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Pros Tell IRS To Ease Off Foreign Gift Reporting Penalties

by usoftax_admin | Aug 21, 2024 | Tax News

The Internal Revenue Service should take a more lenient approach when considering penalty abatements for certain individuals who fail to report large foreign gifts under proposed disclosure regulations, practitioners told the agency Wednesday.

Law Firms Should Move From Reactive To Proactive Marketing

by usoftax_admin | Aug 21, 2024 | Tax News

Most law firm marketing and business development teams operate in silos, leading to an ad hoc, reactive approach, but shifting to a culture of proactive planning — beginning with comprehensive campaigns — can help firms effectively execute their broader business...

Tax Biz Owner Says Any Errant Returns Were Honest Mistakes

by usoftax_admin | Aug 21, 2024 | Tax News

The owner of a Miami tax preparation business rejected the government’s claim that she deliberately falsified client returns, telling a Florida federal court that she relied in good faith on the information provided to her by her customers.

IRS Issues Corrections For Credit Transfer Rules

by usoftax_admin | Aug 21, 2024 | Tax News

The Internal Revenue Service issued corrections Wednesday to final regulations concerning the election under the Inflation Reduction Act of 2022 to transfer certain tax credits.

Senator blasts PwC Global figures over scandal obstruction

by usoftax_admin | Aug 21, 2024 | Tax News

Australian senator Deborah O’Neill took aim at prominent international PwC figures, including chairman Bob Moritz, over a perceived cover-up of the firm’s tax leaks scandal

Italian tax reform paves way to cross-border relief for tax losses

by usoftax_admin | Aug 21, 2024 | Tax News

Paolo Ludovici and Daniel Canola of Gatti Pavesi Bianchi Ludovici highlight some noteworthy aspects of the envisaged introduction of a cross-border relief for tax losses in Italy, fostered by the CJEU’s case law
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