- The IRS recently finalized regulations making it easier for businesses to deduct research and experimentation expenses.
- As state governments continue to deal with budget shortfalls, revenue agencies continue stepping up their efforts in raising revenue through sales tax audits. States have increased the size of their audit staff and are employing new technologies in their discovery efforts. Auto dealerships are not immune to selection and should know what to expect and how to prepare for an audit.
- Understanding the requirements of donor advised funds, charitable organization can mitigate tax and regulation risks.
- A welcome relief for small not-for-profits, Form 1023-EZ will make it easy for a large majority of charity organizations to apply for tax-exempt status.
- The New York Office of Unclaimed Funds (NYOUF) released a new policy for business-to-business transactions that has a bearing on unclaimed property holders within the state.
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