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This week in tax: EY US to invest in AI in $1bn pledge

by usoftax_admin | Jun 14, 2024 | Tax News

The ‘big four’ firm has also vowed to spend more on nurturing junior talent; in other news, Blick Rothenberg has hired a pair of tax partners

IRS gives another limited estimated corporate AMT underpayment waiver

by usoftax_admin | Jun 13, 2024 | Tax News

The IRS issued a notice extending earlier relief for a corporation’s failure to pay the part of estimated income tax attributable to the revised corporate alternative minimum tax.

Senate Finance Panel OKs 3 Tax Court Judges, Treasury IG

by usoftax_admin | Jun 13, 2024 | Tax News

The Senate Finance Committee overwhelmingly approved Thursday the nominations of three judges for the U.S. Tax Court and a new inspector general for the U.S. Department of the Treasury, a post that has lacked a Senate-confirmed nominee for five years.

Staffing Hurdles Could Slow Impact Of IRS Audit Boost

by usoftax_admin | Jun 13, 2024 | Tax News

The Internal Revenue Service’s intended ramping up of enforcement on wealthy people, large corporations and complex partnerships may not have a meaningful impact in the short term because of challenges in hiring and training people to do the work.

Canada Should Look Beyond Capital Gains Tax Hike, IMF Says

by usoftax_admin | Jun 13, 2024 | Tax News

Though Canada’s proposed capital gains tax increase would be another positive development for a country that has largely fared well in its pandemic rebound, the country should consider more avenues to raise revenue, the International Monetary Fund said.
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