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Colo. House OKs Tax Credits For Gifts Through Intermediaries

by usoftax_admin | May 7, 2024 | Tax News

Colorado would allow income tax credits for charitable gifts made through certain intermediaries instead of directly to qualifying organizations under legislation approved Tuesday by the state House of Representatives.

6th Circ. Considers Rebooting Crypto Reporting Challenge

by usoftax_admin | May 7, 2024 | Tax News

Sixth Circuit judges seemed unsure of whether a group of cryptocurrency users can challenge a pending mandate to report large crypto transactions, as the judges grappled Tuesday with whether the plaintiffs have shown they are harmed by the forthcoming rule and whether...

Calif. OTA Backs Excluding Dealership Sale From Sales Factor

by usoftax_admin | May 7, 2024 | Tax News

A business that operates car dealerships rightly had the gross receipts from its sale of an Alaskan dealership excluded from its California sales factor, the California Office of Tax Appeals ruled.

Think Tank Projects Broad Tax Hikes If TCJA Expires

by usoftax_admin | May 7, 2024 | Tax News

Most U.S. taxpayers would see substantially increased tax bills if the individual provisions of the Tax Cuts and Jobs Act are allowed to expire at the end of 2025, the Tax Foundation said Tuesday.

Ore. Tax Court Drops Values Of Residential Parcels

by usoftax_admin | May 7, 2024 | Tax News

The Oregon Tax Court ruled that the real market values of two parcels teed up for a residential subdivision should be lowered after agreeing with the owner’s comparable sales study and development cost analysis.

Colo. Legislature OKs Apprenticeship Tax Credit

by usoftax_admin | May 7, 2024 | Tax News

Colorado would create a refundable income tax credit for the creation of apprenticeship programs, up to $12,600 per apprentice per year, under a bill passed by the state Senate.
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