Tax Court Must Reconsider Medtronic Pricing, 8th Circ. Says
The U.S. Tax Court should reconsider its use of a hybrid approach for pricing intangibles that Medtronic licensed to a Puerto Rican affiliate, the Eighth Circuit said Wednesday, vacating the ruling and directing the court to revisit the IRS' pricing method.
11th Circ. Affirms Slashing Ex-Braves' $47M Easement Break
A $47 million conservation easement deduction for a partnership founded by two former Atlanta Braves players was overvalued, the Eleventh Circuit affirmed Tuesday, saying none of the partnership's arguments undermined the U.S. Tax Court's finding that the easement property was worth far less than it claimed.
Oregon House OKs Tax Boosts In Transportation Bill
Oregon would boost its gas tax and vehicle registration fees to support transportation infrastructure projects in a package approved by the state House of Representatives, in a move supporters said would head off cuts in services by the state transportation department.
Tax Court Must Reconsider Medtronic Pricing, 8th Circ. Says
The U.S. Tax Court should reconsider its use of a hybrid approach for pricing intangibles that Medtronic licensed to a Puerto Rican affiliate, the Eighth Circuit said Wednesday, vacating the ruling and directing the court to revisit the IRS' pricing method.
11th Circ. Affirms Slashing Ex-Braves' $47M Easement Break
A $47 million conservation easement deduction for a partnership founded by two former Atlanta Braves players was overvalued, the Eleventh Circuit affirmed Tuesday, saying none of the partnership's arguments undermined the U.S. Tax Court's finding that the easement property was worth far less than it claimed.
Oregon House OKs Tax Boosts In Transportation Bill
Oregon would boost its gas tax and vehicle registration fees to support transportation infrastructure projects in a package approved by the state House of Representatives, in a move supporters said would head off cuts in services by the state transportation department.
Federal More
The House Appropriations Committee approved legislation Wednesday that would cut the Internal Revenue Service's funding by $2.8 billion for the 2026 fiscal year, sending the proposal to the full House for consideration.
Northwestern Mutual is seeking a refund of $23 million in taxes for on-campus lunches it provided to employees, telling a Wisconsin federal court that the IRS improperly denied the company an exclusion on taxa... (more story)
A software company founder facing more than $100 million in tax debt from his participation in an illegal tax shelter should have been allowed to settle with the Internal Revenue Service for $1.5 million becau... (more story)
The Tenth Circuit overturned Tuesday a conviction against a man who did not report trust income on his personal tax returns, saying the New Mexico district court erred in presenting instructions on the conspir... (more story)
The One Big Beautiful Bill Act's deferral of begin-construction deadlines and the phaseout of certain energy tax credits will provide emerging technologies with welcome breathing room, though other changes, li... (more story)
As I learned when I transitioned from an assistant U.S. attorney to a BigLaw partner, the move from government to private practice is not without its hurdles, but it offers immense potential for growth and the... (more story)
A New York investment company has asked the Second Circuit to review a U.S. Tax Court ruling that sustained a $142 million increase to its net earnings and found its principals did not qualify as limited partn... (more story)
State & Local More
Ore. Vote On $4.3B Transportation Tax Plan Delayed 2 Weeks
The Oregon Legislature's final word on a transportation bill with $4.3 billion in tax and fee increases will wait until Sept. 17 following the postponement of votes Wednesday until the expected return of a Dem... (more story)
Colorado Pipeline Co. Challenges $314M Property Valuation
Colorado assets of a petroleum pipeline company were wrongly valued by the state for property tax purposes at $314 million, the company said, challenging its valuation for at least the third straight year.
Colo. Man Has Extra Time To Redeem Property, Court Says
A Colorado man whose property was subject to a tax auction is allowed to redeem the property outside the three-year statute of limitations, a state appeals court said, finding he had a disability that qualifie... (more story)
Advice For 1st-Gen Lawyers Entering The Legal Profession
Nikki Hurtado at The Ferraro Law Firm tells her story of being a first-generation lawyer and how others who begin their professional journeys without the benefit of playbooks handed down by relatives can turn ... (more story)
Ore. GOP Starts Session With Calls For Broader Budget Look
Oregon legislators contemplating a $5.8 billion, 10-year transportation funding package should take a broader look at the state's budget in light of a recent report predicting a drop in revenues, Republican la... (more story)
NY Tenants Claim Cos. Hiked Rents, Abused Tax Exemption
A multifamily real estate company and a property owner were accused by a proposed class in New York state court of illegally raising rents for Long Island City residential tenants by taking advantage of the st... (more story)
Taxation With Representation: White & Case, Paul Weiss
In this week's Taxation With Representation, private equity firm Sycamore Partners completes its $24 billion acquisition of Walgreens Boots Alliance Inc., telecommunications company EchoStar sells wireless spe... (more story)
Thank Goodness For The First Amendment: SALT In Review
From an important court ruling against Maryland's digital tax to petitions proposing tax cuts and limits in Massachusetts, RSM's David Brunori offers his thoughts on noteworthy state and local tax news.
