by usoftax_admin | Jan 22, 2025 | Tax News
Former Illinois House Speaker Michael Madigan and his devoted surrogate Michael McClain conspired to enhance and preserve Madigan’s power and line his pockets, both by steering business to the ex-speaker’s law firm and rewarding his political allies with... by usoftax_admin | Jan 22, 2025 | Tax News
Seven people have been accused of trying to defraud the federal government of more than $600 million by filing more than 8,000 false tax returns in what the U.S. Department of Justice on Wednesday called “the nation’s largest COVID-19 tax credit... by usoftax_admin | Jan 22, 2025 | Tax News
Republican and Democratic lawmakers from high-tax states said Wednesday that raising or eliminating the $10,000 cap on the state and local tax deduction would be essential to gaining their support for a bill to renew expiring Tax Cuts and Jobs Act tax breaks. by usoftax_admin | Jan 22, 2025 | Tax News
Renewing the Tax Cuts and Jobs Act would the U.S. more than $4.5 trillion in revenue that could be used to reduce economic inequality, nongovernmental organization Oxfam said in the release of its annual report on inequality. by usoftax_admin | Jan 22, 2025 | Tax News
A former county sheriff did not embezzle money from an account used to buy food for prisoners when she invested the funds in a business that turned out to be a Ponzi scheme, the U.S. Tax Court ruled Wednesday in a dispute over whether she owed taxes on the...