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A British food wholesaler of American snacks is not liable for VAT on its product Mega Marshmallows, which are used for making s’mores, because the marshmallows are not considered confectionery, a U.K. tribunal held in Innovative Bites Ltd. v. HM Revenue & Customs.
The IRS was able to get advance child tax credit payments out relatively quickly, but millions of the payments were sent to taxpayers who shouldn’t have gotten them, and millions more didn’t get to others who qualified, according to a new audit.