by usoftax_admin | Jun 26, 2024 | Tax News
A Minnesota eye doctor and his wife overstated their income on their joint tax return, as they declared pay that they never actually received from their corporation in the form of unsigned checks, the U.S. Tax Court said in an opinion released Wednesday. by usoftax_admin | Jun 26, 2024 | Tax News
The Internal Revenue Service will send settlement offers next month to some taxpayers who participated in syndicated conservation easement deals that the agency is auditing, it announced Wednesday. by usoftax_admin | Jun 26, 2024 | Tax News
The window may be closing for getting final agreement on amount A. While taxpayers fear unilateral measures in the event of no success, it is likely the talks will continue until consensus is reached by usoftax_admin | Jun 26, 2024 | Tax News
Congress should authorize the Internal Revenue Service to regulate noncredentialed tax preparers to protect taxpayers and the tax system from erroneous returns, the agency’s Electronic Tax Administration Advisory Committee said in its annual report to lawmakers... by usoftax_admin | Jun 26, 2024 | Tax News
The U.S. Supreme Court’s recent decision in Connelly v. U.S. examines how to determine the fair market value of shares in a closely held company for estate tax purposes, and clarifies how life insurance held by the company to enable redemption of a decedent’s shares... by usoftax_admin | Jun 26, 2024 | Tax News
The Ninth Circuit resurrected Wednesday an IRS suit that seeks to recover more than $491,000 from a taxpayer to whom the agency erroneously mailed a refund, reversing a lower court decision that dismissed the case for falling outside the two-year statute of...