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Mass. Tax Board Axes Home’s Value Based On Similar Sales

by usoftax_admin | May 9, 2024 | Tax News

A Massachusetts home was overvalued, the state Appellate Tax Board ruled, finding evidence of comparable sales presented by the homeowner to be persuasive.

IRS Details Process For Suspending Tax Pro File Numbers

by usoftax_admin | May 9, 2024 | Tax News

The IRS described a process Thursday for suspending authorization file numbers assigned to tax professionals pending further review because of possible identity theft or other fraud and said in a statement that the risks potentially compromised numbers pose for tax...

Dr. Must Stay In Jail Until Assets Repatriated, Court Says

by usoftax_admin | May 9, 2024 | Tax News

A Michigan doctor fighting accusations that he failed to report his foreign bank accounts will stay in jail, as a federal court declined to release him Thursday when he didn’t comply with an order to deposit over $1 million to cover the judgment against...

Tax Interest Rates To Stay Same In 3rd Quarter

by usoftax_admin | May 9, 2024 | Tax News

The Internal Revenue Service’s interest rates for overpayments and underpayments of tax won’t change in the third quarter of 2024, the agency said Thursday.

Ala. To Give Employers Tax Credit For Offering Child Care

by usoftax_admin | May 9, 2024 | Tax News

Alabama employers that offer a child care facility for their employees will be able to claim an income tax credit up to $600,000 per year under a bill enacted by the governor Thursday.

Ore. Tax Court Drops Valuation Of Mobile Home Park

by usoftax_admin | May 9, 2024 | Tax News

An Oregon mobile home park should be reduced in value from $2.3 million to $1.7 million because an income analysis presented by the owners reflected the property’s real market value better than a local assessor’s method, the state’s tax court...
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