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Budget, Tax Corrections Top Of Mind As Congress Returns

by usoftax_admin | Sep 8, 2023 | Tax News

As Congress returns to Washington, D.C., after the August recess, lawmakers will be working on a year-end budget bill that could include tax incentives for research and development and working families, as well as technical corrections to last year’s retirement...

Group Urges Justices To Find IRS Missed $36M Loss Deadline

by usoftax_admin | Sep 8, 2023 | Tax News

The Ninth Circuit wrongly allowed the IRS extra time to nix a partnership’s $35.5 million tax loss by claiming the partnership never properly filed its delinquent tax return at a service center, a taxpayer rights group told the U.S. Supreme Court on...

Tenn. Appeals Court Nixes Denial Of Machinery Tax Exemption

by usoftax_admin | Sep 8, 2023 | Tax News

A Tennessee administrative law judge’s decision to sustain the revocation of certain tax exemptions to a linen supply company was improper, the state Court of Appeals ruled.

Mo. Floats Regs To Explain Application Of Local Sales Tax

by usoftax_admin | Sep 8, 2023 | Tax News

Missouri would clarify that local sales tax on intrastate sales should be imposed at the local tax rate of the location from where the merchandise was shipped under regulatory amendments proposed by the state Department of Revenue.

IRS vows new enforcement efforts aided by AI

by usoftax_admin | Sep 8, 2023 | Tax News

Commissioner Danny Werfel describes an IRS that focuses on the wealthy and uses artificial intelligence to find discrepancies in large partnership filings.

Wis. Assembly Bill Would Exempt Baby Supplies From Tax

by usoftax_admin | Sep 8, 2023 | Tax News

Wisconsin would create a sales and use tax exemption for items such as cribs, safety monitors and baby safety gates as part of a bill introduced in the state Assembly.
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