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IRS Nix Of $45M Easement Deduction Invalid, Donor Says

by usoftax_admin | Jun 12, 2024 | Tax News

A North Carolina partnership asked the U.S. Tax Court to invalidate an Internal Revenue Service adjustment that slashed its $45.6 million deduction for its donation of a conservation easement, saying the agency failed to follow proper administrative procedures.

Treasury Issued Over $1B In Clean Vehicle Tax Credits

by usoftax_admin | Jun 12, 2024 | Tax News

The clean vehicle tax credit of up to $7,500 has saved buyers more than $1 billion in total upfront costs since January, the U.S. Treasury Department announced Wednesday, saying the figures represent a major milestone in lowering transportation costs since the...

Litigation Inspiration: Attys Can Be Heroic Like Olympians

by usoftax_admin | Jun 12, 2024 | Tax News

Although litigation won’t earn anyone an Olympic medal in Paris this summer, it can be worthy of the same lasting honor if attorneys exercise focused restraint — seeking both their clients’ interests and those of the court — instead of merely pursuing every advantage...

First ‘Survivor’ Winner Wants $3M Tax Case Tossed

by usoftax_admin | Jun 12, 2024 | Tax News

The winner of the first season of the TV series “Survivor” asked a Rhode Island federal court to toss the government’s case against him seeking nearly $3.3 million in unpaid taxes, saying the liabilities stem from his flawed criminal conviction for...

EY UK chair Hywel Ball to step down

by usoftax_admin | Jun 12, 2024 | Tax News

The 61-year-old has run the firm’s UK business since 2020

Implementation of pillar two transitional safe harbours in Italy

by usoftax_admin | Jun 12, 2024 | Tax News

Federico Vincenti and Carola Valente of Valente Associati GEB Partners/Crowe Valente provide a guide to Italy’s transitional country-by-country reporting safe harbours for groups within the scope of the pillar two global minimum tax requirements
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