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SC Judges Probe Where Mastercard Earns Its Income
A South Carolina appellate panel weighed Wednesday whether Mastercard's network, which allows cardholders to buy goods and services and withdraw money, is the company's income-producing activity and occurs within South Carolina, thus obligating the company to pay about $7.7 million in taxes, fees and interest.
4th Circ. Appears Unpersuaded By $22M Tax Fraud Appeal
Two attorneys and an insurance agent faced a Fourth Circuit panel Wednesday that seemed hard-pressed to overturn their convictions for orchestrating a $22 million tax avoidance scheme, with the judges casting doubt on their venue objections and claims that the false tax returns contained truthful information.
Arizona Governor Vetoes 'Reckless' Budget, Tax Package
Arizona Gov. Katie Hobbs vetoed a budget and tax package, saying the Republican-backed plan would make the state default on debt obligations and slash critical services while giving tax breaks to billionaires and special interests.
Federal More
An Orlando couple were sentenced to prison for participating in a $148 million construction payroll scheme and evading more than $37 million in payroll taxes, Florida federal prosecutors announced Wednesday.
Following the Tenth Circuit’s recent Liberty Global v. U.S. decision, which held the economic substance doctrine does not require a threshold relevancy determination, taxpayers can prepare for potential audit... (more story)
Eligible partnerships may soon be able to settle their disputes with the IRS over charitable tax deductions claimed on their donated conservation or historic preservation easements under an upcoming "time-limi... (more story)
A Chinese citizen seeking a refund of penalties imposed by the IRS over a failure to report wedding gifts she received from abroad cannot argue the agency must collect the penalties through a civil action, a C... (more story)
More than a dozen lawyers and defendants packed a Colorado federal courtroom Tuesday to mark the first day of testimony in the trial against four individuals accused of using their businesses to help promote a... (more story)
An energy investment company told the First Circuit that its self-employment tax dispute is distinct from that of the taxpayer in a 2009 Federal Circuit ruling that barred refunds to a partnership's individual... (more story)
A Wisconsin village is asking the Seventh Circuit to undo a U.S. Department of the Interior decision to place 500 acres of properties into trust for the Oneida Nation, arguing that a district court ignored evi... (more story)
State & Local More
JetBlue Asks Appeals Court To Find Fla. Tax Unconstitutional
JetBlue asked a Florida state appeals court to rule that the state's method of taxing airline income unconstitutionally counts miles flown outside Florida's borders, arguing that a trial court misapplied a tes... (more story)
Texas Worker Can't Be Taxed As Unitary Biz, Calif. Panel Rules
A Texas-based radiologist who worked remotely as an independent contractor for a California company was a sole proprietor engaged in a single business activity and cannot be taxed as a unitary business, a stat... (more story)
Fla. Cites Petty Defense Of Social Media Law, Groups Say
Tech groups urged a Florida federal court to deny an attempt to end a lawsuit challenging a state law that punishes social media websites for banning accounts of political candidates' based on viewpoint, calli... (more story)
Minn. Valuation Tampering Claim Knocked Down By Tax Court
A Minnesota attorney's claim that a county assessor tampered with a witness in a valuation dispute was rejected by the state's tax court, which called the accusation "scurrilous" and found the attorney willful... (more story)
Hawaii Lawmakers OK Ending Tax Credits To Fill Budget Gap
Hawaii would end an assortment of tax credits in an effort to make up for a revenue shortfall under a bill passed by state lawmakers and sent to the governor.
2 AI Snafus Show Why Attys Can't Outsource Judgment
The recent incident involving Sullivan & Cromwell where citations in a filed motion were fabricated by artificial intelligence, as well as a punitive ruling from the Sixth Circuit in U.S. v. Farris, demonstrat... (more story)
Do Androids Dream Of Paying No Taxes? SALT In Review
From tax incentives for data centers to Washington state's new income tax on high earners, RSM's David Brunori offers his thoughts on noteworthy state and local tax news.
