House GOP Floats Framework For 2nd Tax, Reconciliation BIll
House Republicans laid out their blueprint Tuesday for a budget reconciliation bill this year that would address affordability, outlining goals of eliminating capital gains tax on home sales to first-time homebuyers and repealing the estate tax.
DeSantis Reiterates Call For Cutting Fla. Property Taxes
Florida Gov. Ron DeSantis again urged state lawmakers Tuesday to approve a ballot measure that would cut property taxes, citing a $24 billion increase in annual property tax revenue that local governments have brought in during his tenure.
IRS Asks 3rd Circ. To Uphold $100M Bill Against Hedge Fund
The Internal Revenue Service urged the Third Circuit to uphold a $100 million tax bill against a Cayman Islands hedge fund, arguing that the fund's U.S.-based investment manager carried out a domestic business beyond merely securing capital.
Federal More
The U.S. Supreme Court has declined to hear cigar maker Swisher International Inc.'s appeal in a long-running contractual and antitrust dispute with Trendsettah USA Inc., leaving intact a Ninth Circuit ruling ... (more story)
Day two of jury selection in Tom Goldstein's tax and mortgage fraud case wrapped without a jury being seated Tuesday, but did reveal that the government could call celebrities Tobey Maguire and Kevin Hart to the stand.
A North Carolina software executive convicted of failing to pay employment taxes has asked the Fourth Circuit to delay the start of his 366-day prison sentence while his appeal is pending before the court.
Officials from the Organization for Economic Cooperation and Development pushed back Tuesday against the idea that the U.S. had been carved out from the global minimum tax, saying the project remains robust.
Express Scripts is not entitled to a domestic production tax deduction for pharmacy management services delivered through its in-house software, the federal government told the Eighth Circuit, arguing the comp... (more story)
An executive order reviving cannabis rescheduling represents a monumental change for the industry and, while the substance will remain illegal at the federal level, introduces several benefits, including impro... (more story)
Internal Revenue Service documents show that a formerly married couple's refund claim was properly received, undermining the government's position that they improperly filed a refund claim for tax penalties of... (more story)
State & Local More
Iowa Gov. Pitches Property Tax Breaks In State Address
Iowa would bring down local property tax rates by putting into place a series of rate-reducing measures pitched by the governor in her State of the State address.
Mo. Gov. Seeks Voter Approval To End Income Tax
Missouri would overhaul its tax system by asking voters to approve a phaseout of the state income tax while also applying the sales tax to an array of services under a plan outlined Tuesday by the governor.
Mich. Court Presses Rehab Co. On Medical Items Tax Claim
A Michigan appeals court pressed a medical device provider Tuesday on its claim that the state's sales tax should not apply to certain medical items, such as gauze and bandages, because those items were prosth... (more story)
OFAC Sanctions Will Intensify Amid Global Tensions In 2026
The Office of Foreign Assets Control will ramp up its targeting of companies in the private equity, venture capital, real estate and legal markets in 2026, in keeping with the aggressive foreign policy approac... (more story)
5 E-Discovery Predictions For 2026 And Beyond
2026 will likely be shaped by issues ranging from artificial intelligence regulatory turbulence to potential evidence rule changes, and e-discovery professionals will need to understand how to effectively guid... (more story)
Md. Bill Would Allow Separate Land, Improvement Tax Rates
Maryland would authorize local governments to establish subclasses of real property consisting of land and improvements to land and impose separate tax rates for each subclass under legislation set to be consi... (more story)
High Court Declines To Hear Michigan Tax Foreclosure Case
The U.S. Supreme Court declined Monday to hear a property owner's case alleging that a Michigan county improperly kept the excess proceeds of her tax-foreclosed home sale.
Iowa would bring down local property tax rates by putting into place a series of rate-reducing measures pitched by the governor in her State of the State address.
Missouri would overhaul its tax system by asking voters to approve a phaseout of the state income tax while also applying the sales tax to an array of services under a plan outlined Tuesday by the governor.
A Michigan appeals court pressed a medical device provider Tuesday on its claim that the state's sales tax should not apply to certain medical items, such as gauze and bandages, because those items were prosth... (more story)
The Office of Foreign Assets Control will ramp up its targeting of companies in the private equity, venture capital, real estate and legal markets in 2026, in keeping with the aggressive foreign policy approac... (more story)
2026 will likely be shaped by issues ranging from artificial intelligence regulatory turbulence to potential evidence rule changes, and e-discovery professionals will need to understand how to effectively guid... (more story)
Maryland would authorize local governments to establish subclasses of real property consisting of land and improvements to land and impose separate tax rates for each subclass under legislation set to be consi... (more story)
The U.S. Supreme Court declined Monday to hear a property owner's case alleging that a Michigan county improperly kept the excess proceeds of her tax-foreclosed home sale.
International More
2026 Enforcement Trends To Expect In Maritime And Int'l Trade
The maritime and international trade community should expect U.S. federal enforcement to ramp up in 2026, particularly via Office of Foreign Asset Control shipping sanctions, accelerating interagency investiga... (more story)
Trump Says 25% Tariff Incoming For Iranian Biz Dealings
Any country with economic ties to Iran could face a 25% tariff immediately on their goods exported to the U.S., President Donald Trump said Monday on social media.
Solar Co. Blames Broker's Error For $6M Tariff Bill
A renewable energy company wants its customs broker and agent held responsible for over $6 million in antidumping and countervailing duties it had to pay on imported solar panels due to the broker's alleged fa... (more story)
India High Court Rules Post-Merger Shares Can Be Taxed
The Supreme Court of India ruled that if companies combine to create a new business with shares that are worth more than those of the individual corporations, investors may owe taxes on the difference in value.
Judges On AI: How Courts Can Boost Access To Justice
Arizona Court of Appeals Judge Samuel A. Thumma writes that generative artificial intelligence tools offer a profound opportunity to enhance access to justice and engender public confidence in courts’ use of t... (more story)
The Case For Emulating, Not Dividing, The Ninth Circuit
Champions for improved judicial administration should reject the unfounded criticisms driving recent Senate proposals to divide the Ninth Circuit and instead seek to replicate the court's unique strengths and ... (more story)
EU Council Approves Trade Pact With 4 S. American Countries
A legislative arm of the European Union approved the bloc's free trade agreement with four South American countries Friday, taking steps to create the largest global free trade zone.
The maritime and international trade community should expect U.S. federal enforcement to ramp up in 2026, particularly via Office of Foreign Asset Control shipping sanctions, accelerating interagency investiga... (more story)
Any country with economic ties to Iran could face a 25% tariff immediately on their goods exported to the U.S., President Donald Trump said Monday on social media.
A renewable energy company wants its customs broker and agent held responsible for over $6 million in antidumping and countervailing duties it had to pay on imported solar panels due to the broker's alleged fa... (more story)
The Supreme Court of India ruled that if companies combine to create a new business with shares that are worth more than those of the individual corporations, investors may owe taxes on the difference in value.
Arizona Court of Appeals Judge Samuel A. Thumma writes that generative artificial intelligence tools offer a profound opportunity to enhance access to justice and engender public confidence in courts’ use of t... (more story)
Champions for improved judicial administration should reject the unfounded criticisms driving recent Senate proposals to divide the Ninth Circuit and instead seek to replicate the court's unique strengths and ... (more story)
A legislative arm of the European Union approved the bloc's free trade agreement with four South American countries Friday, taking steps to create the largest global free trade zone.