by usoftax_admin | Oct 18, 2023 | Tax News
A revision of a demand letter correcting penalties and late fees owed for not reporting a foreign bank account does not nullify the date for calculating interest, the U.S. government told the Ninth Circuit in a bid to apply interest to a $238,000 penalty. by usoftax_admin | Oct 18, 2023 | Tax News
The IRS said the increase in the projected tax gap is due to growth projected increases in nonfiling and underreporting of individual income tax, along with underreporting of self-employment tax. by usoftax_admin | Oct 18, 2023 | Tax News
The Internal Revenue Service is expected to announce Thursday a process that will allow employers to withdraw unprocessed and unpaid employee retention credit claims, an agency official said Wednesday. by usoftax_admin | Oct 18, 2023 | Tax News
An Iowa church that used the federally illegal psychedelic ayahuasca in its rites was wrongly denied tax-exempt status, a pair of pro-psychedelics organizations told the D.C. Circuit, saying the denial denigrated the church’s religious beliefs and flouted its... by usoftax_admin | Oct 18, 2023 | Tax News
Massachusetts would allow local option real estate transfer taxes as part of a $4 billion package announced Wednesday by Democratic Gov. Maura Healey to tackle the state’s affordable housing crisis. by usoftax_admin | Oct 18, 2023 | Tax News
The Oklahoma Supreme Court is set to hear a challenge by Gov. Kevin Stitt to the state’s Legislature over two veto overrides on tribal tobacco and motor vehicle compacts, the latest in a series of disputes involving the state’s top lawmakers over who has...