Monthly Archives: September 2011

IRS has issued a series of new frequently asked questions (FAQs) that provide additional guidance on the Voluntary Classification Settlement Program (VCSP) for employees that have been misclassified as independent contractors (or as other nonemployees). They also provide taxpayers with … Continue reading →

San Jose, CA — September 29, 2011 — Clifton Douglas announced today its publication of “Act Public Before Going Public – How to Manage Tax Accounting When Preparing for an IPO” in the renowned Journal of Accountancy (October 2011 Issue). … Continue reading →

Governor Brown has signed a bill that repeals legislation (L. 2011, A28 (c. 7); see State & Local Taxes Weekly, Vol. 22, No. 27, 07/05/2011) that expanded the definition of “retailer engaged in business in this state” to include retailers … Continue reading →

California’s Franchise Tax Board (FTB) has issued a legal ruling providing guidance on the calculation of carryover periods when the deduction of a net operating loss (NOL) is suspended under California law. The ruling discusses when a NOL deduction is … Continue reading →

The District of Columbia budget support legislation that provides funding for the 2012 budget has passed Congressional review and become law. This legislation includes various tax increases, requires combined reporting, taxes most municipal bond interest, adopts an apportionment formula with … Continue reading →

The Practising Law Institute (PLI) will hold its program: “Tax Strategies for Corporate Acquisitions, Dispositions, Spin-Offs, Joint Ventures, Financings, Reorganizations & Restructurings 2011,” at the Crowne Plaza Times Square Manhattan in New York City on October 26–28, 2011, at the … Continue reading →

IRS has launched a new voluntary compliance program that allows employers to prospectively reclassify—as employees—those workers they have erroneously treated as independent contractors. The program carries generous settlement terms and provides audit relief for previous years. Ann. 2011-64, 2011-41 IRB … Continue reading →

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