by usoftax_admin | Mar 31, 2025 | Tax News
The U.S. Tax Court rejected Monday a partnership’s nearly $26 million conservation easement deduction tied to a 110-acre farmland in Alabama, stating the partnership had failed to prove that its hypothetical limestone quarry in the property had skyrocketed the... by usoftax_admin | Mar 31, 2025 | Tax News
The U.S. House sent several bipartisan bills Monday to the Senate, including legislation that would codify the National Taxpayer Advocate’s ability to hire its own attorneys and require the Internal Revenue Service to update its process for notifying individuals... by usoftax_admin | Mar 31, 2025 | Tax News
Former Illinois House Speaker Michael Madigan urged an Illinois federal judge to acquit him of bribery and wire fraud, or at least order a new trial, due to “numerous” jury instruction and evidentiary errors that confused and prejudiced the jury, on the... by usoftax_admin | Mar 31, 2025 | Tax News
A son who transferred over $2 million of his mother’s estate to a partnership and then reported owing no estate tax improperly rendered the estate insolvent before paying the government, a Nevada federal court ruled, saying his wife and brother must pay the bill... by usoftax_admin | Mar 31, 2025 | Tax News
Massachusetts would become the latest state to adopt the Multistate Tax Commission’s position that out-of-state companies that engage in certain internet activities aren’t entitled to P.L. 86-272’s protection against state income taxes under a... by usoftax_admin | Mar 31, 2025 | Tax News
An organization that says New York City’s property tax regime discriminates against minorities can’t proceed with its claim, the city told the state appellate court, saying that further discovery or trial is needed.