Shipbuilder not entitled to research tax credit, 7th Circuit affirms
The 7th Circuit Court of Appeals has affirmed the denial of a research tax credit for a southern Indiana shipbuilder.
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Ex-Anderson Schools bookkeeper sentenced to 28 months after stealing nearly $1M from school corporation
An Anderson bookkeeper who stole nearly $1 million from a school corporation has been sentenced to 28 months in federal prison after pleading guilty to wire fraud and falsifying tax documents.
Department of Revenue nets partial victory in R&D tax dispute
The Indiana Tax Court has affirmed the Indiana Department of State Revenue’s decisions about the amount of sales tax that a pharmaceutical research firm owes on its research-and-development-related utility purchases.
Indiana House GOP ‘exploring options’ to postpone school tax referendums, including for IPS
Indiana House Republicans are mulling legislation to delay local referendums to increase school property taxes until the fall election, a move that could have major implications for a rebuilding plan for Indianapolis Public Schools.
Proposal could ax business personal property tax for thousands
A House lawmaker is reviving an effort to make changes to the business personal property tax that would offer a bit of a windfall to small-business owners while reducing local government revenue.
IRS announces Jan. 23 start date for tax-filing season
The official start date of the 2023 tax filing season is Jan. 23, when the IRS will begin accepting and processing 2022 returns, the agency announced Thursday.
Lawmakers cautiously eye property tax relief with big bills on horizon
Indiana lawmakers are drawing up changes to the state’s property tax system, with high value assessments last spring pointing toward potentially high bills this year. But their approach has been cautious.
Indianapolis dermatologist pleads guilty to understating taxes
An Indianapolis physician has pleaded guilty to understating his taxes by about $361,000 over a four-year period, a felony.
Soshnick: The perils of constructive dividends in divorce cases
When buying out a spouse’s business interest, the temptation is to draw funds from the corporation to pay. However, the potential unintended tax consequences of this approach can be both significant and detrimental.
Trump’s tax returns released after long fight with Congress
Democrats in Congress released six years’ worth of former President Donald Trump’s tax returns on Friday, the culmination of a yearslong effort.
Should the state ax its individual income tax?
A powerful Indiana Senate Republican plans to introduce legislation next year to create a commission to consider changes to Indiana’s tax structure, including phasing out the state income tax.
IRS mandatory presidential audit policy goes under spotlight
An IRS policy governing the audits of tax returns filed by U.S. presidents is under new scrutiny after a report found the agency failed to perform the mandatory inspection of Donald Trump’s returns until Congress pressed for information about the process.
Indiana Senate proposes reevaluating state’s tax structure
Some state senators are touting the possibility of reinventing Indiana’s tax structure to determine whether the state could eliminate individual and corporate income taxes.
Trump Organization convicted in executive tax dodge scheme
Donald Trump’s company was convicted of tax fraud Tuesday for helping executives dodge taxes on extravagant perks such as Manhattan apartments and luxury cars.
Treasury making Trump taxes available to House committee
The Treasury Department said Wednesday it has complied with a court order to make former President Donald Trump’s tax returns available to a congressional committee.
Appellate court provides reprieve to homeowners not notified of tax sale
Citing the requirements of equity and due process, the Court of Appeals of Indiana has reversed a tax sale, finding the homeowners did not receive any notice that their Madison County property was being sold.
Supreme Court OKs handover of Trump tax returns to Congress
The U.S. Supreme Court on Tuesday cleared the way for the imminent handover of former President Donald Trump’s tax returns to a congressional committee after a three-year legal fight.
Council committee OKs $15.5M in TIF bonds for Marion Co. Jail II redevelopment
The planned $120 million revamp of the former Jail II building and Arrestee Processing Center in downtown Indianapolis by 1820 Ventures could be aided by $15.5 million in tax increment financing bonds, pending full City-County Council approval.
Tax Court affirms Lake Co. assessments, cites lack of evidence in record
A development company seeking a significant reduction in Lake County tax assessments failed to offer sufficient evidence to support a reduction, the Indiana Tax Court has affirmed.
Roberts delays handover of Trump tax returns to House panel
Chief Justice John Roberts on Tuesday put a temporary hold on the handover of former President Donald Trump’s tax returns to a congressional committee.