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Whiteman Osterman & Hanna attorney Scott Shimick recently obtained a favorable Determination from the New York State Division of Tax Appeals, which canceled the Department of Taxation’s determination of tax liability.In a comprehensive 15-page Decision, largely adopting the arguments of the Firm made  on behalf of It Works Marketing, Inc., the Division held that the reports issued by the taxpayer to its customers were personal and individual reports that were not substantially [...]

Download PDFOn March 27, 2020, President Trump signed the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), which is designed to provide financial relief to American businesses in response to the economic fallout from the efforts to stem the coronavirus (COVID-19) pandemic.  As part of the CARES Act, Congress provides certain tax credits and incentives for businesses.Employee Retention Credit for EmployersThe CARES Act provides a refundable payroll tax credit for 50% of wages [...]

Download PDFAs the impacts of the spread of COVID-19 continue to influence dramatic changes, businesses and individuals face increasing uncertainty and difficulties. Steps have been taken to ease the administrative burden of filing tax return and paying taxes due.  Additionally, aid, in the form of tax credits, has been provided to assist employers.  Filing and Payment Deadlines DeferredThe IRS has established a policy that provides the following to all taxpayers, that means all [...]

Whiteman Osterman & Hanna is proud to announce Scott Shimick has been selected to The Business Journals' Influencers: Law.  This list spotlights 100 attorneys who are having an impact on business and legal matters in communities across the nation. Congratulations Scott!  Click here for more information.

As part of the 2017 Tax Cuts and Jobs Act (the “TCJA”), Congress created the Qualified Opportunity Zone (“QOZ”) tax benefits.  Owing in part to confusion over the provisions, the QOZ tax benefits were not initially as widely publicized and discussed as most of the other provisions of the TCJA.  However, with the proposed regulations issued by the IRS in October and high-profile funds being created, Qualified Opportunity Funds have been increasingly in the news. [...]