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Berkshire Unit Takes Repatriation Tax Fight To Neb. Justices

by usoftax_admin | Oct 13, 2023 | Tax News

A Berkshire Hathaway entity asked the Nebraska Supreme Court to hear its appeal of a district court’s finding that the state’s dividends received deduction doesn’t apply to income repatriated under the 2017 federal tax overhaul, according to filings...

IRS to modernize regs. for tax sales of seized property

by usoftax_admin | Oct 13, 2023 | Tax News

Proposed regulations would update existing procedures to reflect online and other electronic forms of bidding and payment.

Feds Fight Ex-Ga. Insurance Chief’s Bid To Cut Prison Term

by usoftax_admin | Oct 13, 2023 | Tax News

Federal prosecutors have urged a Georgia district judge to reject an attempt by the Peach State’s former insurance commissioner to reduce by more than a year his prison term for embezzling $2 million from a previous employer under new sentencing guidelines...

Neb. Tax Receipts Fall Short Of Forecast In September

by usoftax_admin | Oct 13, 2023 | Tax News

Nebraska’s gross tax receipts for September were 6.2% below the forecasted amount, the state Department of Revenue said Friday.

Calif. Clarifies Tax Break For Nonprofit Entities’ Property

by usoftax_admin | Oct 13, 2023 | Tax News

California clarified that property held by a nonprofit public benefit corporation that is controlled by a public housing authority is exempt from taxation under legislation signed by Democratic Gov. Gavin Newsom.

Child Tax Credit Debate Threatens Year-End Tax Package

by usoftax_admin | Oct 13, 2023 | Tax News

Federal lawmakers on both sides of the aisle are interested in making changes to the child tax credit, but negotiations over what that expansion should look like and how it should be advanced threaten to scuttle a year-end tax package.
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