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AICPA urges IRS to meet needs of taxpayers, preparers during filing season

by usoftax_admin | Feb 16, 2025 | Tax News

“Americans deserve a fully functioning agency that can be respected by taxpayers and their preparers,” a statement by AICPA CEO Mark Koziel said Sunday as IRS officials plan for cuts in federal workforce.

Maine Judge Denies Challenge To Corporate Transparency Act

by usoftax_admin | Feb 16, 2025 | Tax News

A Maine federal judge on Friday upheld the Corporate Transparency Act, rejecting one of several challenges across federal courts claiming Congress lacked the power to require companies to disclose their real owners.

DOJ Defends IRS Offset Actions In Supreme Court Tax Case

by usoftax_admin | Feb 14, 2025 | Tax News

The U.S. Tax Court was right to dismiss a woman’s collection due process lawsuit over a 2010 tax debt after the Internal Revenue Service removed the disputed liability using her overpayments from later years, the federal government told the Supreme Court on...

Corporate Transparency Act Vital For Nat’l Security, Circs. Told

by usoftax_admin | Feb 14, 2025 | Tax News

A nationwide registry of beneficial ownership information is critical to U.S. foreign policy and national security goals, which makes a law aimed at creating one, the Corporate Transparency Act, a valid exercise of congressional authority, groups told the Fourth and...

8 Things Attys Should Know About Conn.’s $55B Budget

by usoftax_admin | Feb 14, 2025 | Tax News

Connecticut Gov. Ned Lamont’s two-year budget for the years 2026 and 2027 includes drug price limits, an expansion of the state’s unfair trade practices act, key changes to hospital ownership laws and slots for 13 new judges.

State Lawmakers Eye Tighter Restrictions On Hemp Products

by usoftax_admin | Feb 14, 2025 | Tax News

Legislators in multiple states have introduced legislation aimed at regulating or restricting the manufacture and sale of products containing intoxicating cannabinoids derived or synthesized from federally lawful hemp.
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