Tax Relief

Puerto Rico stands to lose millions of dollars in rum excise tax rebate revenue after the US Congress failed to extend an increase in the program that expired on Dec. 31, reports Caribbean...

Byline: Trip Jennings Deming Democratic Sen. John Arthur Smith often compares New Mexico's gross-receipts tax to Swiss cheese. He is referring to all the tax breaks -- exemptions, deductions and credits -- that...

Like it or not, we appear to have a friend in the White House. In his State of the Union address this week, President Obama delivered promises that appear tailor-made for Long Island...

Next month, local manufacturers plan to ask the city to eliminate its 2.5 percent use-tax on equipment. But it will be a hefty request because the tax pumps about $7 million dollars a...

Governor Andrew M. Cuomo recently travelled his 2012-13 Executive Budget and Reform Plan. The Governor's $132.5 billion budget and reform plan builds on the spending reform initiatives adopted last year. The budget increases...

HEADNOTE OUR POINT OF VIEW Chris Christie's bold promise to offer a 10 percent income tax cut across the board was made a week ago, but we bet you can still hear at...

HEADNOTE Industry leaders say Christie's promise would help build on N.J.'s pro-business momentum Chris Christie had barely finished promising a 10 percent cut to the state income tax when Garden State business leaders...

26 CFR 601.105: Examination of returns and claims for refund. credit, or abatement: determination of correct liability. (Also: Part I. sections 66, 6015.) This notice provides a proposed revenue procedure that would update...

Earnings results for New Orleans-based Entergy Corp. will be released later this month but the company offered fourth-quarter guidance on Monday that expects a better quarter than analysts anticipated. The electric power provider...

Interim Guidance on Informational Reporting to Employees of the Cost of Their Group Health Insurance Coverage I. PURPOSE This notice restates and amends the interim guidance on informational reporting to employees of the...

Section 45D.-New Markets Tax Credit 26 CFR 1.45D-I: New markets tax credit. DEPARTMENT OF TREASURY Internal Revenue Service 26 CFR Part 1 Targeted Populations Under Section 45D(e)(2) AGENCY: Internal Revenue Service (IRS), Treasury....

Iowa Low-Income Housing Credit Disaster Relief The Internal Revenue Service is suspending certain requirements under § 42 of the Internal Revenue Code for low-income housing credit projects to provide emergency housing relief needed...

CEDAR RAPIDS, Iowa -- Rockwell Collins, Inc. (NYSE: COL) today reported first quarter fiscal year 2012 income from continuing operations of $130 million compared to $150 million in the same period last year....

It has long been the bane of Minnesota’s business community, and this legislative session, both Republican majorities at the Capitol are looking to do away with it once and for all. The statewide...

[ILLUSTRATION OMITTED] The Real Estate Board of New York was successful in achieving many of the goals established in its 2011 agenda, in spite of increasing government dysfunction on the federal level and...

Gov. Andrew Cuomo presented a proposed budget to the state Legislature today he said was easier to craft than last year's but carried challenging reform policies that would need to be enacted if...

(Also 26 CFR 1.414(1)-1, 1.933-1, 1.501(a)-1, and 301.7805-1.) Qualified Pension, Profit-Sharing, and Stock Bonus Plans; Exemption from Tax on Corporations, Certain Trusts, Etc. I. PURPOSE This notice extends and expands the transition relief...

Certain Filing Changes for Tax-Exempt Organizations This notice notifies tax-exempt organizations (organizations) that the IRS Modernized eFile (MeF) system will not be available from January 1, 2012 through February 29, 2012 for electronic...

26 CFR 601.105: Examination of returns and claims for refund, credit or abatement: determination of correct tax liability. (Also Part 1, §§ 856: 1.856-3, 1.856-5, and 1.860F-4.) SECTION 1. PURPOSE This revenue procedure...