by usoftax_admin | Oct 3, 2024 | Tax News
Roughly 2.8 million taxpayers in 2021 received early retirement distributions totaling $12.9 billion but did not pay the additional 10% tax or file for an exception, the Treasury Inspector General for Tax Administration said Thursday. by usoftax_admin | Oct 3, 2024 | Tax News
A tax tipster’s bankruptcy filing doesn’t pause his U.S. Tax Court case challenging the Internal Revenue Service’s denial of his request for a whistleblower award, the Tax Court ruled Thursday, saying the award case doesn’t concern his tax... by usoftax_admin | Oct 3, 2024 | Tax News
The Internal Revenue Service will expand its free online tax-filing program to accommodate more types of income, credits and deductions in 2025, Commissioner Daniel Werfel said Thursday. by usoftax_admin | Oct 3, 2024 | Tax News
Multinational conglomerate 3M said Thursday that the U.S. Supreme Court’s striking down of Chevron deference dictates that the Eighth Circuit overturn a U.S. Tax Court decision that supported the IRS’ reallocation of $24 million from the company’s... by usoftax_admin | Oct 3, 2024 | Tax News
The IRS has used $2 billion of the funding boost it received under the Inflation Reduction Act to supplement its annual funding, according to the Treasury Inspector General for Tax Administration. by usoftax_admin | Oct 3, 2024 | Tax News
An Indiana-based food truck owes $240,000 in unpaid sales tax and food and beverage tax over the past 11 years, the Department of State Revenue said.