by usoftax_admin | Dec 3, 2024 | Tax News
A sale of limited liability company interest between business partners in California can’t be used to offset cancellation of debt income stemming from a Texas apartment complex that the LLC owned, the California Office of Tax Appeals ruled. by usoftax_admin | Dec 3, 2024 | Tax News
A California taxpayer isn’t entitled to a subtraction adjustment for pension and annuities earned outside the state, because the pension money put the taxpayer in a higher bracket, the state Office of Tax Appeals said in a ruling released Tuesday. by usoftax_admin | Dec 3, 2024 | Tax News
Fried Frank Harris Shriver & Jacobson LLP announced Tuesday that a Goodwin Procter LLP tax and business law partner has joined the firm and will serve as a partner in Fried Frank’s tax department in New York. by usoftax_admin | Dec 3, 2024 | Tax News
An early Bitcoin investor dubbed “Bitcoin Jesus” asked a California federal judge Tuesday to dismiss charges that he dodged approximately $48 million in taxes by filing false tax returns and concealing how much cryptocurrency he owned, arguing that the... by usoftax_admin | Dec 3, 2024 | Tax News
Power companies should be allowed to account for an industry-specific tax deduction on repair costs to determine whether they’re subject to the corporate alternative minimum tax, utility giant Exelon said in a comment letter to the U.S. Treasury Department... by usoftax_admin | Dec 3, 2024 | Tax News
Career prosecutors at the U.S. Department of Justice often pride themselves on their ability to remain apolitical in order to ensure consistency and keep the department’s mission afloat, and the incoming Trump administration is unlikely to upend this tradition, says...