by usoftax_admin | Nov 30, 2023 | Tax News
A pair of bills introduced Thursday in the U.S. Congress would exempt kombucha from excise taxes on alcoholic beverages. by usoftax_admin | Nov 30, 2023 | Tax News
Bankrupt cryptocurrency exchange FTX asked a Delaware bankruptcy judge to set its tax bill at zero dollars, arguing that the Internal Revenue Service’s estimated $24 billion in claims threaten to halt any progress in getting a Chapter 11 plan approved. by usoftax_admin | Nov 30, 2023 | Tax News
California’s highest court agreed to consider an emergency petition by Democratic Gov. Gavin Newsom and Democratic leaders in the California Legislature to strike from the 2024 ballot a measure that would make it harder to create or raise taxes. by usoftax_admin | Nov 30, 2023 | Tax News
Citigroup is entitled to nearly $183 million in tax deductions in a dispute over its predecessor’s accounting of excess liabilities that belonged to a failing bank acquired during the 1980s savings and loan crisis, the U.S. Court of Federal Claims said. by usoftax_admin | Nov 30, 2023 | Tax News
The U.S. Tax Court rejected the claims of a former spine surgeon who said insurance changes in his medical practice were partly to blame for his failure to pay federal taxes, upholding an IRS levy and additions to tax on Thursday. by usoftax_admin | Nov 30, 2023 | Tax News
Nearly $15,000 in Social Security payments received by a New York man is not tax-exempt, the U.S. Tax Court ruled Thursday.