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IRS Needs To ID Dangerous Taxpayers Faster, TIGTA Says

by usoftax_admin | Sep 7, 2023 | Tax News

The Internal Revenue Service’s process of identifying taxpayers as potentially dangerous must become more timely, the Treasury Inspector General for Tax Administration said Thursday.

EY calls for certainty on amount B

by usoftax_admin | Sep 7, 2023 | Tax News

Certainty and preventing double taxation are priorities for EY when it comes to the OECD’s pillar one proposal.

Hunter Biden Could Face New Indictment By Month’s End

by usoftax_admin | Sep 6, 2023 | Tax News

President Joe Biden’s son Hunter Biden may face a grand jury indictment in a gun case by the end of the month, the special counsel in his federal investigation told a Delaware federal court Wednesday.

Justices Can Narrowly Nix Repatriation Tax, US Chamber Says

by usoftax_admin | Sep 6, 2023 | Tax News

The U.S. Supreme Court should find the one-time repatriation tax passed as part of the 2017 Tax Cuts and Jobs Act unconstitutional without upending other parts of the federal tax code, the U.S. Chamber of Commerce said in a brief filed Wednesday.

6th Circ. Rejects Challenge To Tax Delinquency Takings

by usoftax_admin | Sep 6, 2023 | Tax News

A Michigan property owner whose outstanding $1,100 property tax bill triggered the local government to foreclose on his house and wrongly pocket the sale’s surplus may recover only the auction proceeds, not the fair market value of his home, the Sixth Circuit...

Treasury May See Limits In Getting Foreign Digital Asset Info

by usoftax_admin | Sep 6, 2023 | Tax News

The U.S. Treasury Department may face practical hurdles in enforcing its proposed digital asset reporting rules against foreign trading platforms, but joining the OECD’s cross-border information exchange system — which could help Treasury obtain offshore data —...
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