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‘We will look dimly on inappropriate dob-ins’: TPB chairman

by usoftax_admin | Jun 24, 2024 | Tax News

Australian advisers should tread carefully when using new reporting obligations to complain about peers, Tax Practitioners’ Board chairman Peter de Cure tells ITR in an exclusive interview

Justices To Review If Ch. 7 Trustee Can Recover Tax Payments

by usoftax_admin | Jun 24, 2024 | Tax News

The U.S. Supreme Court on Monday said it would review a Tenth Circuit decision that found that the Chapter 7 bankruptcy trustee of a defunct Utah company could recover $145,000 in tax payments from the IRS.

UK Tax Fraud Cases Rose 49% Over One-Year Period

by usoftax_admin | Jun 23, 2024 | Tax News

The U.K. tax authority launched more criminal cases for tax fraud for the year ended June 30, 2023, increasing 49% from 63 cases for the previous year to 94, Pinsent Masons LLP said Monday.

Supreme Court Leaves Lifeline For Billionaire Income Tax

by usoftax_admin | Jun 21, 2024 | Tax News

The U.S. Supreme Court narrowed but did not entirely block the path to billionaire income tax legislation when the majority’s opinion declined to weigh constitutional questions about taxing unrealized gains in its decision to uphold a mandatory repatriation...

Fed. Circ. Backs Subsidy Duties For Canadian Wind Towers

by usoftax_admin | Jun 21, 2024 | Tax News

A Canadian wind tower manufacturer can’t get a break on countervailing duties despite being upfront about errors in its sales data, with the Federal Circuit ruling Friday that the errors raise the possibility of additional mistakes.

Exceptions to penalty on early retirement plan distributions outlined

by usoftax_admin | Jun 21, 2024 | Tax News

The IRS issued guidance for exceptions for emergency personal expense distributions and for domestic abuse victim distributions.
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