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World Cup Tax Plan Posed Huge Challenges, NJ Official Says
A proposal to temporarily increase New Jersey's sales tax rate and impose surcharges on a variety of other services during the FIFA World Cup would have presented the state's tax agency with tremendous challenges, the director of the state's division of taxation said Monday.
DC Judge Undoes IRS Wind, Solar Tax Credit Limitations
A D.C. federal judge has vacated an Internal Revenue Service notice limiting how wind and large-scale solar projects can qualify for two Biden-era clean energy tax credits, finding the Trump administration didn't sufficiently consider reliance interests and explain its rationale for the change.
Barclays Loses VAT Appeal Over UK Fixed Establishment
A Barclays entity lacked a fixed establishment in the U.K. because its British branch was "skeletal" when the Delaware-based company applied for value-added tax grouping, a London tribunal ruled Monday.
World Cup Tax Plan Posed Huge Challenges, NJ Official Says
A proposal to temporarily increase New Jersey's sales tax rate and impose surcharges on a variety of other services during the FIFA World Cup would have presented the state's tax agency with tremendous challenges, the director of the state's division of taxation said Monday.
DC Judge Undoes IRS Wind, Solar Tax Credit Limitations
A D.C. federal judge has vacated an Internal Revenue Service notice limiting how wind and large-scale solar projects can qualify for two Biden-era clean energy tax credits, finding the Trump administration didn't sufficiently consider reliance interests and explain its rationale for the change.
Barclays Loses VAT Appeal Over UK Fixed Establishment
A Barclays entity lacked a fixed establishment in the U.K. because its British branch was "skeletal" when the Delaware-based company applied for value-added tax grouping, a London tribunal ruled Monday.
Federal More
A handful of recent federal and state cases demonstrate the importance of checking for errors generated by artificial intelligence not only in your own court submissions, but also your opponent's, as well as w... (more story)
A Colorado federal jury convicted four individuals Monday of conspiring to defraud the government by using their businesses to help promote and sell abusive and illegal trust tax shelters, leading to about $50... (more story)
The data sharing agreement between the IRS and U.S. Immigration and Customs Enforcement did not meet requirements to ensure the confidentiality and integrity of federal taxpayer data, the Treasury Inspector Ge... (more story)
President Donald Trump on Monday officially nominated Todd Blanche to be attorney general.
The Internal Revenue Service properly denied an estate's attempt to reduce the value of assets moved to a partnership, the Fifth Circuit ruled Monday, rejecting arguments that the $17 million transfer was driv... (more story)
A Maryland federal judge has agreed to push SCOTUSblog founder Thomas Goldstein's sentencing to July, after federal prosecutors speculated that his defense attorneys might come to the previously scheduled June... (more story)
The IRS overvalued works in the estate of artist Carmen Herrera by $9 million, the estate told the U.S. Tax Court, saying the agency erred in basing its estimation of her later work on the sales of her earlier... (more story)
State & Local More
Mo. Justices Won't Revisit Redo Of Sales Tax Ballot Measure
The Missouri appellate court's rewriting of a ballot measure's language for a proposed constitutional amendment that would phase out Missouri's income tax will remain, as the state Supreme Court declined Monda... (more story)
Energy Transactions Atty Returns To McGuireWoods In SF
A senior vice president with Aon's global mergers and acquisitions and transactions solutions team has rejoined McGuireWoods LLP as a partner in San Francisco, the firm announced Monday.
Philly Mayor's Hotel, Ride-Share Taxes Nixed By Council
Philadelphia would not increase its tax on hotel stays in the city, impose a tax on ride-sharing or impose a tax on retail deliveries in the city in a draft 2027 budget passed by the City Council without the m... (more story)
Neb. Justices Say MLB Can't Protest $2.5M Tax Recapture
The Nebraska Supreme Court ruled Friday that a division of Major League Baseball can't protest the state tax agency's denial of its tax incentive transfer to a third party for a data center project and the rec... (more story)
Taxation With Representation: Simpson Thacher, Fried Frank
In this week's Taxation With Representation, Berkshire Hathaway Inc. takes Taylor Morrison Home Corp. private, global real estate investment company Kennedy Wilson forms a residential joint venture with Nether... (more story)
State Tax Pros Say Federal Coupling Is No Longer Routine
States' decisions of whether to conform their tax codes to the federal code, at one time a matter of routine, have become increasingly complex, state tax professionals said Thursday.
