by usoftax_admin | Jan 20, 2024 | Tax News
The U.S. Treasury Department is targeting the end of 2024 to wrap up the second round of applications from manufacturers seeking investment tax credit allocations for new or refurbished factories that largely support the green economy, a department official... by usoftax_admin | Jan 20, 2024 | Tax News
The former president of a New York City law enforcement union has been sentenced to 40 months in prison and the union’s former financial adviser to 18 months for defrauding union members out of $500,000. by usoftax_admin | Jan 19, 2024 | Tax News
Although a new rule requiring millions of companies to disclose their beneficial owners to the U.S. Department of the Treasury is now in effect, many may not know they’re on the hook for reporting obligations that attorneys say could come with steep consequences... by usoftax_admin | Jan 19, 2024 | Tax News
The U.S. Treasury Department is actively evaluating issues raised with the 2022 final rules for foreign tax credits to incorporate a forthcoming proposal under an international minimum corporate tax agreement known as Pillar Two, an official said Friday. by usoftax_admin | Jan 19, 2024 | Tax News
Low-income taxpayers may find it difficult to comply with Internal Revenue Service rules that instruct peer-to-peer payment platforms to issue Forms 1099-K when users exceed $5,000 in transactions, a tax professor said. by usoftax_admin | Jan 19, 2024 | Tax News
The House Ways and Means Committee overwhelmingly approved a tax deal Friday that would extend the full tax break for research and development costs and expand the child tax credit for multiple years, though Democrats expressed concerns about the package favoring...