by usoftax_admin | Dec 14, 2023 | Tax News
California’s guidance that disqualifies many internet activities from the protections of the 1959 federal law that insulates businesses from tax on net income when soliciting tangible personal property orders is their only connection to a state is void, a state... by usoftax_admin | Dec 14, 2023 | Tax News
The International Compliance Assurance Program, a multilateral effort to resolve transfer pricing issues, is valuable because it allows the IRS to make a preliminary assessment of a company and help it determine the best use of the agency’s resources, the head... by usoftax_admin | Dec 14, 2023 | Tax News
A North Carolina cellphone retailer should not be required to remit tax on sales of prepaid wireless cards because the cards are gift cards that can be used for nontaxable services and sales, the company told the state Supreme Court. by usoftax_admin | Dec 14, 2023 | Tax News
Congress might halt efforts to claw back more of the nearly $80 billion funding boost the Internal Revenue Service received under the Inflation Reduction Act if the agency is transparent with the improvements it is making with the money, IRS Commissioner Daniel Werfel... by usoftax_admin | Dec 14, 2023 | Tax News
Proposed regulations for the corporate alternative minimum tax are expected to be released in early 2024 and will address a wide range of issues, including the statute’s potential to count offshore income twice, a U.S. Treasury Department official said... by usoftax_admin | Dec 14, 2023 | Tax News
The U.S. Treasury Department offered eligibility and accounting guidance in proposed rules Thursday for producers and sellers of solar wafers, battery cells and other critical components of clean energy technologies that want to take advantage of the new manufacturing...