The Duty of Good Faith & Fair Dealing Continues After Court Finds No Duty to Defend
Post 5076
See the full video at https://rumble.com/v6tezcl-insurer-must-consider-new-facts.html and at https://youtu.be/IMsuHXg2c4Y
Duty to Defend Required After New Facts Delivered
Nautilus Insurance Co. was entitled to rely on trial court Judge Dorsey’s summary judgment ruling in a previously filed separate
The State and Local Tax Deduction Is in Peril – The Cavalry Does Not Appear to Be on Its Way to Rescue It
By Larry Brant
Background
Prior to the Tax Cuts and Jobs Act (“TCJA”), there was no direct limitation on an individual taxpayer’s deduction of his or her state and local taxes (“SALT”) on the federal individual income tax return. Of course, for high-income taxpayers, the SALT deduction often triggered the alternative minimum tax.
As of 2018, as a…
The $17,000 Lesson: Why You Must Monitor IRS 941 Overpayments Before They Disappear
By Joe Serrone
Most business owners think IRS overpayments are safe. That if the government owes you money, you’ll either get it automatically or be contacted in time.
That assumption can cost you thousands.
Recently, one of our clients had a $17,000 overpayment sitting on their IRS 941 payroll account—left behind by a prior payroll company before they…
What Is First-Time Abatement (FTA)?
By Joe Serrone
The IRS created the First-Time Penalty Abatement program to give taxpayers who have a clean compliance history a second chance. It applies to these common penalties:
- Failure to File (FTF)
- Failure to Pay (FTP)
- Failure to Deposit (FTD) payroll taxes
FTA is available once per taxpayer, per type of return, and is typically granted for…
The One Big Beautiful Bill: Relevant Provisions for Sports Industry
On May 12, 2025, the House Ways and Means Committee released an updated text of draft tax legislation (the “House Draft Bill”). There are two proposed changes that would particularly impact the sports industry:
…
Don’t overlook the proliferation of sales factor denominator disputes
For decades, the sales factor has been a primary focus of state and local tax articles and a hot topic of discussion at conferences across the country, and the attention is well deserved. There has been no shortage of impactful legislative changes, interesting administrative rulings, and significant (and at times frustrating) judicial decisions regarding the…
18th Anniversary of the 21st Century Taxation Blog
The One Big Beautiful Bill: SALT Deduction Workarounds Under Fire
On May 12, 2025, House Republicans unveiled a comprehensive 389-page package of tax provisions, setting the stage for a significant tax bill to be debated in the coming weeks. Dubbed the “One Big Beautiful Bill,” this proposal aims to extend and modify many key provisions of the Tax Cuts and Jobs Act of 2017 (TCJA). One…
SALT trivia – May 14, 2025
Calling all trivia fans! Don’t miss out on a chance to show off your SALT knowledge!
We will award a prize for the smartest (and fastest) participant.
This week’s question: Which state recently passed a bill that raised the transient accommodations tax (i.e., hotel tax) from 10.25% to 11%?
E-mail your response to SALTonline@eversheds-sutherland.com.
The…
Zalma’s Insurance Fraud Letter – May 15, 2025
By Barry Zalma
ZIFL Volume 29, Issue 10
The Source for the Insurance Fraud Professional
Subscribe to the e-mail Version of ZIFL, it’s Free!
Post 5074
See the full video at https://rumble.com/v6tdc8t-zalmas-insurance-fraud-letter-may-15-2025.html and at https://youtu.be/oULm-CUvuZ0
Read the full 20 page issue of ZIFL at http://zalma.com/blog/wp-content/uploads/2025/05/ZIFL-05-15-2025.pdf
Zalma’s Insurance Fraud Letter (ZIFL) continues its 29th year of publication dedicated…