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Legislation

Due date extended for social welfare orgs to provide notification required under Path Act

Due date extended for social welfare orgs to provide notification required under Path Act

Notice 2016-9, 2016-6 IRB In a Notice, IRS has provided interim guidance on Code Sec. 506, newly added by the Protecting Americans from Tax Hikes (PATH) Act of 2015, which requires new and certain existing social welfare organizations to notify IRS of their intent to operate under Code Sec. 501(c)(4). The Notice states that the […]

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Experts find in record $1.6 bln lottery, states not such big winners

Experts find in record $1.6 bln lottery, states not such big winners

DENVER/CHICAGO (Reuters) – The fervor around this week’s $1.6 billion Powerball jackpot will feed annual lottery ticket sales worth tens of billions of dollars, but public policy experts estimate only about a quarter of that revenue will ultimately make it into state coffers. Forty-four states plus Washington D.C. and two U.S. territories sold millions of […]

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Joint Explanatory Statement of the Committee of Conference – Tax provisions in the “Fixing America’s Surface Transportation (FAST) Act”

Joint Explanatory Statement of the Committee of Conference – Tax provisions in the “Fixing America’s Surface Transportation (FAST) Act”

Joint Explanatory Statement of the Committee of Conference On December 3, one day before the expiration of the previously-passed temporary funding measure, both chambers of Congress passed H.R.22, the “Fixing America’s Surface Transportation (FAST) Act”. The bill was sent to President Obama for his expected signature. In addition to authorizing federal surface transportation programs through […]

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Washington Alert – CBO on budget deficit; Swiss Bank Program adds 2 more; Fiscal Year Return Projections for the United States: 2015-2022

Washington Alert – CBO on budget deficit; Swiss Bank Program adds 2 more; Fiscal Year Return Projections for the United States: 2015-2022

The federal government recorded an estimated budget deficit of $314 billion for the first nine months of fiscal year (FY) 2015, according to the latest estimates from the Congressional Budget Office (CBO). (Monthly Budget Review for June 2015) This was $52 billion less than the deficit recorded for the same period in FY 2014. Revenues […]

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Potential Impact of Supreme Court’s Pending Premium Tax Credit Decision

Potential Impact of Supreme Court’s Pending Premium Tax Credit Decision

In March of 2015, the Supreme Court is to hear oral arguments on a case dealing with whether IRS’s regs under Code Sec. 36B, the Affordable Care Act’s (ACA’s) premium tax credit provision, are valid. A new Congressional Research Service (CRS) report examines the potential implications of the Court’s thumb’s up or thumb’s down decision. […]

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More U.S. companies doing deals to avoid U.S. taxes – Congress study

More U.S. companies doing deals to avoid U.S. taxes – Congress study

WASHINGTON (Reuters) – Seventy-six U.S. corporations have shifted their tax domiciles out of the United States to other countries since 1983 to avoid U.S. taxes, with a sharp increase recently in such deals, a policy research arm of Congress said on Monday. Known as inversions, these transactions are still rare but are becoming more common […]

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L.A. County transit officials plan to put sales tax measure on ballot

L.A. County transit officials plan to put sales tax measure on ballot

L.A. County transit officials plan to put sales tax measure on ballot – Transit leaders are pondering whether to seek an additional half-cent levy or extension of Measure R, either next year or in 2016 – as reported in the LA Times. Transportation officials in Los Angeles County plan to offer a ballot measure next […]

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Hundreds of new laws affect life throughout state – Immigration, health and paparazzi are subjects of the high-profile changes, most of which take effect in 2014

Hundreds of new laws affect life throughout state – Immigration, health and paparazzi are subjects of the high-profile changes, most of which take effect in 2014

Hundreds of new laws affect life throughout state – Immigration, health and paparazzi are subjects of the high-profile changes, most of which take effect in 2014, as reported in the OC Register. SACRAMENTO – Immigrants held for deportation after being arrested for a minor crime. Celebrities who confront a barrage of cameras while running errands […]

