Subpart F in a Nutshell

Yesterday, Denton & Fahring was pleased to present to the "CPA Academy" on "Subpart F in a Nutshell." The Academy has archived the presentation and, if you're looking for a truly riveting hour-long talk on the ins and outs of international tax compliance, it will probably grace those dusty halls / computer servers in perpetuity … Continue reading Subpart F in a Nutshell

Wayfair: Are You Ready For More Sales Tax?

Last week, the Supreme Court handed down a decision in South Dakota v. Wayfair, Inc., that could have far-reaching effects on the U.S. business landscape. In the course of this decision, the Court held that a state can require out-of-state sellers with no physical presence in the state to collect and remit sales tax on … Continue reading Wayfair: Are You Ready For More Sales Tax?

Facebook’s Face-Off with the IRS Over the Right to IRS Appeals

A recent U.S. District Court decision has preserved the IRS’s ability to act as gatekeeper to the IRS office of Appeals (“IRS Appeals”). However, there are signs that Congress may be moving to place restrictions on this gatekeeping ability. The decision in question involved a case brought by Facebook, Inc. (“Facebook”). The IRS had made … Continue reading Facebook’s Face-Off with the IRS Over the Right to IRS Appeals

Bad Debt Deduction Gone Bad (or The Worthwhileness of Proving Worthlessness)

Hatcher v. Commissioner, an unpublished per curiam opinion recently issued by the Fifth Circuit Court of Appeals, illustrates why taxpayers need to be sure that they can prove that a loan really became worthless in the year in which a bad debt deduction is claimed. In this case, the taxpayers (hereafter "Taxpayers") had married in … Continue reading Bad Debt Deduction Gone Bad (or The Worthwhileness of Proving Worthlessness)

Just in Time: Texas Comptroller Released FAQs About Amnesty Program

This past week, the Texas Comptroller released FAQs about the Texas Tax Amnesty Program. In 2017, the Texas Legislature's general appropriations act directed the Comptroller to create a program “to encourage a voluntary reporting by delinquent taxpayers," including those who failed to obtain a permit or register for taxes and those who may have underreported … Continue reading Just in Time: Texas Comptroller Released FAQs About Amnesty Program