On Friday, March 8, Bloomberg News published an article claiming that the IRS is likely to issue additional regulations regarding states’ efforts to circumvent the state and local tax deduction limitation put in place pursuant to the Tax Cuts and Jobs Act. Bloomberg News quotes Scott Dinwiddie, of the IRS’s Income Tax and Accounting Division
Shipman & Goodwin attorney Louis Schatz authored the article Connecticut’s Response to the Tax Cuts and Jobs Act of 2017 (Part I) for the New York State Society of Certified Public Accountants online tax publication, Tax Stringer. An excerpt from the article is provided below.
The Tax Cuts and Jobs Act of 2017 (TCJA)
Shipman & Goodwin attorneys Alan Lieberman and Robert Day will summarize Connecticut tax legislation enacted, court decisions rendered and administrative guidance published by the Connecticut Department of Revenue Services during 2018.
When: March 5, 2019
Where: Fairfield County Bar Association
970 Summer Street
Stamford, CT 06905
The 2018 session generated significant Connecticut tax
Shipman & Goodwin attorneys Alan Lieberman and David Bigger will be speakers at the CBIA’s “Navigating the New Pass-Through Entity Tax” event which will explain all aspects of the law, including how, starting with the 2018 tax year, pass-through entities will be taxed on their own income and are required to make estimated payments against
In a story in Bloomberg Tax (“Connecticut Mulls State, Local Tax Deduction Cap Workarounds”), Shipman & Goodwin attorney Louis B. Schatz discussed Connecticut’s proposed legislation for addressing the impact of the new federal tax law.
To read the full story, please click here.
Reproduced with permission. April 14, 2018 Copyright 2018 by the Bureau
Join Shipman & Goodwin tax attorneys for a four-part CLE webinar reviewing some of the more significant provisions of the Tax Cuts and Jobs Act.
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On April 17, 2017, the Connecticut Department of Revenue Services (“Department”) released eagerly awaited market-based sourcing guidance. The guidance will have an impact of virtually all companies (regardless of form) doing business within and without Connecticut. The guidance was issued in the form of Special Notice 2017(1) and provides a detailed explanation of the recent changes to Connecticut’s tax law concerning apportionment for taxpayers, including corporations, pass-through entities (such partnership and S corporations), and individuals.
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