Christopher Nuss

2016 Tax Return Preparation Reminders

It’s that time of year again when folks are sorting out (or maybe just starting to sort out) their tax return filing obligations for 2016. As this is done, consider whether any of the following apply to you – this tax season I’ve been seeing and advising on these topics frequently. Limitations on the deductibility of pass-through losses on your... Read More

Iowa's Out-of-State Tax Credit and the Wynne Decision - Are You Due an Income Tax Refund?

The Supreme Court Decision On May 18, 2015, the United States Supreme Court released its decision in Comptroller of the Treasury of Maryland v. Wynne, which held unconstitutional a tax practice in the State of Maryland that allowed an out-of-state tax credit to be applied to state income tax, but not to local county tax paid by a resident. The... Read More

Partnership Audit Rules are Changing in 2018

Background. In October, Congress enacted the Bipartisan Budget Act of 2015 (the Act), which contained changes to the IRS partnership audit techniques. These changes were in response to a growing concern that the IRS was unable to effectively and efficiently audit partnerships due to various cumbersome rules and procedures, especially as they... Read More

State of Iowa Property Tax Reform

This past summer, Governor Branstad signed into law various revisions to how the State of Iowa (the “State”) imposes property tax on business and residential properties, with an emphasis on alleviating the tax burden on small businesses. Within the past month, the Department of Revenue (the “Department”) announced procedures for how certain parts... Read More