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Couple Still On The Hook For $750K, Tax Court Says

by usoftax_admin | Nov 21, 2023 | Tax News

A couple are subject to nearly $750,000 in income tax liabilities after the U.S. Tax Court denied most — but not all — of their claimed deductions Tuesday.

Energy Bonus Credits’ Labor Rules Set Bar Too High, IRS Told

by usoftax_admin | Nov 21, 2023 | Tax News

Complying with proposed IRS labor rules that are critical in claiming the 2022 climate law’s bonus tax credits will be challenging for project owners, stakeholders told the agency Tuesday, citing hurdles such as daunting record-keeping requirements and unclear...

Mining Co. Says It Will Challenge IRS Plan To Tax Award

by usoftax_admin | Nov 21, 2023 | Tax News

A mining company that Venezuela agreed to pay nearly $770 million for a canceled project said it plans to challenge what it called an IRS proposal to tax the company’s future award amounts and disallow worthless stock deductions it took related to the...

Wash. Capital Gains Tax Foes Ask Supreme Court To Void Tax

by usoftax_admin | Nov 21, 2023 | Tax News

Washington state’s tax on capital gains is an unconstitutional excise tax that exceeds federal limits on state authority, a group opposed to the measure told the U.S. Supreme Court on Tuesday.

Vanguard Officers Must Face Investors’ Tax Liability Suit

by usoftax_admin | Nov 21, 2023 | Tax News

Investors claiming Vanguard grossly violated its fiduciary duties by triggering a huge sell-off of assets in target retirement funds, leaving the investors with massive tax burdens, can move forward with their claims against the company’s officers but not the...

Hogan Lovells hires four tax specialists from collapsing US firm

by usoftax_admin | Nov 21, 2023 | Tax News

With a total of 32 new appointments, Hogan Lovells has capitalised on Stroock’s demise
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