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Ala. Year-To-Date Revenue Down From Last Year, Data Shows

by usoftax_admin | Jan 8, 2024 | Tax News

Alabama’s fiscal year-to-date net revenue collections through December decreased by 0.23% compared with figures reported for the previous fiscal year, according to data published by the state Department of Revenue.

Advice memorandum shows IRS approach to intercompany debt pricing

by usoftax_admin | Jan 8, 2024 | Tax News

Mark Martin and Thomas Bettge of KPMG in the US discuss the issue of implicit support and a recent IRS advice memorandum addressing transfer pricing for intercompany debt

Mass. Justices Quiz Ad Co. On Billboard Tax Exemption

by usoftax_admin | Jan 8, 2024 | Tax News

Massachusetts justices challenged an advertising company’s claim that billboards it manages for the Massachusetts Bay Transportation Authority should be exempt from property taxation, with the justices suggesting Monday that the for-profit use of the billboards...

IRS Sets Start Date For 2024 Tax Filing Season

by usoftax_admin | Jan 8, 2024 | Tax News

The Internal Revenue Service will begin accepting tax returns for the 2023 tax year on Jan. 29, the agency announced Monday.

Spending Deal Would Accelerate $20B IRS Funding Cut

by usoftax_admin | Jan 8, 2024 | Tax News

Some $20 billion in funding the Internal Revenue Service received under the Inflation Reduction Act would be clawed back in 2024 instead of being spread out over two years under an agreement reached by congressional Democrats and Republicans.

US Seeks $903K Tax Judgment Against ‘Empire’ Star

by usoftax_admin | Jan 8, 2024 | Tax News

The U.S. government should be allowed to collect on $903,000 in unpaid tax liabilities of the “Empire” television show actor Terrence Howard, the U.S. government told a Pennsylvania federal court Monday.
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