CCH TAX NEWS HEADLINES - OCTOBER 31, 2011

CCH TAX NEWS HEADLINES - OCTOBER 31, 2011

_Employee Plans Office Facing Challenges to Improve Processing of ESOP Applications, IRS Official Says_

Posted on _10/31/2011_ by _CCH_ IRS Employee Plans (EP) is facing a stiff challenge to improve its processing of employee stock ownership plans (ESOPs), in particular the issuance of determination letters, an IRS official indicated on October 28. As of early 2010, EP had a ? _Continue reading ?_ Posted in _Federal Tax Headlines_ |_Leave a comment_ TAX NEWS HEADLINES

_South Carolina ~ Multiple Taxes: Latest Per Capita Income Figure Released_

Posted on _10/31/2011_ by _CCH_ The South Carolina Department of Revenue has announced that the most recently available state per capita income figure for the purpose of calculating property, income, and sales tax incentives is $32,460 (previously, $32,505). Incentives that depend on this figure include ? _Continue reading ?_ Posted in _State Tax Headlines_ |_Leave a comment_ _Ohio ~ Sales and Use Tax: Proposed Rule on Amnesty Payment Plan Is Revised_ Posted on _10/31/2011_ by _CCH_ The Ohio Department of Taxation has revised its proposed rule on the no-interest payment plan allowed under the consumer?s use tax amnesty program established by H.B. 153. In place of guarantors, the taxpayer may provide a surety bond, an irrevocable ? _Continue reading ?_ Posted in _State Tax Headlines_ |_Leave a comment_