US International Tax Issues to Watch In 2025
As President-elect Donald Trump and Republicans take control of the U.S. government in 2025, policymakers are expected to address changing international provisions in the Internal Revenue Code and reevaluate the country's role in global tax talks. Here, Law360 examines key U.S. international tax policy issues to watch in the new year.
Federal Tax Policy To Watch In 2025
While Republicans will hold majorities in both chambers of Congress in 2025, internal party divisions and procedural hurdles could complicate the GOP's effort to renew its 2017 tax overhaul law. Here, Law360 details federal tax policy to watch this year.
State And Local Tax Policy To Watch In 2025
Responses to the federal government's expected changes to the SALT cap and a continuing push to capture more sales tax revenue from the digital economy are expected to headline state and local tax policy discussions in 2025. Here, Law360 spotlights potential legislative trends to monitor this year.
Federal More
As the new year begins, associates at all levels should consider establishing career metrics, fostering key relationships and employing other specific strategies to help move through the complexities of the le... (more story)
The U.S. Supreme Court justices will return from the winter holidays to tackle major First Amendment questions and several administrative law disputes — all arising from the Fifth Circuit — that could further ... (more story)
Major multinational corporations such as 3M and Coca-Cola will continue to litigate high-stakes international tax cases during 2025, including transfer pricing disputes with billions of dollars on the line and... (more story)
Over the next year, tax practitioners will be closely monitoring suits that challenge the IRS' use of the economic substance doctrine, take advantage of the U.S. Supreme Court's landmark decision curbing feder... (more story)
The Fifth Circuit on Monday lifted a lower court's nationwide block of a federal corporate transparency law, ruling in an unpublished order that the federal government made a "strong showing" that it could suc... (more story)
An IRS supervisor can approve penalties anytime before the agency assesses them, as well as before it issues a preassessment notice subject to a U.S. Tax Court review, such as a deficiency notice, under final ... (more story)
Tax professionals who practice before the IRS and charge clients contingent fees in connection with preparing returns will be subject to sanctions for disreputable conduct under rules proposed by the U.S. Trea... (more story)
State & Local More
State And Local Tax Cases To Watch In 2025
From a matter concerning the taxability of a corporate stock sale to issues of apportionment and sourcing, 2025 promises to reveal a lot about state and local tax law. Here, Law360 examines state and local tax... (more story)
Banks, Not Credit Cos., Can Duck New Ill. Fee Law For Now
An Illinois federal judge ruled Friday that credit card companies like Visa and Mastercard must comply with Illinois' landmark law restricting certain credit card fees; however, she also held that national ban... (more story)
Pact Board Fails To OK Remote Seller Back Sales Tax Plan
A voluntary disclosure program proposal that would allow remote sellers to limit their back sales tax liabilities in states that participate in the Streamlined Sales and Use Tax Agreement fell one vote shy of ... (more story)
NJ Atty Says RICO Case Only Alleges He Acted As Lawyer
New Jersey attorney William Tambussi has slammed the Garden State's response to his bid to toss charges against him in the state's sweeping indictment against power broker George E. Norcross III, claiming it d... (more story)
Outgoing Wash. Gov. Proposes Wealth Tax In Budget
Washington state would levy a 1% tax on residents with worldwide wealth of more than $100 million and increase taxes on businesses under a budget proposal from outgoing Gov. Jay Inslee.
Making The Pitch To Grow Your Company's Legal Team
In a compressed economy, convincing the C-suite to invest in additional legal talent can be a herculean task, but a convincing pitch — supported by metrics and cost analyses — may help in-house counsel justify... (more story)
Fla. Court Won't Dismiss JetBlue Airline Miles Tax Case
JetBlue can proceed with its arguments that the Florida Department of Revenue's method of determining the airline's miles flown in the state violated the U.S. Constitution's commerce and due process clauses, a... (more story)
New Jersey Power Broker Says RICO Case Isn't Fit For Jury
Defendants dubbed the "Norcross Enterprise" are fighting back against New Jersey Attorney General Matthew Platkin's assertion that their bid to toss a criminal indictment accusing them of engaging in a sprawli... (more story)
Top State And Local Tax Cases Of 2024
From the U.S. Supreme Court declining to hear a construction company's case over South Dakota apportionment to the Minnesota Tax Court's ruling on a packing product company's nexus in the state, this has been ... (more story)
From a matter concerning the taxability of a corporate stock sale to issues of apportionment and sourcing, 2025 promises to reveal a lot about state and local tax law. Here, Law360 examines state and local tax... (more story)
An Illinois federal judge ruled Friday that credit card companies like Visa and Mastercard must comply with Illinois' landmark law restricting certain credit card fees; however, she also held that national ban... (more story)
A voluntary disclosure program proposal that would allow remote sellers to limit their back sales tax liabilities in states that participate in the Streamlined Sales and Use Tax Agreement fell one vote shy of ... (more story)
New Jersey attorney William Tambussi has slammed the Garden State's response to his bid to toss charges against him in the state's sweeping indictment against power broker George E. Norcross III, claiming it d... (more story)
Washington state would levy a 1% tax on residents with worldwide wealth of more than $100 million and increase taxes on businesses under a budget proposal from outgoing Gov. Jay Inslee.
