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Fla. Senate OKs Amendment Exempting Ag Land

by usoftax_admin | Mar 1, 2024 | Tax News

The Florida Senate approved a joint resolution that would exempt property on land classified as agricultural from property taxes if a constitutional amendment is approved by voters and enacted by the Legislature.

Colo. Revenue Collection In January Down $177M

by usoftax_admin | Mar 1, 2024 | Tax News

Colorado’s general revenue collection in January was roughly $177 million lower than it was in the same month last year, according to data from the state’s Department of Revenue.

NY Appeals Court OKs Cutting Golf Course Value By Millions

by usoftax_admin | Mar 1, 2024 | Tax News

A New York appeals court backed a decision cutting a golf course’s fair market value over several years from as high as $37 million to as low as $9 million, finding that an expert report and testimony by the property’s owners were supported by the facts of...

IRS Turning To Experts, AI For Complex Returns, Werfel Says

by usoftax_admin | Mar 1, 2024 | Tax News

The Internal Revenue Service is using a blend of newly hired subject-matter experts and artificial intelligence technology to increase scrutiny of complex tax returns filed by wealthy corporations and individuals, agency Commissioner Daniel Werfel said Friday.

Maine Tax Revenues Through Jan. Up $48M Over Estimates

by usoftax_admin | Mar 1, 2024 | Tax News

Maine’s revenue collection from July through January for fiscal year 2024 was $48 million over budget forecasts, the state Department of Administrative and Financial Services reported.

Tax Break Bill Could Still Pass After Tax Season, Aide Says

by usoftax_admin | Mar 1, 2024 | Tax News

If Senate lawmakers haven’t voted on the bipartisan House-passed tax bill by the end of the 2024 tax filing season, that doesn’t necessarily mean the bill won’t get to President Joe Biden’s desk this year, an aide to Democrats on the House Ways...
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