by usoftax_admin | Sep 17, 2024 | Tax News
A North Carolina cell phone retailer wasn’t obligated to remit tax on sales of prepaid wireless cards because the cards are gift cards that can be used for nontaxable services and sales, an attorney for the company told the state Supreme Court Tuesday. by usoftax_admin | Sep 17, 2024 | Tax News
An agreement that saw two children give up their interests in a qualified terminable interest property trust that held the remainder of their mother’s nearly $60 million estate resulted in a taxable gift to the children’s father, the U.S. Tax Court said... by usoftax_admin | Sep 17, 2024 | Tax News
The Vermont Supreme Court on Tuesday upheld the nearly $1.1 million valuation of a residential property determined by a hearing officer, saying the officer was not wrong to base the determination in part on a town assessment that was later found to be... by usoftax_admin | Sep 17, 2024 | Tax News
A mineral rights leasing company set up by an Oklahoma oil businessman can’t take a $1.1 million deduction for what was presented as a microcaptive insurance transaction, the U.S. Tax Court ruled, saying the transaction was not a legitimate insurance... by usoftax_admin | Sep 17, 2024 | Tax News
Julie Chrisley’s prison sentence shouldn’t change even as a Georgia federal judge considers the former reality TV star’s smaller role in a $36 million tax evasion and fraud scheme, prosecutors told the court Monday, noting that her time has already...