by usoftax_admin | Nov 26, 2024 | Tax News
The U.S. Tax Court dismissed Tuesday a petition from an education company seeking nonprofit status, granting a joint request from the company and the Internal Revenue Service that will give the company time to improve its application. by usoftax_admin | Nov 26, 2024 | Tax News
A federal judge granted final approval to a $10.8 million settlement between former Jackson Hewitt Inc. workers and the tax preparation firm over claims the company’s franchisees entered into an anti-competitive no-poach agreement despite the provision being... by usoftax_admin | Nov 26, 2024 | Tax News
Arizona’s one-time state tax rebates issued in 2023 should be exempt from federal taxation, three U.S. House members from the state told House leadership, urging a floor vote on legislation to exclude the income following a federal court decision finding the... by usoftax_admin | Nov 26, 2024 | Tax News
The Internal Revenue Service will push back its implementation of a law requiring peer-to-peer payment platforms such as Venmo and PayPal to report aggregate payments of $600 or more for one final time, it said Thursday, and the threshold for 2025 will instead be... by usoftax_admin | Nov 26, 2024 | Tax News
A U.S.-Saudi citizen who’s been a pilot and luxury airplane consultant settled his $1.2 million dispute with the U.S. government over bank accounts in Switzerland that the IRS said he failed to report. by usoftax_admin | Nov 26, 2024 | Tax News
Semiconductor development projects that received funding awards from the U.S. Commerce Department’s CHIPS incentives program are considered investments that can also take advantage of the advanced manufacturing tax credit, the Internal Revenue Service confirmed...