JetBlue asked a Florida state appeals court to rule that the state's method of taxing airline income unconstitutionally counts miles flown outside Florida's borders, arguing that a trial court misapplied a tes... (more story)
A Texas-based radiologist who worked remotely as an independent contractor for a California company was a sole proprietor engaged in a single business activity and cannot be taxed as a unitary business, a stat... (more story)
Tech groups urged a Florida federal court to deny an attempt to end a lawsuit challenging a state law that punishes social media websites for banning accounts of political candidates' based on viewpoint, calli... (more story)
A Minnesota attorney's claim that a county assessor tampered with a witness in a valuation dispute was rejected by the state's tax court, which called the accusation "scurrilous" and found the attorney willful... (more story)
Hawaii would end an assortment of tax credits in an effort to make up for a revenue shortfall under a bill passed by state lawmakers and sent to the governor.
The recent incident involving Sullivan & Cromwell where citations in a filed motion were fabricated by artificial intelligence, as well as a punitive ruling from the Sixth Circuit in U.S. v. Farris, demonstrat... (more story)
From tax incentives for data centers to Washington state's new income tax on high earners, RSM's David Brunori offers his thoughts on noteworthy state and local tax news.
International More
Tax Reform Crucial To EU-Ukraine Loan Talks, Official Says
A European Union official said Tuesday that tax reform is an important part of negotiations with Ukraine over unlocking a portion of a €90 billion ($105.3 billion) financial assistance loan for the country.
US Ends $15M Tax Refund Fight With Gas Biz Partners
The U.S. government agreed to end litigation alleging that several Texas residents had erroneously claimed a total of about $15 million in tax refunds tied to a partnership involving gas and oil operations in ... (more story)
Waldorf Beats HMRC Bid To Ax Debt Plan Over £70M Tax Loss
A London court sanctioned North Sea oil company Waldorf Production's debt restructuring plan on Tuesday, rejecting HM Revenue and Customs' argument that the proposals would unfairly wipe out some £69.8 million... (more story)
EU States Agree To Share Data To Combat VAT Fraud
European Union member states agreed Tuesday to give anti-fraud bodies more direct access to value-added tax data to better combat VAT-related crime.
Canada Pledges $1.1B For Companies Hit By US Tariffs
Canada will provide CA$1.5 billion ($1.1 billion) in financing to companies impacted by U.S. tariffs, especially those on steel, aluminum and copper, the Canadian government said Monday, the latest in a string... (more story)
Canada Court Rejects $16M Forex Loss Deduction
A Canadian businessman intentionally carried out foreign exchange trades to incur losses, a Canadian appeals court ruled, agreeing with a lower court that he accordingly cannot claim a CA$22 million ($16.2 mil... (more story)
Biz Group Slams IRS' 'Implicit Support' Argument In Eaton
An international business group urged the U.S. Tax Court to reject IRS arguments that Eaton Corp. deserved a higher credit rating due to its foreign parent's "implicit support," saying the case could significa... (more story)
A European Union official said Tuesday that tax reform is an important part of negotiations with Ukraine over unlocking a portion of a €90 billion ($105.3 billion) financial assistance loan for the country.
The U.S. government agreed to end litigation alleging that several Texas residents had erroneously claimed a total of about $15 million in tax refunds tied to a partnership involving gas and oil operations in ... (more story)
A London court sanctioned North Sea oil company Waldorf Production's debt restructuring plan on Tuesday, rejecting HM Revenue and Customs' argument that the proposals would unfairly wipe out some £69.8 million... (more story)
European Union member states agreed Tuesday to give anti-fraud bodies more direct access to value-added tax data to better combat VAT-related crime.
Canada will provide CA$1.5 billion ($1.1 billion) in financing to companies impacted by U.S. tariffs, especially those on steel, aluminum and copper, the Canadian government said Monday, the latest in a string... (more story)
A Canadian businessman intentionally carried out foreign exchange trades to incur losses, a Canadian appeals court ruled, agreeing with a lower court that he accordingly cannot claim a CA$22 million ($16.2 mil... (more story)
An international business group urged the U.S. Tax Court to reject IRS arguments that Eaton Corp. deserved a higher credit rating due to its foreign parent's "implicit support," saying the case could significa... (more story)