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Biz Owner’s $2.4M FBAR Dispute Paused For Mediation

by usoftax_admin | Feb 29, 2024 | Tax News

The U.S. government and a retired plumbing business owner mutually agreed to a 90-day stay of their $2.4 million tax dispute over foreign bank account reporting while they try to mediate a solution, a Georgia federal judge said Thursday.

NY Shouldn’t Pair 421-a Restoration And Good Cause Eviction

by usoftax_admin | Feb 29, 2024 | Tax News

The good cause eviction system of rent control should not be imposed in New York, nor should its legislation be tied to renewal of the 421-a tax abatement program, which New York City desperately needs, says Alexander Lycoyannis at Holland & Knight.

IRS Funding Cuts Would Raise Deficit $24B, CBO Says

by usoftax_admin | Feb 29, 2024 | Tax News

A congressional agreement to rescind $20 billion in appropriated funding for the Internal Revenue Service this year would add $24 billion to the federal deficit through the next 10 years, according to Congressional Budget Office projections published Thursday.

Wash. Concrete Co. Loses Challenge To Sales Tax Rule

by usoftax_admin | Feb 29, 2024 | Tax News

A Washington state appeals court rejected a company’s challenge to a state rule that imposes sales tax on concrete pumping services, saying the rule doesn’t need to be invalidated even if it differs from another rule on the treatment of such...

NC Says Court Blocked From Philip Morris Franchise Tax Spat

by usoftax_admin | Feb 29, 2024 | Tax News

The North Carolina Department of Revenue urged the state Supreme Court to uphold a loss for Philip Morris in the agency’s fight to fetch more than $300,000 in franchise tax from the tobacco giant, arguing that state law forbids an administrative court to...

Ga. Man Convicted In $11M PPP Fraud Case Wants New Trial

by usoftax_admin | Feb 29, 2024 | Tax News

An Atlanta man convicted on dozens of charges stemming from an $11 million pandemic loan fraud scheme has asked a Georgia federal judge for a new trial.
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