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Pardoned NJ Atty Suspended Over Tax, Fraud Convictions

by usoftax_admin | May 15, 2024 | Tax News

A former Gilmore & Monahan PA partner — who was convicted of failing to pay payroll taxes and lying on a loan application, and was pardoned by then-President Donald Trump — has received a two-year suspension from practicing law in New Jersey, though it will be...

IRS Not On Hook For Ohio Woman’s Legal Fees, Court Says

by usoftax_admin | May 15, 2024 | Tax News

The Internal Revenue Service is not liable to pay nearly $87,000 in legal fees of an Ohio woman because the agency’s position was “substantially justified” throughout the woman’s pursuit of a refund, the U.S. Tax Court ruled Wednesday.

Applicable Federal Interest Rates To Rise In June

by usoftax_admin | May 15, 2024 | Tax News

Applicable federal rates for income tax purposes will increase in June, the Internal Revenue Service said Wednesday.

IRS Issues Static Mortality Tables For 2025 Defined Plans

by usoftax_admin | May 15, 2024 | Tax News

The Internal Revenue Service on Wednesday released the updated static mortality tables used to calculate the funding target and other items for defined benefit pension plans during the 2025 calendar year.

Pension Plan Segment Rates Increase In May

by usoftax_admin | May 15, 2024 | Tax News

Segment rates for calculating pension plan funding rose in May, the Internal Revenue Service said Wednesday.
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