State Digital Goods Sourcing Proposal Clears Early Hurdle
3 Key Takeaways From Floated Foreign Trust Reporting Rules
State Digital Goods Sourcing Proposal Advanced By Council
State Digital Goods Sourcing Proposal Clears Early Hurdle
States could apply the highest, lowest or a blended state and local tax rate inside a five-digit ZIP code area to sales of digital goods when buyers aren't required to provide their full address under a proposal given preliminary approval Wednesday by the Streamlined Sales Tax Governing Board.
3 Key Takeaways From Floated Foreign Trust Reporting Rules
Proposed rules for reporting transactions with foreign trusts recently issued by the U.S. Treasury Department provide breathing room on disclosure requirements for certain offshore retirement accounts, but leave open some questions about classification. Here, Law360 breaks down three sections of the proposed foreign trust reporting regulations.
State Digital Goods Sourcing Proposal Advanced By Council
States could apply the highest, lowest or a blended state and local tax rate inside a five-digit ZIP code area to sales of digital goods when buyers aren't required to provide their full address under a proposal advanced Tuesday by a Streamlined Sales Tax Governing Board council.
Federal More
The man in charge of a Connecticut strip club and two of his associates operated the business as a brothel, took payments for "commercial sex acts," lied to secure a $150,000 federal COVID-19 relief grant, and... (more story)
The former chief financial officer of a Russian gas company who was sentenced to seven years in prison for hiding money in Swiss banks can't escape the government's civil suit seeking nearly $44 million in rep... (more story)
The House Ways and Means Committee approved a package of bills Wednesday that would increase scrutiny of foreign donations to tax-exempt organizations, including legislation that would require those organizati... (more story)
Schulte Roth & Zabel LLP added a former Kleinberg Kaplan Wolff & Cohen PC partner with a focus on private investment funds to its tax group in New York.
An Eleventh Circuit judge was skeptical Wednesday of the government's arguments that the Internal Revenue Service could issue a notice imposing reporting requirements on potentially abusive conservation easeme... (more story)
The House Judiciary Committee's Republican chairman asked an IRS watchdog to reveal findings from investigations into allegations of IRS employee misconduct, including in a high-profile $38 million conservatio... (more story)
A former Gilmore & Monahan PA partner — who was convicted of failing to pay payroll taxes and lying on a loan application, and was pardoned by then-President Donald Trump — has received a two-year suspension f... (more story)
State & Local More
Colo. Will Extend Property Tax Assessment Rate Cuts
Colorado will extend its current temporary property tax rate reductions into 2024 and will lower tax rates for future years under a bill signed by Democratic Gov. Jared Polis.
Ariz. Court Sides With Solar Farm On Tax Credits In Valuation
Arizona's tax department wrongly excluded deferred investment credits from the calculation of a solar energy facility's property valuation, a state appeals court ruled, saying the credits should be considered ... (more story)
Biz Founder Who Left Mass. Fights Tax On $4.7M Gain
A $4.7 million capital gain from the sale of stock by a former Massachusetts resident should not be subject to that state's tax, a couple told a state appeals court, seeking to overturn a finding that the inco... (more story)
Tax Pact Council OKs Nexus, Registration Advice For States
A Streamlined Sales Tax Board council on Tuesday approved a recommendation for states to provide remote sellers with at least 30 days to begin collecting sales tax after crossing economic nexus thresholds, and... (more story)
Texas Justices Leave Cities' Franchise-Fee Suit Tossed
The Texas Supreme Court has refused to vacate a lower appeals court's order that allowed Hulu, Disney and Netflix to escape a lawsuit from 31 municipalities claiming the streaming platforms are required to pay... (more story)
A Vision For Economic Clerkships In The Legal System
As courts handle increasingly complex damages analyses involving vast amounts of data, an economic clerkship program — integrating early-career economists into the judicial system — could improve legal outcome... (more story)
Ex-Whiteford Taylor Business Co-Chair Joins Baker Donelson
Baker Donelson Bearman Caldwell & Berkowitz PC has welcomed a new shareholder who spent more than a decade with the Internal Revenue Service and previously co-chaired Whiteford Taylor & Preston LLP's business ... (more story)
Corp. Transparency Act An Overbroad Dragnet, 11th Circ. Told
Congress exceeded its authority in passing the Corporate Transparency Act, which prompted the U.S. Treasury Department to solicit personal information for law enforcement purposes from those that registered an... (more story)
Ill. Remote Seller Rules Violate Wayfair, Calif. Seller Claims
A California-based business argued that Illinois' remote seller system presents unconstitutional burdens, telling the state tax tribunal that Illinois' varying sourcing rules and the quick pace by which it ado... (more story)
Colorado will extend its current temporary property tax rate reductions into 2024 and will lower tax rates for future years under a bill signed by Democratic Gov. Jared Polis.
