Gov'ts Back UN Treaty's Services Protocol Covering DSTs
All income taxes and digital services taxes should be covered by the protocol on cross-border services under the United Nations framework convention on international tax cooperation, many governments said Monday during negotiations regarding the protocol.
Ore. Senate Panel OKs Tax Plan With Depreciation Decoupling
Oregon would decouple from the federal first-year depreciation of certain business property under a tax package advanced by a Senate panel over the objections of business groups and committee Republicans.
$19M In Foreign Account Penalties Required Jury, Court Told
A U.S.-German citizen who failed to report his foreign accounts to the IRS told a Florida federal court that his $19 million punishment violates his right to a jury trial under a U.S. Supreme Court ruling that curbed the use of in-house agency courts to hand down stiff penalties.
Gov'ts Back UN Treaty's Services Protocol Covering DSTs
All income taxes and digital services taxes should be covered by the protocol on cross-border services under the United Nations framework convention on international tax cooperation, many governments said Monday during negotiations regarding the protocol.
Ore. Senate Panel OKs Tax Plan With Depreciation Decoupling
Oregon would decouple from the federal first-year depreciation of certain business property under a tax package advanced by a Senate panel over the objections of business groups and committee Republicans.
$19M In Foreign Account Penalties Required Jury, Court Told
A U.S.-German citizen who failed to report his foreign accounts to the IRS told a Florida federal court that his $19 million punishment violates his right to a jury trial under a U.S. Supreme Court ruling that curbed the use of in-house agency courts to hand down stiff penalties.
Federal More
The Ninth Circuit backed Comerica's win in an investor dispute led by a pension fund accusing the bank of misleading investors about its oversight of a U.S. Department of the Treasury contract, concluding a Ca... (more story)
The owner of a renewable fuel company copped to a scheme that sought more than $6 million in fraudulent tax credits related to how much biodiesel the company claimed to produce, according to Florida federal court documents.
A U.S. Department of Defense logistics specialist pled not guilty Monday to federal charges accusing him of laundering millions as part of an alleged Nigeria-based fraud scheme that targeted victims in the United States.
The U.S. Department of Justice agreed to stop fighting a key U.S. Tax Court ruling that allowed pharmaceutical giant AbbVie to claim a $1.6 billion termination fee to an Irish biotechnology company as an ordin... (more story)
D.C. Circuit judges struggled Friday with whether to unblock a federal funding freeze carrying multitrillion-dollar implications, as a Trump administration lawyer disclaimed interest in a vast spending halt bu... (more story)
President Donald Trump signed an executive order Friday afternoon that threatens a 25% tariff on the imports entering the U.S. of countries found to be purchasing goods or services from Iran.
Another federal court has blocked a taxpayer address-sharing agreement between the IRS and U.S. Immigration and Customs Enforcement, finding they failed to follow a federal tax statute that allows limited info... (more story)
State & Local More
Ore. Proposal To Move Vote On $4.3B Transit Tax Draws Fire
Changing the date of a referendum on most of Oregon's $4.3 billion transportation funding plan would thwart the will of residents who have loudly called for that vote, a lineup of witnesses told a special legi... (more story)
Mich. Panel Presses Energy Co. In $8M Tax Sourcing Fight
Michigan Court of Appeals judges sounded inclined Friday to uphold a state tax tribunal decision that denied an energy wholesale company's $8 million income tax refund claim when ruling that electricity sales ... (more story)
Colo. Board Advances $3.6B High-Earner Tax Initiatives
Colorado would replace its flat income tax rate with a graduated system, giving a tax hike to high earners and cuts to most others in a plan that could raise up to $3.6 billion annually, under different propos... (more story)
A Decidedly Un-Federalist Thing To Do: SALT In Review
From a congressional effort to override the District of Columbia to a Michigan proposal aimed at cellphone use by youths, RSM's David Brunori offers his thoughts on noteworthy state and local tax news.
Ore. Panel Hears Bipartisan Bill To Hike Lodging Tax
Oregon would nearly double its statewide lodging tax rate, with the increased revenue dedicated to natural resource programs and compensation for ranchers affected by wolf predation, under bipartisan legislati... (more story)
Former Pa. Atty Gets 4 Years In Prison For Tax Evasion
A disbarred attorney who previously practiced in Pennsylvania has been sentenced by a federal judge to serve four years in prison and pay $3.5 million in restitution after pleading guilty to tax evasion.
