by usoftax_admin | Jan 30, 2025 | Tax News
The Internal Revenue Service would be required to simplify foreign bank account report compliance and increase civil and criminal penalties on tax professionals who deliberately harm their clients under draft legislation released Thursday by the Senate Finance... by usoftax_admin | Jan 30, 2025 | Tax News
The New York Tax Appeals Tribunal unconstitutionally denied a resident tax credit for income tax paid by a partner of a Connecticut-based asset management company, the partner told a New York state appeals court, saying her income was double-taxed by the... by usoftax_admin | Jan 30, 2025 | Tax News
Kansas would allow counties and cities to impose earnings taxes through local ballot measures with the revenue aimed at property tax relief under bills introduced in the state Senate. by usoftax_admin | Jan 30, 2025 | Tax News
Treasury’s new rules on supervisory approval of penalties are flawed and don’t apply to a couple’s suit challenging tax penalties and denied deductions related to microcaptive insurance companies they operated for a network of urgent care clinics, an... by usoftax_admin | Jan 30, 2025 | Tax News
Nations worldwide should continue implementing the international minimum tax agreement known as Pillar Two despite recent threats from the U.S. government to retaliate against what it sees as discriminatory measures imposed on U.S. companies, a group of economists... by usoftax_admin | Jan 30, 2025 | Tax News
A telecommunications company is liable for $23 million in gross receipts tax assessed on its services’ fees because the private line services it contested were not exempt, the Pennsylvania Commonwealth Court held.