by usoftax_admin | Jul 2, 2024 | Tax News
In the first half of the year, the U.S. Supreme Court torpedoed the Chevron doctrine of judicial deference to federal agencies and affirmed the denial of a tax refund to a business owner’s estate related to a life insurance payout, while the U.S. Tax Court... by usoftax_admin | Jul 1, 2024 | Tax News
A special litigation committee that GoDaddy Inc. created in September 2023 in response to shareholder litigation over an $850 million tax asset buyout has 30 days to convince a Delaware Chancery Court judge that it is conducting a good-faith investigation and... by usoftax_admin | Jul 1, 2024 | Tax News
The Internal Revenue Service will likely face more pressure to develop tax regulations that are more firmly grounded in the law and tailored to ensure certainty for individuals, businesses and other organizations after the U.S. Supreme Court’s landmark decision... by usoftax_admin | Jul 1, 2024 | Tax News
The final regulations require custodial brokers to report transactions on Form 1099-DA, which the IRS will release soon. A different set of final regulations with rules for decentralized, or noncustodial, brokers will be issued later. by usoftax_admin | Jul 1, 2024 | Tax News
Two Internal Revenue Service whistleblowers who Hunter Biden said wrongfully disclosed his confidential tax information should not be allowed to intervene in his suit against the U.S. government, the government told a D.C. federal court Monday. by usoftax_admin | Jul 1, 2024 | Tax News
Illinois will impose an occupation tax on people who re-rent hotel rooms in the state as part of recently enacted omnibus legislation, the state Department of Revenue said.