COVID-19 shut down offices and sent employees home to work — often out of state — leaving a big question about state income taxes: Should they be paid where the employees are actually working, or where the employer is located? Alysse B. McLoughlin, a partner at McDermott Will & Emery in New York, led a … Continued
Practice Area: Tax Law
The shift towards remote work for millions of U.S. employees can have significant tax implications for businesses. There is potential long-term impact as employers rethink the need for expensive spaces and shift to partial or fully-remote workforces. Potential tax implications include payroll tax, corporate income and franchise tax, as well as taxes imposed based on … Continued
Lawyers and clients should care about IRS Forms 1099. Forms 1099 allow computer matching of Social Security numbers and dollar amounts paid and received, so IRS collection efforts are streamlined and automated.
If one were designing the measure of damages recoverable for negligent tax advice, the most obvious element of recoverable damages would be the avoidable extra taxes caused by the negligence. After all, minimizing taxes is at the heart of a tax representation. In most states, such avoidable taxes are recoverable. The situation in New York … Continued