by usoftax_admin | Nov 20, 2024 | Tax News
A U.K. property company owes tax on its intragroup purchase of a lease for a 50-story apartment tower in central London for £200 million ($253 million) despite its tax advisers’ promise of a tax-free step-up in basis, the Upper Tribunal said Wednesday. by usoftax_admin | Nov 20, 2024 | Tax News
Throughout his recent campaign, President-elect Donald Trump promised increased oil and natural gas production and reduced reliance on renewables — and his administration will likely bring more oil and gas dealmaking, faster federal permitting and attempts to roll... by usoftax_admin | Nov 20, 2024 | Tax News
The U.S. government intends to renew its request to resolve a narrow matter in a dispute with an international businessman facing an $11.6 million penalty for willful failure to report his foreign bank accounts before the case heads to trial, according to a filing in... by usoftax_admin | Nov 20, 2024 | Tax News
Eleventh Circuit judges seemed unconvinced by a couple’s request to overturn a decision that they owed taxes on $1.2 million in savings that their daughter swindled from them, saying during oral arguments Wednesday that their situation, however sympathetic, does... by usoftax_admin | Nov 20, 2024 | Tax News
The Internal Revenue Service needs to appeal to taxpayers by communicating the benefits of the funding boost the agency received under the 2022 tax and climate law, the IRS Advisory Council said in a report released Wednesday. by usoftax_admin | Nov 19, 2024 | Tax News
The Multistate Tax Commission hopes to finalize a form that certifies that marketplace facilitators will collect taxes on behalf of marketplace sellers, a commission director announced Tuesday, saying the document would assuage concerns from sellers who are reluctant...