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Ill. Total Revenues Through March Beat Estimates By $486M

by usoftax_admin | Apr 23, 2024 | Tax News

Illinois’ total revenues from July through March were higher than budget estimates by $486 million, according to a monthly report by the state Office of Management and Budget.

Wis. Pro Gamblers Limited In Wagering Loss Deduction

by usoftax_admin | Apr 23, 2024 | Tax News

A Wisconsin couple deemed professional gamblers by the state Department of Revenue may deduct gambling losses only to the extent of their gains, the state Tax Appeals Commission ruled.

Vt. General Fund Revenues Through March Up $10M

by usoftax_admin | Apr 23, 2024 | Tax News

Vermont’s general revenue collection from July through March was $10 million higher than the same period last year, according to a report by the state’s Agency of Administration.

Va. Tax Head Finds Man’s Ties To State Justify Assessment

by usoftax_admin | Apr 23, 2024 | Tax News

A man with significant ties to Virginia remained subject to its income tax because he failed to prove that he cut those ties as of the tax year at issue, the state’s tax commissioner ruled.

Tax Court OKs IRS Notice After Petitioner Spews ‘Gibberish’

by usoftax_admin | Apr 23, 2024 | Tax News

The U.S. Tax Court ruled in favor of the Internal Revenue Service on Tuesday after a Nevada woman used “tax protester gibberish,” the court said, in an attempt to circumvent more than $37,000 in unreported income.

Biz Ownership Law Constitutional, Lawmakers Tell 11th Circ.

by usoftax_admin | Apr 23, 2024 | Tax News

The Corporate Transparency Act is a garden-variety exercise of Congress’ powers to address threats to national security, foreign affairs, commerce and tax collection, five Democratic lawmakers told the Eleventh Circuit, disputing a ruling that the law is...
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