India's Top Court Allows Tax Credits For Excise Duties Paid
Excise duties that India's mobile telecommunication providers pay when building the infrastructure for their networks — such as transmission towers — can be used as tax credits, the Supreme Court of India ruled Wednesday.
Feds Want 1 Year In Prison For Accountant Who Hid $1.4M
An accountant who hid $1.4 million from the IRS should be sentenced to at least a year in prison despite his stated mental health issues, the government told a Connecticut federal court, saying he seemed driven at least partly by greed and thought he wouldn't get caught.
Boston Mayor Touts Property Tax Relief Bill Before Panel
Massachusetts lawmakers should allow Boston to adjust its property tax calculations to stabilize the share borne by residences, mitigating an impending tax hike, and boost a business personal property tax exemption, Boston's mayor told a legislative panel Wednesday.
India's Top Court Allows Tax Credits For Excise Duties Paid
Excise duties that India's mobile telecommunication providers pay when building the infrastructure for their networks — such as transmission towers — can be used as tax credits, the Supreme Court of India ruled Wednesday.
Feds Want 1 Year In Prison For Accountant Who Hid $1.4M
An accountant who hid $1.4 million from the IRS should be sentenced to at least a year in prison despite his stated mental health issues, the government told a Connecticut federal court, saying he seemed driven at least partly by greed and thought he wouldn't get caught.
Boston Mayor Touts Property Tax Relief Bill Before Panel
Massachusetts lawmakers should allow Boston to adjust its property tax calculations to stabilize the share borne by residences, mitigating an impending tax hike, and boost a business personal property tax exemption, Boston's mayor told a legislative panel Wednesday.
Federal More
A Florida couple asked the Eleventh Circuit Wednesday to revive their proposed class suit against the state's chief financial officer over a law that allows officials to hold unclaimed money indefinitely, argu... (more story)
A barred Florida tax preparer was sentenced to four years in prison for falsifying returns to trigger inflated refunds for participants in a three-year tax fraud scheme called the "note program," the U.S. Depa... (more story)
Throughout his recent campaign, President-elect Donald Trump promised increased oil and natural gas production and reduced reliance on renewables — and his administration will likely bring more oil and gas dea... (more story)
The U.S. government intends to renew its request to resolve a narrow matter in a dispute with an international businessman facing an $11.6 million penalty for willful failure to report his foreign bank account... (more story)
Eleventh Circuit judges seemed unconvinced by a couple's request to overturn a decision that they owed taxes on $1.2 million in savings that their daughter swindled from them, saying during oral arguments Wedn... (more story)
Making permanent the provisions of the 2017 tax overhaul that are set to expire at the end of 2025 would provide certainty for businesses and individuals and encourage investment and expansion, former House Wa... (more story)
The winner of the "Survivor" television series who evaded taxes on his $1 million in prize money and served time in prison should pay $3.3 million of his civil liabilities, including fraud penalties, a federal... (more story)
State & Local More
NJ Court Must Revisit Assessor's Workplace Retaliation Claim
A New Jersey trial court must revisit a municipal tax assessor's workplace retaliation claim as the case used by the court in its decision doesn't exempt assessors from the state's employee protection law, an ... (more story)
Pennsylvania Justices Nix Alcatel-Lucent's $4M Tax Refund
Recent precedent should not be applied retroactively when deciding if a flat-dollar cap on Alcatel-Lucent's net loss deduction violated the Pennsylvania Constitution, the state's Supreme Court ruled Wednesday,... (more story)
NJ Power Broker, Attys Demand Wiretap Docs In RICO Case
George E. Norcross III, a politically influential insurance executive in New Jersey, and others accused alongside him of a massive racketeering scheme demanded Wednesday that state prosecutors turn over comple... (more story)
MTC Form Aims To Placate Tax Leery Post-Wayfair Sellers
The Multistate Tax Commission hopes to finalize a form that certifies that marketplace facilitators will collect taxes on behalf of marketplace sellers, a commission director announced Tuesday, saying the docu... (more story)
MTC Partnership Group Eyes Sourcing Of Business Income
The Multistate Tax Commission group working on the state taxation of partnerships pondered Tuesday how to source the business income of partnerships, especially those with complex structures.
States Should Revisit Biz HQ Sourcing Rules, MTC Attys Say
States should rethink the concept of sourcing nonbusiness income to where a multistate company is commercially domiciled, Multistate Tax Commission attorneys suggested Tuesday, saying the expansion of remote w... (more story)
Ohio Board OKs Income Approach In Two Theater Valuations
Two Ohio movie theaters should be valued using the income approach to valuation applied by a county appraiser, the state tax board said in separate rulings involving two counties.
Microsoft Asks Ore. Tax Court To Revisit Repatriation Finding
The Oregon Tax Court was wrong in its analysis of Microsoft Corp.'s taxable income in the state when it rejected the company's proposals for alternative treatment of its repatriated foreign earnings, the company said.
