Sales Tax

These days it’s all about sales tax.  Senator Durbin hasn’t introduced his Main Street Fairness Act, the bill that would allow states to tax online retailers, but he is expected to do so soon.  In the mean time, several states have introduced legislation to create their own versions of the affiliate tax law first adopted in New…

1099 Repeal Moves Forward

H.R. 4,  the Comprehensive 1099 Taxpayer Protection and Repayment of Exchange Subsidy Overpayments Act of 2011, which passed the House last month, passed the Senate yesterday and was today sent to the President’s desk.  The Act repeals new 1099 reporting requirements introduced by the Patient Protection and Affordable Care Act and the Small Business Jobs…

The Future of the Estate Tax

The Obama Administration’s recently released budget proposals include the administration’s vision for permanent estate and gift tax reform.  The released proposal explains that the Fiscal Year 2012 budget presume several important changes to estate, gift and generation-skipping transfer taxes. The chief changes include returning, effective January 1, 2013, to 2009 estate, gift and GST tax rules.  This would mean…

1099 Repeal Passes House

Yesterday the House of Representatives passed H.R. 4, the Comprehensive 1099 Taxpayer Protection and Repayment of Exchange Subsidies Overpayment Act of 2011.  The act seeks to address two sources of increase Form 1099 reporting requirements, the first from the Patient Protection and Affordable Care Act and the second from the Small Business Jobs Act of…