by usoftax_admin | Mar 10, 2025 | Tax News
A couple who said they donated thousands of personal clothing items and supplies to a New York church are not entitled to a $285,000 tax deduction for charity because the two did not have the items correctly appraised, the Tax Court said Monday. by usoftax_admin | Mar 10, 2025 | Tax News
The estate of a man who failed to report his Swiss bank accounts is liable for tax penalties of at least $2 million, an Idaho federal court determined, finding the man’s widow off the hook. by usoftax_admin | Mar 10, 2025 | Tax News
Norton Rose Fulbright announced Monday that it has bulked up in the face of increased demand in the corporate transactions space with the return of a tax partner in Houston who came aboard from Reed Smith LLP. by usoftax_admin | Mar 10, 2025 | Tax News
A Utah couple who claimed they would not make a “gift” to the U.S. Treasury Department by paying their taxes owe about $21,000 to the IRS, plus penalties, the U.S. Tax Court ruled Monday, warning them against making frivolous arguments. by usoftax_admin | Mar 10, 2025 | Tax News
Hyatt told the Seventh Circuit it shouldn’t have to report nearly $300 million in revenue from a rewards program fund owned by individual hotel owners, saying the U.S. Tax Court wrongly sided with the IRS in deciding the company should treat the money as its... by usoftax_admin | Mar 9, 2025 | Tax News
The Internal Revenue Service would continue to be blocked from accessing more than $20 billion in Inflation Reduction Act funding under legislation that the House is expected to consider this week, a measure that overall would keep the government running past March...