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Amgen Wants To Preserve Right To Seek Double Tax Relief
Drugmaker Amgen wants to preserve its right to seek a refund for tax years 2010 through 2015 if the IRS "persists" in taking a position inconsistent with the agency's own arguments pertaining to those years in its audit of 2016 to 2018, the company told the U.S. Tax Court.
Bloomberg Denied DC High-Tech Tax Break On Appeal
Bloomberg Inc. was correctly denied a tax break on income from a partnership in Washington, D.C., because the partnership's benefits as a high-tech company did not extend to its owners, the D.C. Court of Appeals said in a decision released Thursday.
Bolt Argues Ride-Hailing Apps Qualify For UK VAT Break
The U.K.'s tax authority can't bar ride-hailing companies from claiming a value-added tax exemption for travel agents, Bolt's counsel told a London court Wednesday, because the agency has long recognized in official guidance that taxi firms can receive the tax break.
Amgen Wants To Preserve Right To Seek Double Tax Relief
Drugmaker Amgen wants to preserve its right to seek a refund for tax years 2010 through 2015 if the IRS "persists" in taking a position inconsistent with the agency's own arguments pertaining to those years in its audit of 2016 to 2018, the company told the U.S. Tax Court.
Bloomberg Denied DC High-Tech Tax Break On Appeal
Bloomberg Inc. was correctly denied a tax break on income from a partnership in Washington, D.C., because the partnership's benefits as a high-tech company did not extend to its owners, the D.C. Court of Appeals said in a decision released Thursday.
Bolt Argues Ride-Hailing Apps Qualify For UK VAT Break
The U.K.'s tax authority can't bar ride-hailing companies from claiming a value-added tax exemption for travel agents, Bolt's counsel told a London court Wednesday, because the agency has long recognized in official guidance that taxi firms can receive the tax break.
Federal More
A Baltimore attorney is challenging a court's order that he cover unpaid federal income taxes owed by his client's holding company, telling the Fourth Circuit on Thursday that the government is wrongly using t... (more story)
The U.S. Tax Court properly applied what are commonly known as check-the-box rules in determining that a company contributing a promissory note for a stake in a partnership had zero basis in the note, the IRS ... (more story)
The U.S. Court of International Trade won't stay its ruling blocking the collection of temporary global duties for two businesses and the state of Washington while the federal government appeals the judgment t... (more story)
Every morning I let The New York Times humble me with word games, which offer a chance to recalibrate my brain before the day's chaos arrives and remind me that a solution — whether to a puzzle or employment l... (more story)
House Republicans touted results of tax provisions included in last year's budget bill during a House Ways and Means Committee hearing Wednesday, saying that almost 28 million Americans claimed the new tax ded... (more story)
Wholesale transmission customers of American Electric Power Co. Inc. units told the D.C. Circuit this week that the Federal Energy Regulatory Commission wrongly allowed the utility giant to depart from an esta... (more story)
The Parliament and Council of the European Union reached a provisional agreement Wednesday morning to strengthen safeguards to the trade deal reached last year with the U.S., according to a press release.
State & Local More
NC Voters To Weigh Income, Property Tax Limits
North Carolina voters will decide in November on two proposed constitutional amendments aimed at curbing their income and property taxes after the state General Assembly approved sending the measures to the ballot Wednesday.
Mass. Justices Say Tax Law Not Basis To Block Bog Sale
A Massachusetts law that lowers property tax rates on agricultural land does not grant standing to abutters seeking to unwind the sale of a Cape Cod cranberry bog to a developer, the state's highest court said Wednesday.
Va. Gov.'s Cannabis Bill Veto Keeps State In Legal Limbo
Virginia Gov. Abigail Spanberger's veto of legislation to tax and regulate the sale of adult-use cannabis will keep the commonwealth in a state of cannabis legal limbo for the foreseeable future.
Law School's Missed Lesson: Diagnose Before Arguing
Law school often skips over explicitly teaching students how to determine what kind of problem a case presents before they commit to a particular doctrinal path, which risks building arguments that are interna... (more story)
States Tell CIT To Reject Gov't's Request To Stay Tariff Ruling
The federal government's arguments to stay a permanent injunction against the collection of President Donald Trump's temporary global duties for two small businesses and the state of Washington while it appeal... (more story)
Amazon Keeps Tenn. Sales Tax Suit In Wash. Federal Court
A Tennessee shopper's proposed class action accusing Amazon of collecting excessive sales tax will remain in Washington federal court, a Seattle judge ruled Monday, concluding that the case's value "more likel... (more story)
Costco Calls Suit Over Tariff Refunds Premature
Costco urged an Illinois federal court to toss a putative consumer class action seeking to recoup the higher costs that shoppers paid under President Donald Trump's global tariffs, contending that the case is ... (more story)
North Carolina voters will decide in November on two proposed constitutional amendments aimed at curbing their income and property taxes after the state General Assembly approved sending the measures to the ballot Wednesday.
