by usoftax_admin | Jul 11, 2024 | Tax News
The Internal Revenue Service proposed rules Thursday that would flag so-called basket option contracts as potentially abusive listed transactions, imposing additional reporting requirements under the threat of penalty for individuals and businesses involved in such... by usoftax_admin | Jul 11, 2024 | Tax News
The U.S. Department of the Treasury violated the Administrative Procedure Act when it passed final regulations excluding low-speed vehicles from qualifying for clean vehicle tax credits, a maker of low-speed electric cars told a D.C. federal court. by usoftax_admin | Jul 11, 2024 | Tax News
The IRS is collecting on tax liabilities that were not “even in dispute,” Commissioner Danny Werfel said, but the IRS did not previously have the resources to pursue payment. by usoftax_admin | Jul 11, 2024 | Tax News
The Internal Revenue Service collected more than $1 billion from millionaires with large tax debts through an enforcement initiative against high-income, high-wealth taxpayers who hadn’t paid their tax bills, the U.S. Department of the Treasury said... by usoftax_admin | Jul 10, 2024 | Tax News
The former vice president of a Miami-based aerospace company was sentenced to just over a year in federal prison after he pled guilty to fraud-related charges in connection to a scheme that involved embezzling millions of dollars and splitting the proceeds with a... by usoftax_admin | Jul 10, 2024 | Tax News
A Chinese-born engineer has pled guilty to two counts of filing a false tax return related to allegations that he and his wife omitted gross income from their tax returns between 2015 and 2019, after Texas federal prosecutors initially charged the couple with export...