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Entries tagged “Tax Law”

Key Highlights to Tax Professionals of New Offshore IRS Programs

Insight June 23, 2014
The Good News: The existing "Streamlined" procedure for non-resident, non-compliant taxpayers has been expanded significantly to permit many more non-filers to qualify for full abatement of penalties. Like the existing procedure, the new procedure (available here) requires taxpayers to file tax returns for the three most recent years and to

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State and Local Taxation: Headline News and Trends (CPE/CLE)

In this fast-paced presentation, David Fruchtman (chair of State and Local (Subnational) Taxation at Rimon P.C.) analyzes the most important developments in multistate and local tax legislation, case law and administrative pronouncements. Topics covered will be determined based upon current developments. Prior presentations have addressed tax presence,

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Sales Tax 2013 Representatives, Whistleblowers, Class Actions and Federal Legislation

Insight December 09, 2013
State and local taxes include a variety of taxes – income, franchise, sales, use, gross receipts, hotel occupancy, real property transfer, telecommunication and myriad other excise taxes imposed by thousands of jurisdictions.  In this four-part series, we focus on the most prevalent of these taxes – sales and use taxes.  Here, we alert Rimon’s clients to three significant developments affecting businesses nationwide.  Clients wanting to know more about these or any other state tax issues should contact David Fruchtman or the Rimon partner generally responsible for their legal services. 

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Amazon Mysteriously Postpones Offensive Against California Sales Tax

Insight September 26, 2011

On June 28, 2011, Governor Jerry Brown of California signed an amendment to the California tax code which would impose on large Internet retailers the obligation to collect sales tax (technically “use” tax – but for our purposes, it’s equivalent to sales tax) from California customers. Initially, Amazon took the battle to a new level by attempting to get a referendum on the California ballot to have the sales tax law reversed. In the end, for reasons that remain a bit mysterious, Amazon entered into an agreement with California on September 9, 2011 whereby California would postpone enforcement of the new sales tax law for one year in exchange for Amazon agreeing to drop its bid to bring a referendum to overturn the new law. Internet legal issues can change quickly, but this turnabout seems without precedent.

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Important Tax Issues for Companies with U.S. and Israeli Operations

Insight September 17, 2009

If you are a company with operations in both the United States and Israel, you should be aware of several very important U.S. and Israeli Tax issues when you engage in cross border operations. I have set forth below several of the main issues. This list is not exhaustive and only reflects briefly the main tax issues. Other issues such as employment, banking, intellectual property rights, custom duties etc. will be addressed in other communications.

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U.S. Reporting of Undisclosed Foreign Accounts

Insight September 01, 2009

The IRS has now implemented a special approved penalty framework for resolving the civil side of offshore voluntary disclosures and this approved penalty framework is effective till September 23, 2009 at which time the IRS intends to re-evaluate the approved penalty framework. Under the approved penalty framework, the taxpayer has to file correct or amended tax returns for tax years 2008 back to 2003.

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