COST Asks Calif. High Court To Review Utility Tax Case
The California Supreme Court should decide whether AT&T unit Pacific Bell and other telecommunication companies can be taxed at a different property tax rate from nonutilities, the Council on State Taxation to... (more story)
The Oregon Legislature's final word on a transportation bill with $4.3 billion in tax and fee increases will wait until Sept. 17 following the postponement of votes Wednesday until the expected return of a Dem... (more story)
Colorado assets of a petroleum pipeline company were wrongly valued by the state for property tax purposes at $314 million, the company said, challenging its valuation for at least the third straight year.
A Colorado man whose property was subject to a tax auction is allowed to redeem the property outside the three-year statute of limitations, a state appeals court said, finding he had a disability that qualifie... (more story)
Nikki Hurtado at The Ferraro Law Firm tells her story of being a first-generation lawyer and how others who begin their professional journeys without the benefit of playbooks handed down by relatives can turn ... (more story)
Oregon legislators contemplating a $5.8 billion, 10-year transportation funding package should take a broader look at the state's budget in light of a recent report predicting a drop in revenues, Republican la... (more story)
A multifamily real estate company and a property owner were accused by a proposed class in New York state court of illegally raising rents for Long Island City residential tenants by taking advantage of the st... (more story)
In this week's Taxation With Representation, private equity firm Sycamore Partners completes its $24 billion acquisition of Walgreens Boots Alliance Inc., telecommunications company EchoStar sells wireless spe... (more story)
From an important court ruling against Maryland's digital tax to petitions proposing tax cuts and limits in Massachusetts, RSM's David Brunori offers his thoughts on noteworthy state and local tax news.
The California Supreme Court should decide whether AT&T unit Pacific Bell and other telecommunication companies can be taxed at a different property tax rate from nonutilities, the Council on State Taxation to... (more story)
International More
Finnish Co. Loses Bid For Access To Aid Files In EU Tax Probe
A Finnish packaging maker can't access documents from a European Union state aid investigation of the company's Luxembourg tax arrangements and of other companies' tax affairs, the EU's lower court ruled Wednesday.
UK Autumn Budget Set For November, Reeves Confirms
The U.K. government will announce its autumn budget in November, Chancellor of the Exchequer Rachel Reeves said Wednesday amid growing speculation that the government will raise taxes to cover the rising cost of borrowing.
Gov't Says Fla. Ex-Rep Can't Escape Foreign Agent Case
A former congressman and political consultant accused of secretly lobbying for the Venezuelan government should not be allowed to escape Foreign Agents Registration Act charges, the U.S. government argued, say... (more story)
Split Fed. Circ. Backs Limits On Presidential Tariff Powers
The Federal Circuit held that President Donald Trump's emergency tariffs were improperly imposed under the International Emergency Economic Powers Act, which it said makes no mention of "tariff," "duties" or "tax."
EU Moves To Lift Tariffs As Part Of US Trade Deal
The European Commission has started the process of eliminating European Union tariffs on U.S. goods as part of its trade agreement with the U.S., the commission announced.
Apple Must Hand Swiss User's Records To IRS, Judge Rules
Apple must provide the Internal Revenue Service with a Swiss user's internet and phone records as part of a criminal investigation by Switzerland's taxing authority, a California federal judge ruled, despite t... (more story)
Textiles Boss Must Pay Back £90M Stolen In VAT Fraud
The boss of a British textiles company has been ordered to repay more than £90 million ($121 million) from a major tax fraud or face more time in prison, the Crown Prosecution Service said Friday.
A Finnish packaging maker can't access documents from a European Union state aid investigation of the company's Luxembourg tax arrangements and of other companies' tax affairs, the EU's lower court ruled Wednesday.
The U.K. government will announce its autumn budget in November, Chancellor of the Exchequer Rachel Reeves said Wednesday amid growing speculation that the government will raise taxes to cover the rising cost of borrowing.
A former congressman and political consultant accused of secretly lobbying for the Venezuelan government should not be allowed to escape Foreign Agents Registration Act charges, the U.S. government argued, say... (more story)
The Federal Circuit held that President Donald Trump's emergency tariffs were improperly imposed under the International Emergency Economic Powers Act, which it said makes no mention of "tariff," "duties" or "tax."
The European Commission has started the process of eliminating European Union tariffs on U.S. goods as part of its trade agreement with the U.S., the commission announced.
Apple must provide the Internal Revenue Service with a Swiss user's internet and phone records as part of a criminal investigation by Switzerland's taxing authority, a California federal judge ruled, despite t... (more story)
The boss of a British textiles company has been ordered to repay more than £90 million ($121 million) from a major tax fraud or face more time in prison, the Crown Prosecution Service said Friday.