by usoftax_admin | Jan 18, 2024 | Tax News
A Florida appeals court ruled that State Farm failed to include the full amount of tax-exempt interest earned from state and local bonds in its adjusted federal income, upholding a lower court’s finding that the insurer owed the state $2.7 million in additional... by usoftax_admin | Jan 18, 2024 | Tax News
The family and business tax breaks, affordable housing provisions and disaster relief proposals included in the tax bill that the House Ways and Means Committee is scheduled to consider Friday would cost about $77.5 billion, the Joint Committee on Taxation said in a... by usoftax_admin | Jan 18, 2024 | Tax News
A businessman’s $400,000 penalty for failing to report his foreign enterprises should be reinstated after the U.S. Tax Court wrongly determined that the Internal Revenue Service could not collect the penalty, the U.S. told the D.C. Circuit. by usoftax_admin | Jan 18, 2024 | Tax News
Another group of New Yorkers, including several city councilmembers, have joined the legal battle to halt congestion pricing, alleging in a new federal lawsuit Thursday that New York City’s plan to charge all drivers a fee to enter midtown Manhattan would harm... by usoftax_admin | Jan 18, 2024 | Tax News
A handful of tax-exempt organizations will not be able to file certain forms electronically until mid-March because of system upgrades, the Internal Revenue Service said Thursday. by usoftax_admin | Jan 18, 2024 | Tax News
Kansas would adopt a flat income tax rate of 5.25% beginning in 2025 and reduce the state’s bank tax to 1.63% under a conference committee report passed by the state House of Representatives on Thursday.