by usoftax_admin | Sep 11, 2023 | Tax News
Traders of digital assets such as cryptocurrencies should be treated similarly to commodities dealers and allowed to elect to use the mark-to-market accounting method, the American Bar Association Section of Taxation told Senate tax writers. by usoftax_admin | Sep 11, 2023 | Tax News
A New York couple is liable for more than $10,000 in accuracy-related penalties after failing to assign error to a prior determination, the U.S. Tax Court ruled Monday. by usoftax_admin | Sep 11, 2023 | Tax News
The IRS can proceed with its plan to collect $2 million in taxes owed by rapper Tyga for 2019 by billing him more than $87,000 per month, the U.S. Tax Court ruled Monday, saying the agency correctly rejected his proposals to pay less. by usoftax_admin | Sep 11, 2023 | Tax News
The Tenth Circuit declined Monday to reconsider its decision upholding the disallowance of a $9.1 million tax deduction for stock exchange operator Bats Global Markets, effectively rejecting the operator’s argument that the court wrongly deemed excluded evidence... by usoftax_admin | Sep 11, 2023 | Tax News
Critics of an IRS proposal that would allow agents to communicate tax penalties to taxpayers earlier in the supervisory approval process said at a public hearing Monday that the new rules would erode taxpayer protections established by Congress 25 years ago. by usoftax_admin | Sep 11, 2023 | Tax News
As the House prepares to come back into session on Tuesday, the top Democrat on the House oversight committee blasted Republicans for their “mischaracterized [and] cherry-picked” investigations into the president.