Tax Publications

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...

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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: ...

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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...

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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...

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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...

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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...

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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...

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Texas: Tax Exempt Employee Services

Posted on July 03, 2017. Category: Tax Publications

Generally, a temporary employee is defined as an individual hired for less than nine months in a full or part-time position. Broadly stated, a ‘temp’ is in an employment situation where the employee is expected to remain in a position for only a set period of time. In Texas, there are specific employment characteristics that exist to qualify one for a sales tax exemption program aimed at services provided by a temporary employee:The service the temporary employee is brought on board to perform is normally carried out by the host employer’s own employees. All supplies...

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Maryland Job Creation Tax Credit

Posted on June 13, 2017. Category: Tax Publications

Effective July 1, 2017 certain businesses may be eligible for a job creation tax credit for creating new qualified positions in Maryland.  Eligibility is determined by an organization’s ability to establish or expand a business facility in Maryland during any 24-month period within the scope of the program. The focus of this program is to increase investment in counties with an annual average employment less than 75,000 or a median household income less than two-thirds of the statewide median household income.The current program ends effective January 1, 2020, but has extension potential through the authority of the Maryland General Assembly dependent...

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Washington Unclaimed Property Amnesty Expiring

Posted on June 08, 2017. Category: Tax Publications

Unclaimed property is money or intangible property owed to an individual or business, they have yet to take possession of. Property is considered unclaimed after it has been held for a period of time with no owner contact and an effort has been made to locate the owner. Payroll becomes stale-dated after one year and business to business checks vary by state, but typically fall in the 3-5-7 year range. The majority of unclaimed property, some tax professionals argue up to 95%, is due to outstanding checks.If unclaimed property is pursued thoroughly but no resolution can be met, the...

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