by usoftax_admin | Sep 26, 2024 | Tax News
Higher tariffs can’t replace income tax revenue, as former President Donald Trump has suggested, since U.S. imports total $3 trillion annually while incomes top $20 trillion, but they would lower incomes by raising prices for U.S. consumers, a think tank... by usoftax_admin | Sep 26, 2024 | Tax News
A New Jersey attorney charged in the state’s sweeping indictment against power broker George E. Norcross III accused the Attorney General’s Office on Thursday of “attempting to criminalize the routine practice of law” with its charges against... by usoftax_admin | Sep 26, 2024 | Tax News
A penalty assessed to an Indiana beverage company for a late corporate income tax filing will be abated, as the delay wasn’t due to willful neglect, the Department of State Revenue said in a letter of finding. by usoftax_admin | Sep 26, 2024 | Tax News
The estate of a woman who inherited an oil company must include in its value over $6 million more to account for her relationship with a limited partnership formed by her great-nephew, the U.S. Tax Court ruled Thursday. by usoftax_admin | Sep 26, 2024 | Tax News
The U.S. federal deficit would grow by at least $2 trillion over the next decade from the tax policy plans of both major parties’ candidates, former President Donald Trump and Vice President Kamala Harris, researchers said Thursday. by usoftax_admin | Sep 26, 2024 | Tax News
An Indiana couple was wrongly denied an income tax credit for local income tax paid by one spouse while working in Kentucky, but the couple will continue to owe additional tax, the Indiana Department of State Revenue said in a letter of finding.