by usoftax_admin | Oct 31, 2024 | Tax News
Exxon Mobil is entitled to an interest expense deduction on payments to Qatar under a natural gas deal, a Texas federal judge ruled, rejecting the U.S. government’s classification of an underlying transaction as a royalty rather than a loan. by usoftax_admin | Oct 31, 2024 | Tax News
U.S. rulemakers plan to further address how the country’s corporate alternative minimum tax applies to transactions including spinoffs and deals that involve a member of a tax consolidated group, a U.S. Treasury Department official said Thursday. by usoftax_admin | Oct 31, 2024 | Tax News
The gap between federal taxes owed and paid — recently estimated at $696 billion for 2022 — could be addressed in several ways, including increasing information reporting or simplifying the tax code, experts told Law360. by usoftax_admin | Oct 31, 2024 | Tax News
Because courts’ standing orders on generative artificial intelligence and other safeguards do not address the risk of hallucinations in secondary source materials, the judiciary should consider enlisting legal publishers and database hosts to protect against... by usoftax_admin | Oct 31, 2024 | Tax News
A professional basketball player was sentenced to three years of probation in Ohio federal court after being charged with conspiracy and wire fraud for allegedly attempting to avoid paying child support and taxes for several years.