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9 Things Tax Pros Are Grateful for This Thanksgiving

Law360 Tax Authority

From the extension of federal and state tax deadlines due to the novel coronavirus pandemic to the partial exemption for global intangible low-taxed income, tax professionals have much to be thankful for this Thanksgiving season. 

Here, Law360 reviews nine tax developments that professionals are grateful for in 2020.


Returning To Normalcy?

Craig B. Fields, a tax partner who leads the state and local tax practice at Blank Rome LLP, said he was grateful the SALT world was beginning to look a bit more normal; however, there is still a long way to go.  

“For example, for many months state tax agencies stopped holding hearings and courts did not issue many decisions, [but] recently, state tax agencies have restarted the holding of hearings,” he said. “Although most hearings are now being held virtually rather than in person, it is still great seeing people again, many of whom I have known and dealt with for over 20 years.”

Fields also appreciates that courts have begun issuing decisions again, which have brought recent taxpayer victories. 

Among these is the Ohio Supreme Court's decision in Defender Security Company v. McClain. In this case the court found (2020 Law360 273-65) a security company did not owe tax on fees for alarm service contracts sold to the security service provider ADT, finding the receipts were sourced to ADT's out-of-state offices rather than the in-state locations of customers.

These types of decisions and hearings provide both state tax authorities and taxpayers much-needed finality to their tax issues, Fields said.

“It is great to see the state tax world beginning to return to how it had been,” he said. “I look forward to being able to return to in-person hearings and arguments as well as attending in-person conferences where I can see and speak with individuals who have been my friends for so many years.”

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“9 Things Tax Pros Are Grateful for This Thanksgiving,” by Amy Lee Rosen was published in Law360 Tax Authority on November 23, 2020.