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New workplace laws boost wages, defenses

New workplace laws boost wages, defenses

New workplace laws boost wages, defenses, as reported in the OC Register. As the calendar turns to 2014, employers across the state are preparing for the new employment-related laws that will go into effect in California. The biggest change is a hike in the state minimum wage, which increases by a buck an hour this […]

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Proposed Rule May Make It Easier to Raise Capital via Social Media

Proposed Rule May Make It Easier to Raise Capital via Social Media

The SEC is planning to implement a provision from last year’s JOBS Act to let businesses use the Internet, mobile technology, and social media to raise funds from investors via a process called crowdfunding. The move comes as lawmakers complain that the rule should have been finished at the beginning of the year. The SEC […]

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AB 576 is now the law – – Criminal tax enforcement in California just moved up to priority one with the Revenue Recovery and Collaborative Enforcement Team

AB 576 is now the law – – Criminal tax enforcement in California just moved up to priority one with the Revenue Recovery and Collaborative Enforcement Team

AB 576, approved by Governor on October 07, 2013, establishes, until January 1, 2019, a pilot program to create a multiagency team consisting of the Franchise Tax Board, Department of Justice, State Board of Equalization, and Employment Development Department, to be known as the Revenue Recovery and Collaborative Enforcement Team, to collaborate in combating criminal […]

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Domestic worker wage bill awaits signature

Domestic worker wage bill awaits signature

As reported in the news of the OC Register, nearly 200,000 domestic workers in California are waiting to see whether Gov. Jerry Brown signs a bill to make them eligible for overtime pay. AB241 passed the Assembly on Sept. 12 on a 52-25 vote. Gov. Brown has until Oct. 13 to act.  Here are some […]

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For Orange County, Immigration is a Big Tech Issue

For Orange County, Immigration is a Big Tech Issue

As reported in the OC Register, “For Orange County, Immigration is a Big Tech Issue.” Nazia Chorwadwala has been in line for a green card for over six years. If Congress ever passes an immigration bill, her wait could be over. A software engineer at an Orange County health care IT firm who holds a […]

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Coming soon: The health care hard sell – options under the exchange and the Affordable Care Act

Coming soon: The health care hard sell – options under the exchange and the Affordable Care Act

As reported in the news of the OC Register, there are options about what to do regarding health care for individual coverage.  Here’s the article. Covered California brought its road show to Orange County this past week. Its executive director, Peter V. Lee, spent two hours before a standing-room-only crowd at a union hall in […]

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Senate Passes Online Sales Tax, Assembly Bill 155, The Marketplace Fairness Act

Senate Passes Online Sales Tax, Assembly Bill 155, The Marketplace Fairness Act

As reported in the news of the OC Register, a bill that would allow states to collect sales taxes from online retailers outside their borders passed the Senate easily in a bipartisan vote, 69 to 27, and will head to the House, where it faces a harder sell at its first stop, the Judiciary Committee. […]

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Legislators Target Propostion 13 with 9 Bills of Changes

Legislators Target Propostion 13 with 9 Bills of Changes

As reported in the OC Register, “Legislators Target Proposition 13 with 9 Bills of Changes,” not all are happy in California and there’s a wide division of opinion on changes to Prop. 13.  Here’s the article. Californians have consistently expressed overwhelming support for Proposition 13, but opinion polling – and a key ballot measure – […]

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Meet Paul Raymond

Meet Paul Raymond

Mr. Raymond is a sought after speaker in tax controversy law by many attorney, accountant, and business groups and at the request of the Internal Revenue Service, has presented programs at the IRS Nationwide Tax Forum, attended by tax professionals throughout the United States.

Additionally, he continues to be an active member in the Section of Taxation, American Bar Association, where he was the Past Chair of the Employment Taxes Committee.

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