by usoftax_admin | Feb 6, 2025 | Tax News
Democrats in the House of Representatives and Senate proposed on Thursday ending the favorable tax treatment of income from carried interest, saying they want to close what they describe as a tax loophole that unfairly benefits professional investors. by usoftax_admin | Feb 6, 2025 | Tax News
The federal government plans to challenge an order preventing it from enforcing the Corporate Transparency Act’s reporting requirements for businesses, following the U.S. Supreme Court’s pause of another nationwide block on the law in a separate case,... by usoftax_admin | Feb 6, 2025 | Tax News
The IRS correctly upheld a levy for over $11.2 million in quarterly taxes owed by a South Carolina business, the U.S. Tax Court said Thursday, finding that it brought a collection alternative on to-be-processed employee retention credits too late. by usoftax_admin | Feb 6, 2025 | Tax News
A Washington, D.C., federal judge on Thursday approved a consent order blocking Elon Musk and additional Department of Government Efficiency employees from accessing the federal government’s payment systems, although a “special government employee”... by usoftax_admin | Feb 6, 2025 | Tax News
Counsel for members of a wealthy extended family accused of shorting the IRS nearly $81 million by knowingly participating in an unlawful tax shelter told a Manhattan federal judge Thursday that the creator of the so-called Son-of-Boss scheme is to blame.