by usoftax_admin | Feb 29, 2024 | Tax News
The Internal Revenue Service will not define certain public utilities as not recognizing gross income until the public utility receives the proceeds of a debt issued by the qualifying state financing entity, the agency said Thursday. by usoftax_admin | Feb 29, 2024 | Tax News
Two New Jersey municipalities cannot sue Netflix and Hulu for franchise fees under the state’s Cable Television Act, the Third Circuit held Thursday in a precedential opinion, saying the state statute reserves enforcement of the law to the state Board of Public... by usoftax_admin | Feb 29, 2024 | Tax News
Adding a simple election to the current regulatory framework for innocent spouse claims would benefit both taxpayers and the Internal Revenue Service by alleviating the undue burdens placed on those the program was intended to help and improving agency collections in... by usoftax_admin | Feb 29, 2024 | Tax News
The Internal Revenue Service is ramping up enforcement against 125,000 high-income taxpayers who haven’t filed returns since 2017 as a part of its ongoing efforts to increase tax compliance, the agency’s chief told reporters Thursday. by usoftax_admin | Feb 29, 2024 | Tax News
The U.S. Senate on Thursday confirmed a former director at EY who previously served as associate chief counsel, international, at the Internal Revenue Service to be the agency’s chief counsel, making her the first woman to be confirmed for the role. by usoftax_admin | Feb 29, 2024 | Tax News
Three years of medical device company Medtronic’s federal income tax returns are being audited by the Internal Revenue Service, the company said in a U.S. Securities and Exchange Commission filing.