by usoftax_admin | Dec 21, 2023 | Tax News
The American Bar Association Tax Section has cautioned the Internal Revenue Service against its expanded definition of “broker” in proposed digital asset rules, saying it is too broad and could lead to unfair burdens on taxpayers and the IRS, increased... by usoftax_admin | Dec 21, 2023 | Tax News
The Inflation Reduction Act contained major tax breaks for the biogas industry, but recent proposed rules for the law’s investment tax credit could leave producers of renewable natural gas, a refined form of biogas used as transportation fuel, out in the... by usoftax_admin | Dec 21, 2023 | Tax News
A Michigan judge on Thursday tossed a lawsuit from business groups, state lawmakers and residents that sought to keep a 2023 income tax rate cut from expiring, holding that the claims weren’t ripe and that the tax reduction is temporary. by usoftax_admin | Dec 21, 2023 | Tax News
Russian President Vladimir Putin signed a law suspending portions of 38 Russian double-taxation treaties, transposing an executive order from earlier this year that ended treaties with what he called “unfriendly” countries, according to a Kremlin... by usoftax_admin | Dec 21, 2023 | Tax News
Businesses that believe they received employee retention credits they weren’t entitled to will be required to repay only 80% of the claim if they are accepted into a voluntary disclosure program launched Thursday by the Internal Revenue Service. by usoftax_admin | Dec 21, 2023 | Tax News
The contributions that an Internal Revenue Service whistleblower made to the pursuit of three nonfilers do not warrant a reward, the U.S. Tax Court ruled Thursday.