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Taxation Law Section 

 Please watch the listserve for an upcoming joint CLE with the Employment Law Section that will focus on the challenges, pitfalls and compliance strategies associated with using independent contractors and the importance of ensuring that workers are properly classified.
     Noteworthy: Maryland Tax Amnesty Program. As a reminder, the Maryland Tax Amnesty Program runs through October 30, 2015.  The Amnesty Program allows Taxpayers to get current with their delinquent filing and payment obligations while avoiding all civil penalties (other than previously assessed fraud penalties) and paying interest on past-due amounts at one-half of the normal amount. Taxes eligible for the program include: personal income tax, fiduciary income tax, pass-through entity non-resident income tax, corporate income tax, employer withholding tax, sales and use tax and admissions and amusement tax.  Taxpayers who participated in the 2001 or 2009 amnesty programs are not eligible.  Payment options are available for participating taxpayers, provided that at least 10% of the amount due is submitted at the time the amnesty application is filed and that the balance is paid in full no later than December 31, 2016.  More information, including the application to participate in the Tax Amnesty Program (AM-15), can be found on the Comptroller’s website at:
     In Voss v. Comm., (CA 9 8/7/2015) 116 AFTR 2d ¶ 2015-5128A a divided Court of Appeals for the Ninth Circuit, reversing a Tax Court decision, concluded that the Code Sec. 163(h)(3) limitations ($1 million of acquisition indebtedness and $100,000 of home equity indebtedness) apply on a per-individual basis, and not a per-residence basis.  Thus, unmarried co-owners were collectively limited to a deduction for interest paid on a maximum of $2.2 million, rather than $1.1 million, of acquisition and home equity indebtedness.
     Motivated by desire to reduce identity theft, the IRS recently announced temporary regulations to eliminate the availability of automatic extensions for filing forms in the W-2 series.  To provide time for the transition, the temporary regulations are effective for returns due after December 31, 2016.  The Service has also issued proposed regulations that would end the availability of automatic extensions for most other information returns, effective after the proposed regulations are finalized but no earlier than the 2018 filing season. See T.D. 9730, 08/12/2015; Reg. § 1.6081-8T.


John S. Pontius, Jr.
Mark W. Schweighofer


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