Section Newsletters

Articles on Taxation

A new franchise tax amnesty and some major changes to the Illinois income tax signed into law By Stanley R. Kaminski State and Local Taxation, September 2007 By the Governor’s signing of SB 1544 ( now Public Act 095-0233), Illinois has enacted MAJOR changes to its Income Tax, as well as instituted a new Franchise Tax Amnesty and made a small change to its sales tax.
The role of attorney-accountants in administrative state and local tax proceedings By Julie-April Montgomery State and Local Taxation, September 2007 Your company just received a sales tax notice of tax liability from the Illinois Department of Revenue for hardware sold to a Chicago company along with the lease of various software packages that are both customized and canned.
Alternative Minimum Tax By Sarah Delano Pavlik Federal Taxation, August 2007 Everyone agrees that something must be done to fix the alternative minimum tax (AMT).
Amendment to applicable sections of the Internal Revenue Code: Changing the deductibility of attorney fees By Sarah Delano Pavlik Federal Taxation, August 2007 In previous years, we discussed the case of Officer Cynthia Spina which made national headlines in 2002.
Estate Tax Repeal By Robert J. Krupp Federal Taxation, August 2007 The debate surrounding the estate tax focuses on eliminating the tax in total or reforming it by increasing the exemption level and lowering the top rate.
Offer in compromise By George E. Marifian Federal Taxation, August 2007 These Comments are submitted partly in response to changes to the offer in compromise program (the “OIC Program”) enacted as part of the Tax Increase Prevention and Reconciliation Act of 2005 (Pub. L. No. 109-222) (“TIPRA”).
The taxman cometh By Julie-April Montgomery State and Local Taxation, August 2007 The following outline was originally presented at the ISBA May 24, 2007 seminar.
Recent decisions in real estate tax cases By Timothy E. Moran State and Local Taxation, July 2007 Taxing districts filed petitions to intervene in certain tax objection cases brought by property owners seeking refunds of property taxes paid.
Vehicle title transfer tax trap By Paul Osborn Family Law, July 2007 Advising clients of the tax consequences of each element of a settlement agreement requires counsel to complete the daunting task of actually reading and understanding more than just the relevant provisions of the Internal Revenue Code, its Regulations and Tax Court Interpretations.
Illinois Appellate Court affirms Department of Revenue’s business income and net proceeds positions By David J. Kupiec State and Local Taxation, June 2007 In Mead Corp. v. Illinois Department of Revenue, No. 1-03-1160 (Ill. App.Ct., 1st Jud. Dist), the Illinois Appellate Court held that for Illinois income tax purposes the gain from the sale of certain property at issue in that case was business income apportionable to Illinois.
Proposed regulations limiting estate tax deductions for uncertain claims against decedents and other administration expenses under §2053 By Steve R. Akers Federal Taxation, June 2007 The IRS has issued proposed regulations dealing primarily with the deductibility of claims against a decedent’s estate that are uncertain in amount at the date of death.
The saga of LexisNexis By Hon. Alexander P. White State and Local Taxation, June 2007 In 1968, a decision was made by Mead Paper Company (“Mead”), headquartered in New York City, to expand its paper production and written communication operations to include the electronic transfer of information.
What is “charity care”: Qualifying for property tax exemptions By William Seitz State and Local Taxation, April 2007 Nonprofit healthcare institutions have historically qualified for a 100 percent property tax exemption as “charitable institutions” under section 15-65 of the Property Tax Code.
Collection procedure update Federal Taxation, March 2007 Section 509 of the Tax Increase Prevention and Reconciliation Act of 2005 (TIPRA) had a profound effect on offer in compromise procedures, especially those for the submission of most offers based on doubt as to collectibility.
Estate and gift tax update By Robert J. Krupp Federal Taxation, March 2007 Husband and Wife established an irrevocable life insurance trust for the benefit of their children by transferring two life insurance policies to the trust.
Internal Revenue Service liaison update By Thomas F. Arends Federal Taxation, March 2007 The editorial staff of the Newsletter would like to inform members of the Section that Mr. Thomas Arends of the Council currently serves as liaison for the Section to the Internal Revenue Service.
Treasury Issues Updated 409A Guidance By John H. Lowell Corporate Law Departments, February 2007 Last month, the Treasury Department issued Notice 2006-100, which provides updated guidance on withholding and wage reporting requirements for 2005 and 2006 under Internal Revenue Code Section 409A regarding nonqualified deferred compensation.
