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BOI reporting and unauthorized disclosure penalties increased

by usoftax_admin | Jan 25, 2024 | Tax News

The beneficial ownership information rules and the penalties for violating them just went into effect last month. Now the penalties have increased.

Murphy Disfavors Raising NJ Sales Tax, Mum On Other Hikes

by usoftax_admin | Jan 25, 2024 | Tax News

New Jersey Democratic Gov. Phil Murphy said Thursday that he has no desire to raise the state’s sales tax rate to help fill a looming budget deficit for New Jersey Transit, but he vowed not to fix the shortfall solely through fare increases.

US Fights Trustee’s Demand Of Avenatti’s Tax Return Info

by usoftax_admin | Jan 25, 2024 | Tax News

The U.S. government asked a California federal judge Thursday to allow it to appeal a bankruptcy court’s decision ordering disgraced attorney Michael Avenatti’s tax returns to be released to the trustee overseeing the estate of Eagan Avenatti LLP’s...

UK Tribunal Rejects Ruling On Foreign Dividend Tax Relief

by usoftax_admin | Jan 25, 2024 | Tax News

Investment funds and an insurance company challenging whether their double tax relief claims for taxes paid on foreign dividend payments were proper could face stricter rules on those provisions after a U.K. Upper Tribunal on Thursday rejected a more flexible...

Mass. Tax Panel Says Homeowner Didn’t Show Overvalue

by usoftax_admin | Jan 25, 2024 | Tax News

A homeowner’s use of comparable assessments failed to reach the level of evidence needed to overturn a local valuation of his property for property tax purposes in an opinion released Thursday.

Del. Net General Revenue Up $36M Over Last Fiscal Year

by usoftax_admin | Jan 25, 2024 | Tax News

Delaware general fund receipts were $36 million higher through the first half of the state’s 2024 fiscal year than in the same period of fiscal 2023, according to a report from the state secretary of finance.
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