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Gentiloni Pushes Head Office Tax Policy To Cut Biz Costs

by usoftax_admin | Nov 28, 2023 | Tax News

A head office taxation policy would lower tax compliance costs for small and medium-sized enterprises, European Union tax commissioner Paolo Gentiloni said Tuesday at a conference in Brussels.

Co.’s Net Earnings Include Partner Shares, Tax Court Says

by usoftax_admin | Nov 28, 2023 | Tax News

An investment company’s net earnings from self-employment should include distributive shares of partnership income, the U.S. Tax Court ruled Tuesday, saying that the recipients of such shares are not limited partners exempt from the rules.

3rd Circ. Won’t Rethink Reviving Couple’s Late-Filed Tax Suit

by usoftax_admin | Nov 28, 2023 | Tax News

The Third Circuit declined Tuesday to reconsider its decision that a couple’s failure to comply with a 90-day deadline for filing a petition with the U.S. Tax Court wasn’t fatal to their case.

Timing May Be Tight For OECD’s Crypto Reporting Framework

by usoftax_admin | Nov 28, 2023 | Tax News

The 48 jurisdictions including the U.S. that intend to implement the OECD’s cryptocurrency information exchange framework by 2027 will have to work quickly to meet that deadline given the time needed to enact domestic legislation and regulations to put the...

Divorced Couple Liable For Tax On Settlement, Tax Court Says

by usoftax_admin | Nov 28, 2023 | Tax News

A divorced California couple is liable to pay personal income taxes on the proceeds of a $700,000 settlement because it was not made on account of injury or illness, the U.S. Tax Court ruled Tuesday.

CJEU rules Portuguese stamp tax on market placement fees contradicts directive

by usoftax_admin | Nov 28, 2023 | Tax News

Recent decisions on market placement fees for investment fund units and debentures open the door for taxpayers to seek the recovery of stamp tax, say Susana Estêvão Gonçalves and Nicolle Barbetti of Cuatrecasas
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