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Despite moratorium, IRS gets 20,000 ERC claims weekly, Werfel says

by usoftax_admin | Apr 18, 2024 | Tax News

IRS commissioner Danny Werfel told the Senate Finance Committee that a tax bill passed by the House in January would help the IRS combat fraud in employee retention credit claims.

Kenya plans TP database to crack down on tax evasion

by usoftax_admin | Apr 18, 2024 | Tax News

The proposed matrix will help revenue officers track intra-company transactions from multinationals

Corp. Transparency Act A Valid Use Of Powers, 11th Circ. Told

by usoftax_admin | Apr 18, 2024 | Tax News

The U.S. Department of Treasury told the Eleventh Circuit that a federal district court erred in finding the Corporate Transparency Act unconstitutional, saying the lower court misunderstood the law’s scope and relation to efforts to curb financial crime.

‘I Am Mad’: Client Regrets Trusting Atty Accused Of Tax Fraud

by usoftax_admin | Apr 17, 2024 | Tax News

Emotions ran high Wednesday in a North Carolina federal courtroom as former clients unwittingly roped into an alleged tax fraud scheme took the stand, one of whom was openly exasperated at learning he’d been misled by the two attorneys and an insurance agent who...

Damages Still Possible In Lease Tax Reimbursement Row

by usoftax_admin | Apr 17, 2024 | Tax News

A Court of Federal Claims judge has ruled that the General Services Administration could unilaterally adjust the real estate tax reimbursement methodology under a lease for the Defense Health Agency’s headquarters building, but the building owner may still be...

EV Tax Credit Restrictions, Trade Bills Advance In House

by usoftax_admin | Apr 17, 2024 | Tax News

The House Ways and Means Committee advanced several trade bills Wednesday that would impose more restrictions for new electric vehicles to qualify for a federal tax credit, assert congressional authority in agreements with foreign governments, and renew the...
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