by usoftax_admin | Mar 10, 2025 | Tax News
A possible cut in half of the number of Internal Revenue Service employees, floated by President Donald Trump’s administration, could profoundly affect state tax administration, particularly if states become more responsible for auditing federal taxable income,... by usoftax_admin | Mar 10, 2025 | Tax News
While European Union members’ collective tax revenue was up nearly 5% to more than €6.7 trillion ($7.3 trillion) in 2023, tax revenue as a share of gross domestic product in the bloc was the lowest it has been since 2011 thanks to inflation, a news release said... by usoftax_admin | Mar 10, 2025 | Tax News
A Colombian-American businesswoman and former Credit Suisse client pled guilty Monday in Florida federal court to conspiring with family members to hide more than $90 million in assets from the IRS through a series of foreign bank accounts. by usoftax_admin | Mar 10, 2025 | Tax News
The U.S. government sued the Federal Deposit Insurance Corp. in D.C. federal court as receiver for the failed First Republic Bank, alleging the bank understated its withholding tax for U.S.-sourced income of foreigners and now owes almost $2 million to the federal... by usoftax_admin | Mar 10, 2025 | Tax News
A couple who said they donated thousands of personal clothing items and supplies to a New York church are not entitled to a $285,000 tax deduction for charity because the two did not have the items correctly appraised, the Tax Court said Monday.