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Businessman Indicted Over Hiding $20M In Swiss Accounts

by usoftax_admin | Mar 22, 2024 | Tax News

A Brazilian-American businessman accused by the government in a criminal complaint of hiding $20 million from the Internal Revenue Service over 35 years by using Swiss bank accounts was indicted by a federal grand jury in Miami and charged with tax evasion, according...

Wash. Capital Gains Tax Foes Pivot To Voters To Kill The Tax

by usoftax_admin | Mar 22, 2024 | Tax News

Opponents of the capital gains tax in Washington state, having been frustrated in attempts to quash the tax in the courts, have now moved to trying to do so at the ballot box, hoping that voters, not the courts, will have the last word on the tax.

Stock Buyback Tax Regs Imminent, Treasury Official Says

by usoftax_admin | Mar 22, 2024 | Tax News

Proposed regulations on the federal stock buyback tax will be released imminently and will address feedback on a rule designed to prevent foreign companies from avoiding the tax using U.S. affiliates, a Treasury official said Friday.

IRS Opens Bonus Energy Credits To More Offshore Wind Sites

by usoftax_admin | Mar 22, 2024 | Tax News

The Internal Revenue Service unveiled guidance Friday that would allow more parts of offshore wind facilities to qualify for the bonus production and investment tax credits that provide incentives for clean energy projects being built in so-called energy...

LA Atty Who Repped Rodney King Charged With Tax Evasion

by usoftax_admin | Mar 22, 2024 | Tax News

A Los Angeles attorney who represented Rodney King in a civil case against the city of Los Angeles after King was severely beaten by police has been hit with federal tax evasion charges.

Ohio Board Upholds $2.2M Hotel Value Cut Due To COVID

by usoftax_admin | Mar 22, 2024 | Tax News

The Ohio Board of Tax Appeals upheld a local tax board’s decision to lower the value of a hotel property by $2.2 million, saying in an order Friday that the hotel proved COVID-19 led to a reduction in value.
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