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Corp. Can’t Fight IRS Nix Of Nonprofit Status, 9th Circ. Told

by usoftax_admin | Jan 4, 2024 | Tax News

The U.S. Tax Court correctly blocked a suspended California corporation from challenging the revocation of its nonprofit status by the Internal Revenue Service, the federal government told the Ninth Circuit, saying the corporation lacked the ability to litigate under...

TIGTA OKs IRS’ Report On Drug Control Policy Budget

by usoftax_admin | Jan 4, 2024 | Tax News

The Internal Revenue Service’s 2023 report disclosing certain drug control-related expenses does not require any material modifications, the Treasury Inspector General for Tax Administration said in a report published Thursday.

11th Circuit Rejects Man’s Appeal In PPP Loan Fraud Scheme

by usoftax_admin | Jan 4, 2024 | Tax News

The 11th Circuit affirmed the convictions of a man stemming from the receipt of a fraudulent $300,000 loan under the Paycheck Protection Program.

Here are the key tax cases to watch in 2024

by usoftax_admin | Jan 4, 2024 | Tax News

Transfer pricing, alleged tax fraud and disputes over back taxes all feature in this year’s ITR list of tax cases to watch

Draft form, instructions posted for corporate AMT

by usoftax_admin | Jan 3, 2024 | Tax News

The IRS instructions say that all corporations must file Form 4626, unless they fall under one of four exclusions, to determine whether they are an applicable corporation, and, if so, to calculate the tax.

Pot Co. Suit Slams Calif. Tax Dept.’s ‘Massive Overcollection’

by usoftax_admin | Jan 3, 2024 | Tax News

A unit of Catalyst Cannabis Co. is accusing California’s tax office of abusing its emergency powers to force dispensaries to pay cannabis excise taxes on “accessories,” according to a lawsuit filed in state court that suggests the state specifically...
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