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Thomas Gets Laugh, Agrees Prior Ruling Is ‘Embarrassment’

by usoftax_admin | Jan 19, 2024 | Tax News

The specter of a major 2005 telecommunications ruling hung over U.S. Supreme Court Justice Clarence Thomas on Wednesday as he and his colleagues considered whether to toss the court’s decades-old precedent instructing judges to defer to federal agencies’...

5 Key Takeaways From Supreme Court’s Chevron Arguments

by usoftax_admin | Jan 19, 2024 | Tax News

U.S. Supreme Court justices questioned Wednesday whether overturning a decades-old precedent instructing courts to defer to federal agencies’ interpretations of ambiguous statutes would lead judges to legislate from the bench or diminish the value of Supreme...

DOL Unveils Automatic Portability Reg Tied To Secure 2.0

by usoftax_admin | Jan 18, 2024 | Tax News

The U.S. Department of Labor proposed a rule Thursday on automatic portability transactions affecting 401(k) plans that would allow service providers to earn compensation in connection with retirement plan rollovers set up for workers changing jobs, which Congress...

Experts Laud Affordable Housing Credits In Tax Proposal

by usoftax_admin | Jan 18, 2024 | Tax News

Changes to the nation’s largest affordable housing subsidy, which are tucked into a bipartisan tax package scheduled for markup Friday by a U.S. House committee, could add more than 200,000 affordable rental units in two years.

Ariz. Resolution Seeks Vote On Tax Break For Virtual Currency

by usoftax_admin | Jan 18, 2024 | Tax News

Arizona would ask voters to approve a proposed amendment to the state constitution to provide a property tax exemption for virtual currency under a concurrent resolution filed in the state Senate.

Mass. Biz Groups Balk At Local Option Tax In Housing Bill

by usoftax_admin | Jan 18, 2024 | Tax News

Massachusetts business leaders spoke out Thursday against a provision in Democratic Gov. Maura Healey’s housing bill that would allow local governments to enact real estate transfer taxes on high-value property sales to boost affordable housing.
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