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Colo. Bill Seeks Tax Credit For Mortgage Rate Buy-Downs

by usoftax_admin | Jan 30, 2024 | Tax News

Colorado would allow an income tax credit for home sellers who finance mortgage rate buy-downs for the buyers of a property under a bill introduced in the state House of Representatives.

Del. Justices Clarify Fee-Shifting In Public Interest Cases

by usoftax_admin | Jan 30, 2024 | Tax News

In a decision Tuesday offering guidance on attorney fee-shifting in public interest cases, Delaware’s Supreme Court reversed a decision that awarded fees to nonprofit organizations that successfully challenged the use of outdated tax assessments in determining...

Ind. Senate Tax Committee OKs Easing Sales Tax Nexus

by usoftax_admin | Jan 30, 2024 | Tax News

Indiana would ease its sales tax nexus laws, removing a stipulation that retailers with a certain number of sales per year must collect and remit sales tax, under a bill unanimously approved Tuesday by the Senate tax policy committee.

Colo. Bill Seeks Tax Break For Building Conversion Costs

by usoftax_admin | Jan 30, 2024 | Tax News

Colorado would create an income tax credit for costs associated with the conversion of commercial buildings to residential structures under a bill introduced in the state House of Representatives.

Colo. House Bill Proposes Unitary Corporate Tax Model

by usoftax_admin | Jan 30, 2024 | Tax News

Colorado would replace its combined reporting standard for corporate income taxes with the Multistate Tax Commission’s standard and would modify its receipts factor to make it more congruent with the unitary business principle under legislation introduced in the...

Investor Says He’s Owed Damages For Stocks Seized By IRS

by usoftax_admin | Jan 30, 2024 | Tax News

The IRS should pay a Los Angeles investor more than $500,000 in damages for improperly seizing and selling off his stocks to satisfy a $7.2 million late penalty that the agency mistakenly assessed against him, he told a California federal court.
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