by usoftax_admin | Sep 18, 2023 | Tax News
The Internal Revenue Service is planning to reduce its audits for refundable tax credits, including the earned income tax credit, as a part of efforts to rebalance the agency’s enforcement activities, IRS Commissioner Daniel Werfel said Monday. by usoftax_admin | Sep 18, 2023 | Tax News
An Ohio woman is entitled to a refund of nearly $120,000 after the U.S. Tax Court ruled Monday that because she was granted spousal relief, she retroactively overpaid the Internal Revenue Service to satisfy an income tax debt. by usoftax_admin | Sep 18, 2023 | Tax News
Brown Rudnick LLP has named a Davis Polk & Wardwell LLP counsel as a partner in its tax practice group. by usoftax_admin | Sep 18, 2023 | Tax News
A couple who loaned money for real estate investments to a friend later convicted of bank fraud cannot claim the loan amounts as theft losses triggering tax refunds, a South Carolina federal judge decided Monday. by usoftax_admin | Sep 18, 2023 | Tax News
Foreign companies that register in U.S. states after Jan. 1 may need to report beneficial ownership information to comply with the Corporate Transparency Act, according to guidance for small businesses issued Monday by the Financial Crimes Enforcement Network. by usoftax_admin | Sep 18, 2023 | Tax News
The ex-chief financial officer of a Russian gas company who was convicted of failing to report foreign bank accounts should spend 10 years in prison, prosecutors told a Florida federal judge, saying the former executive was unrepentant, even after bilking the...