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Biden To Seek Tax Hikes On Wealthy In 2025, Adviser Says

by usoftax_admin | May 10, 2024 | Tax News

One of President Joe Biden’s key tax policy goals if he’s still in office during negotiations over expiring Tax Cuts and Jobs Act provisions in 2025 is to increase revenue overall by raising taxes on corporations and wealthy taxpayers, National Economic...

Ore. Court Drops Tax Value Of Rural Property

by usoftax_admin | May 10, 2024 | Tax News

The Oregon Tax Court lowered the real market valuation of a rural property with outbuildings used for storage of a car collection, relying partially on the owner’s cost approach to the value.

Austria Eyes Fines For Fake Invoices Used In Tax Fraud

by usoftax_admin | May 10, 2024 | Tax News

People creating false invoices in Austria could face fines of up to €100,000 ($108,000) as the country looks to crack down on tax fraud involving fictitious businesses, the country’s Ministry of Finance said Friday.

Miss. To Lower Sales Tax Rate For Oil Cos.’ Purchases

by usoftax_admin | May 10, 2024 | Tax News

Mississippi will reduce the sales tax rate for equipment and services used to drill, survey or explore for oil, natural gas and other minerals to 4.5% as part of a bill signed by the governor.

Colo. Lawmakers OK Quantum Tech Investment Tax Credits

by usoftax_admin | May 10, 2024 | Tax News

Colorado would create a pair of tax credits to promote investment in quantum technology development facilities by entities receiving certain federal grants under legislation passed by the state Senate and heading to the governor.

DC Tax Atty. Can’t Use Ch. 7 To Ditch Depo In $19M Theft Suit

by usoftax_admin | May 10, 2024 | Tax News

A corporate D.C. tax attorney accused of bilking a former client out of $19 million via a captive insurance scam will be deposed, despite a stay in the Maryland federal case against him and his firm after both filed for bankruptcy.
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