Arizona's tax department wrongly excluded deferred investment credits from the calculation of a solar energy facility's property valuation, a state appeals court ruled, saying the credits should be considered ... (more story)
A $4.7 million capital gain from the sale of stock by a former Massachusetts resident should not be subject to that state's tax, a couple told a state appeals court, seeking to overturn a finding that the inco... (more story)
A Streamlined Sales Tax Board council on Tuesday approved a recommendation for states to provide remote sellers with at least 30 days to begin collecting sales tax after crossing economic nexus thresholds, and... (more story)
The Texas Supreme Court has refused to vacate a lower appeals court's order that allowed Hulu, Disney and Netflix to escape a lawsuit from 31 municipalities claiming the streaming platforms are required to pay... (more story)
As courts handle increasingly complex damages analyses involving vast amounts of data, an economic clerkship program — integrating early-career economists into the judicial system — could improve legal outcome... (more story)
Baker Donelson Bearman Caldwell & Berkowitz PC has welcomed a new shareholder who spent more than a decade with the Internal Revenue Service and previously co-chaired Whiteford Taylor & Preston LLP's business ... (more story)
Congress exceeded its authority in passing the Corporate Transparency Act, which prompted the U.S. Treasury Department to solicit personal information for law enforcement purposes from those that registered an... (more story)
A California-based business argued that Illinois' remote seller system presents unconstitutional burdens, telling the state tax tribunal that Illinois' varying sourcing rules and the quick pace by which it ado... (more story)
International More
EU Court Upholds Ruling Against Spanish Ship Tax Scheme
The European Union's General Court upheld Wednesday a European Commission ruling that a Spanish tax scheme for ships constructed in the nation's domestic shipyards was incompatible with the EU's internal market.
South African Tax Official Says Data Swaps Too Limited
South Africa's requests to exchange information on taxpayers with authorities around the world are often denied for criminal investigations of tax crimes, while automatic exchanges sometimes lack the full iden... (more story)
Taxpayers Let Down By HMRC Digital Service, Says Watchdog
HM Revenue and Customs has let down taxpayers by failing to deliver better online services, according to a report published on Wednesday by the public spending watchdog.
EU Finance Ministers Strike Deal On Withholding Tax Refunds
European Union finance ministers agreed Tuesday to a withholding tax refund law, as previous holdouts Poland and the Czech Republic withdrew their objections.
EU Chair To Fight On For VAT Deal After Estonia's Rejection
The chair of the European Union's council of finance ministers said he will fight to get unanimous support for a wide-ranging reform of value-added tax rules after Estonia blocked agreement to the law Tuesday.
House GOP Bills Target Foreign Funding To Tax-Exempt Orgs
The House Ways and Means Committee will vote Wednesday on a package of bills that would increase scrutiny of foreign donations to tax-exempt organizations, including legislation that would require those organi... (more story)
A Look At New IRS Rules For Domestically Controlled REITs
The Internal Revenue Services' finalized Treasury Regulations addressing whether real estate investment trusts qualify as domestically controlled adopt the basic structure of previous proposals, but certain ne... (more story)
The European Union's General Court upheld Wednesday a European Commission ruling that a Spanish tax scheme for ships constructed in the nation's domestic shipyards was incompatible with the EU's internal market.
South Africa's requests to exchange information on taxpayers with authorities around the world are often denied for criminal investigations of tax crimes, while automatic exchanges sometimes lack the full iden... (more story)
HM Revenue and Customs has let down taxpayers by failing to deliver better online services, according to a report published on Wednesday by the public spending watchdog.
European Union finance ministers agreed Tuesday to a withholding tax refund law, as previous holdouts Poland and the Czech Republic withdrew their objections.
The chair of the European Union's council of finance ministers said he will fight to get unanimous support for a wide-ranging reform of value-added tax rules after Estonia blocked agreement to the law Tuesday.
The House Ways and Means Committee will vote Wednesday on a package of bills that would increase scrutiny of foreign donations to tax-exempt organizations, including legislation that would require those organi... (more story)
The Internal Revenue Services' finalized Treasury Regulations addressing whether real estate investment trusts qualify as domestically controlled adopt the basic structure of previous proposals, but certain ne... (more story)