Also categorized in HNW/Individual:
Personal Guarantees Made to Corporation Owned by IRAs Were Prohibited Transactions Disqualifying IRAs; Gain from Sale of Corporation by Disqualified IRAs Taxable to Guarantors; Penalties Imposed (Peek, TC)
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Rise of State Tax Tribunals

Accounting Today

First, state and local tax compliance has become increasingly complex, especially with regard to business carried on in multiple states. Second, states have become more and more aggressive in attempting to collect revenues as state revenues from taxes have declined. Third, existing mechanisms for resolving state tax disputes have become progressively more unworkable. In states without a specialized tribunal, a taxpayer in a dispute with a state department of revenue often faces a number of hurdl