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Washington Tax Insight September 2019

Politics and Congressional Activity An assessment of the year thus far for Congressional achievements is a mixed bag with many important issues yet to be dealt with in 2019.  Although the budget deal that Congress reached before the recess began is arguably an accomplishment, there is still opportunity for problems when Congress returns in September because Congress will need to approve appropriations legislation that specifies the funds allocated for the […]

September 12, 2019

GILTI High Taxed Income Exception: Are You ALL IN?

Prepared by: David Flores, Senior Manager and Expert Poker Player The addition of a new tax on Global Intangible Low Taxed Income (“GILTI”) in the TCJA dealt taxpayers a new hand, with both opportunities and The Government released Final and Proposed regulations dealing with the GILTI High Taxed Exception (the “HTE”) in late June of 2019.  The GILTI HTE can provide a generous benefit because taxpayers would be able to […]

September 3, 2019

The year after Wayfair: An update

In the year since the Supreme Court’s decision in South Dakota v. Wayfair was handed down, the case continues to have a major impact on the business world. Supplementing the physical presence nexus standard with an economic one, the ruling allows states to collect sales and use taxes from many more out-of-state sellers than in the past. The response was quick. As of today, nearly every state in the U.S. […]

August 30, 2019