The crackdown on foreign account holders continues: the 2011 voluntary disclosure initiative and the updated filing requirements for foreign financial accounts *

USA - June 28 2011
With budgetary pressures increasing and deficits mounting, the United States Internal Revenue Service (“IRS”) is continuing its campaign to find U.S. citizens and residents who have failed to report both (1) their worldwide income on their U.S. federal tax returns and (2) all non-U.S. financial accounts in which they have a financial interest or over which they have signature authority.

Co-authors: Vicki Martin-Odette, Richard M. Fijolek, Jeff Dinerstein , Brandon S. Jones.

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Out-of-state retailers beware; soon you may be doing business in Texas (whether you like it or not!) *

USA - May 2 2011
It currently appears that Texas may join a growing number of states that have passed laws aimed at increasing tax collection from online retail transactions.

Co-authors: Erin Watkins, Kimberly Stein Szarzynski, Jeff W. Dorrill.

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The Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 *

USA - December 23 2010
On Friday December 17, 2010, the President signed into law the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 (the "Act").

Co-authors: Arthur Nathan, Vicki Martin-Odette, Kindal Kreamer, Kimberly Stein Szarzynski, Brandon S. Jones.

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Texas and many other states will no longer automatically respect the form of transactions selected by taxpayers for sales tax purposes *

USA - February 24 2010
Historically, a significant number of states had a general policy of respecting the form of a transaction chosen by a taxpayer and applied their sales tax laws based on that form of transaction.

Co-authors: Jeffrey M. Slade, Jeff W. Dorrill, Brandon S. Jones.

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Special new tax election to carry back net operating losses for up to 5 years *

USA - November 11 2009
On November 6, 2009, the Worker, Homeownership, and Business Assistance Act of 2009 (H.R. 3548) (the “Act”) was signed into law.

Co-authors: Jeffrey M. Slade, Brandon S. Jones.

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