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Wyden Plans Crackdown On Private Placement Life Insurance

by usoftax_admin | Feb 21, 2024 | Tax News

Senate Finance Committee Chairman Ron Wyden plans a legislative push to thwart abuse of private placement life insurance, according to a report he released Wednesday that called the arrangements a tax shelter worth at least $40 billion that benefits a small group of...

IRS Interest Rates Will Stay Same In 2nd Quarter

by usoftax_admin | Feb 21, 2024 | Tax News

The Internal Revenue Service’s interest rates for underpayments and overpayments will not change for the second quarter of 2024, the agency said Wednesday.

Wis. Assembly OKs Reduction Of Veto Power

by usoftax_admin | Feb 21, 2024 | Tax News

The Wisconsin Assembly passed a joint resolution that would restrict the governor from using a partial veto on appropriation bills in a way that would increase taxes or fees.

Colo. House OKs Expanding Quarterly Sales Tax Remittance

by usoftax_admin | Feb 21, 2024 | Tax News

Colorado would allow the state Department of Revenue to authorize quarterly sales and use tax filings for more taxpayers under a bill passed in the state House of Representatives. 

Miss. Bill Would Exempt Forgiven Student Loans From Income

by usoftax_admin | Feb 21, 2024 | Tax News

Mississippi would exclude forgiven student loan debt from gross income under a bill introduced in the state House of Representatives.

Developing Countries Favor Majority Voting At UN Tax Group

by usoftax_admin | Feb 21, 2024 | Tax News

The United Nations General Assembly’s simple majority voting rules should continue to apply in a steering committee to draft rules, procedures and possibly goals for a framework convention on global tax cooperation, although governments should still pursue...
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