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IRS Scrutiny May Underlie Move Away From NIL Collectives

by usoftax_admin | Mar 12, 2025 | Tax News

The University of Colorado’s January announcement that it was severing its partnership with a name, image and likeness collective is part of universities’ recent push to move NIL activities in-house, seemingly motivated by tax implications and increased...

Starbucks’ Sourcing Aided $1.3B Low-Tax Profits, Report Says

by usoftax_admin | Mar 12, 2025 | Tax News

Starbucks leveraged its private certification program for coffee growers to boost profits transferred almost tax-free from Switzerland to the Netherlands to the U.K., amounting to an estimated $1.3 billion between 2011 and 2021, according to a report from a...

Property Tax Can Fund Retired Cops’ Insurance, Panel Says

by usoftax_admin | Mar 12, 2025 | Tax News

A Michigan state appeals court on Tuesday said property taxes imposed by four municipalities to cover the cost of health insurance for retired firefighters and police officers are not illegal, finding a law established before a constitutional amendment barring new...

Uber Driver Couldn’t Prove Mileage Deduction, Tax Court Says

by usoftax_admin | Mar 12, 2025 | Tax News

A driver for services including Uber and DoorDash couldn’t provide any documentation of the miles he said he drove and was claiming as a tax deduction, the U.S. Tax Court said Wednesday, upholding an IRS determination that he owed roughly $5,000 in deficient...

Tariffs Prompt Chipmakers To Look At Manufacturing Moves

by usoftax_admin | Mar 12, 2025 | Tax News

The U.S. semiconductor industry is considering moving manufacturing operations to the U.S. and elsewhere as a tariff-mitigation strategy with President Donald Trump threatening to levy the sector and its supply chains, professionals told Law360.

Digital Ad Tax Bills Filed As States Watch Maryland, Pros Say

by usoftax_admin | Mar 12, 2025 | Tax News

States continue to explore taxing digital advertising services, with several filing bills or making adjustments to regulations that would permit such taxation, tax professionals said Wednesday.
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