by usoftax_admin | Feb 14, 2024 | Tax News
Federal prosecutors’ first public indictment of an individual who underreported the capital gains from a nearly $4 million legal sale of Bitcoin indicates that authorities have opened the floodgates for more criminal cases that deal purely with undisclosed gains... by usoftax_admin | Feb 14, 2024 | Tax News
Internal Revenue Code Section 6021(a) gives the IRS broad authority to assess penalties for failing to file a form mandated by Section 6038(b) on which a company reports its foreign corporations, even though that authority isn’t spelled out, a government... by usoftax_admin | Feb 14, 2024 | Tax News
House Democrats and Republicans voted Wednesday against further consideration of a proposal to raise the cap on state and local tax deductions for 2023 for married couples with adjusted gross incomes below $500,000, marking the end of the road for the bill. by usoftax_admin | Feb 14, 2024 | Tax News
The Internal Revenue Service was right to deny a tipster a whistleblower award for reporting delinquent taxpayers because the taxpayers turned themselves in before the agency could follow up on the tip, the U.S. Tax Court ruled Wednesday. by usoftax_admin | Feb 14, 2024 | Tax News
Federal prosecutors hoping to score convictions in a vast pandemic loan fraud operation told jurors on Wednesday that not only had an Atlanta man on trial worked with the scheme’s ringleader to file loan applications with forged tax records, but admitted to the... by usoftax_admin | Feb 14, 2024 | Tax News
A New York couple must add almost $12,000 to their gross income after having failed to properly account for offsetting Social Security benefits that were not disbursed, the U.S. Tax Court ruled Wednesday.