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IRS again delays effective date of $600 threshold for Form 1099-K reporting

by usoftax_admin | Nov 26, 2024 | Tax News

The delay, the third by the IRS for Form 1099-K reporting for third-party settlement organizations, will treat 2024 and 2025 as transition years.

NY Groups, Truckers Say Congestion Pricing Unconstitutional

by usoftax_admin | Nov 26, 2024 | Tax News

A New York teachers union, and coalitions of residents and truckers have told a federal judge that Manhattan’s recently resurrected congestion pricing is still unconstitutional and discriminatory, and federal and state transportation agencies shouldn’t be...

Ukrainian Man Admits To $25M Staffing, Tax Scheme

by usoftax_admin | Nov 26, 2024 | Tax News

A Ukrainian man who was recently extradited to the U.S. to face charges that he helped illegally employ immigrants in Florida hotels pled guilty to tax crimes that prosecutors say caused $25 million in tax losses, according to Florida federal court filings.

Tax-Exempt Benefit Regs Would Give Tribes Overdue Power

by usoftax_admin | Nov 26, 2024 | Tax News

Recently proposed regulations on tribal general welfare benefits would grant tribes sole discretion to determine which programs and services are tax-exempt benefits and, if finalized, would fulfill the long-overdue purpose of a 2014 law meant to give them more...

Jones Walker Welcomes New Commercial, Tax Atty

by usoftax_admin | Nov 26, 2024 | Tax News

Jones Walker LLP has added as a tax partner an attorney who negotiates, structures and drafts complex merger and acquisition transactions, financings and related contracts and agreements, the firm said.

Tax Court Gives Education Co. 2nd Shot At Nonprofit Status

by usoftax_admin | Nov 26, 2024 | Tax News

The U.S. Tax Court dismissed Tuesday a petition from an education company seeking nonprofit status, granting a joint request from the company and the Internal Revenue Service that will give the company time to improve its application.
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