Federal Tax Policies To Watch This Spring
As Congress returns to Washington, D.C., after a two-week Easter break, there are several areas where lawmakers might devote their attention, including legislation that would overhaul tax administration and tax proposals that could be included in budget reconciliation.
Mich. Unclaimed Property Ruling Could Prolong Disputes
A Michigan Court of Appeals ruling that said the state's issuance of audit determinations creates new obligations for businesses to remit unclaimed property appears to have left unanswered several key questions about when the state's enforcement authority expires.
IRS Floats Excise Tax Regs On Overseas Money Transfers
Individuals who send funds to people abroad via a remittance transfer provider using cash, money orders, cashier's checks, traveler's checks and similar financial instruments would trigger a new 1% excise tax on the total amount remitted under proposed regulations the IRS unveiled Friday.
Federal Tax Policies To Watch This Spring
As Congress returns to Washington, D.C., after a two-week Easter break, there are several areas where lawmakers might devote their attention, including legislation that would overhaul tax administration and tax proposals that could be included in budget reconciliation.
Mich. Unclaimed Property Ruling Could Prolong Disputes
A Michigan Court of Appeals ruling that said the state's issuance of audit determinations creates new obligations for businesses to remit unclaimed property appears to have left unanswered several key questions about when the state's enforcement authority expires.
IRS Floats Excise Tax Regs On Overseas Money Transfers
Individuals who send funds to people abroad via a remittance transfer provider using cash, money orders, cashier's checks, traveler's checks and similar financial instruments would trigger a new 1% excise tax on the total amount remitted under proposed regulations the IRS unveiled Friday.
Federal More
A Georgia federal judge won't allow a conservation easement entity to litigate tort claims against its insurer while they arbitrate a dispute over coverage for an IRS settlement, ruling that those claims could... (more story)
A social media finance influencer who pled guilty to wire fraud and abetting a false tax filing tied to a $20 million real estate Ponzi scheme was sentenced Friday to six years in prison by an Ohio federal judge.
An Ohio couple and their Minnesota corporation are disputing combined tax deficiencies of $3.9 million, most of it related to the Internal Revenue Service's determination that they lacked basis in S corporatio... (more story)
The first phase of an electronic system allowing U.S. importers to claim refunds for tariffs paid under the global regime struck down by the U.S. Supreme Court will launch April 20, U.S. Customs and Border Pro... (more story)
To calculate damages in the spate of refund litigation triggered by the U.S. Supreme Court's recent decision invalidating tariffs collected under the International Emergency Economic Powers Act, the central qu... (more story)
The Internal Revenue Service released the final regulations Friday listing dozens of occupations that qualify for the no-tax-on-tips provision passed last summer, clarifying what counts as a tip and who can ta... (more story)
In this week's Taxation With Representation, Gilead Sciences Inc. acquires clinical-stage biotechnology company Tubulis GmbH, private equity firm Court Square Capital Partners closes a multibillion-dollar fund... (more story)
State & Local More
American Airlines Wins Fight With Texas Over Franchise Tax
The Texas comptroller's office wrongly levied franchise tax on American Airlines' baggage fee revenue, a state appeals court ruled, upholding a refund for the airline after finding a federal law barred how the... (more story)
Drug Co. Drops Challenge To La. Remote Seller Tax Rules
A pharmaceutical distribution company has dropped its claims that Louisiana's decentralized sales tax system imposes unconstitutional burdens on remote sellers, according to orders the state Board of Tax Appea... (more story)
Alpine Skiing Makes Me A Better Lawyer
Skiing has shaped habits I rely on daily as an attorney — focus, resilience and the ability to remain steady when circumstances shift rapidly — and influences the way I approach legal strategy, client counseli... (more story)
Trump Asks NY's Top Court To Toss AG's 'Flawed' Fraud Case
President Donald Trump on Wednesday asked New York's highest court to throw out New York Attorney General Letitia James' "deeply flawed" civil fraud judgment entirely after a lower appellate court tossed what ... (more story)
Mo. Senate Panel Advances Income Tax Phaseout Proposal
A proposed constitutional amendment in Missouri that would phase out the state's personal income tax in exchange for a broader sales tax base was advanced by a state Senate committee after the panel altered so... (more story)
NY Tax Talk: Calculating Tiered Partnership Income
Attorneys at Eversheds Sutherland discuss how the potential impact recent New York City Tax Appeals Tribunal decision in Matter of Cantor Fitzgerald holding that the entity approach should be used by tiered pa... (more story)
AT&T Owes Mo. Local Tax On Some Services, Panel Finds
