by usoftax_admin | Feb 3, 2025 | Tax News
A Connecticut man failed to adequately back up his argument that he was entitled to nearly $85,000 in partnership losses tied to two businesses, the U.S. Tax Court said Monday, upholding an IRS determination that also hit him with an accuracy-related penalty. by usoftax_admin | Feb 3, 2025 | Tax News
A biopharmaceutical company is not eligible for refunds of sales and use taxes for components of a diabetes drug delivery system that it developed but was never federally approved, the California Office of Tax Appeals said in a ruling released Monday. by usoftax_admin | Feb 3, 2025 | Tax News
Texas Gov. Greg Abbott urged lawmakers to again overhaul the state’s property tax regime, saying he would support legislation that would provide at least $10 billion in tax relief. by usoftax_admin | Feb 3, 2025 | Tax News
Arizona would clarify that the location of a transaction for sales tax purposes is the seller’s business location if that seller receives the order in the state under legislation approved by a House panel Monday. by usoftax_admin | Feb 3, 2025 | Tax News
The Iowa Supreme Court will not review an appellate court ruling that found two business partners were not eligible to claim a capital gains deduction for gains resulting from their individual sales of goodwill. by usoftax_admin | Feb 3, 2025 | Tax News
The U.S. Senate set the stage Monday to proceed with a vote on President Donald Trump’s pick to be the new chief of the Office of Management and Budget.