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Ind. Tax Board Denies Exemption For Undeveloped Property

by usoftax_admin | Oct 28, 2024 | Tax News

A religious organization in Indiana cannot claim a property exemption for a property to be developed because it was unable to show substantial progress toward the completion of the building, the state Board of Tax Review said.

Ind. Tax Board Orders Vacant Land Be Reassessed

by usoftax_admin | Oct 28, 2024 | Tax News

An Indiana property valued as vacant land should be reassessed, the state Board of Tax Review said, and the property should be considered nontillable agricultural land.

IRS Extends Relief For FATCA Filings Without ID Numbers

by usoftax_admin | Oct 28, 2024 | Tax News

Foreign financial institutions that report information on U.S. account holders to the Internal Revenue Service without including the taxpayer identification numbers associated with those accounts won’t be flagged for noncompliance for the next three years, the...

Tenn. ALJ Boosts Home’s Tax Value By A Third

by usoftax_admin | Oct 28, 2024 | Tax News

A Tennessee administrative law judge boosted a home’s tax value by more than one-third after siding with a local assessor’s office that brought a counterclaim against an appeal by the home’s owners, who sought a lower figure.

Judicial Committee Best Venue For Litigation Funding Rules

by usoftax_admin | Oct 28, 2024 | Tax News

The Advisory Committee on Civil Rules’ recent decision to consider developing a rule for litigation funding disclosure is a welcome development, ensuring that the result will be the product of a thorough, inclusive and deliberative process that appropriately...
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