CCH TAX NEWS HEADLINES - OCTOBER 26, 2011

CCH TAX NEWS HEADLINES - OCTOBER 26, 2011 _IRS Releases Loss Payment Patterns, Discount Factors and Salvage Discount Factors for 2011 (Rev. Proc. 2011-53; Rev. Proc. 2011-54)_

Posted on _10/26/2011_ by _CCH_ The IRS has provided insurance companies with tables setting forth the loss payment patterns, discount factors and salvage discount factors for the

2011 accident year. The loss payment pattern discount factor tables are used to compute discounted unpaid losses for ? _Continue reading ?_ Posted in _Federal Tax Headlines_ | Comments Off STATE TAX HEADLINES _Texas ~ Sales and Use Tax: Online Travel Companies? Hotel Tax Liability Based on Discounted Room Rate_ Posted on _10/26/2011_ by _CCH_ A Texas court of appeals has affirmed a trial court?s summary judgment ruling that hotel occupancy taxes imposed by local taxing authorities applied to the discounted room rates that hotels charged online travel companies (OTCs) rather than to the marked-up ? _Continue reading ?_ Posted in _State Tax Headlines_ | Comments Off

_California ~ Corporate, Personal Income Taxes: Deadline Approaching to Participate in Voluntary Compliance Initiative Two_

Posted on _10/26/2011_ by _CCH_ The deadline to submit the required materials to participate in the personal income and corporation franchise and income tax California Voluntary Compliance Initiative Two (VCI 2) is October 31, 2011 (TAXDAY, 2011/06/29, S.2). Under the program taxpayers may receive penalty ? _Continue reading ?_ Posted in _State Tax Headlines_ | Comments Off