by usoftax_admin | Dec 19, 2024 | Tax News
The IRS increased the optional standard mileage rate used to calculate the deductible costs of operating a vehicle for business to 70 cents per mile driven, up 3 cents from 2024. by usoftax_admin | Dec 19, 2024 | Tax News
Treasury and the IRS announced that certain portions of future regulations finalizing the proposed regulations for required minimum distributions will apply beginning in the 2026 distribution calendar year. by usoftax_admin | Dec 19, 2024 | Tax News
Washington state would levy a 1% tax on residents with worldwide wealth of more than $100 million and increase taxes on businesses under a budget proposal from outgoing Gov. Jay Inslee. by usoftax_admin | Dec 19, 2024 | Tax News
The U.S. Tax Court on Thursday reduced tax deductions claimed by two partnerships for donating adjoining conservation easements in Georgia and sustained 40% penalties against them for misstating the value of the donations. by usoftax_admin | Dec 19, 2024 | Tax News
To better enforce the law against hiring immigrants unauthorized to work in the U.S., Congress should enact a punitive excise tax on compensation paid to such immigrants and amend the False Claims Act to allow qui tam actions against employers for failure to pay such...