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Treasury To Allow 3 AMT Transition Methods, Official Says

by usoftax_admin | Sep 24, 2024 | Tax News

Final rules on the new corporate alternative minimum tax are expected to adopt the proposed regulations’ three ways for companies to transition to the regime, and the U.S. Treasury Department is open to other ways as well, a department official said...

NY Tax Dept. Says Foreign IT Services Are Taxable

by usoftax_admin | Sep 24, 2024 | Tax News

A foreign company that provides information technology services to businesses in New York must collect and remit sales tax on receipts from clients within the state, the state Department of Taxation and Finance said Tuesday.

Insurer Wants Quick Appeal At 8th Circ. In DOL Tax Fight

by usoftax_admin | Sep 24, 2024 | Tax News

A health insurer will seek the Eighth Circuit’s review after a federal judge refused to toss a suit from the U.S. Department of Labor claiming the company unlawfully took at least $66.8 million in Minnesota state tax liability from plans it administered to pay...

Exxon Claims It Beat Weak Defense In $1.8B Tax Trial

by usoftax_admin | Sep 24, 2024 | Tax News

Exxon Mobil urged a Texas federal judge to find that it defeated what it called a scattered defense by the U.S. government during a five-day bench trial in April when the company argued for a $1.8 billion tax refund on its natural gas deal with Qatar, according to...

Applications For Low-Income Energy Tax Breaks Due In Oct.

by usoftax_admin | Sep 24, 2024 | Tax News

With more than 50,000 applications for the low-income communities clean energy bonus credit program submitted, three U.S. government agencies announced Tuesday that they will be accepting applications on a rolling basis for most categories through Oct. 10 to make sure...
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