Tag Archives: Refund Opportunity

Massachusetts multiple points of use sourcing update—a surprise reversal by the Appellate Tax Board

The Massachusetts Appellate Tax Board (“ATB”) has—on its own motion—reconsidered and reversed a 2017 decision that denied refund claims for sales tax paid on software downloaded onto servers located in Massachusetts, but used outside of Massachusetts. Taxpayers that paid Massachusetts sales tax on software used outside the Commonwealth may have a refund opportunity and should … Continue Reading

REMIC Excess Inclusion Income – Is It Included in Net Income?

Corporations and financial institutions that hold REMIC residual interests may have a Massachusetts corporate excise tax refund opportunity. REMICs are essentially pools of mortgages that are taxed on a pass-through basis for federal income tax purposes. Interests in REMICs fall into two general categories: regular interests and residual interests.  Typically, the holders of the REMIC … Continue Reading

Taxpayer Challenges Department Authority to Adjust NOL Carryforward, When NOL Was Generated in Tax Years Otherwise Closed by Statute

Can a Department of Revenue auditor reduce a taxpayer’s deduction for a net operating loss (“NOL”) carryforward, even if the NOL was generated in a tax year that is closed under the statute of limitations? This question is the subject of an appeal currently pending at the ATB. The appeal involves a telecommunications company that … Continue Reading
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