- On Jan. 24, 2014, the IRS issued Revenue Procedure 2014-16, which allows banks to automatically change their accounting method from capitalizing to currently deducting certain costs of acquiring and holding other real estate owned (OREO).
- The Internal Revenue Service Office of Chief Counsel recently issued a chief counsel advice (CCA) memorandum, updating a previous memo on biodiesel blender excise credits.
- Recent ruling affects how Illinois businesses allocate local sales tax.
- Recent changes to Minnesota tax laws and an aggressive stance on residency issues by Minnesota courts and regulators have created many questions about the state’s residency requirements.
- Newly issued guidance gives transition relief to certain eligible employers.
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