by usoftax_admin | Apr 10, 2025 | Tax News
An Ohio man can’t claim a loss for the $856,000 seized from his corporation after he pled guilty to his role in a bribery scheme, the U.S. Tax Court said Thursday, affirming the Internal Revenue Service’s disallowance because the loss was due to a criminal... by usoftax_admin | Apr 10, 2025 | Tax News
The Kansas Legislature on Thursday overrode the governor’s veto of a bill that decreases the state’s income and privilege tax rates if certain general revenue fund goals are met. by usoftax_admin | Apr 10, 2025 | Tax News
A bill introduced Thursday in the Senate would end the national emergency declared by President Donald Trump to underpin the global tariff regime he unveiled last week, with Sens. Rand Paul, R-Ky., Ron Wyden, D-Ore., and Chuck Schumer, D-N.Y., among the... by usoftax_admin | Apr 10, 2025 | Tax News
Part of a man’s $35,000 settlement payment from a Massachusetts town following his claim that he was hurt during his arrest and incarceration on charges of domestic assault is deductible as damages paid for physical injuries, the U.S. Tax Court said... by usoftax_admin | Apr 10, 2025 | Tax News
Residents of certain states who earn income in Minnesota for fewer than 30 days in a tax year would be exempt from filing income tax returns in the state under legislation advanced Thursday by a state House panel.