A Massachusetts law that lowers property tax rates on agricultural land does not grant standing to abutters seeking to unwind the sale of a Cape Cod cranberry bog to a developer, the state's highest court said Wednesday.
Virginia Gov. Abigail Spanberger's veto of legislation to tax and regulate the sale of adult-use cannabis will keep the commonwealth in a state of cannabis legal limbo for the foreseeable future.
Law school often skips over explicitly teaching students how to determine what kind of problem a case presents before they commit to a particular doctrinal path, which risks building arguments that are interna... (more story)
The federal government's arguments to stay a permanent injunction against the collection of President Donald Trump's temporary global duties for two small businesses and the state of Washington while it appeal... (more story)
A Tennessee shopper's proposed class action accusing Amazon of collecting excessive sales tax will remain in Washington federal court, a Seattle judge ruled Monday, concluding that the case's value "more likel... (more story)
Costco urged an Illinois federal court to toss a putative consumer class action seeking to recoup the higher costs that shoppers paid under President Donald Trump's global tariffs, contending that the case is ... (more story)
International More
Portugal Must Reclaim Illegal State Aid, EU Court Says
The European Union's top court said Thursday that Portugal can't suspend tax enforcement proceedings against a company that benefited from unlawful state aid granted by the Madeira Free Zone.
ECJ Adviser Backs Challenge To Sweden's Bank Risk Tax
The European Union's lower court was wrong to uphold Sweden's risk tax on the country's largest credit institutions, an adviser to the bloc's top court said Thursday, because the levy could create a potential ... (more story)
Gov't To Crack Down On Energy Giants' Offshore Tax Planning
U.K. Chancellor of the Exchequer Rachel Reeves announced plans Thursday to restrict offshore tax planning by energy multinationals as part of a series of fiscal measures, including cuts to fuel duty and value-added tax.
KC Used Expertise To Dodge £2M In Tax, Prosecutors Say
A senior tax barrister cheated the public purse out of almost £2 million ($2.7 million) through a series of "elaborate arrangements," a prosecutor said on the first day of the lawyer's criminal trial on Wednesday.
Maynard Nexsen Adds Transactional Tax Pro In NC
Maynard Nexsen PC announced that it has added a partner to the firm's tax practice group from Nelson Mullins Riley & Scarborough LLP, adding that the Charlotte, North Carolina, hire brings expertise in transac... (more story)
Ex-Austrian Bank CEO To Plead Out In $170M Odebrecht Case
The former CEO of Austrian lender Meinl Bank AG who was extradited from the U.K. has reached a tentative deal to resolve criminal charges that he helped Odebrecht SA hide $170 million in funds used to bribe of... (more story)
HMRC Wins Appeal In £56M Supplements Dispute
A supplements provider can rely only on expert evidence limited to the nutritional quality of the products in a £56 million ($75 million) value-added tax dispute with HM Revenue & Customs, a London tribunal sa... (more story)
The European Union's top court said Thursday that Portugal can't suspend tax enforcement proceedings against a company that benefited from unlawful state aid granted by the Madeira Free Zone.
The European Union's lower court was wrong to uphold Sweden's risk tax on the country's largest credit institutions, an adviser to the bloc's top court said Thursday, because the levy could create a potential ... (more story)
U.K. Chancellor of the Exchequer Rachel Reeves announced plans Thursday to restrict offshore tax planning by energy multinationals as part of a series of fiscal measures, including cuts to fuel duty and value-added tax.
A senior tax barrister cheated the public purse out of almost £2 million ($2.7 million) through a series of "elaborate arrangements," a prosecutor said on the first day of the lawyer's criminal trial on Wednesday.
Maynard Nexsen PC announced that it has added a partner to the firm's tax practice group from Nelson Mullins Riley & Scarborough LLP, adding that the Charlotte, North Carolina, hire brings expertise in transac... (more story)
The former CEO of Austrian lender Meinl Bank AG who was extradited from the U.K. has reached a tentative deal to resolve criminal charges that he helped Odebrecht SA hide $170 million in funds used to bribe of... (more story)
A supplements provider can rely only on expert evidence limited to the nutritional quality of the products in a £56 million ($75 million) value-added tax dispute with HM Revenue & Customs, a London tribunal sa... (more story)