by usoftax_admin | Jun 7, 2024 | Tax News
A company that executed forward-rate agreements cannot claim a loss in connection with the termination of the agreements because its adjusted basis in the agreements was zero, according to a memo released Friday by the IRS Office of Chief Counsel. by usoftax_admin | Jun 7, 2024 | Tax News
The Internal Revenue Service provided updated guidance Friday for automakers planning to provide a report on meeting the battery sourcing requirements that can qualify their new electric vehicle models for the consumer tax credit of up to $7,500. by usoftax_admin | Jun 7, 2024 | Tax News
The Sixth Circuit said Thursday a Michigan federal judge shouldn’t have faulted a law firm for attacking a proposed tax foreclosure class-action settlement in solicitation letters, but nevertheless upheld the judge’s order barring contact with certain... by usoftax_admin | Jun 7, 2024 | Tax News
A court-ordered liquidation of an insurance company won’t cause it to lose its status as a corporation before it completes its final dissolution, the Internal Revenue Service said in a private letter ruling released Friday. by usoftax_admin | Jun 7, 2024 | Tax News
The recent House v. NCAA settlement in California federal court, in which the NCAA agreed to allow schools to directly pay March Madness television revenue to their athletes, may send outside name, image and likeness collectives in-house, says Mike Ingersoll at Womble...