China Hikes US Tariffs To 125%, Saying No More Tit-For-Tat
China's government said Friday it has raised its tariffs on U.S. goods to 125% and won't match future tariff rate increases by President Donald Trump, who according to the White House has set the rate for most Chinese goods at 145%.
NFT Owner Admits To Dodging Tax On Crypto Art Sales
A Pennsylvania man pled guilty to filing false tax returns and underreporting his income by $13.1 million after selling 97 nonfungible token artworks, federal prosecutors said Friday.
New Calif. Tax Appeals Head Affirms Focus On Transparency
The new executive director of the California Office of Tax Appeals says she is focused on transparency for all parties and vows to make the office's guidance and proceedings as accessible as possible. Here, Law360 speaks with Myriam Bouaziz about her latest role and the inner workings of the OTA.
China Hikes US Tariffs To 125%, Saying No More Tit-For-Tat
China's government said Friday it has raised its tariffs on U.S. goods to 125% and won't match future tariff rate increases by President Donald Trump, who according to the White House has set the rate for most Chinese goods at 145%.
NFT Owner Admits To Dodging Tax On Crypto Art Sales
A Pennsylvania man pled guilty to filing false tax returns and underreporting his income by $13.1 million after selling 97 nonfungible token artworks, federal prosecutors said Friday.
New Calif. Tax Appeals Head Affirms Focus On Transparency
The new executive director of the California Office of Tax Appeals says she is focused on transparency for all parties and vows to make the office's guidance and proceedings as accessible as possible. Here, Law360 speaks with Myriam Bouaziz about her latest role and the inner workings of the OTA.
Federal More
California federal prosecutors are seeking the release of a former FBI informant who is serving a six-year prison sentence for falsely telling agents that former President Joe Biden and his son Hunter Biden ha... (more story)
The U.S. government urged a New York federal court not to trim its complaint against the former shareholders of a family holding company accused of participating in an $81 million tax scheme, saying the family... (more story)
The wide-ranging tariffs imposed by President Donald Trump's administration, including those that were recently paused for 90 days, will harm the U.S. worse than the European Union, the bloc's economic commiss... (more story)
A New Jersey federal judge sentenced a nursing home operator to three years in prison for a $39 million employment tax fraud scheme involving care centers he owned across the country, a term three times as lon... (more story)
In this week's Taxation With Representation, Capri Holdings sells Versace to Prada, Woodside Energy sells a liquefied natural gas terminal stake to Stonepeak, crypto infrastructure firm Ripple acquires prime b... (more story)
Immigration advocates trying to block the Internal Revenue Service from disclosing taxpayers' information to the U.S. Department of Homeland Security and other agencies urged a D.C. federal court on Thursday t... (more story)
A California congressman on Thursday introduced a bill in the U.S. House aiming to curb the authority of President Donald Trump to impose new or additional duties on agricultural products from countries that a... (more story)
State & Local More
Minn. Panel Advances New Markets Tax Credit Plan
Minnesota would establish a new markets tax credit program similar to the federal credit for investments in qualified community development entities under legislation advanced by a state House of Representatives panel.
Mich. Top Court Won't Hear Appeal Of $217M Dam Repair Tax
The Michigan Supreme Court on Friday said it wouldn't hear an appeal from a host of homeowners challenging a $217 million special assessment to fund the repair of dams and restoration of lakes after 2020 flood... (more story)
Cookies, Cribs, Curiousness: SALT In Review
From Massachusetts' cookie-based take on a federal law to Pennsylvania's proposed tax exemption for cribs, RSM's David Brunori offers his thoughts on noteworthy state and local tax news.
Kan. Legislature Overrides Veto Of Tax Cuts Linked To Goals
The Kansas Legislature on Thursday overrode the governor's veto of a bill that decreases the state's income and privilege tax rates if certain general revenue fund goals are met.
Minn. Panel Advances Nonresidents' 30-Day Tax Safe Harbor
Residents of certain states who earn income in Minnesota for fewer than 30 days in a tax year would be exempt from filing income tax returns in the state under legislation advanced Thursday by a state House panel.
Minn. House Panel Advances Private Tax Letter Program
Minnesota would adopt a private letter ruling program to provide confidential guidance to taxpayers who ask for it under legislation advanced Thursday by a state House committee.
Pa. Justices Try To Referee Pittsburgh's 'Jock Tax'
Pennsylvania's Supreme Court justices looked to punt Thursday on whether the city of Pittsburgh's "jock tax" was uniform enough to pass constitutional muster, taking the unusual step of ordering extra briefing... (more story)
Sullivan & Worcester Hires Fried Frank REIT Tax Pro
Sullivan & Worcester LLP announced Thursday that it has hired a Fried Frank Harris Shriver & Jacobson LLP partner, noting that the attorney comes to the firm with deep real estate investment trust tax expertise.
