasant surprise when they file their tax return this year and find out they are getting a much smaller refund than they were expecting, or...more

US-Chile Income Tax Treaty Enters Into Force

Bilzin Sumberg on 1/4/2024

On December 19, 2023, the U.S. Treasury Department announced that the Income Tax Treaty between the United States and Chile (the “Treaty”) entered into force. The Treaty was originally signed in February of 2010, and, after...more

Tax Tips for New College Graduates

Bowditch & Dewey on 6/22/2023

As new college graduates cross the stage to receive their diplomas, many will also be heading to their first full-time jobs. There are some tax tips new graduates can implement early on that will help with savings in the long...more

International Tax Withholding | Chapter 3 of the Internal Revenue Code

Freeman Law on 10/19/2022

One of the more confusing areas of international tax law is determining when withholding is required. Getting it wrong can have dire consequences. Currently, U.S. international withholding provisions can be found in...more

Update Your Tax Withholdings to Avoid Year-End Surprises

Bowditch & Dewey on 9/9/2022

During the 2022 tax filing season, many taxpayers had an unpleasant surprise when they filed their tax return and found out they were getting a much smaller refund than they were expecting, or worse, had a balance due....more

New York to Taxpayer: “Forget What the Feds Said, You’re a ‘Responsible Person"

Rivkin Radler LLP on 8/9/2022

Where is the Economy Heading? According to the data released Friday by the Department of Labor, the U.S. economy added approximately 528,000 jobs in July, reducing the unemployment rate to 3.5 percent. Although this...more

8 Important Tax Considerations During Divorce

Bowditch & Dewey on 8/5/2022

Income tax effects are often the last thing on one’s mind when going through a divorce, but having sound tax advice during a divorce is important for many reasons. FILING STATUS - Divorce will change your income tax...more

Exempt Payments to Non-Resident Aliens and Federal Withholding

Freeman Law on 6/8/2022

Exempt Payments to Non-Resident Aliens and Federal Withholding - Wages paid to U.S. citizens and residents by a U.S. person are generally subject to federal withholding, subject to certain exceptions. Wages paid to...more

Withholding Agents and FDAP Income

Freeman Law on 3/31/2022

Withholding on Foreign Payments of FDAP - Income A withholding agent is generally required to report amounts paid to foreign persons that are subject to non-resident alien withholding. ...more

What is an IRS Notice of Deficiency?

Freeman Law on 11/1/2021

Ordinarily, taxpayers file their income tax returns each year with the IRS and hear nothing more. Rather, the Internal Revenue Service (“IRS”) simply processes the tax return, assesses the reported amount of tax due, and...more

“Sure, You Can Work Remote”...These Words May Have a Huge Cost...

Williams Mullen on 10/1/2021

COVID has not only seen a migration of employees to remote work but has created a new business model that is here to stay. In the midst of COVID, employers were eager to allow their employees to work from home and maintain a...more

What is Backup Withholding Tax and Who Has to Pay It?

Foodman CPAs & Advisors on 7/26/2021

When it comes to taxes, mistakes can cost you more than money. That’s especially true with Federal backup withholding taxes. In simplest terms, 24 percent backup withholding is demanded of both payers and payees who either...more

How a Remote Workforce Changes State and Local Tax Requirements

Bowditch & Dewey on 5/26/2021

Governor Baker announced on Monday, May 17 that Massachusetts will end the COVID-19 state of emergency on June 15, 2021. Given this news, the Massachusetts Pandemic-related Temporary withholding tax rules will expire...more

Taxing Times - April 2021

Gerald Nowotny - Law Office of Gerald R.... on 4/1/2021

Male Escort Gets 21 Months In Prison For Tax Case - He lied on his tax returns, resulting in a tax loss to the IRS of $278,325. A male escort who lied to the IRS about his income was sentenced to 21 months in prison and...more

Rights granted abroad – Will withholding tax still be due in Germany after all?

A&O Shearman on 2/17/2021

For months now the treatment of licence fee income generated in Germany under licence agreements concluded between foreign companies where the right granted is merely listed in a public register in Germany has been causing...more

German IP Withholding Tax

White & Case LLP on 11/16/2020

On November 6, 2020, the German Federal Ministry of Finance issued a decree addressing certain open questions relating to foreign taxpayers’ obligation to submit tax filings for royalty income derived from intellectual...more

Weekly IRS Roundup October 5 – October 9, 2020

McDermott Will & Emery on 10/15/2020

Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of September 28, 2020 – October 2, 2020... October 7, 2020: The IRS published final regulations...more

Potential Payroll Tax Deferral Is Available – Employers Must Understand the Program and Use Extreme Caution Before Blindly Jumping...

Foster Garvey PC on 9/2/2020

On August 8, 2020, President Trump issued an executive order, directing the U.S. Treasury to grant employers the ability to defer the withholding, deposit and payment of certain payroll taxes as further COVID-19 tax relief....more

Income Taxes › Tax Liability › Withholding Tax