by usoftax_admin | Dec 15, 2023 | Tax News
A process intended to resolve a $24 billion dispute in FTX Trading Ltd.’s bankruptcy case threatens to render moot the fallen crypto company’s plan to repay millions of customers who lost money after the exchange collapsed in late 2022, experts told... by usoftax_admin | Dec 15, 2023 | Tax News
The IRS issued a notice on regarding the application of the corporate alternative minimum tax to shareholders of CFCs and to affiliated groups of corporations filing consolidated returns. by usoftax_admin | Dec 15, 2023 | Tax News
The U.S. Treasury Department is working with other countries to formally extend into next year deadlines and negotiations on open issues under Pillar One, an international agreement to reallocate certain corporate profits, a departing Treasury official said... by usoftax_admin | Dec 15, 2023 | Tax News
The U.S. asked the Eighth Circuit on Friday to reject a transfer pricing method used by the U.S. Tax Court in a decision finding medical device company Medtronic Inc. underreported its income, saying the methodology violated Treasury regulations and still failed to... by usoftax_admin | Dec 15, 2023 | Tax News
The Internal Revenue Service published interim guidance Friday to address concerns about the potential for double counting under the U.S. corporate alternative minimum tax in certain situations when controlled foreign corporations issue dividends. by usoftax_admin | Dec 15, 2023 | Tax News
Applicable federal rates for income tax purposes will be lowered in January, the Internal Revenue Service said Friday.