Taxpayers who were cheered on by the Tax Court’s decision in Farhy v. Commr. (160 T.C. No. 6) will now be saddened by the reversal of that decision by the D.C. Circuit Court of Appeal.
Read MoreOn December 3, 2024, the U.S. District Court for the Eastern District of Texas granted a nationwide preliminary injunction preventing enforcement of the Corporate Transparency Act. The court found that the plaintiffs were likely to succeed in their claim that the C.T.A. is unconstitutional.
On June 20, 2024, the Supreme Court issued its decision in Moore v. U.S., and put to bed a taxpayer challenge directed at the transition tax.
On May 3, the Justice Department filed a motion in the Ninth Circuit to dismiss its appeal of the U.S. District Court for the Southern District of California’s decision in *Aroeste v. U.S.*
Taxpayers who were cheered on by the Tax Court’s decision in Farhy v. Commr. (160 T.C. No. 6) will now be saddened by the reversal of that decision by the D.C. Circuit Court of Appeal.
In a case brought by The National Small Business Association and National Small Business United, the United States District Cour for the Northern District of Alabama held the C.T.A.
Beginning January 1, 2024, the Corporate Transparency Act (“CTA”) will impose certain reporting requirements on “reporting companies” to file with the Financial Crimes Enforcement Network of the U.S. Department of the Treasury (“FinCEN”) reports containing personal information about the company’s beneficial owners and persons with control.
The Financial Crimes Enforcement Network (“FinCEN”) department of the Treasury has announced recently that it will begin requiring taxpayers to report virtual currency on FinCEN Form 114, Report of Foreign Bank and Financial Accounts (known as the “F.B.A.R.”). Currently, FinCEN does not include accounts holding only virtual currency in the list of “reportable accounts” under the purview of F.B.A.R., but Treasury wants to change that.
It’s that time again… conducted every five years, the Commerce Department Bureau of Economic Analysis benchmark survey of U.S. Direct Investment Abroad, referred to as a BE-10 report, is due on May 29th.
I.T.S.G. publishes its Global Tax Journal five times each year. The current edition, released on May 6, 2020, addresses the responses to the COVID-19 pandemic by countries across the world.
The Treasury Department and the Internal Revenue Service today issued guidance that provides relief to individuals and businesses affected by travel disruptions arising from the COVID-19 emergency.
Ruchelman P.L.L.C. provides a wide range of tax planning and legal services for foreign companies operating in the U.S., foreign financial institutions operating ...
