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ABA Attys Seek To Avoid Reporting Foreign Trust Loans

by usoftax_admin | Jul 11, 2024 | Tax News

The American Bar Association’s tax, real estate and trust attorneys are seeking to prevent the U.S. Treasury Department from tightening reporting requirements for the exemption of loans from foreign trusts, which are often used by wealthy families and in...

Railroad Benefits Are Taxable, Tax Court Says

by usoftax_admin | Jul 11, 2024 | Tax News

A retired railroad worker and his wife must include benefits from the Railroad Retirement Board in their taxable income, having failed to prove that the benefits are nontaxable due to their disabilities, the U.S. Tax Court ruled Thursday.

Pa. Lawmakers OK Pittsburgh Homeowner Tax Break Program

by usoftax_admin | Jul 11, 2024 | Tax News

Pennsylvania would authorize Pittsburgh to adopt a property tax relief program that would let longtime homeowners claim tax breaks related to rising real estate taxes under a bill that narrowly passed the state House and next goes to Democratic Gov. Josh...

Mo. To Offer Tax Credits For Investments In Rural Areas

by usoftax_admin | Jul 11, 2024 | Tax News

Missouri will allow the state Department of Economic Development to offer tax credits for capital investments in certain rural areas as part of a bill signed by the governor Thursday.

Pa. Court Nixes School Board’s Early Objections In Tax Fight

by usoftax_admin | Jul 11, 2024 | Tax News

The Pennsylvania Department of Education and state tax board were the proper parties to be named in a group’s challenge to the uniformity of a county’s tax system, the Pennsylvania Commonwealth Court ruled Thursday, rejecting objections from the department...
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