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House Panel To Consider Axing $600 Payment Reporting Law

by usoftax_admin | Sep 10, 2024 | Tax News

The House Ways and Means Committee is set to consider legislation Wednesday that would repeal a law requiring peer-to-peer payment platforms such as Venmo and PayPal to report aggregate payments of $600 or more, among other bills.

FCC Chair Vows High Court Fight Over Universal Service

by usoftax_admin | Sep 10, 2024 | Tax News

Federal Communications Commission Chair Jessica Rosenworcel told educators the agency will ask the U.S. Supreme Court to overturn a recent Fifth Circuit decision against the Universal Service Fund, the federal program that subsidizes telecom service to low-income and...

Trailer Co. Seeks Refund Of $4M In Highway Excise Taxes

by usoftax_admin | Sep 10, 2024 | Tax News

The Internal Revenue Service erroneously assessed federal highway excise taxes on a South Dakota trailer manufacturer even though the agency had already determined that the trailers were exempt from the tax, the company told a federal court as it sought a tax refund...

IRS Extends Tax Deadlines For NY, Conn. Storm Victims

by usoftax_admin | Sep 10, 2024 | Tax News

Victims of severe storms and flooding in New York and Connecticut will have more time to file some tax returns and make estimated payments, the Internal Revenue Service announced Tuesday.

‘An easy win’: experts on UK chancellor’s CT-capping plan

by usoftax_admin | Sep 10, 2024 | Tax News

UK tax advisers have branded Reeves’ pledge to cap corporation tax at 25% as “a smart move” and “an easy give”
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