by usoftax_admin | Jul 15, 2024 | Tax News
The Fourth Circuit rejected Monday a married couple’s bid to revive a claimed $5.1 million conservation easement deduction, saying it represented a “remarkable” attempt to inflate the value of a 41-acre property that was worth just $652,000 the year... by usoftax_admin | Jul 15, 2024 | Tax News
An incarcerated former doctor asked a Michigan federal court Monday to lift its order of civil contempt for his failure to pay about $1 million in foreign account reporting penalties, saying he has done all he can to repatriate offshore securities. by usoftax_admin | Jul 15, 2024 | Tax News
Pennsylvania will expand a property tax relief program to allow longtime homeowners in Pittsburgh to claim tax breaks related to rising real estate taxes under a bill signed by Democratic Gov. Josh Shapiro. by usoftax_admin | Jul 15, 2024 | Tax News
The U.S. Supreme Court’s recent Moore v. U.S. decision, that the Internal Revenue Code Section 965 did not violate the 16th Amendment, was narrowly tailored to minimally disrupt existing tax regimes, but the justices’ various opinions leave the door open... by usoftax_admin | Jul 15, 2024 | Tax News
A logger’s widow agreed to pull about $1.7 million from her Swiss bank account to pay down penalties that her late husband’s estate owes the IRS for his failure to report offshore accounts, according to a filing Monday in a Colorado federal court. by usoftax_admin | Jul 15, 2024 | Tax News
The U.S. Treasury Department should scrap or revise significantly an anti-abuse rule for nonresident aliens who receive loans from foreign trusts, which was included in proposed regulations on how to report foreign trust transactions, the American Institute of...