by usoftax_admin | May 8, 2024 | Tax News
The proposed regulations implement Secs. 643(i), 679, 6039F, 6048, and 6677, which were added or modified to prevent efforts by U.S. taxpayers to use foreign trusts and offshore arrangements to avoid U.S. taxes. by usoftax_admin | May 8, 2024 | Tax News
Extending the provisions of the Tax Cuts and Jobs Act for 10 years under a proposal from Republicans would increase the U.S. deficit by $4.6 trillion, according to a report issued Wednesday by the Congressional Budget Office after a request from Democratic... by usoftax_admin | May 8, 2024 | Tax News
Arkansas will limit the state Department of Finance and Administration’s ability to challenge the state Tax Appeals Commission’s decisions in sales and use tax disputes as part of a bill signed by Gov. Sarah Huckabee Sanders. by usoftax_admin | May 8, 2024 | Tax News
A man owes tax penalties of $6.2 million to the U.S. after failing to disclose his ownership interests in two foreign entities from 1997 to 2004, the government told a California federal court Wednesday. by usoftax_admin | May 8, 2024 | Tax News
California Supreme Court justices sought to understand Wednesday if a measure approved for the November ballot that would make it harder to raise taxes would eliminate lawmakers’ ability to tax and would illegally revise — rather than amend — the state... by usoftax_admin | May 8, 2024 | Tax News
The Virginia tax commissioner abated most of a company’s corporate income tax assessment after finding the business was eligible to use a modified apportionment method for manufacturers.