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IRS Issues Electricity Credit Reference Price For Wind

by usoftax_admin | Jul 10, 2024 | Tax News

The Internal Revenue Service released a 2024 reference price for determining the availability of the renewable electricity production credit for wind energy facilities in a notice issued Wednesday.

Fla. Net Revenue Through May Beats Estimates By $1B

by usoftax_admin | Jul 10, 2024 | Tax News

Florida’s net revenue collection from July 2023 through May was $1.06 billion higher than estimates, according to the state Office of Economic and Demographic Research.

Calif. Ends Fiscal Year With Revenue $3B Over Estimates

by usoftax_admin | Jul 10, 2024 | Tax News

California’s general fund revenue in the 2024 fiscal year was $3 billion higher than estimated, the California state controller said Wednesday.

House Dems Seek IRS Review Of Groups’ Church Status

by usoftax_admin | Jul 10, 2024 | Tax News

A group of House Democratic lawmakers asked the Internal Revenue Service to review the tax exemptions of conservative advocacy groups that they contend have improperly received tax-exempt status as churches, according to a letter released Wednesday.

5th Circ. Told ‘Pay To Litigate’ Rule Doesn’t Bar Refund Suit

by usoftax_admin | Jul 10, 2024 | Tax News

A couple arguing the IRS failed to apply their tax overpayments to deficiencies claimed by the agency asked the Fifth Circuit to reverse a lower court’s dismissal of their suit on the grounds that they hadn’t paid their bill, saying the decision...

Navigating tax compliance challenges for UK non-resident directors

by usoftax_admin | Jul 10, 2024 | Tax News

With HMRC’s renewed enforcement focus, it’s as important as ever for UK companies to get their NRD compliance affairs in order, writes Lewin Higgins-Green of FTI Consulting
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