by usoftax_admin | Sep 23, 2024 | Tax News
A California woman made good-faith attempts to substantiate her gambling losses and therefore may claim a roughly $62,000 tax deduction, but she is still liable for an accuracy-related penalty for the year in question, the U.S. Tax Court said Monday. by usoftax_admin | Sep 23, 2024 | Tax News
The U.S. Department of Justice’s Tax Division is seeing its casework flooded with taxpayer arguments citing the U.S. Supreme Court’s decision in Loper Bright overturning the Chevron doctrine, and that’s not likely to change soon, a division chief... by usoftax_admin | Sep 23, 2024 | Tax News
Vanguard agreed to settle a proposed class action by investors who accused the company of violating its fiduciary duties when it triggered a sell-off of assets that left them with massive tax bills, according to a Pennsylvania federal court order Monday. by usoftax_admin | Sep 23, 2024 | Tax News
Two former bankruptcy judges and a group of law professors threw their support behind the bankruptcy trustee of a Utah transportation company seeking to convince the U.S. Supreme Court that the IRS, like any other creditor, should have to return payments deemed... by usoftax_admin | Sep 23, 2024 | Tax News
The Internal Revenue Service is in the final stages of updating revenue procedures to help multinational corporations pursue advance pricing agreements and resolve tax treaty disputes, and it will release the guidance soon, an agency official said Monday.