Contact: Berdon LLP (New York, New York, USA)

Updates as Tax Laws Change

Washington's confrontational atmosphere, coupled with some heated presidential electioneering, creates a particularly uncertain tax climate. The Berdon LLP 2015-16 Tax Planner is your easy-to-use reference tool as well as a resource to help you identify opportunities that can benefit your particular financial circumstances.

Read more: The Berdon 2015-16 Tax Planner

Contact: Marc Ausfresser, J.D., LL.M., Berdon LLP (New York, New York, USA)

A temporary highway and transportation spending act1 signed into law by President Obama on July 31, 2015 was designed to offset the cost of highway expenses without raising taxes. The result is a new array of tax compliance measures projected to generate $5 billion in revenue over 10 years. Since this is a stop-gap measure, scheduled to sunset on October 29, 2015, the House and Senate will eventually need to revisit this funding.

Read more: Transportation Act Imposes New Tax Compliance Requirements

Contact: David Prichard, ESV (New South Wales, Australia)

Businesses could be hit with significant increased tax liabilities and additional compliance costs if changes to an obscure tax law are ultimately enacted. The change in the tax law was flagged back in May 2013, however, draft legislation was not released until recently.

Read more: More Tax Consolidation Changes Giving More Uncertainty in Australia!

Contact: Cohen & Company (Ohio, USA)

On June 26, exactly two years since its decision in United States v. Windsor striking down part of the federal Defense of Marriage Act (DOMA), the U.S. Supreme Court issued another landmark ruling regarding same-sex marriage. In Obergefell v. Hodges, the Court held that same-sex couples have a constitutional right to marry, effectively making same-sex marriage legal in all 50 states. The decision has numerous implications for the tax, estate and retirement planning of same-sex couples and will also affect some employers in states that had not previously recognized same-sex marriage.

Read more: Marriage Ruling Means Significant Changes for Same-Sex Couples and Employers

Contact: Fineman West (Los Angeles, California, USA)

The Franchise Tax Board recently rereleased an announcement about nonresident withholding. This rule applies to California services provided and when paying rent, royalties, trust distributions, business distributions, prizes, winnings and endorsement fees within California.

Read more: Franchise Tax Board Notice: Nonresident Withholding