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Real Estate Owner Indicted On $4.8M Tax Evasion Charges

by usoftax_admin | Apr 25, 2024 | Tax News

A commercial real estate owner used a series of limited liability companies to hide $4.8 million in income from the Internal Revenue Service, according to an indictment in Washington federal court on tax evasion charges.

Attys, Insurance Agent Found Guilty Of Tax-Avoidance Scheme

by usoftax_admin | Apr 25, 2024 | Tax News

Two St. Louis tax attorneys and a North Carolina insurance agent on Thursday were found guilty on all counts of conspiring to defraud the federal government and aiding in the filing of false tax returns for their role in a tax avoidance scheme that prosecutors claim...

Workers’ Effective Tax Rates In OECD Countries Rise Again

by usoftax_admin | Apr 25, 2024 | Tax News

The effective tax rates on labor income in the majority of Organization for Economic Cooperation and Development member countries rose for the second year in a row in 2023, thanks in part to continued inflation, the OECD said Thursday.

OECD Says Latvia Must Shift Tax Burden, Limit Fuel Subsidies

by usoftax_admin | Apr 25, 2024 | Tax News

Latvia needs to shift its tax burden off labor and onto other forms of income such as property, and to eliminate harmful subsidies and tax practices around fossil fuels, the Organization for Economic Cooperation and Development said Thursday.

OECD Consolidates Past Pillar 2 Guidance Into Single Doc

by usoftax_admin | Apr 25, 2024 | Tax News

The Organization for Economic Cooperation and Development published administrative guidance Thursday that consolidates past publications on the interpretation and application of the international minimum tax agreement known as Pillar Two, which countries began...

ND General Revenue Collection Up $212.7M From Estimates

by usoftax_admin | Apr 25, 2024 | Tax News

North Dakota’s general revenue collections from July through March were up $212.7 million over projections, according to a report from the state’s Legislative Council.
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