by usoftax_admin | Oct 21, 2024 | Tax News
The U.S. Treasury Department should allow taxpayers with foreign personal holding companies to get automatic consent to revoke elections on the treatment of foreign currency gains or losses under proposed regulations to align such elections with rules on so-called... by usoftax_admin | Oct 21, 2024 | Tax News
A California medical cannabis dispensary’s arguments that the Controlled Substances Act and part of the Internal Revenue Code were unconstitutional failed to sway the U.S. Tax Court, which on Monday affirmed an IRS determination disallowing over $13.3 million in... by usoftax_admin | Oct 21, 2024 | Tax News
South Dakota voters will have the chance Nov. 5 to decide whether the state exempts food from its 4.2% sales tax rate. by usoftax_admin | Oct 21, 2024 | Tax News
A Georgia attorney has pled guilty in federal court related to helping orchestrate a $1.3 billion tax scheme involving fraudulent conservation easements, making him the 12th person convicted over the plot, including another attorney who was handed a 23-year prison... by usoftax_admin | Oct 21, 2024 | Tax News
Brian Krause of Paul Weiss Rifkind Wharton & Garrison LLP’s tax practice designed a novel tax approach for the merger of World Wrestling Entertainment and Ultimate Fighting Championship, raced to create a tax-free deal in the final days of a Texas... by usoftax_admin | Oct 21, 2024 | Tax News
Michael Bernard of Vertex says adapting to the US’s challenging tax regime relies on an understanding of what is known as the nexus principle