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IRS Delays Tax Deadlines For Tenn., Ark. After Storms

by usoftax_admin | Apr 14, 2025 | Tax News

Taxpayers in Tennessee and Arkansas will have until Nov. 3 to file individual and business tax returns and make payments after the states were hit by severe storms and tornadoes this month, the Internal Revenue Service said Monday.

Property Trustees Settle $1M Refund Dispute With IRS

by usoftax_admin | Apr 14, 2025 | Tax News

Trustees of a California property and the IRS agreed to settle a nearly $1 million tax refund dispute over whether the property was being used for business and whether the trust was therefore allowed to carry back operating losses generated in 2017 and 2018.

IRS Cancels Hearing On Commercial Green Vehicle Credits

by usoftax_admin | Apr 14, 2025 | Tax News

The Internal Revenue Service on Monday canceled a hearing scheduled for April 28 on proposed rules for obtaining tax credits for commercial green vehicles under provisions of the Inflation Reduction Act.

EY fined £5.25m by UK watchdog over auditing failures

by usoftax_admin | Apr 14, 2025 | Tax News

Audit engagement partner Christopher Voogd has also been hit with a £32,500 charge over the firm’s work with Stirling Water Seafield Finance

Ala. Justices Nix Owner Property Tax Break For LLC

by usoftax_admin | Apr 11, 2025 | Tax News

An Alabama condominium was correctly reclassified for property tax purposes because the couple who own the property had transferred ownership to a limited liability company, the state Supreme Court ruled Friday.
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