IRS audits of higher income taxpayers increase The IRS audited one in eight individuals with incomes over $1
million in fiscal year (FY) 2011. While the overall audit coverage
rate for individuals remained steady at just over one percent, the
a...
Tax gap grows to $450 billion; compliance rate holds steady The "gross tax gap," or the amount of tax owed to the U.S.
government that is not paid on time, climbed from $345 billion in
Tax Year (TY) 2001 to $450 billion in TY 2006, the IRS has
reported. (Be...
CA - Independent contractor withholding webinar announced The California Franchise Tax Board (FTB) is holding a free webinar
on December 20, 2011, at 10 a.m. PST, for those who must withhold
personal income tax on California source income...
UT - Allocation and apportionment rule amended A Utah rule relating to the allocation and apportionment of net
income for corporate income tax purposes has been amended to
reflect legislative changes made by S.B. 136, Laws 2008...
VA - Domestic production deduction properly allocated A taxpayer that filed a federal consolidated corporate income tax
return and a separate return for Virginia corporate income tax
purposes properly claimed the IRC §199 deduction on...
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