by usoftax_admin | Aug 14, 2024 | Tax News
A pipe fitting business has urged the Michigan Supreme Court to reject municipal organizations’ “histrionic” arguments that cities’ financial stability will be in jeopardy if the top court finds Detroit’s fire inspection fee is a... by usoftax_admin | Aug 14, 2024 | Tax News
A panel of Michigan appellate judges grappled Wednesday with whether two companies were entitled to account for depreciation they didn’t receive credit for under Michigan law to increase the basis of assets they sold when determining their state tax... by usoftax_admin | Aug 14, 2024 | Tax News
A $4.7 million capital gain from a stock sale by former Massachusetts residents is subject to state tax because it stemmed from a business the couple had in Massachusetts, the state Department of Revenue told a Massachusetts appeals court, urging it to uphold the... by usoftax_admin | Aug 14, 2024 | Tax News
Although the Internal Revenue Service has increased its scrutiny of complex partnership structures, which must demonstrate their economic substance and business purpose, recent cases and IRS guidance together provide a reliable road map for creating legitimate tax... by usoftax_admin | Aug 14, 2024 | Tax News
Several anti-tax initiatives in Washington state, including one to repeal the long-embattled tax on capital gains, may remain on the November ballot, the state’s highest court said, rebuffing opponents that tried to get the initiatives removed. by usoftax_admin | Aug 14, 2024 | Tax News
A U.S. Tax Court judge rejected a certified public accountant’s calculation that the IRS owed him a nearly $30,000 tax refund, repeating her opinion that the CPA was making frivolous arguments in claiming he owed no taxes on his income.