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DW Tax Blog Blog

Articles: 1-10 of 208

There Is Still Time to Make Annual Exclusion Gifts During 2020

USA - December 28 2020 Each year US citizens may make “annual exclusion” gifts under Internal Revenue Code § 2503(b). In 2020, the amount an individual can pass without…

Canadian Fall Economic Statement Regarding Tax Treatment of Employee Stock Options

Canada - December 23 2020 In the 2019 Federal Budget, the Canadian federal government announced changes to the taxation of employee stock options. On November 30, 2020, in its…

‘Tis the Season of Charitable Giving

USA - December 14 2020 As the year winds down, the fundraising efforts of many charitable organizations ramp up. This is for good reason as, on average, charitable…

Impact of the Presidential Election on Personal Income Taxes

USA - December 7 2020 Now that the results of the presidential election are in and former Vice-President Joe Biden has become President-elect Biden, it is important to…

The FICA Special Timing Rule for Non-Qualified Deferred Compensation: What You Don’t Know Can Hurt You

USA - November 30 2020 Employers know that wages are generally subject to the Federal Insurance Contributions Act (“FICA”), and that both employers and employees are liable…

United States Tax Court Launching New Case Management System - DAWSON

USA - November 23 2020 In December 2020, the United States Tax Court will be launching DAWSON (Docket Access Within a Secure Online Network), the Court’s new case…

Remote Execution of Estate Plan Documents Allowed in Michigan Through December 31, 2020

USA - November 16 2020 Remote executions of estate planning documents are again allowed in Michigan through December 31, 2020. On November 5, 2020, Michigan’s Governor…

The IRS Announces Updated Limitations Related to Employer Plans for 2021

USA - November 9 2020 The IRS announced cost of living adjustments affecting dollar limitations for employer plans for tax year 2021. Most IRS limits impacting employer…

Are My Employees Telecommuting Right into a New State Income Tax Liability?

USA - November 2 2020 A phenomenon of the ongoing COVID-19 healthcare pandemic is the exponential expansion of telecommuting. Whether stemming from an epiphany or simply…

Arizona PROP 208 - Big Tax Increase Possible in Arizona

USA - October 26 2020 On the ballot in Arizona this November is Proposition 208 (the “Proposition”). Proponents assert it will benefit students in public schools. Critics…