Questions and answers for 2006 / 2007 IDOR Practitioners’ Meetings State and Local Taxation, January 2007 Note: The answers by the Department of Revenue to the questions are not to be relied upon by taxpayers in lieu of a Private Letter Ruling and are not the kind of written information upon which a taxpayer may rely to request an abatement under the Taxpayer Bill of Rights.
Shareholder loans made simple By Derek P. Usman Federal Taxation, January 2007 Shareholders of a corporation taxed under Subchapter S of the Internal Revenue Code may elect a “pass-through” taxation system.
The vital supplements of “S.A.L.T.” (state and local tax) By Julie-April Montgomery State and Local Taxation, January 2007 Are there consequences to paying taxes late?
Tax and estate planning for year-end and looking ahead to 2007 By Karen MacKay & Gregory M. Winters Corporate Law Departments, December 2006 A summary of some of the more noteworthy changes to the tax law over the past year, along with planning opportunities you might consider prior to year-end. 
West Virginia joins growing majority of states to limit the “substantial nexus” requirement to state sales and use taxes By David R. Reid State and Local Taxation, December 2006 The West Virginia Supreme Court recently held that the United States Supreme Court’s determination in Quill Corp. v. North Dakota,—that an entity’s physical presence in a state is required to meet the “substantial nexus” requirement of the Commerce Clause—does not apply to West Virginia business franchise and corporation net income taxes.
2006 Illinois Income and Sales Tax legislative update and veto session tax projections By David J. Kupiec & J. Thomas Johnson State and Local Taxation, November 2006 Provided below is a brief summary of certain Illinois income and sales tax legislation enacted during the 2006 legislative session:
Recent court decisions By Mary Ann Connelly State and Local Taxation, November 2006 Allegis Realty Investors v. Novak, County Treasurer and ex-officio County Collector of DuPage County, Illinois Supreme Court, (Docket Nos. 100682 and 100730), opinion filed September 21, 2006. Petitioners were taxpayers who filed tax objection cases. One of the taxes they objected to was a “hard-road tax.”
The 26th Annual State & Local Taxation Conference By Alexander P. White State and Local Taxation, October 2006 The 26th Annual State and Local Taxation Conference of the National Conference of State Tax Judges took place in Indianapolis, IN on Thursday, September 28 through Saturday, September 30, 2006.
Recent decisions in Real Estate Tax cases By Timothy E. Moran State and Local Taxation, October 2006 Property owner filed bankruptcy petition which, under Section 108(b) of the Bankruptcy Code (11 U.S.C. Sec. 108 (b)) extended the period for redeeming the sold taxes on his home from January 5, 2001 to March 6, 2001 on which date owner made redemption.
2006 Legislative agenda item: Amendment to Applicable Sections of the Internal Revenue Code—Changing the deductibility of attorney fees Federal Taxation, September 2006 DISCLAIMER: The following Comments are the individual views of the members of the Federal Taxation Section Council of the Illinois State Bar Association and do not represent the position of the Illinois State Bar Association.
2006 legislative agenda item: Amendment to applicable Sections of the Internal Revenue Code—Changing the half-year age conventions to full-year age conventions for retirement plan distribution purposes Federal Taxation, September 2006 DISCLAIMER: The following Comments are the individual views of the members of the Federal Taxation Section Council of the Illinois State Bar Association and do not request the position of the Illinois State Bar Association.
Formal notice of deficiency not required to commence protest monies action By Fred Marcus & Jennifer Zimmerman State and Local Taxation, September 2006 In National City Corporation v. Department of Revenue, 1-04-2907 (Ill. App. Ct., May 22, 2006),the Illinois Appellate Court, First District, has held that the “ripeness” doctrine does not preclude a taxpayer from filing a protest monies action after it received a notice of proposed deficiency for income taxes from the Illinois Department of Revenue (“Department”), but before it received a notice of deficiency that would trigger its right to administrative protest and review.
Internal Revenue Service Liaison Update By Thomas F. Arends Federal Taxation, September 2006 The editorial staff of the Newsletter would like to inform members of the Section that Mr. Thomas Arends of the Council currently serves as liaison for the Section to the Internal Revenue Service.

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