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EY fined £5.25m by UK watchdog over auditing failures

by usoftax_admin | Apr 14, 2025 | Tax News

Audit engagement partner Christopher Voogd has also been hit with a £32,500 charge over the firm’s work with Stirling Water Seafield Finance

Ala. Justices Nix Owner Property Tax Break For LLC

by usoftax_admin | Apr 11, 2025 | Tax News

An Alabama condominium was correctly reclassified for property tax purposes because the couple who own the property had transferred ownership to a limited liability company, the state Supreme Court ruled Friday.

China Hikes US Tariffs To 125%, Saying No More Tit-For-Tat

by usoftax_admin | Apr 11, 2025 | Tax News

China’s government said Friday it has raised its tariffs on U.S. goods to 125% and won’t match future tariff rate increases by President Donald Trump, who according to the White House has set the rate for most Chinese goods at 145%.

IRS Waives Penalties For Some Late Microcaptive Disclosures

by usoftax_admin | Apr 11, 2025 | Tax News

Certain participants in reportable microcaptive insurance transactions will have penalties waived in cases where they fail to file required disclosure statements due April 14, so long as they file them by July 31, the Internal Revenue Service said Friday.

Feds Seek Release Of Informant Who Falsely Accused Bidens

by usoftax_admin | Apr 11, 2025 | Tax News

California federal prosecutors are seeking the release of a former FBI informant who is serving a six-year prison sentence for falsely telling agents that former President Joe Biden and his son Hunter Biden had accepted bribes from a Ukrainian energy company.

Work To Continue On OECD Tax Plan Despite US Pullback

by usoftax_admin | Apr 11, 2025 | Tax News

Work will continue on the OECD’s international tax deal despite the U.S. saying it doesn’t apply stateside, the organization said Friday after a meeting of 135 jurisdictions that helped craft the system.
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