IRS audits of higher income taxpayers increase The IRS audited one in eight individuals with incomes over $1
million in fiscal year (FY) 2011. While the overall audit coverage
rate for individuals remained steady at just over one percent, the
a...
Tax gap grows to $450 billion; compliance rate holds steady The "gross tax gap," or the amount of tax owed to the U.S.
government that is not paid on time, climbed from $345 billion in
Tax Year (TY) 2001 to $450 billion in TY 2006, the IRS has
reported. (Be...
CA - Independent contractor withholding webinar announced The California Franchise Tax Board (FTB) is holding a free webinar
on December 20, 2011, at 10 a.m. PST, for those who must withhold
personal income tax on California source income...
IN - Extension guidance updated The Indiana Department of Revenue has released an updated personal
income tax information bulletin that outlines the procedures for
obtaining an extension of time to file. Specific...
KY - Interest rates set for 2012 The Kentucky Department of Revenue has announced the tax interest
rates for 2012. For unpaid taxes, the interest rate will increase
to 6% (currently, 5%). For interest due on a ref...
NH - Home care association entitled to charitable exemption On remand from the New Hampshire Supreme Court, the Board
of Tax and Land Appeals (BTLA) considered two underlying issues as
directed by the court and ruled that a home care ...
NY - Application for award of administrative costs denied A taxpayer was not entitled to an award of administrative costs
under Tax Law §3030 with regard to a New York sales and use
tax settlement, even though the taxpayer established tha...
OH - InvestOhio program registration period begins The Ohio Department of Development reminds taxpayers that
registration for the InvestOhio program, which provides for a
personal income tax credit for eligible investors, begins No...
WA - Taxability of insurers explained The Washington Department of Revenue has updated an industry guide
on the application of sales and use tax to the insurance industry.
Insurers and affiliates are responsible for pa...
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