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9 months into ERC claim processing moratorium, still a waiting game

by usoftax_admin | Jun 12, 2024 | Tax News

New employee retention credit (ERC) claims continue to be filed, and the IRS still has a backlog of claims from before a processing moratorium was announced in September. National Taxpayer Advocate Erin Collins says “soon” is the answer to when the moratorium will...

4 Taxpayer Advocacy Panel Committees To Meet In July

by usoftax_admin | Jun 12, 2024 | Tax News

Four Taxpayer Advocacy Panel committees will hold public meetings in July focused on improving customer service at the Internal Revenue Service, the agency announced Wednesday.

PwC Australia hiding from tax leaks scrutiny, Senate report concludes

by usoftax_admin | Jun 12, 2024 | Tax News

The report, which again demanded PwC release more information related to the scandal, “did not go far enough”, Australian Greens Senator Barbara Pocock told ITR

Tax Agencies Must Exercise Caution With AI, Experts Say

by usoftax_admin | Jun 11, 2024 | Tax News

Artificial intelligence has the potential to make tax administration more efficient and effective but must be approached with great caution to minimize significant risks including privacy, fairness and quality control, experts on the subject said Tuesday.

Precedent Favors Nationwide In Mich. Tax Fight, Judge Says

by usoftax_admin | Jun 11, 2024 | Tax News

A Michigan Court of Appeals judge said Tuesday that the state’s tax agency was asking the court to turn its back on recent precedent to hold that Nationwide entities couldn’t file as a unitary business to share insurance tax credits across their group...

SVB Wants A Trial Over Its $605M Tax Bill From IRS

by usoftax_admin | Jun 11, 2024 | Tax News

The parent company of failed Silicon Valley Bank has told a New York bankruptcy judge it wants him to decide if it owes the Internal Revenue Service more than $605 million in taxes.
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