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Colo. Lawmakers OK Local-Option Property Tax Credits

by usoftax_admin | Feb 27, 2024 | Tax News

Local governments in Colorado would be authorized to grant property tax incentives to address local shortcomings related to the usage of real property under legislation approved Tuesday by the General Assembly.

DOL Finalizing ERISA Voluntary Correction Program Changes

by usoftax_admin | Feb 27, 2024 | Tax News

A top official with the U.S. Department of Labor’s employee benefits arm said Tuesday that the agency expects to soon finalize changes to a program allowing retirement plan managers to voluntarily self-correct when they fail to forward employee contributions on...

IRS Nixes Digital Filing Of Form For Foreigners For 2 Years

by usoftax_admin | Feb 27, 2024 | Tax News

Certain withholding agents will not be required to electronically file a form relating to U.S.-based income of foreigners in 2024 and 2025, the Internal Revenue Service announced Tuesday.

Ga. House OKs Senior Property Tax Exemption Referendum

by usoftax_admin | Feb 27, 2024 | Tax News

Georgia would exempt some senior citizens from independent school district ad valorem taxes in the city of Atlanta up to $100,000 of assessed property value if a referendum is approved, under a bill sent to the governor. 

Minn. Adjusts Standard Deductions In Tax Package Fix

by usoftax_admin | Feb 27, 2024 | Tax News

Minnesota adjusted its standard deduction amounts for tax year 2023 under a bill signed by the governor to fix an error in a legislative tax package enacted last year.

Ky. Bill Would Swap Flat Income Tax For 3 Brackets

by usoftax_admin | Feb 27, 2024 | Tax News

A bill introduced in the Kentucky House of Representatives would replace the state’s 4.5% flat income tax with three tax brackets intended to assess higher rates on higher income.
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