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Calif. Man Owes 6 Years Of FBAR Penalties, IRS Tells Court

by usoftax_admin | May 31, 2024 | Tax News

A Californian has failed to pay foreign bank account reporting penalties he was assessed that were tied to a business he owed in Mexico for six years, the Internal Revenue Service told a federal court.

Fuel Producers Should Apply ASAP For Tax Credit, IRS Says

by usoftax_admin | May 31, 2024 | Tax News

Fuel producers hoping to start claiming the clean fuel production credit as soon as January should register with the Internal Revenue Service by July 15, the agency said Friday, warning that registration applications made after that date are less likely to go through...

IRS Delays Deadlines For Mass. Taxpayers Hit By 2023 Storms

by usoftax_admin | May 31, 2024 | Tax News

Certain Massachusetts taxpayers impacted by severe storms and flooding that hit the state Sept. 11 now have until July 31 to file various individual and business tax returns and make payments, the Internal Revenue Service said Friday.

Taxation With Representation: Cravath, Cleary, Fried Frank

by usoftax_admin | May 31, 2024 | Tax News

In this week’s Taxation With Representation, T-Mobile buys United States Cellular Corp.’s wireless operations, Energy Transfer plans to buy WTG Midstream, ConocoPhillips acquires Marathon Oil, and Goldman Sachs Alternatives raises over $20 billion for its...

This week in tax: China considering ‘record fine’ for PwC over Evergrande

by usoftax_admin | May 31, 2024 | Tax News

PwC reportedly faces a minimum penalty of $137.9 million according to sources familiar with the matter; in other news, KPMG merges its Swiss and UK arms
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