In a compressed economy, convincing the C-suite to invest in additional legal talent can be a herculean task, but a convincing pitch — supported by metrics and cost analyses — may help in-house counsel justify... (more story)
JetBlue can proceed with its arguments that the Florida Department of Revenue's method of determining the airline's miles flown in the state violated the U.S. Constitution's commerce and due process clauses, a... (more story)
Defendants dubbed the "Norcross Enterprise" are fighting back against New Jersey Attorney General Matthew Platkin's assertion that their bid to toss a criminal indictment accusing them of engaging in a sprawli... (more story)
From the U.S. Supreme Court declining to hear a construction company's case over South Dakota apportionment to the Minnesota Tax Court's ruling on a packing product company's nexus in the state, this has been ... (more story)
International More
European Tax Policy To Watch In 2025
The European Union may have to go it alone on international tax policy in 2025, especially because President-elect Donald Trump's return to power means the U.S. will likely oppose any multilateral solution to ... (more story)
Utah Judge Pauses Challenge To Corporate Transparency Act
A Utah federal judge has stayed a case seeking to block the Corporate Transparency Act to see how the new administration of President-elect Donald Trump handles the law after a kindred case in Texas won a prel... (more story)
Osborne Clarke Pro Fined £50K Over Zahawi Libel Letter
A tribunal fined an Osborne Clarke LLP partner who represented Nadhim Zahawi £50,000 ($62,700) on Friday for trying to stop a blogger revealing that the former chancellor was contemplating libel action over al... (more story)
5th Circ. Urged To Deny Tax Break For Doc's Captive Insurance
A physician who owns a network of urgent care clinics was correctly denied tax deductions along with his wife for over $1 million in premiums they paid to insurance companies they owned, the government told th... (more story)
Skat Fights To Bring New Cum-Ex Fraud Case Against Broker
The Danish tax authority argued at a London appeals court on Wednesday that it should not be blocked from bringing fresh tax fraud claims against an English brokerage, contending that the claims cover new mate... (more story)
Morrison Foerster Cites Tariffs As Key M&A Variable For 2025
International law firm Morrison Foerster LLP is among those citing President-elect Donald Trump's tariff plans as a key wild card that could affect mergers and acquisitions deal flow in 2025, a Wednesday repor... (more story)
Dutch Bank Exec Gave IRS Good Tax Tip, DC Circ. Judge Says
D.C. Circuit judges grappled Wednesday with the denial of a whistleblower award to a late Dutch bank executive who tipped off the IRS to tax reporting schemes, with one judge saying during oral arguments that ... (more story)
The European Union may have to go it alone on international tax policy in 2025, especially because President-elect Donald Trump's return to power means the U.S. will likely oppose any multilateral solution to ... (more story)
A Utah federal judge has stayed a case seeking to block the Corporate Transparency Act to see how the new administration of President-elect Donald Trump handles the law after a kindred case in Texas won a prel... (more story)
A tribunal fined an Osborne Clarke LLP partner who represented Nadhim Zahawi £50,000 ($62,700) on Friday for trying to stop a blogger revealing that the former chancellor was contemplating libel action over al... (more story)
A physician who owns a network of urgent care clinics was correctly denied tax deductions along with his wife for over $1 million in premiums they paid to insurance companies they owned, the government told th... (more story)
The Danish tax authority argued at a London appeals court on Wednesday that it should not be blocked from bringing fresh tax fraud claims against an English brokerage, contending that the claims cover new mate... (more story)
International law firm Morrison Foerster LLP is among those citing President-elect Donald Trump's tariff plans as a key wild card that could affect mergers and acquisitions deal flow in 2025, a Wednesday repor... (more story)
D.C. Circuit judges grappled Wednesday with the denial of a whistleblower award to a late Dutch bank executive who tipped off the IRS to tax reporting schemes, with one judge saying during oral arguments that ... (more story)