by usoftax_admin | Oct 2, 2023 | Tax News
Hyatt Hotels Corp. must report nearly $300 million in revenue from a rewards program fund, the U.S. Tax Court ruled Monday, saying the hospitality giant had essentially ignored the account for federal tax purposes by failing to report revenue or deduct expenses for... by usoftax_admin | Oct 2, 2023 | Tax News
A Swiss commodities trading company can’t force an Austrian diesel supplier to reimburse it €12 million ($12.6 million) in Dutch value-added taxes on a diesel shipment, the supplier told a court, arguing the true buyer lowers the rate to zero. by usoftax_admin | Oct 2, 2023 | Tax News
The Fifth Circuit’s recent Malik v. Department of Homeland Security decision adds to the chorus of federal courts holding that border agents don’t need a warrant to search travelers’ electronic devices, so attorneys should consider certain special precautions to... by usoftax_admin | Oct 2, 2023 | Tax News
Japan’s tax authority received a decade-high 246 requests for mutual agreement procedures in 2021, according to an annual report. by usoftax_admin | Oct 2, 2023 | Tax News
Since the U.S. Supreme Court’s February decision in Bittner v. U.S. changed how penalties for failure to report offshore accounts are calculated, recent developments suggest the government is preparing to step up enforcement and vigorously pursue the collection of... by usoftax_admin | Oct 2, 2023 | Tax News
“Rush Hour” star Chris Tucker agreed to pay the IRS over $3.5 million to settle a lawsuit that claimed he had owed nearly $9.7 million in taxes dating back to 2002, the U.S. government told a Nevada federal court Monday.