by usoftax_admin | Sep 17, 2024 | Tax News
A Californian convicted of wire fraud and money laundering is entitled to deduct more than $367,000 in legal expenses spent to defend himself from the charges because they were related to his business, even though his business was defrauding donors, the U.S. Tax Court... by usoftax_admin | Sep 17, 2024 | Tax News
The Internal Revenue Service on Tuesday announced the appointment of 10 new members to its electronic tax administration advisory committee, including the secretary of the Wisconsin Department of Revnue and a program manager at H&R Block. by usoftax_admin | Sep 17, 2024 | Tax News
Jock McCormack of DLA Piper Australia summarises Australia’s latest proposed double tax agreement as the country’s treaty reforms gather pace, and potential changes to the non-resident capital gains tax withholding rate and threshold by usoftax_admin | Sep 17, 2024 | Tax News
Jim Chalmers’ opposite number also criticised the embattled firm, but argued that the government’s response to the tax leaks scandal had gone too far by usoftax_admin | Sep 16, 2024 | Tax News
Parties to the acquisition of an insolvent or bankrupt company face myriad tax considerations, including limitations on using the distressed company’s tax benefits, cancellation of indebtedness income, tax lien issues and potential tax reorganizations. by usoftax_admin | Sep 16, 2024 | Tax News
A film producer who sold shares in the production company he cofounded for $25 million schemed with an Australian accountant to hide the proceeds from U.S. authorities in Swiss bank accounts, causing the IRS to lose out on some $5 million, according to the DOJ.