by usoftax_admin | May 24, 2024 | Tax News
A publicly traded parent corporation planning to expand business partly through the separation of two companies will not recognize a gain or loss when it receives the controlled stock of an internal spinoff, the Internal Revenue Service said in a private letter ruling... by usoftax_admin | May 24, 2024 | Tax News
‘Auditors are failing to perform their core function’ according to a think tank; in other news, White & Case adds a tax partner in Luxembourg by usoftax_admin | May 23, 2024 | Tax News
The North Carolina Supreme Court on Thursday backed a $130,000 tax break for an asphalt maker, upholding a lower court’s decision that the company qualified for an exemption reserved for manufacturers even though it sold just a small portion of its... by usoftax_admin | May 23, 2024 | Tax News
About 24 million taxpayers are projected to claim the deduction for qualified business income for a total of an estimated $222 billion in deductions, the Joint Committee on Taxation said in a report released Thursday outlining the effects of various tax measures this... by usoftax_admin | May 23, 2024 | Tax News
A power company’s property in Illinois was not required to pay disputed property taxes before appealing a valuation, the Illinois Supreme Court affirmed Thursday, upholding a reduction in the assessment of about $28 million.