by usoftax_admin | Dec 21, 2023 | Tax News
The Minnesota Tax Court lowered the valuation of a residential treatment center property to roughly $3 million for 2020 and 2021 in an independent determination, saying neither the county assessor nor property owner correctly valued the parcel. by usoftax_admin | Dec 21, 2023 | Tax News
The Streamlined Sales Tax Governing Board on Thursday narrowly rejected proposed changes to the tax compact it oversees that would have clarified that challenges can be lodged against certain board decisions, including whether a state’s tax system complies with... by usoftax_admin | Dec 21, 2023 | Tax News
The House Ways and Means Committee called on IRS Commissioner Daniel Werfel on Thursday to testify regarding the agency’s delay in implementing new Form 1099-K reporting thresholds for third-party payment platforms. by usoftax_admin | Dec 21, 2023 | Tax News
The former head of a Swiss financial services company pled guilty Thursday to participating in an offshore tax avoidance scheme that allowed wealthy Americans to dodge U.S. taxes for years on $60 million in income and assets, the U.S. Department of Justice said. by usoftax_admin | Dec 21, 2023 | Tax News
IRS procedures played a key role in tax-related litigation this year, with the U.S. Supreme Court affirming a decision to allow agency summonses for a law firm’s banking records and the Sixth Circuit tossing aside a prior decision vacating an IRS enforcement... by usoftax_admin | Dec 21, 2023 | Tax News
Progress made by the Internal Revenue Service toward developing a digital asset monitoring strategy has stalled until the agency releases final guidance on certain topics, the Treasury Inspector General for Tax Administration said in a report published Thursday.