by usoftax_admin | Feb 6, 2024 | Tax News
A California marijuana dispensary owes $230,000 in additional sales taxes after state regulators ruled the company intentionally misled tax officials about the amount of cash revenue the business was generating, the state Office of Tax Appeals ruled. by usoftax_admin | Feb 6, 2024 | Tax News
The Internal Revenue Service should establish goals for its special compliance fund to optimize the fund’s performance, the Government Accountability Office said in a report published Tuesday. by usoftax_admin | Feb 6, 2024 | Tax News
The Inflation Reduction Act’s investment in the Internal Revenue Service could raise $497 billion over a decade, marking a significant increase over the agency’s previous estimates of how much revenue the law’s funding boost would generate, the... by usoftax_admin | Feb 6, 2024 | Tax News
Two California taxpayers must pay a penalty after failing to timely file their 2017 return despite multiple demands from tax officials, the state Office of Tax Appeals ruled, saying they couldn’t cite their reliance on an accountant to avoid the penalty. by usoftax_admin | Feb 6, 2024 | Tax News
Billionaire Republican donor Harlan Crow may have taken illegal tax deductions for a yacht he used to entertain family and friends, including Justice Clarence Thomas of the U.S. Supreme Court, the leader of the Senate Finance Committee said Tuesday, citing new... by usoftax_admin | Feb 6, 2024 | Tax News
A Texas man who pled guilty in 2023 to evading more than $1 million in taxes on foreign income will serve 41 months in prison and pay fines and restitution of $1.3 million, a Texas federal court ruled.