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MWE written articles.

Posted in Individual Tax Brief

File early to avoid tax identity theft

If you’re like many Americans, you may not start thinking about filing your tax return until the April 15 deadline (this year, April 18) is just a few weeks — or perhaps even just a few days — away. But there’s another date you should keep in mind: January 19. That’s the date the IRS…

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Posted in State & Local Strategies, Corporate Income Tax, Nexus, Property and Other State/Local Tax Issues

Market Based Sourcing – No Time To Hibernate

It is always fascinating to watch trends develop and revisit whether the prognosticators were correct – we even enlist Punxsutawney Phil at this time of year – more on him later. One trend we’ve been watching has been the state tax authorities’ modifications in the sourcing of revenue in order to increase the receipts from…

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Posted in Individual Tax Brief

No changes to retirement plan contributions for 2016

Retirement plan contribution limits are indexed for inflation, but with inflation remaining low, the limits remain unchanged for 2016:  Type of limit  2016 limit  Elective deferrals to 401(k), 403(b), 457(b)(2) and 457(c)(1)plans $18,000  Contributions to defined contribution plans $53,000  Contributions to SIMPLEs $12,500  Contributions to IRAs $5,500  Catch-up contributions to 401(k), 403(b), 457(b)(2) and 457…

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Posted in State & Local Strategies, Corporate Income Tax

Nevada’s New Commerce Tax – If $ Happens In Vegas, It (May) Stay In Vegas

If you have Gross Receipts from Nevada sources, the new Commerce Tax may keep a portion of those Gross Receipts in the state. Last June, Nevada Governor signed into law Senate Bill No. 483 to introduce the Commerce Tax. Effectively July 1, 2015, Nevada joins Texas, Ohio and Washington in imposing tax based on the total gross revenue,…

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Posted in State & Local Strategies, Corporate Income Tax, Property and Other State/Local Tax Issues

Got Unpaid State and Local Tax Liabilities? Voluntary Disclosure May Be Your “Get out of Jail Free” Card

Voluntary disclosure is not exactly a “get out of jail free” card when it comes to unpaid taxes, but it may be the next best thing. Voluntary disclosure programs allow taxpayers with unreported tax liabilities to come forward and settle their tax liabilities, usually under very favorable terms and frequently avoiding any type of penalty.…

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