The Tax Angle: TCJA Debate, S Corp. Compliance
From a look at congressional lawmakers ramping up their debate over the expiration of the GOP's 2017 tax overhaul law to the IRS' plans to provide more oversight for pass-through businesses and S corporations, here's a peek into a reporter's notebook on a few of the week's developing tax stories.
Poor Counsel Led To Unjust Tax Convictions, Justices Told
A North Carolina actuary asked the U.S. Supreme Court to review a Fourth Circuit decision denying his bid to reverse his 2016 tax fraud convictions, saying the ruling was based on bad decisions made by his then-trial counsel.
NY AI Regulation Bill May Impede Tax Dept. Operations
A pending New York bill that would create a first-in-the-nation oversight system for artificial intelligence usage in state agencies could present challenges for the state's tax department, which has long employed automated operations to flag suspicious returns and weed out fraud.
The Tax Angle: TCJA Debate, S Corp. Compliance
From a look at congressional lawmakers ramping up their debate over the expiration of the GOP's 2017 tax overhaul law to the IRS' plans to provide more oversight for pass-through businesses and S corporations, here's a peek into a reporter's notebook on a few of the week's developing tax stories.
Poor Counsel Led To Unjust Tax Convictions, Justices Told
A North Carolina actuary asked the U.S. Supreme Court to review a Fourth Circuit decision denying his bid to reverse his 2016 tax fraud convictions, saying the ruling was based on bad decisions made by his then-trial counsel.
NY AI Regulation Bill May Impede Tax Dept. Operations
A pending New York bill that would create a first-in-the-nation oversight system for artificial intelligence usage in state agencies could present challenges for the state's tax department, which has long employed automated operations to flag suspicious returns and weed out fraud.
Federal More
A former New Jersey businessman was sentenced to more than six years in prison and ordered to pay roughly $10.3 million in restitution to the Internal Revenue Service after being convicted of evading taxes usi... (more story)
A leading industry group representing hedge funds and other alternative asset managers is urging President-elect Donald Trump to abandon "punitive" economic policies and instead propose tax and regulatory reli... (more story)
A Florida healthcare business owner who caused a tax loss to the IRS of nearly $11 million pled guilty in a Miami federal court to failing to pay employment taxes and not filing his income tax returns, the U.S... (more story)
In this week's Taxation With Representation, Cardinal Health takes a majority stake in GI Alliance and acquires Advanced Diabetes Supply Group, Just Eat offloads Grubhub to Wonder Group, Rivian Automotive and ... (more story)
As the legislative and oversight agendas of the 119th Congress come into sharper focus, corporate counsel should assess and plan for areas of potential oversight risk — from tax policy changes to supply chain ... (more story)
A federal magistrate judge recommended jettisoning any interest of JPMorgan Chase Bank NA in a California home the government wants to sell to recover $1.7 million in taxes, saying the bank, as a loan holder, ... (more story)
Two companies that help clients obtain pandemic-era employee retention tax credits asked an Arizona federal court to stop the Internal Revenue Service from issuing what they claim are batch denials based on fa... (more story)
State & Local More
States, Taxes And Scorecards: SALT In Review
From the latest noteworthy rankings of the states' business tax regimes to results of ballot measures across the country, RSM's David Brunori offers his thoughts on noteworthy state and local tax news.
Detroit 'Rain Tax' Stormwater Fees Upheld By Appellate Court
Fees that Detroit charges property owners to maintain its stormwater drainage system are not illegal taxes, a Michigan Court of Appeals panel held, finding that although the charges are effectively compulsory,... (more story)
Louisiana House Passes Part Of Sales Tax Overhaul
A proposal to ax dozens of sales and use tax exemptions and eliminate a planned reduction to Louisiana's 4.45% sales tax next year passed the state House of Representatives, moving forward elements of the gove... (more story)
Defense Attys Urge Justices To Narrow False Statement Law
The National Association of Criminal Defense Lawyers is supporting ex-Burke Warren MacKay & Serritella PC attorney and former Chicago alderman Patrick Thompson's bid to convince the U.S. Supreme Court to overt... (more story)
Albright Moves Apple Foes' Patent Suit To California
Waco's U.S. District Judge Alan Albright has decided to send a patent lawsuit lodged in his court against Apple to the tech giant's home of California, calling the "minimal local interest" provided by local ta... (more story)
Amazon Tells SC Justices No Sales Tax Owed Pre-Wayfair
South Carolina's highest court should overturn an appeals court's opinion that Amazon was required prior to the landmark Wayfair decision to collect and remit sales tax on products sold on its marketplace in 2... (more story)
HCA Healthcare, Fla. Dept. Reach Deal On $13.8M Tax Bill
HCA Healthcare Inc. and the Florida Department of Revenue have settled the company's claims that some of HCA's nonbusiness income was incorrectly classified as business income and a federal credit was not appl... (more story)
So You Want To Move Your Law Practice To Canada, Eh?
