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Suit Says NYC Property Co. Was Mismanaged, Owes Records

by usoftax_admin | Oct 11, 2023 | Tax News

A real estate investor alleged in New York state court this week that a property holding company it partnered with was mismanaged and demanded access to the business’s financial records and books, citing a requirement under a limited liability company operating...

While Risks Exist, AI Could Transform IRS Enforcement

by usoftax_admin | Oct 11, 2023 | Tax News

The Internal Revenue Service’s recently announced use of artificial intelligence could revolutionize the agency’s enforcement efforts, and transparency about its use and a forum for challenging AI findings could help mitigate fears that the technology will...

Strategic Succession Planning At Law Firms Is Crucial

by usoftax_admin | Oct 11, 2023 | Tax News

Senior partners’ reluctance to retire, the rise of the nonequity partner tier and generational differences in expectations are all contributing to an increasing number of departures from BigLaw, making it imperative for firms to encourage retirement among senior...

Ayahuasca Church Asks DC Circ. For Tax-Exempt Status

by usoftax_admin | Oct 11, 2023 | Tax News

An Iowa church that used the federally illegal psychedelic ayahuasca in its rites was wrongly denied tax-exempt status, the church told the D.C. Circuit, saying it had suspended its use of the drug and deserves to operate tax-free to build membership.

LIVE COVERAGE: Day 7 Of Trump’s NY Civil Fraud Trial

by usoftax_admin | Oct 11, 2023 | Tax News

Law360 is providing live coverage from the courthouse as former President Donald Trump goes on trial in the New York attorney general’s civil fraud case. Follow along here.

OECD Reveals Multilateral Treaty For Profit Reallocation Plan

by usoftax_admin | Oct 11, 2023 | Tax News

The Organization for Economic Cooperation and Development published the multilateral instrument required to implement the profit reallocation plan known as Amount A on Wednesday, but several outstanding issues prevent the document from being ready for signature, an...
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