REDW LLC | March 23, 2020
The Office of Management and Budget (OMB) intends to provide agencies with additional grant flexibility to assist in the response to COVID-19. The new M-20-11 memo defines relief for administrative, financial management, and audit requirements under the Uniform Guidance. We have compiled some major highlights. Read more. Read More
REDW | January 16, 2019
The IRS has announced that due to the lapse in appropriations that began on December 22, 2018, most IRS operations are closed during the shutdown.
Under a contingency plan covering the tax filing season, the IRS is recalling 57% of its workforce in order to handle some tax season duties. Their workforce will increase from 9,946 employees who have been working since the start of the shutdown, to 46,052 employees. This plan will allow the IRS to process tax returns and issue refunds, but limitations on other services remain remain.
James Ortiz | August 16, 2018
As part of the Tax Cuts and Jobs Act (the Act), the limitation imposed on the state and local tax (SALT) deduction as part of the Tax Cuts and Jobs Act (TCJA) has wreaked havoc in many states. In fact, four states – Connecticut, New Jersey, New York and Maryland – have determined that the limitation is unconstitutional. On July 17, they filed a lawsuit in federal court that seeks to make the law unenforceable. Read more. Read More
REDW | May 1, 2018
On April 17, 2018, the Supreme Court of the United States heard oral arguments in South Dakota v. Wayfair, et al. South Dakota is challenging, and attempting to have overturned, the physical presence nexus standard for the collection of sales and use taxes that was re-affirmed 26 years ago in Quill Corp. v. North Dakota. While many believed the Court would never have accepted South Dakota v. Wayfair if it didn’t intend to overrule Quill, the questions from the highly engaged Justices could suggest a different outcome (one that will be anxiously anticipated, and possibly issued this summer). Read more. Read More