by usoftax_admin | Jan 10, 2024 | Tax News
A couple who never told their longtime tax preparer about a Swiss bank account containing more than $2 million owe more than $500,000 each in tax penalties for failing to report the account to the Internal Revenue Service, a New York federal judge ruled... by usoftax_admin | Jan 10, 2024 | Tax News
The Fourth Circuit revived a First Amendment challenge by business groups to Maryland’s digital advertising tax on Wednesday, directing a lower court to consider a case it previously dismissed as moot. by usoftax_admin | Jan 10, 2024 | Tax News
The U.S. Department of the Treasury plans to include a safe harbor for smaller companies in determining the applicability of the corporate alternative minimum tax in upcoming proposed regulations, an official said Wednesday. by usoftax_admin | Jan 10, 2024 | Tax News
The Ninth Circuit was skeptical of a limited partner’s claim that it was entitled to negotiate the sale of a low-income housing project with its general partner’s principal and not an ex-wife awarded authority in a divorce settlement, saying the... by usoftax_admin | Jan 10, 2024 | Tax News
California will not have new or increased taxes but would tap into the state’s rainy day fund to close a nearly $38 billion shortfall, according to a $291.5 billion budget proposed Wednesday by Gov. Gavin Newsom. by usoftax_admin | Jan 10, 2024 | Tax News
As the U.S. Department of the Treasury works on final guidance on two novel ways that project owners can monetize their clean energy tax credits, it is trying to incorporate and address the extensive feedback it has been receiving on the provisions, officials said...