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IRS Not Meeting Disclosure Requirements For Joint Returns

by usoftax_admin | Sep 20, 2024 | Tax News

The Internal Revenue Service did not uniformly follow joint return disclosure requirements on collection information requests, burdening taxpayers with additional delays resolving their tax matters and possibly violating their privacy rights, the Treasury Inspector...

Tribe’s Stateless Status Undoes $1.9M Construction Suit

by usoftax_admin | Sep 20, 2024 | Tax News

A Massachusetts federal judge on Thursday tossed a New York construction company’s $1.9 million lawsuit against the Mashpee Wampanoag Tribe, finding the tribe’s stateless position leaves the court with no jurisdiction to decide the case.

Taxation With Representation: Gibson Dunn, Holland & Knight

by usoftax_admin | Sep 20, 2024 | Tax News

In this week’s Taxation With Representation, CACI International buys Azure Summit Technology, Hotel Engine lands a valuation led by Permira, and Knowles Corp. sells its microphone business to Syntiant Corp.

IRS Must Credit Overpayments, Couple Tell 5th Circ.

by usoftax_admin | Sep 20, 2024 | Tax News

A couple claiming they should be allowed to sue the IRS for a roughly $500,000 tax refund in federal court because they overpaid their taxes told the Fifth Circuit that the agency is out of time to challenge their overpayments and must credit their account.

Avoid Getting Burned By Agencies’ Solar Financing Spotlight

by usoftax_admin | Sep 20, 2024 | Tax News

Recently coordinated reports and advisories from the U.S. Department of the Treasury, the Consumer Financial Protection Bureau and the Federal Trade Commission maximize the spotlight on the consumer solar financing market and highlight pitfalls for lenders to avoid in...

IRS Corrects Proposed Clean Electricity Bonus Credit Regs

by usoftax_admin | Sep 20, 2024 | Tax News

The Internal Revenue Service issued corrections Friday to proposed regulations that would broaden the types of power facilities that could be eligible for clean electricity low-income community bonus credit amounts starting in 2025.
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