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Firm Accused Of ‘Racial Panhandling’ In Its Tax Collection Biz

by usoftax_admin | Feb 27, 2024 | Tax News

Calling the property tax collection business in Texas a “white-boys-only club,” a Black attorney in Houston has sued an area firm in state court, alleging it hired him to secure a government contract by appearing diverse and then stiffed him on money he is...

Ex-Bank CFO Cops To $700K Theft And Life Insurance Scam

by usoftax_admin | Feb 26, 2024 | Tax News

An ex-Eastern International Bank chief financial officer has pled guilty to defrauding the bank out of more than $700,000 to pay his personal expenses, and he admitted to opening life insurance policies in the names of bank employees to benefit his wife, according to...

Ala. Tax Tribunal Says Co. May Deduct Foreign Payments

by usoftax_admin | Feb 26, 2024 | Tax News

A global food-packaging manufacturer that made $76.6 million in interest payments to an American parent, which then in turn made payments to foreign affiliates, is eligible for deductions in Alabama for those payments, the state tax tribunal ruled Monday.

US Can Bring Quick Appeal In Donor Reporting Rule Fight

by usoftax_admin | Feb 26, 2024 | Tax News

The federal government can immediately appeal a ruling that would require it to prove a strong governmental interest in forcing nonprofits to report their major donors, an Ohio federal court decided Monday, saying there’s significant room for a difference of...

Wealth Taxes Bring In Small Part Of G20 Revenue, Oxfam Says

by usoftax_admin | Feb 26, 2024 | Tax News

Roughly 8% of tax revenue collected by Group of 20 countries is raised from wealth taxes on average, compared with over 32% from taxes on goods and services, anti-poverty group Oxfam said Monday ahead of a G20 meeting in Brazil.

Inmate, 8 Others Charged In Trafficking, Tax Fraud Schemes

by usoftax_admin | Feb 26, 2024 | Tax News

A California prison inmate has been charged along with eight other individuals with operating two separate illegal schemes: one to distribute methamphetamine and another to fraudulently claim over $550 million in COVID-19-based tax credits.
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