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IRS To Release Self-Employment Tax Regs

by usoftax_admin | May 7, 2024 | Tax News

The Internal Revenue Service plans to release self-employment tax regulations, an agency official said during the Practising Law Institute webcast Tuesday.

Mo. Laundromat May Owe Sales Tax On Customer Payments

by usoftax_admin | May 7, 2024 | Tax News

A Missouri laundromat wouldn’t need to remit sales tax on payments made by its customers for use of its laundry machines if the company already paid sales tax when purchasing the machines, the state Department of Revenue said in a letter ruling.

Calif. Tax Owed By Ex-President Of Delaware Corp., OTA Says

by usoftax_admin | May 7, 2024 | Tax News

The former president of a corporation that was once based in California is the responsible party for the corporation’s sales tax liability, the state Office of Tax Appeals ruled. 

Employment Agency Owner Admits Hiding $10M In Income

by usoftax_admin | May 7, 2024 | Tax News

The owner of a temporary employment agency pled guilty to filing false federal business tax returns to conceal more than $10 million in corporate income, the U.S. Department of Justice announced Tuesday.

Electric Groups Say PIN Rule May Hurt Energy Credit Process

by usoftax_admin | May 7, 2024 | Tax News

While three groups representing electric equipment manufacturers are supportive of the energy efficient home improvement credit, they say its product identification number, or PIN, requirement could harm the process, according to a letter released Tuesday by the U.S....
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