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Texas Oil Co. Says IRS Hasn’t Paid $36M Promised Refund

by usoftax_admin | Jun 3, 2024 | Tax News

The Internal Revenue Service has promised to pay a Texas oil company more than $36 million in tax refunds and credits for the 2009 tax year but has failed to do so, the company told a federal court.

Vanguard Investors Want Class Cert. In Tax Liability Fight

by usoftax_admin | Jun 3, 2024 | Tax News

Investors accusing Vanguard and its top brass of violating its fiduciary duties by triggering a sell-off of assets in target retirement funds in an attempt to lower fees, leaving smaller investors with massive tax bills, asked a Pennsylvania federal court to certify...

Taxes Take Center Stage In Pot Industry Amid Fed. Policy Shift

by usoftax_admin | Jun 3, 2024 | Tax News

The federal government’s move to loosen restrictions on cannabis is expected to trigger a wave of mergers and acquisitions structured as asset deals in the industry, especially among struggling retail operations willing to restructure in order to raise profits...

Blockbuster Summer: 10 Big Issues Justices Still Must Decide

by usoftax_admin | Jun 1, 2024 | Tax News

As the calendar flips over to June, the U.S. Supreme Court still has heaps of cases to decide on issues ranging from trademark registration rules to judicial deference and presidential immunity. Here, Law360 looks at 10 of the most important topics the court has yet...

Bias possible in IRS program for auditing refundable credit returns

by usoftax_admin | May 31, 2024 | Tax News

The IRS said it agrees with the six recommendations from the Government Accountability Office to eliminate the bias.
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