Tax Publications

Tax Cuts and Jobs Act: Impact on Taxpayers

Posted on January 15, 2018. Category: Tax Publications

The most sweeping tax reform proposal in over 30 years was signed into law on December 22, 2017, by President Donald Trump after the House and Senate passed the bill. The Tax Cuts and Jobs Act (the Act) became a reality for US taxpayers beginning with tax years after December 31, 2017. The extensive tax reform of Public Law 115-97 drastically changes the tax arena for individual taxpayers and businesses. Many of the provisions affecting individual taxpayers are only applicable to tax years 2018 through 2025, while corporate provisions of the Act are indefinite and not limited to these years. We will focus on a select... Read More

Connecticut Tax Amnesty Program Offers a ‘Fresh Start’

Posted on December 14, 2017. Category: Tax Publications

As of October 31, 2017, Connecticut is now offering an incentive program for both individual and business taxpayers to voluntarily come forward and pay their unreported tax liabilities. Individuals and businesses may be eligible if returns were not filed, or if the returns failed to report the full amount of tax on a previously filed return for any tax return due on or before December 31, 2016.When:The Connecticut Fresh Start program began October 31, 2017, and taxpayers have until November 30, 2018, to apply through the online application. Taxpayers should apply as soon as possible because the sooner taxpayers apply, the more interest can be saved. ... Read More

Pennsylvania – New Economic Nexus Requirements

Posted on December 13, 2017. Category: Tax Publications

By March 1, 2018, parties identified and defined as remote sellers, marketplace facilitators, and referrers, with sales of $10,000 or more in the previous 12 month period, will be required to either collect and remit Pennsylvania sales and use tax, or comply with notice and reporting requirements based on recently enacted Pennsylvania legislation.For those electing not to collect sales and use tax, but who instead elect to comply with notice and reporting requirements, various steps will be required to ensure compliance. These steps include posting or providing written notice to Pennsylvania purchasers that sales or use tax may be due on a purchase.... Read More

Miscellaneous Income: What You Need to Know for 2017 Reporting

Posted on December 11, 2017. Category: Tax Publications

As we are well into December 2017, we begin to prepare for upcoming 2018 deadlines. In doing so, it is important for taxpayers to note what Federal forms are due, when, and requirements exist as they pertain to the filing of Miscellaneous Income Form 1099-MISC for the 2017 tax year.When:If you are reporting non-employee compensation in box 7 for Form 1099-MISC, you are required to file either on paper or electronically on or before January 31, 2018.If you are reporting all other payments, you are required to file Form 1099-MISC by February 28, 2018, if you file on paper or by April 2, 2018, if you file... Read More

Oklahoma Tax Amnesty Program Ending Soon

Posted on November 30, 2017. Category: Tax Publications

Earlier this year, The Oklahoma Tax Commission began offering a limited time Voluntary Disclosure Initiative, also known as a Tax Amnesty Program. The Tax Amnesty Program was put into place to encourage the filing and payment of many types of delinquent taxes. An eligible taxpayer shall be entitled to a waiver of penalty and interest which would otherwise be due.When:An eligible taxpayer has between September 1, 2017, and November 30, 2017, to voluntarily file and pay delinquent taxes, and receive a waiver of penalty and interest. Time is quickly running out to be eligible for this limited time Tax Amnesty Program.What: ... Read More

Federal and State Taxing Authorities Provide Tax Relief for Taxpayers Affected by Hurricane Irma

Posted on September 18, 2017. Category: Tax Publications

On Sunday, September 10, 2017, Category 3 Hurricane Irma slammed into the state of Florida causing severe flooding, property damage, and disablement of infrastructure. Allyn International, headquartered in Fort Myers, Florida was able to continue business fully operational due to our business continuity preparations, backup systems, dedicated personnel, and high-capacity generators, allowing us to continue servicing our clients without interruption the day following the storm. However, many of the individuals and businesses impacted by the storm continue to be inactive as they are impeded by Irma’s fallout, with thousands still lacking power and communication services.The federal government along with certain... Read More

Hurricane Irma Update

Posted on September 08, 2017. Category: Logistics PublicationsTax PublicationsTrade Publications

Hurricane Irma is currently a category 4 hurricane that is expected to impact Florida over the weekend.This large powerful storm will cause supply chain disruptions over the next few days, and longer depending on the amount of damage sustained by the area.As of now cargo airline operations out of Miami and Ft. Lauderdale will be closed through Monday.The U.S. Coast Guard currently expects the closures of Port Miami and Port Everglades Saturday.Please check in at for the latest on Hurricane Irma. Furthermore, if you have questions about freight that is moving to or... Read More

Multistate Tax Commission Offers Unprecedented Tax Amnesty Program for Online Sellers

Posted on August 24, 2017. Category: Tax Publications

The Multistate Tax Commission (MTC) is currently offering a limited time voluntary disclosure initiative for online sellers who have sales/use or income/franchise tax liabilities triggered by the utilization of online marketplace providers. Numerous tax experts have voiced their concern that these liabilities are large enough to cause immense financial damage or even bankruptcy for the businesses that have incurred them. In many states, sellers who utilize online marketplace providers (the most common provider being Amazon) have established nexus. Nexus is a sufficient connection with a taxing jurisdiction that triggers tax collection and remittance responsibilities. While Nexus due to... Read More

California Department of Tax and Fee Administration

Posted on August 15, 2017. Category: Tax Publications

Effective July 1, 2017 the California Board of Equalization will be broken into newly formed governing bodies encompassing the same scope of responsibility, but with increased focus and accountability. California has unintentionally scribed a list of reasons collection and accountability procedures need to be revised, citing the Los Angeles Times, the new structure “strips the scandal-plagued state tax collection agency of most of its powers…” Currently under Department of Justice investigation for “member and employee mismanagement” of nearly $350 million in sales tax revenue, separating the tax and fee administration and creating an entirely new entity with limited... Read More

Puerto Rico Sales Tax Revenue Frozen

Posted on July 14, 2017. Category: Tax Publications

Puerto Rico’s plans to reduce a $123 billion dollar debt comprised of bonds and unfunded pensions has created contentious opposition from two distinct groups of creditors in federal court. What is in debate is the liquidation preference of $400 million dollars in sales tax revenue generated by Puerto Rico and which groups of creditors will be repaid first.Half of Puerto Rico’s sales tax revenues were originally used to fund bonds issued by COFINA, the Puerto Rico Urgent Interest Fund Corporation owned by the commonwealth of Puerto Rico. This entity uses that portion of taxes in repayment of... Read More

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