by usoftax_admin | Apr 23, 2024 | Tax News
In the face of an impending wave of foreclosures, lenders and borrowers alike should consider two exit strategies — deed-in-lieu of foreclosure and consent foreclosure — that can mitigate potential costs and diminution in property value that could be incurred during a... by usoftax_admin | Apr 23, 2024 | Tax News
A Virginia woman may claim some itemized deductions for gambling losses and mortgage interest on her state income tax return, the state tax commissioner said, finding she provided sufficient documentation to substantiate some of the claimed costs. by usoftax_admin | Apr 23, 2024 | Tax News
The Michigan Department of Treasury said a state appeals court correctly determined that a cut in the state income tax rate was effective for only one year and urged the state Supreme Court to deny an appeal from a coalition of Michigan lawmakers, business groups and... by usoftax_admin | Apr 23, 2024 | Tax News
Australia’s updated draft ruling regarding when payments for the rights to distribute software would be considered royalties conflicts with OECD and U.S. standards on the treatment of such deals, a U.S. Department of the Treasury official said in a letter made... by usoftax_admin | Apr 23, 2024 | Tax News
Beneficiaries of an irrevocable trust that is subject to tax in Virginia aren’t entitled to tax credits attributable to the trust’s ownership of pass-through entities that elect to pay tax at the entity level, the state tax commissioner said. by usoftax_admin | Apr 23, 2024 | Tax News
The appeal of an Allegheny County, Pennsylvania, property assessment must use the ratio of property tax assessments in the area in the year the appeal was made to compare, the Commonwealth Court ruled. 