Google searches for how to move to Canada have surged in the wake of the U.S. presidential election, and if you’re an attorney considering a move to the Great White North, you’ll need to understand how the pra... (more story)
Boston Says Celebrity Chef Owes $1.6M In Taxes
The city of Boston is taking celebrity chef Barbara Lynch to court, alleging that for more than a decade she has failed to pay over $1.6 million in personal property taxes for her group of restaurants, which s... (more story)
From the latest noteworthy rankings of the states' business tax regimes to results of ballot measures across the country, RSM's David Brunori offers his thoughts on noteworthy state and local tax news.
Fees that Detroit charges property owners to maintain its stormwater drainage system are not illegal taxes, a Michigan Court of Appeals panel held, finding that although the charges are effectively compulsory,... (more story)
A proposal to ax dozens of sales and use tax exemptions and eliminate a planned reduction to Louisiana's 4.45% sales tax next year passed the state House of Representatives, moving forward elements of the gove... (more story)
The National Association of Criminal Defense Lawyers is supporting ex-Burke Warren MacKay & Serritella PC attorney and former Chicago alderman Patrick Thompson's bid to convince the U.S. Supreme Court to overt... (more story)
Waco's U.S. District Judge Alan Albright has decided to send a patent lawsuit lodged in his court against Apple to the tech giant's home of California, calling the "minimal local interest" provided by local ta... (more story)
South Carolina's highest court should overturn an appeals court's opinion that Amazon was required prior to the landmark Wayfair decision to collect and remit sales tax on products sold on its marketplace in 2... (more story)
HCA Healthcare Inc. and the Florida Department of Revenue have settled the company's claims that some of HCA's nonbusiness income was incorrectly classified as business income and a federal credit was not appl... (more story)
Google searches for how to move to Canada have surged in the wake of the U.S. presidential election, and if you’re an attorney considering a move to the Great White North, you’ll need to understand how the pra... (more story)
The city of Boston is taking celebrity chef Barbara Lynch to court, alleging that for more than a decade she has failed to pay over $1.6 million in personal property taxes for her group of restaurants, which s... (more story)
International More
Widow Owes $613K After Mexican Tax Dodge, US Tells Court
The widow of a Texas man faces $613,000 in penalties that her husband incurred by failing to report his foreign bank accounts, the U.S. told a federal court, arguing that she participated in a Mexican real est... (more story)
IRS Asks Court To Toss Woman's Inheritance Tax Penalty Suit
A woman who missed the deadline for reporting that she received a $350,000 inheritance isn't allowed to sue the IRS for acting arbitrarily in charging her a late penalty because other remedies to her complaint... (more story)
Australia Bill Seeks To Expand Rules On Reporting Ownership
Australia's government wants to fight tax avoidance by making owners of equity derivatives disclose significant owners to regulators and investors, expanding access to that information and giving securities re... (more story)
European Police Detain 43 Suspects In €520M VAT Fraud
European police detained 43 suspects linked to a value-added tax fraud scam valued at €520 million ($550 million) in a cross-border operation against organized crime, law enforcement agencies said Thursday.
$545K FBAR Fine Is Unconstitutional, Ex-Professor Tells Court
An 86-year-old former college professor's penalty of $545,000 for failing to report foreign bank accounts is excessive and violates the Eighth Amendment, he told a California federal court.
UK Court Revives $14M Share Of Tax Case Vs. Booze Shipper
The British First-tier Tribunal incorrectly dismissed evidence supporting a more than £11.1 million ($14.1 million) penalty assessment against a businessman accused of alcohol smuggling but was correct to dism... (more story)
UK Insurance Co. Entitled To Refund Of Dutch Dividend Tax
A U.K. insurance company is entitled to a refund of taxes levied by the Netherlands on dividends from Dutch companies because the tax restricts the free movement of capital, the Court of Justice of the European Union ruled.
The widow of a Texas man faces $613,000 in penalties that her husband incurred by failing to report his foreign bank accounts, the U.S. told a federal court, arguing that she participated in a Mexican real est... (more story)
A woman who missed the deadline for reporting that she received a $350,000 inheritance isn't allowed to sue the IRS for acting arbitrarily in charging her a late penalty because other remedies to her complaint... (more story)
Australia's government wants to fight tax avoidance by making owners of equity derivatives disclose significant owners to regulators and investors, expanding access to that information and giving securities re... (more story)
European police detained 43 suspects linked to a value-added tax fraud scam valued at €520 million ($550 million) in a cross-border operation against organized crime, law enforcement agencies said Thursday.
An 86-year-old former college professor's penalty of $545,000 for failing to report foreign bank accounts is excessive and violates the Eighth Amendment, he told a California federal court.
The British First-tier Tribunal incorrectly dismissed evidence supporting a more than £11.1 million ($14.1 million) penalty assessment against a businessman accused of alcohol smuggling but was correct to dism... (more story)
A U.K. insurance company is entitled to a refund of taxes levied by the Netherlands on dividends from Dutch companies because the tax restricts the free movement of capital, the Court of Justice of the European Union ruled.