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ALERTS & ARTICLES

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At Seiler LLP, we continually strive to provide our clients with current news, insightful opinions and tax planning tools throughout the year.

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Jul

10

2018

Supreme Court Opens Door to Taxation of Online Sales

In a much-anticipated ruling that confounded the expectations of many court watchers, the U.S. Supreme Court has given state and local governments the green light to impose sales taxes on out-of-state online sales. The 5-4 decision in South Dakota v. Wayfair, Inc. was met by cheers from brick-and-mortar retailers, who have long believed that the […]

Jun

25

2018

Tax-related Identity Theft Continues in 2018

The 2017 tax filing due date may have passed, but businesses and individuals are still at risk of becoming identity theft victims. We’ll show you common tax-related scams and how to protect yourself and your company. Download PDF What is tax-related identity theft? Tax-related identity theft typically occurs by a thief using a stolen social […]

Apr

02

2018

IRS Clarifies New Tax Law regarding Deductions for Homeowners

Passage of the Tax Cuts and Jobs Act (TCJA) in December 2017 has led to confusion over some of the changes to longstanding deductions, including the deduction for interest on home equity loans. In response, the IRS has issued a statement clarifying that the interest on home equity loans, home equity lines of credit and […]

Mar

28

2018

2018 Budget Act Brings Additional Tax Changes

On February 9, President Trump signed the Bipartisan Budget Act of 2018 (BBA), ending a brief government shutdown. This 2-year budget contains a host of tax law changes.  We have highlighted the primary areas the bill covers below. Download PDF Tax Extenders Retroactive through 2017 The BBA extends for one year a set of tax […]

Feb

14

2018

New Partnership Audit Regime Now Effective

Most eyes have been on the implications of the tax reform signed into law last December, but it’s not the only tax legislation to introduce significant changes. The Bipartisan Budget Act of 2015 changed how partnerships were to be audited, and those changes are now effective this year. Why Is This Happening? The Bipartisan Budget […]

Feb

08

2018

2018 Tax Calendar

Here’s a summary of important deadlines for this year. Be advised that some deadlines have been moved earlier or later compared to previous years.   Date Deadline  February 12 Individuals: Reporting January tip income, $20 or more, to employers (Form 4070). Employers: Reporting income tax withholding and FICA taxes for fourth quarter 2017 (Form 941) […]

Dec

22

2017

Congress Passed Largest Tax Bill in Over Three Decades

On December 20, the House passed the reconciled tax reform bill, commonly called the Tax Cuts and Jobs Act of 2017 (TCJA), which the Senate had passed the previous day. It’s the most sweeping tax legislation since the Tax Reform Act of 1986. The Act makes small reductions to income tax rates for most individual tax brackets, […]

Mar

28

2017

Disclosure of Foreign Accounts: 4 Facts about FATCA

The Foreign Account Tax Compliance Act (FATCA) requires certain U.S. taxpayers who have interests in “specified foreign financial assets” to provide information to the IRS. This article offers four facts for individuals about FATCA, such as which assets need to be reported and who might be exempt from the law’s requirements. If you hold assets […]

Mar

09

2017

Appellate Court Rules against California FTB on LLC

California tax officials will not appeal an appellate court ruling that an out-of-state corporation with a small interest in a California investment fund doesn’t owe the state’s $800 minimum franchise tax because it was not “doing business” in California.