by usoftax_admin | Mar 3, 2025 | Tax News
Leaders of nonprofits providing healthcare, housing and other critical services for low-income Americans warned Monday that the mix of White House funding cuts and executive orders could force them to close and even jeopardize their tax-exempt status. by usoftax_admin | Mar 3, 2025 | Tax News
A doctor’s divorce payments to his ex-wife relating to $3.5 million he agreed to pay her for their home do not qualify as tax-deductible alimony because the couple’s divorce agreement did not describe them as alimony, the Eleventh Circuit ruled Monday,... by usoftax_admin | Mar 3, 2025 | Tax News
The U.S. Treasury Department should revoke final anti-abuse regulations that require the disclosure of partnerships structured to adjust a partner’s basis, a CPA group said Monday, calling the rules so broad that they end up covering standard tax... by usoftax_admin | Mar 3, 2025 | Tax News
Two Internal Revenue Service agents who accused the U.S. Department of Justice of mishandling an investigation into former President Joe Biden’s son Hunter Biden faced retaliation, they said in a complaint filed Monday with the Merit Systems Protection... by usoftax_admin | Mar 3, 2025 | Tax News
A Drexel University accounting professor convicted on tax evasion charges for failing to report $3.3 million in income from a Trenton, New Jersey, pharmacy was sentenced to two years in federal prison on Monday, according to acting U.S. Attorney Vikas Khanna. by usoftax_admin | Mar 3, 2025 | Tax News
A Florida federal court should order a tax preparer to pay more than $1.6 million in penalties and interest because he intentionally failed to report his accounts at a pair of Indian banks, the U.S. said.