by usoftax_admin | Dec 16, 2024 | Tax News
A New York state appeals court ruling from earlier this year that upheld a sales tax assessment on usage agreements for laser medical equipment created a presumption of taxability for bundled transactions that is difficult for businesses to overcome, practitioners... by usoftax_admin | Dec 16, 2024 | Tax News
An Illinois couple must recalculate the more than $36 million in net operating loss carryforward deductions they claimed in 2008 and 2009, the U.S. Tax Court said Monday, siding with the Internal Revenue Service’s determination that they had improperly included... by usoftax_admin | Dec 16, 2024 | Tax News
Virginia would exempt income from tips from state income tax as part of a budget proposal from Republican Gov. Glenn Youngkin, the governor’s office announced Monday. by usoftax_admin | Dec 16, 2024 | Tax News
The U.S. Tax Court erred in drastically reducing a partnership’s claimed $23 million deduction for donating a conservation easement in Georgia, the partnership told the Eleventh Circuit, saying the court improperly relied on a real estate expert’s opinion... by usoftax_admin | Dec 16, 2024 | Tax News
A Texas federal judge doesn’t need to stay his preliminary injunction on the rollout of new corporate transparency rules while the U.S. government’s appeal to his decision is pending at the Fifth Circuit, a business lobbying group and others said... by usoftax_admin | Dec 16, 2024 | Tax News
The IRS announces expansion of online accounts, including the tax pro account, as part of the quarterly update to its strategic operating plan.