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Dirty Dozen list from IRS opens with phishing, smishing scams

by usoftax_admin | Mar 28, 2024 | Tax News

The IRS opened its annual Dirty Dozen list with scams that trick recipients into clicking a suspicious link, filling out personal and financial information, or downloading malware onto their computer.

Tax Court Revokes Treasury’s Easement Perpetuity Rule

by usoftax_admin | Mar 28, 2024 | Tax News

A divided U.S. Tax Court on Thursday invalidated Treasury rules regarding requirements for charitable donations of conservation easements to protect conservation purposes in perpetuity, granting a partial win to an Oklahoma partnership fighting to keep its $14.8...

Corp. Transparency Act Overbroad, Mich. Group Tells Court

by usoftax_admin | Mar 28, 2024 | Tax News

The Corporate Transparency Act is overbroad and violates both the Fourth and Fifth Amendments of the U.S. Constitution, the Small Business Association of Michigan told a federal court in a case similar to one currently in the Eleventh Circuit.

Colo. Senate Panel OKs Rental Car Fee For Rail Funding

by usoftax_admin | Mar 28, 2024 | Tax News

Colorado would impose a daily fee on vehicle rentals to raise funding for rail and transit infrastructure projects under legislation approved by a state Senate panel over protests from the rental car industry that the measure could conflict with federal law.

Abuse Of Discretion Claims Fall Flat In $13M Tax Court Case

by usoftax_admin | Mar 28, 2024 | Tax News

The federal government may proceed with collecting on a $13 million tax liability after a Colorado woman failed to prove that there was an abuse of discretion when the IRS sustained a levy against her, the U.S. Tax Court ruled Thursday.

Musician’s Trips To Japan Not Business, Tax Court Rules

by usoftax_admin | Mar 28, 2024 | Tax News

A musician who said he traveled to Japan to conduct market research and learn about the country’s music culture cannot claim a deduction of nearly $20,000 in travel expenses, the U.S. Tax Court ruled Thursday.
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