The Bar Needs More Clarity On The Discovery Objection Rule
Almost 10 years after Federal Rule of Civil Procedure 34 was amended, attorneys still seem confused about what they should include in objections to discovery requests, and until the rules committee provides ad... (more story)
A New Jersey trial court must revisit a municipal tax assessor's workplace retaliation claim as the case used by the court in its decision doesn't exempt assessors from the state's employee protection law, an ... (more story)
Recent precedent should not be applied retroactively when deciding if a flat-dollar cap on Alcatel-Lucent's net loss deduction violated the Pennsylvania Constitution, the state's Supreme Court ruled Wednesday,... (more story)
George E. Norcross III, a politically influential insurance executive in New Jersey, and others accused alongside him of a massive racketeering scheme demanded Wednesday that state prosecutors turn over comple... (more story)
The Multistate Tax Commission hopes to finalize a form that certifies that marketplace facilitators will collect taxes on behalf of marketplace sellers, a commission director announced Tuesday, saying the docu... (more story)
The Multistate Tax Commission group working on the state taxation of partnerships pondered Tuesday how to source the business income of partnerships, especially those with complex structures.
States should rethink the concept of sourcing nonbusiness income to where a multistate company is commercially domiciled, Multistate Tax Commission attorneys suggested Tuesday, saying the expansion of remote w... (more story)
Two Ohio movie theaters should be valued using the income approach to valuation applied by a county appraiser, the state tax board said in separate rulings involving two counties.
The Oregon Tax Court was wrong in its analysis of Microsoft Corp.'s taxable income in the state when it rejected the company's proposals for alternative treatment of its repatriated foreign earnings, the company said.
Almost 10 years after Federal Rule of Civil Procedure 34 was amended, attorneys still seem confused about what they should include in objections to discovery requests, and until the rules committee provides ad... (more story)
International More
UK Biz Owes Taxes On £200M Sale Of Lease, Court Affirms
A U.K. property company owes tax on its intragroup purchase of a lease for a 50-story apartment tower in central London for £200 million ($253 million) despite its tax advisers' promise of a tax-free step-up i... (more story)
Data Centers Ineligible For Tax Breaks, UK Justices Affirm
The U.K. Supreme Court dismissed a British developer's appeal Wednesday, ruling that HM Revenue & Customs was right to deny the company tax allowances it claimed on building two data centers in an enterprise zone.
G20 To Cooperate On Soft Law For Taxing Ultra-Wealthy
Leaders of the world's largest economies intend to cooperate on taxing "ultra-high-net-worth individuals" through soft law approaches such as exchanging best practices and creating model policies that address ... (more story)
Tax Court Won't Reverse On Foreign Reporting Penalties
The U.S. Tax Court affirmed Monday its position that the IRS lacks authority to assess certain foreign information reporting penalties, denying the agency's request to reverse a ruling that let a Missouri busi... (more story)
EU Members Face Choice Over Trump Tax Stance, Group Says
Member states of the European Union will have to pick a side if President-elect Donald Trump's incoming administration abandons global tax reform, the Tax Justice Network said Monday.
EU Court OKs Making Execs Show Cause To Escape Tax Debt
It's acceptable under European Union law to require a business director seeking to rid themselves of their company's tax debt to prove they weren't responsible for failing to notify authorities of their inabil... (more story)
6th Circ. Pauses IRS Summons For Eaton Worker Docs
The Sixth Circuit said Eaton Corp. doesn't have to comply with an IRS demand to produce performance reviews for its foreign employees until the appellate court decides whether to overturn a decision that the a... (more story)
A U.K. property company owes tax on its intragroup purchase of a lease for a 50-story apartment tower in central London for £200 million ($253 million) despite its tax advisers' promise of a tax-free step-up i... (more story)
The U.K. Supreme Court dismissed a British developer's appeal Wednesday, ruling that HM Revenue & Customs was right to deny the company tax allowances it claimed on building two data centers in an enterprise zone.
Leaders of the world's largest economies intend to cooperate on taxing "ultra-high-net-worth individuals" through soft law approaches such as exchanging best practices and creating model policies that address ... (more story)
The U.S. Tax Court affirmed Monday its position that the IRS lacks authority to assess certain foreign information reporting penalties, denying the agency's request to reverse a ruling that let a Missouri busi... (more story)
Member states of the European Union will have to pick a side if President-elect Donald Trump's incoming administration abandons global tax reform, the Tax Justice Network said Monday.
It's acceptable under European Union law to require a business director seeking to rid themselves of their company's tax debt to prove they weren't responsible for failing to notify authorities of their inabil... (more story)
The Sixth Circuit said Eaton Corp. doesn't have to comply with an IRS demand to produce performance reviews for its foreign employees until the appellate court decides whether to overturn a decision that the a... (more story)