Brady Ware News

It’s a New Year and we are committed to a fresh approach

It’s a New Year and we are committed to a fresh approach By Bob Reynolds, CPA, CGMA We welcomed in 2019 about six weeks ago so we felt it appropriate to pause and reflect on how we are doing with our New Year’s resolutions. With the coming of a new year many of us resolve…

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Claims Court Upholds FBAR Penalty Exceeding Regulatory Cap

Claims Court Upholds FBAR Penalty Exceeding Regulatory Cap In a recent case, the U.S. Court of Federal Claims granted summary judgment in the IRS’s favor and determined that a taxpayer’s failure to file a Report of Foreign Bank and Financial Accounts (FBAR) was willful. As part of its Kimble v. U.S. decision, the court upheld…

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Tax-Free Transportation Fringe Benefits Update

What’s Happened to My Tax-Free Transportation Fringe Benefits? Over the years, Congress has established some nice tax breaks for transportation-related employee fringe benefits to encourage taxpayers to be more ecology-minded when commuting to work. But, the Tax Cuts and Jobs Act (TCJA) is changing the landscape for these tax-favored fringe benefits, and not in a…

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Ohio State and Local Tax Updates February 2019

Ohio tax commissioner denies request for charitable use property tax exemption February 13, 2019 An Ohio taxpayer, described as a “community life center,” said it held weekly workshops at a residence on its property to help individuals break “negative cycles.” The program’s co-founders lived in the residence. The OH Board of Tax Appeals (BTA) affirmed the…

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Georgia State and Local Tax Updates February 2019

Georgia rules on tax-free lease equipment purchases February 13, 2019 The Georgia Court of Appeals affirmed a trial court’s dismissal for lack of standing of a refund action brought by several Internet service providers (ISPs). The ISPs sought a refund of sales taxes they charged customers and contended were erroneously paid. GA provides dealers with…

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