Section Newsletters

Articles on Taxation

Content-based tax exemptions and the First Amendment By Stanley R. Kaminski & David I. Curkovic State and Local Taxation, January 2011 The Illinois Supreme Court recently issued their opinion in Pooh-Bah Enterprises, Inc. v. County of Cook.
The 30TH Annual State & Local Taxation Conference By Hon. Alexander P. White State and Local Taxation, December 2010 A recap of the 30th Annual National Conference of State Tax Judges.
Is there a new tax imposed on the sale of real estate under the 2010 Health Care Reconciliation Act? Not directly. By Emily R. Vivian Real Estate Law, December 2010 The Health Care and Education Reconciliation Act of 2010 does not directly impose a new tax on real estate sales. However, for certain individuals, it imposes a new 3.8 percent Medicare tax on “net investment income,” which might result from a real estate sale.
Recent laws that impact state & local tax By William Seitz State and Local Taxation, December 2010 A list of legislation passed by the 96th General Assembly.
Will the passage of health care insurance reform in combination with the Provena decision dramatically limit the availability of not-for-profit hospitals to claim the property tax charitable exemption in Illinois? By Stanley R. Kaminski & William Seitz State and Local Taxation, November 2010 Unless something is done, with higher taxes and less revenues, many hospitals necessary to the health of Illinois will have a more difficult time surviving while providing the same quality of care that patients are used to in Illinois.
4-1-1: PTIN Registration By Michelle L. Heller Federal Taxation, October 2010 As of September 28, 2010, online registration is available for obtaining a Preparer Tax Identification Number. If you already have a PTIN, you are still required to complete the application/registration.
Administrative problems with the increased Form 1099 reporting requirements By Eric Blackledge Federal Taxation, October 2010 A look at the burdens to businesses and to the IRS imposed by the new 1099 requirements of the Health Care Reform legislation.
Case summaries By Tara H. Ori State and Local Taxation, October 2010 Two recent cases affecting state & local tax practitioners.
Chair’s corner By Michelle L. Heller Federal Taxation, October 2010 A note from Chair Michelle Heller.
The Cook County Board of Review v. The Property Tax Appeals Board, et al. By William Seitz State and Local Taxation, October 2010 Condominium Association proved with clear and convincing evidence that a violation of uniform assessment occurred.
Estate tax issues By Thomas F. Arends Federal Taxation, October 2010 The debate surrounding the estate tax centers on the amount of the exemption and the rate. As to the particular exemption levels and the tax rate, the ISBA's Federal Taxation Section supports a permanent exemption level of at least $3.5 million, provided it is indexed for inflation. The Section does not support any rate in excess of 45 percent.
Irwin Industrial Tool Co. v. Department of Revenue, Docket No. 109300 (Ill Sup Ct. 9/23/2010) By William Seitz State and Local Taxation, October 2010 Can the Illinois Department of Revenue impose a use tax on the full value of an aircraft even though it is hangared outside of the state of Illinois?
Offers in Compromise By William M. Gasa Federal Taxation, October 2010 These comments are a follow-up and expansion of the Federal Taxation Section's 2007, 2008 and 2009 Offers in Compromise reports.
Proposed technical correction to Section 7430 By George E. Marifian Federal Taxation, October 2010 This article addresses the need to harmonize Section 7430(c)(7)(B) with Section 7430(c)(2)(B) of the Internal Revenue Code.
3 ways your business can run afoul of tax authorities By Gregory A. Zbylut Corporate Law Departments, September 2010 Steer clear of these minefields and you may have fewer tax-related headaches.
Capital loss carry forwards: Valuation and equitable distribution By Michael DiDomenico Family Law, September 2010 In the current market, divorce practitioners must increasingly consider capital loss carry forwards and the question of whether they constitute marital property.
Illinois tax amnesty enacted—Interest and penalties abated or doubled By David J. Kupiec & Natalie M. Martin State and Local Taxation, September 2010 The amnesty program provides that, upon payment by a taxpayer of all taxes due to the State of Illinois for any taxable period ending after June 30, 2002 and prior to July 1, 2009, the Department shall abate and not seek to collect any interest or penalties that may be applicable and the Department shall not seek civil or criminal prosecution for any taxpayer for the period of time for which amnesty has been granted to the taxpayer.
Recent decisions in real estate tax cases By Timothy E. Moran State and Local Taxation, September 2010 Recently decided cases affecting real estate tax practitioners.
TIF 101 By David J. Silverman Local Government Law, September 2010 An explanation of Tax Increment Allocation Financing, arguably the most powerful economic redevelopment tool available to municipalities in Illinois.
Calumet Transfer v. Illinois Property Tax Appeal Board By William Seitz State and Local Taxation, August 2010 The first of two articles in this issue discussing the recently decided case of Calumet Transfer v. PTAB.
Comparable sales are admissible to establish whether bankruptcy sales reflect market value By Timothy E. Moran State and Local Taxation, August 2010 Author Tim Moran's summary of the Calumet Transfer v. PTAB case.
Need for a license ensures you pay your taxes By Julie-April Montgomery State and Local Taxation, August 2010 Before you can obtain a license to open your business, the government issuing the license will normally check to ensure that you, as either an individual or a person involved with another business, have no outstanding tax obligations.
Only months to go until the largest tax hikes in history By Ryan Ellis Agricultural Law, August 2010 A summary of federal tax increases that will take effect if Congress doesn't act.
4 comments (Most recent August 3, 2010)
Irwin Industrial Tool Co. v. IDOR By William Seitz State and Local Taxation, July 2010 The Supreme Court will consider whether the appellate court erred in upholding a use tax imposed by the Illinois Department of Revenue on the full value of an aircraft even though it was hangared outside of the state.
Trust fund recovery penalties By David P. Dorner State and Local Taxation, July 2010 If a business were to default on the payment of its trust fund taxes, the Department could seek recovery of such taxes, plus penalties and interest, in the form of a 100 percent penalty directly from the responsible officer or employee.
Employer’s expense tax relief ordinance FAQs State and Local Taxation, June 2010 Frequently asked questions relating to an employer's expense tax.
I’m a nonresident of Illinois—maybe? By David P. Dorner State and Local Taxation, June 2010 While a person may believe he or she is no longer a resident of Illinois, they in fact may still be considered residents for Illinois income tax purposes.
I’m a nonresident of Illinois—maybe? By David P. Dorner General Practice, Solo, and Small Firm, June 2010 While a person may believe he or she is no longer a resident of Illinois, they in fact may still be considered residents for Illinois income tax purposes.
New financial reporting rules and proposed IRS rules would raise the stakes on taking aggressive tax positions By Edward J. Hannon & Michelle B. Baxter Federal Taxation, May 2010 Two recent changes to financial reporting and tax return disclosure rules could impact whether taxpayers will choose to take tax positions that have a significant chance of being challenged by the IRS.
Provena Covenant Medical Center v. Department of Revenue, No. 107328. (Illinois Supreme Court, March 18, 2010) By William Seitz State and Local Taxation, May 2010 Provena Hospitals sought administrative review of a decision by the Director of Revenue that it was not entitled to a property tax exemption for charitable and religious organizations for the 2002 tax year.
2 comments (Most recent April 26, 2010)

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