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Feds Take Hard Line On Tycoon’s Pilots After He Goes Free

by usoftax_admin | Jun 17, 2024 | Tax News

Manhattan federal prosecutors asked a sentencing judge to consider aggravating circumstances for two pilots who allegedly traded on stock tips from U.K. billionaire Joe Lewis, despite not seeking a prison term for the private equity honcho and former soccer club...

RI Allows Unrestricted Property Tax Rates In Providence

by usoftax_admin | Jun 17, 2024 | Tax News

Rhode Island is authorizing the city of Providence to adopt a classification system that allows unrestricted tax rates for residential, commercial, industrial and tangible personal property under bills that became law without the governor’s signature.

House Bill Seeks Tax Credit For Med Student Supervisors

by usoftax_admin | Jun 17, 2024 | Tax News

Some licensed medical professionals who supervise medical and nursing students during clinical rotations would be entitled to a $1,000 tax credit under a bipartisan bill introduced in the U.S. House.

Mich. Justice Wants Tax-Break Filing Options After Mail Fiasco

by usoftax_admin | Jun 17, 2024 | Tax News

A Michigan Supreme Court justice called on the state Legislature to give taxpayers more flexibility in claiming property tax exemptions after a company lost out on an exemption because the U.S. Postal Service never delivered its paperwork.

Ark. Bills Seek Income Tax Cuts, Homestead Credit Expansion

by usoftax_admin | Jun 17, 2024 | Tax News

Arkansas would reduce its income tax rates and increase its homestead property tax credit under bills introduced in both the state House of Representatives and Senate for a special legislative session at Republican Gov. Sarah Huckabee Sanders’ request. 

NJ Tax Court Upholds Town’s $1M Valuation Of Residence

by usoftax_admin | Jun 17, 2024 | Tax News

The New Jersey Tax Court affirmed the township of Montclair’s roughly $1 million valuation of a single-family residence, saying the homeowners failed to account for differences in other properties that they argued warranted cutting the assessment.
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