income taxes

Treasury clarifies beneficial tax treatment for S Corp banks

08/09/18

The Treasury Department and the Internal Revenue Service issued a proposal that would allow pass-through businesses like Subchapter S banks to deduct 20% of their business income as part of the new tax law President Trump signed last year.

[more]

Some banks may owe more in state taxes after Supreme Court ruling

07/18/18

The recent decision involved sales taxes, but Wells Fargo recorded a net expense of $481 million under the assumption that it will also lead to higher state income taxes. Other banks may have to follow suit.

[more]

Tax credit unions? Iowa bill could lead the way

02/28/18

Iowa lawmakers are considering a bill that would lower taxes for banks and impose a franchise tax on credit unions. The move could be a bellwether for other states looking at similar measures.

[more]

Merger and tax expenses ding F.N.B.'s bottom line

01/23/18

The Pittsburgh company reported a noisy fourth quarter that included expenses tied to its purchase of Yadkin Financial and a reduction in the value of its deferred tax assets.

[more]

Increased lending, tax benefit lift BankUnited's earnings

01/23/18

The Florida company's fourth-quarter results included double-digit loan growth and a $328 million income tax benefit associated with recently passed tax reform.

[more]

Discharge of Tax debt in Bankruptcy: 3 time rules to remember

09/06/11

To be able to discharge a tax debt, the tax needs to be older than 3 years, correct? I think this what normally people including myself normally remember about discharging taxes.  Let’s see on a recent case: 4.8.11 client filed bankruptcy hoping to discharge 2007 income tax. Correct or not? Well, there are full three [...]

[more]