Dechert Tax Pro Jumps To Whiteford In NY
Whiteford Taylor & Preston LLC has added an experienced transactional tax attorney from Dechert LLP as a partner to its practice in New York, the firm announced.
Minnesota would establish a new markets tax credit program similar to the federal credit for investments in qualified community development entities under legislation advanced by a state House of Representatives panel.
The Michigan Supreme Court on Friday said it wouldn't hear an appeal from a host of homeowners challenging a $217 million special assessment to fund the repair of dams and restoration of lakes after 2020 flood... (more story)
From Massachusetts' cookie-based take on a federal law to Pennsylvania's proposed tax exemption for cribs, RSM's David Brunori offers his thoughts on noteworthy state and local tax news.
The Kansas Legislature on Thursday overrode the governor's veto of a bill that decreases the state's income and privilege tax rates if certain general revenue fund goals are met.
Residents of certain states who earn income in Minnesota for fewer than 30 days in a tax year would be exempt from filing income tax returns in the state under legislation advanced Thursday by a state House panel.
Minnesota would adopt a private letter ruling program to provide confidential guidance to taxpayers who ask for it under legislation advanced Thursday by a state House committee.
Pennsylvania's Supreme Court justices looked to punt Thursday on whether the city of Pittsburgh's "jock tax" was uniform enough to pass constitutional muster, taking the unusual step of ordering extra briefing... (more story)
Sullivan & Worcester LLP announced Thursday that it has hired a Fried Frank Harris Shriver & Jacobson LLP partner, noting that the attorney comes to the firm with deep real estate investment trust tax expertise.
Whiteford Taylor & Preston LLC has added an experienced transactional tax attorney from Dechert LLP as a partner to its practice in New York, the firm announced.
International More
Court Affirms Nix Of £2M VAT Refund For Cars' Data Devices
The British Court of Appeal affirmed Friday that a company wasn't entitled to recoup £2 million ($2.6 million) in value-added tax charged on the installation of event-data-recording devices in cars.
Exec Facing Tax Evasion Charges To Remain In Custody
An aerospace company founder facing tax evasion and other fraud charges will remain in pretrial detention because he's considered a major flight risk, a D.C. federal court ruled.
Trump's Int'l Trade Pick Says Tech Deals Sought In Tariff Talks
President Donald Trump could look to prioritize and coordinate tech investments with countries approaching the U.S. to strike a deal to avoid higher tariff rates currently suspended, Trump's pick to lead inter... (more story)
Germany Forms New Gov't With Plans To Cut Corporate Taxes
German political parties the Christian Democrats and the Social Democrats reached a coalition government agreement, including terms for corporate tax cuts and support for the global minimum corporate tax rate.
A Cold War-Era History Lesson On Due Process
The landmark Harry Bridges case from the mid-20th century Red Scare offers important insights on why lawyers must be free of government reprisal, no matter who their client is, says Peter Afrasiabi at One LLP.
Canada Retaliates With 25% Tariffs On US Cars And Parts
Canada began slapping 25% tariffs on American cars and parts Wednesday as retaliation against tariffs on Canadian products implemented by President Donald Trump, the country's Department of Finance announced.
How BigLaw Executive Orders May Affect Smaller Firms
Because of the types of cases they take on, solo practitioners, small law firms and public interest attorneys may find themselves more dramatically affected by the collective impact of recent government action... (more story)
The British Court of Appeal affirmed Friday that a company wasn't entitled to recoup £2 million ($2.6 million) in value-added tax charged on the installation of event-data-recording devices in cars.
An aerospace company founder facing tax evasion and other fraud charges will remain in pretrial detention because he's considered a major flight risk, a D.C. federal court ruled.
President Donald Trump could look to prioritize and coordinate tech investments with countries approaching the U.S. to strike a deal to avoid higher tariff rates currently suspended, Trump's pick to lead inter... (more story)
German political parties the Christian Democrats and the Social Democrats reached a coalition government agreement, including terms for corporate tax cuts and support for the global minimum corporate tax rate.
The landmark Harry Bridges case from the mid-20th century Red Scare offers important insights on why lawyers must be free of government reprisal, no matter who their client is, says Peter Afrasiabi at One LLP.
Canada began slapping 25% tariffs on American cars and parts Wednesday as retaliation against tariffs on Canadian products implemented by President Donald Trump, the country's Department of Finance announced.
Because of the types of cases they take on, solo practitioners, small law firms and public interest attorneys may find themselves more dramatically affected by the collective impact of recent government action... (more story)