by usoftax_admin | Oct 10, 2024 | Tax News
The projected federal gross tax gap between taxes owed and taxes paid for the 2022 tax year was $696 billion, a $12 billion decrease from 2021, according to a report published Thursday by the Internal Revenue Service. by usoftax_admin | Oct 10, 2024 | Tax News
The exemption for tangible investments from the global minimum tax known as Pillar Two should include certain mobile assets, such as ships and aircraft, the National Foreign Trade Council recommended. by usoftax_admin | Oct 10, 2024 | Tax News
The Internal Revenue Service failed to justify rejecting a Florida partnership’s charitable contribution deduction for donating a $42 million conservation easement to a land conservancy, the partnership told the U.S. Tax Court. by usoftax_admin | Oct 10, 2024 | Tax News
Irish discount airline Ryanair announced plans Thursday to follow through on its threat to cut back service to Germany next summer over tax issues, saying it will cut 12% of its total capacity in the country — equal to 1.8 million seats — and close three bases of... by usoftax_admin | Oct 10, 2024 | Tax News
The Internal Revenue Service said Thursday it’s accelerating processing of claims for pandemic-era worker credits after a moratorium triggered by what the agency has said was widespread fraud. by usoftax_admin | Oct 10, 2024 | Tax News
Despite criticizing the 2017 Republican tax overhaul as a deficit-busting boon to the wealthy, congressional Democrats may feel pressure to support extending some of the law’s individual and small-business provisions or risk breaking their pledge not to raise...