by usoftax_admin | Dec 3, 2024 | Tax News
Power companies should be allowed to account for an industry-specific tax deduction on repair costs to determine whether they’re subject to the corporate alternative minimum tax, utility giant Exelon said in a comment letter to the U.S. Treasury Department... by usoftax_admin | Dec 3, 2024 | Tax News
Career prosecutors at the U.S. Department of Justice often pride themselves on their ability to remain apolitical in order to ensure consistency and keep the department’s mission afloat, and the incoming Trump administration is unlikely to upend this tradition, says... by usoftax_admin | Dec 3, 2024 | Tax News
The Internal Revenue Service and U.S. Treasury Department announced Tuesday that they will not hold a hearing on a proposed expanded definition of a “coverage month” for purposes of computing the health insurance premium tax credit after receiving no... by usoftax_admin | Dec 3, 2024 | Tax News
Treasury and the Internal Revenue Service said Tuesday that they will accept comments on proposed rules for the new 15% corporate alternative minimum tax on corporations with reported profits of $1 billion or more until Jan. 16, a roughly one-month extension from the... by usoftax_admin | Dec 3, 2024 | Tax News
The owner of a tax business who also ran an insurance company the government says provided fraudulent vehicle registrations for unauthorized immigrants was sentenced to three years in prison for failing to pay more than $1 million in taxes, federal authorities in...