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IRS Too Lax On Tax Prep Partners’ Data Practices, TIGTA Says

by usoftax_admin | Oct 2, 2024 | Tax News

The IRS isn’t doing enough to oversee the data protection practices of the tax preparation businesses in its Free File program and has never removed a partner from the program despite some having been sanctioned for unauthorized disclosures of taxpayer...

La. Ammonia Plant Will Need To Prove Exemptions At Trial

by usoftax_admin | Oct 2, 2024 | Tax News

A Louisiana ammonia plant and its contractor will need to prove at trial that their purchases of certain property qualify for a manufacturing exemption from sales and use tax, the state’s Board of Tax Appeals ruled.

Fla. Revenue Through Aug. Beats Estimates By $197M

by usoftax_admin | Oct 2, 2024 | Tax News

Florida’s general fund revenue from July through August was $197 million above budget forecasts, according to the state Office of Economic and Demographic Research.

Texas Sept. Revenue Rises 5% From Last Year

by usoftax_admin | Oct 2, 2024 | Tax News

Texas general revenue increased by more than 5% in September from the same month last year, according to a report by the state comptroller’s office.

US Seeks To Drop $1M Tax Suit Against Sleep Clinic Founder

by usoftax_admin | Oct 2, 2024 | Tax News

The U.S. government seeks to drop its case against a sleep clinic founder and his wife, whom it had accused of hiding assets, after the couple agreed to pay their tax liabilities in full, according to a filing in California federal court Wednesday.

Ohio Tax Board Boosts Parcels’ Value To Purchase Price

by usoftax_admin | Oct 2, 2024 | Tax News

Two Ohio parcels should be valued at their purchase price, a state tax board said, rejecting a local board’s finding that their value should be lower because the buyer paid a premium and demolished several structures on the properties.
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