AT&T was obligated to pay gross receipts tax on its prepaid wireless services, but not on receipts from other sales, under the terms of a class action settlement agreement with Missouri cities, a state appeals... (more story)
The Texas comptroller's office wrongly levied franchise tax on American Airlines' baggage fee revenue, a state appeals court ruled, upholding a refund for the airline after finding a federal law barred how the... (more story)
A pharmaceutical distribution company has dropped its claims that Louisiana's decentralized sales tax system imposes unconstitutional burdens on remote sellers, according to orders the state Board of Tax Appea... (more story)
Skiing has shaped habits I rely on daily as an attorney — focus, resilience and the ability to remain steady when circumstances shift rapidly — and influences the way I approach legal strategy, client counseli... (more story)
President Donald Trump on Wednesday asked New York's highest court to throw out New York Attorney General Letitia James' "deeply flawed" civil fraud judgment entirely after a lower appellate court tossed what ... (more story)
A proposed constitutional amendment in Missouri that would phase out the state's personal income tax in exchange for a broader sales tax base was advanced by a state Senate committee after the panel altered so... (more story)
Attorneys at Eversheds Sutherland discuss how the potential impact recent New York City Tax Appeals Tribunal decision in Matter of Cantor Fitzgerald holding that the entity approach should be used by tiered pa... (more story)
AT&T was obligated to pay gross receipts tax on its prepaid wireless services, but not on receipts from other sales, under the terms of a class action settlement agreement with Missouri cities, a state appeals... (more story)
International More
EU Probing Czech Cos. Over Suspected €113M VAT Evasion
Authorities in Slovakia have conducted searches connected to an investigation of Czech companies suspected of evading €113.3 million ($133 million) in value-added taxes, the European Public Prosecutor's Office said Friday.
'Zombie Appeal' Of Moot Case Tossed By Canada Tax Court
A Canadian company can't bring a "zombie appeal" of a resolved dispute with revenue authorities to seek a judicial interpretation of regulations that could affect a business conflict with its insurer, the Tax ... (more story)
US Biz Group Presses EU To Curtail Pillar 2 Clashes
A group representing U.S. business interests in the European Union called on bloc lawmakers to reduce overlaps between EU tax policy and the global minimum tax initiative from the Organization for Economic Coo... (more story)
Rivera's Ex-Partner Kept Cut Of $50M Venezuela Contract
Real estate developer and convicted drug trafficker Hugo Perera told jurors Thursday he regretted "1,000%" getting involved with former U.S. Rep. David Rivera in a $50 million contract with a unit of Venezuela... (more story)
Trade Court Shifts Tariff Refund Proceedings To New Suit
The underlying U.S. Court of International Trade suit serving as the core of the government's development of a refund system for the now-invalidated International Emergency Economic Powers Act tariffs has chan... (more story)
UK Drafts Carbon Border Tax Rules To Match EU System
The U.K. tax authority released draft regulations on the country's carbon border tax regime Thursday that would broadly align it with the European Union's system for taxing carbon-intensive imports.
Insurance Body Calls For Changes To EU Tax Reform Plans
Insurance Europe has urged European Union lawmakers to give workplace pension institutions that are regulated as insurers the same fast-track dividend tax relief as other pension providers in tax reforms which are pending.
Authorities in Slovakia have conducted searches connected to an investigation of Czech companies suspected of evading €113.3 million ($133 million) in value-added taxes, the European Public Prosecutor's Office said Friday.
A Canadian company can't bring a "zombie appeal" of a resolved dispute with revenue authorities to seek a judicial interpretation of regulations that could affect a business conflict with its insurer, the Tax ... (more story)
A group representing U.S. business interests in the European Union called on bloc lawmakers to reduce overlaps between EU tax policy and the global minimum tax initiative from the Organization for Economic Coo... (more story)
Real estate developer and convicted drug trafficker Hugo Perera told jurors Thursday he regretted "1,000%" getting involved with former U.S. Rep. David Rivera in a $50 million contract with a unit of Venezuela... (more story)
The underlying U.S. Court of International Trade suit serving as the core of the government's development of a refund system for the now-invalidated International Emergency Economic Powers Act tariffs has chan... (more story)
The U.K. tax authority released draft regulations on the country's carbon border tax regime Thursday that would broadly align it with the European Union's system for taxing carbon-intensive imports.
Insurance Europe has urged European Union lawmakers to give workplace pension institutions that are regulated as insurers the same fast-track dividend tax relief as other pension providers in tax reforms which are pending.