Buchanan Ingersoll Adds 2 Veteran Tax Pros In DC
Buchanan Ingersoll & Rooney PC has expanded its tax offerings in the nation's capital with two attorneys, including the former co-chair of the tax and private wealth practice at Whiteford Taylor & Preston LLP.
Changing the date of a referendum on most of Oregon's $4.3 billion transportation funding plan would thwart the will of residents who have loudly called for that vote, a lineup of witnesses told a special legi... (more story)
Michigan Court of Appeals judges sounded inclined Friday to uphold a state tax tribunal decision that denied an energy wholesale company's $8 million income tax refund claim when ruling that electricity sales ... (more story)
Colorado would replace its flat income tax rate with a graduated system, giving a tax hike to high earners and cuts to most others in a plan that could raise up to $3.6 billion annually, under different propos... (more story)
From a congressional effort to override the District of Columbia to a Michigan proposal aimed at cellphone use by youths, RSM's David Brunori offers his thoughts on noteworthy state and local tax news.
Oregon would nearly double its statewide lodging tax rate, with the increased revenue dedicated to natural resource programs and compensation for ranchers affected by wolf predation, under bipartisan legislati... (more story)
A disbarred attorney who previously practiced in Pennsylvania has been sentenced by a federal judge to serve four years in prison and pay $3.5 million in restitution after pleading guilty to tax evasion.
Buchanan Ingersoll & Rooney PC has expanded its tax offerings in the nation's capital with two attorneys, including the former co-chair of the tax and private wealth practice at Whiteford Taylor & Preston LLP.
International More
€306M Money Laundering Network Sting Leads To 13 Arrests
Law enforcement agencies in the European Union have arrested more than a dozen people in several raids after an investigation into a €306 million ($364.5 million) international money laundering scheme with lin... (more story)
HMRC Nets £246M In Evasion-Focused Inheritance Tax Probes
Britain's tax authority has recovered an additional £246 million ($336 million) in inheritance tax secured by investigations, according to data released Sunday.
Partnership Asks Justices To Restore $23M Loss Deduction
A partnership asked the U.S. Supreme Court to revive its $23 million loss deduction involving a Brazilian company, saying in a petition docketed Friday that the Second Circuit wrongly blocked a key argument an... (more story)
Gov'ts Want Safeguards For Tax Data Swaps In UN Pact
The United Nations' framework convention on international tax cooperation must ensure that exchanges of taxpayer information take place only when the information is foreseeably relevant to the requesting gover... (more story)
Gunster Brings On Longtime Tax Law Professor In Florida
Florida business law firm Gunster has added an experienced tax law professor to its ranks as of counsel.
Taxation With Representation: Gibson Dunn, S&C, Wachtell
In this week's Taxation With Representation, Elon Musk announces SpaceX's acquisition of his artificial intelligence company xAI, Devon Energy and Coterra Energy agree to merge, and Banco Santander SA acquires... (more story)
UN Talks Aim To Identify Gaps On Harmful Tax Practices
Representatives of governments asked their colleagues Thursday to pinpoint gaps in ongoing efforts to address harmful tax practices in order to sharpen the United Nations' framework convention on international... (more story)
Law enforcement agencies in the European Union have arrested more than a dozen people in several raids after an investigation into a €306 million ($364.5 million) international money laundering scheme with lin... (more story)
Britain's tax authority has recovered an additional £246 million ($336 million) in inheritance tax secured by investigations, according to data released Sunday.
A partnership asked the U.S. Supreme Court to revive its $23 million loss deduction involving a Brazilian company, saying in a petition docketed Friday that the Second Circuit wrongly blocked a key argument an... (more story)
The United Nations' framework convention on international tax cooperation must ensure that exchanges of taxpayer information take place only when the information is foreseeably relevant to the requesting gover... (more story)
Florida business law firm Gunster has added an experienced tax law professor to its ranks as of counsel.
In this week's Taxation With Representation, Elon Musk announces SpaceX's acquisition of his artificial intelligence company xAI, Devon Energy and Coterra Energy agree to merge, and Banco Santander SA acquires... (more story)
Representatives of governments asked their colleagues Thursday to pinpoint gaps in ongoing efforts to address harmful tax practices in order to sharpen the United Nations' framework convention on international... (more story)