by usoftax_admin | Feb 1, 2024 | Tax News
A Texas couple who bought insurance policies from agencies controlled by themselves cannot deduct more than $1 million in premiums, the U.S. Tax Court ruled Thursday. by usoftax_admin | Feb 1, 2024 | Tax News
Donald Trump’s longtime top financial officer Allen Weisselberg is in plea negotiations related to potential perjury charges stemming from his testimony in the New York attorney general’s civil fraud trial, according to a source familiar with the... by usoftax_admin | Feb 1, 2024 | Tax News
The U.S. Treasury Department opted not to appeal an Eleventh Circuit ruling in favor of 13 states that challenged the American Rescue Plan Act’s limitations on using federal pandemic aid to pay for tax cuts, the agency said in a letter disclosed Thursday. by usoftax_admin | Feb 1, 2024 | Tax News
The federal government asked the U.S. Supreme Court to stop the bankruptcy trustee of a Utah company from being allowed to recoup federal tax payments, saying the issue is the subject of a growing circuit split and stands to deplete the federal purse illegally. by usoftax_admin | Feb 1, 2024 | Tax News
As law firms face ever-increasing risks of cyberattacks and ransomware incidents, the legal industry must implement robust cybersecurity measures and privacy-centric practices to preserve attorney-client privilege, safeguard client trust and uphold the profession’s... by usoftax_admin | Feb 1, 2024 | Tax News
Proposed legislation that would raise the cap on state and local tax deductions for 2023 for married couples with adjusted gross incomes below $500,000 advanced to the full House of Representatives on Thursday following a House panel vote.