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More Facts Needed In RJ Reynolds Tax Row, Mich. Court Says

by usoftax_admin | Dec 11, 2024 | Tax News

More facts are needed on whether part of a $4.9 billion sale of trademarks by R.J. Reynolds to a Japanese company should be taxable in Michigan, a state court said Wednesday, declining to rule immediately.

Temp Agency Owner Gets Prison For $2M Tax Scheme

by usoftax_admin | Dec 11, 2024 | Tax News

A temp agency owner was sentenced to a year and a day in prison after pleading guilty in Massachusetts federal court to paying employees under-the-table wages to avoid $2.1 million in taxes.

Tax Preparers Fabricated Expenses, US Says

by usoftax_admin | Dec 11, 2024 | Tax News

Two tax preparers and their company should be barred from owning or operating tax preparation services because they fabricated business income and expenses for clients, the federal government told a Texas federal court.

Exxon Tax Ruling Doesn’t Help Liberty Global, 10th Circ. Told

by usoftax_admin | Dec 11, 2024 | Tax News

Liberty Global cannot use a recent ruling that allowed Exxon Mobil a tax deduction for interest payments to claim a deduction for dividends that arose from its intragroup shuffling of a Belgian affiliate, the U.S. government told the Tenth Circuit on Wednesday.

Minn. General Revenues In Nov. $80M Under Forecasts

by usoftax_admin | Dec 11, 2024 | Tax News

Minnesota’s total revenue collection in November trailed forecasts by $80 million, according to the state Management and Budget Office.

NJ Former Tax Auditor Can’t Be Shielded From Subpoena

by usoftax_admin | Dec 11, 2024 | Tax News

The director of the New Jersey Division of Taxation must turn over the contact information of a former auditor so that a liquor store can try to subpoena her in its sales tax case, the state tax court ruled.
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