by usoftax_admin | May 15, 2025 | Tax News
HM Revenue & Customs will have a regulatory basis to grant businesses canceling their value-added tax registration extensions for submitting their final tax return documents under a new measure, codifying a practice it routinely carries out now through... by usoftax_admin | May 15, 2025 | Tax News
The U.S. Tax Court said Thursday that it will not review a nearly $121,000 levy the Internal Revenue Service issued against a Massachusetts man, saying that it received his petition 194 days after the 30-day period to seek review in the court. by usoftax_admin | May 15, 2025 | Tax News
The Ohio tax appeals board didn’t err in determining that a couple’s home was correctly assessed at $450,000 based on its 2020 sale price, a state appeals court said in an opinion released Thursday. by usoftax_admin | May 15, 2025 | Tax News
The Internal Revenue Service on Thursday reopened the comment period for proposed rules that would require U.S. multinational companies to create annual shareholder accounts and adhere to new pooling concepts to properly account for previously taxed earnings and... by usoftax_admin | May 15, 2025 | Tax News
Texas will exempt security exchange operators from the state’s franchise tax under a bill signed by Gov. Greg Abbott. by usoftax_admin | May 15, 2025 | Tax News
Applicable federal rates for income tax purposes are set to mostly decrease in June, the fourth consecutive month in which rates have fallen, the Internal Revenue Service said Thursday. by usoftax_admin | May 15, 2025 | Tax News
House Republicans’ mammoth tax bill proposes phasing out two popular clean electricity business tax credits, but additional restrictions on eligible development projects’ foreign business ties could have the same effect as immediately repealing them. by usoftax_admin | May 15, 2025 | Tax News
The administrative requirements for complying with an international minimum tax agreement known as Pillar Two could end up costing companies more than any taxes they pay under the global regime, a Microsoft tax executive said Thursday. by usoftax_admin | May 15, 2025 | Tax News
The IRS has the authority to collect the restitution owed by a former attorney convicted of a $7 billion tax fraud scheme, the U.S. government told the Seventh Circuit, saying he is inventing a loophole to avoid paying his $371 million liability. by usoftax_admin | May 15, 2025 | Tax News
The IRS published the corporate bond monthly yield curve Thursday for use in calculations for defined benefit plans for May, as well as corresponding segment rates and other related provisions.