Feds Appeal Trade Court's Emergency Tariff Refund Order
The federal government has appealed the U.S. Court of International Trade's order requiring refunds on all duties paid under the International Emergency Economic Powers Act after the U.S. Supreme Court struck ... (more story)
The Missouri appellate court's rewriting of a ballot measure's language for a proposed constitutional amendment that would phase out Missouri's income tax will remain, as the state Supreme Court declined Monda... (more story)
A senior vice president with Aon's global mergers and acquisitions and transactions solutions team has rejoined McGuireWoods LLP as a partner in San Francisco, the firm announced Monday.
Philadelphia would not increase its tax on hotel stays in the city, impose a tax on ride-sharing or impose a tax on retail deliveries in the city in a draft 2027 budget passed by the City Council without the m... (more story)
The Nebraska Supreme Court ruled Friday that a division of Major League Baseball can't protest the state tax agency's denial of its tax incentive transfer to a third party for a data center project and the rec... (more story)
In this week's Taxation With Representation, Berkshire Hathaway Inc. takes Taylor Morrison Home Corp. private, global real estate investment company Kennedy Wilson forms a residential joint venture with Nether... (more story)
States' decisions of whether to conform their tax codes to the federal code, at one time a matter of routine, have become increasingly complex, state tax professionals said Thursday.
The federal government has appealed the U.S. Court of International Trade's order requiring refunds on all duties paid under the International Emergency Economic Powers Act after the U.S. Supreme Court struck ... (more story)
International More
1.4M People Taken To Court Over UK Council Tax, Report Says
Local authorities in Britain sent court summonses to more than 1.4 million people over unpaid council tax debt in the financial year 2024-25, according to a report published Tuesday by a British labor union.
Liberty Global Seeks Rehearing In $2.4B Tax Substance Fight
Telecommunications firm Liberty Global wants another shot at showing the Tenth Circuit that it's entitled to a $2.4 billion deduction linked to transactions with foreign affiliates, claiming the court misappli... (more story)
McKesson Can't Defeat Valid Cost-Sharing Rules, Gov't Says
The U.S. government urged a Texas federal court to uphold transfer pricing regulations that pharmaceutical giant McKesson is challenging in its push for a nearly $10 million tax refund, arguing the rules fall ... (more story)
Inheritance Tax Penalties Surge By 35%, Data Shows
Britain's tax authority imposed 35% more penalties for late inheritance tax returns in tax year 2024-25 compared with 2020-21, according to government data released by a law firm Saturday.
11th Circ. Lets Man Fight $2.2M FBAR Penalties As Excessive
A Georgia federal court correctly found that the owner of a sports equipment business willfully failed to disclose his foreign bank accounts, but it must give him a chance to challenge $2.2 million in resultin... (more story)
Abbott Says Timing Mismatch Lets $8B Gain Go Untaxed
Abbott Laboratories asked the U.S. Tax Court to find that it needn't recognize an $8 billion gain in 2020 from transactions between several of its controlled foreign corporations because of a mismatch in the e... (more story)
HMRC's Reading Would Double-Tax £10M, Upper Tribunal Told
Shareholders of a holding company argued before the Upper Tribunal on Friday that HM Revenue & Customs misinterpreted tax legislation, risking the same £10 million ($13.4 million) in payouts being taxed twice ... (more story)
Local authorities in Britain sent court summonses to more than 1.4 million people over unpaid council tax debt in the financial year 2024-25, according to a report published Tuesday by a British labor union.
Telecommunications firm Liberty Global wants another shot at showing the Tenth Circuit that it's entitled to a $2.4 billion deduction linked to transactions with foreign affiliates, claiming the court misappli... (more story)
The U.S. government urged a Texas federal court to uphold transfer pricing regulations that pharmaceutical giant McKesson is challenging in its push for a nearly $10 million tax refund, arguing the rules fall ... (more story)
Britain's tax authority imposed 35% more penalties for late inheritance tax returns in tax year 2024-25 compared with 2020-21, according to government data released by a law firm Saturday.
A Georgia federal court correctly found that the owner of a sports equipment business willfully failed to disclose his foreign bank accounts, but it must give him a chance to challenge $2.2 million in resultin... (more story)
Abbott Laboratories asked the U.S. Tax Court to find that it needn't recognize an $8 billion gain in 2020 from transactions between several of its controlled foreign corporations because of a mismatch in the e... (more story)
Shareholders of a holding company argued before the Upper Tribunal on Friday that HM Revenue & Customs misinterpreted tax legislation, risking the same £10 million ($13.4 million) in payouts being taxed twice ... (more story)