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Keysight Invalidates IRS Rule On GILTI, Abbott Says
A 2019 rule on the calculation of global intangible low-taxed income that the IRS relied on to allocate $8 million to Abbott Laboratories in 2020 is invalid, the company said, citing a recent ruling by the U.S. Court of Federal Claims.
Md. Justices Remand Utility's $2.4M Sales Tax Refund Ruling
Equipment purchased by a Maryland utility was exempt from sales tax, the state Supreme Court ruled Friday while remanding the case for the lower court to consider the timeliness of the company's refund request that led to a tax court judgment of $2.4 million plus interest.
EU Countries Split On Pillar 2 Multinationals' Reporting Breaks
European Union countries are deeply divided on proposals from the European Commission to exempt Pillar 2 companies from certain rules that aim to prevent tax abuse, EU officials told Law360.
Keysight Invalidates IRS Rule On GILTI, Abbott Says
A 2019 rule on the calculation of global intangible low-taxed income that the IRS relied on to allocate $8 million to Abbott Laboratories in 2020 is invalid, the company said, citing a recent ruling by the U.S. Court of Federal Claims.
Md. Justices Remand Utility's $2.4M Sales Tax Refund Ruling
Equipment purchased by a Maryland utility was exempt from sales tax, the state Supreme Court ruled Friday while remanding the case for the lower court to consider the timeliness of the company's refund request that led to a tax court judgment of $2.4 million plus interest.
EU Countries Split On Pillar 2 Multinationals' Reporting Breaks
European Union countries are deeply divided on proposals from the European Commission to exempt Pillar 2 companies from certain rules that aim to prevent tax abuse, EU officials told Law360.
Federal More
The Pension Benefit Guaranty Corp. proposed a rule Monday on monetary penalties for failures to provide information on single-employer and multiemployer benefit plans that clarifies how plan sponsors can lower... (more story)
The U.S. Court of International Trade has selected a new underlying case as the one to test the federal government's updates on its system for refunding duties charged under President Donald Trump's struck-dow... (more story)
A commercial real estate owner who was convicted of tax evasion for concealing roughly $4.8 million in income from the IRS was sentenced to nearly two years in prison by a Washington federal judge.
The D.C. Circuit has upheld the maximum prison sentence handed down in the case of an IRS contractor who pled guilty to leaking President Donald Trump's tax returns, along with thousands of others, ruling Frid... (more story)
An energy company that the U.S. Tax Court allowed to give up the normal carryback period for its net operating losses without waiving the 10-year period for specified liability losses wants the court to amend ... (more story)
In this week's Taxation With Representation, Uber Technologies Inc. buys food delivery company Delivery Hero SE, engineering group ABB Ltd. acquires flow technology company Rotork PLC, and Eli Lilly and Co. bu... (more story)
Online tax return filers who alleged Google's tracking tool effectively eavesdropped on their confidential tax information asked a California federal judge to certify several classes in their suit against the search giant.
State & Local More
Conn. Justices Bar Town From Killing Errant Forest Tax Break
A Connecticut municipal assessor did not have the authority to terminate a property tax break for forest use that was erroneously granted, the state Supreme Court said Friday, suggesting that state lawmakers c... (more story)
Wash. Income Tax Challenge Qualifies For Ballot
A Washington state initiative that would bar taxation of individual income and, in turn, repeal a recently approved high-earner tax has received enough signatures to appear on the November 2026 ballot, the sec... (more story)
Skill Games, Grinch Bots: A Midyear Pa. Legislation Review
Two major rulings from the Pennsylvania Supreme Court have left it up to the Legislature to address "skill games" and second-degree murder sentences, while other pending bills would tackle a long-standing chal... (more story)
Ashurst Perkins Adds Tax Pro In LA From Stradling Yocca
Ashurst Perkins Coie announced Thursday that it has bolstered its tax practice with a Los Angeles-based partner who came aboard from Stradling Yocca Carlson & Rauth PC.
Being A Magician Makes Me A Better Lawyer
The skills I've developed as a lifelong magician have translated directly into tangible benefits in the courtroom because performing magic and trying cases both live at the intersection of psychology, storytel... (more story)
Circuit-By-Circuit Guide To The US Supreme Court's Term
Federal appeals courts had wide-ranging successes and struggles during the U.S. Supreme Court's recently completed term: One had its best showing in years following its worst showing in years; one felt déjà vu... (more story)
New Tactics In The Data Center Wars: Incentives, Moratoriums
A rising tide of public opposition and scrutiny of artificial intelligence has culminated in several states repealing tax incentives for data centers and one state enacting the nation's first moratorium, promp... (more story)
A Connecticut municipal assessor did not have the authority to terminate a property tax break for forest use that was erroneously granted, the state Supreme Court said Friday, suggesting that state lawmakers c... (more story)
A Washington state initiative that would bar taxation of individual income and, in turn, repeal a recently approved high-earner tax has received enough signatures to appear on the November 2026 ballot, the sec... (more story)
Two major rulings from the Pennsylvania Supreme Court have left it up to the Legislature to address "skill games" and second-degree murder sentences, while other pending bills would tackle a long-standing chal... (more story)
Ashurst Perkins Coie announced Thursday that it has bolstered its tax practice with a Los Angeles-based partner who came aboard from Stradling Yocca Carlson & Rauth PC.
The skills I've developed as a lifelong magician have translated directly into tangible benefits in the courtroom because performing magic and trying cases both live at the intersection of psychology, storytel... (more story)
Federal appeals courts had wide-ranging successes and struggles during the U.S. Supreme Court's recently completed term: One had its best showing in years following its worst showing in years; one felt déjà vu... (more story)
A rising tide of public opposition and scrutiny of artificial intelligence has culminated in several states repealing tax incentives for data centers and one state enacting the nation's first moratorium, promp... (more story)
International More
Canada Tax Court Rejects Panama Trust's Residency Claim
A Panamanian trust's deemed residency in Quebec under provincial law doesn't qualify it for an abatement of federal taxes because the trust wasn't a Quebec resident under federal law despite its "sympathetic c... (more story)
EU Urges Tighter Customs Checks Amid Small-Parcel Influx
With low-value imports on the rise, more work is needed to ensure that goods entering the European Union comply with product standards, the European Commission said Monday.
EU Launches Electricity Tax Plan To Spur Clean Fuel Shift
The European Union has unveiled an initiative that will require member states to tax electricity at a lower rate than natural gas to support the bloc's climate goals.
UK Litigation Roundup: Here's What You Missed In London
The past week in London has seen Snapchat and Dolby press on with a fresh infringement claim in their ongoing patent battle, The Telegraph face an intellectual property claim by a photo archive, a group of int... (more story)
German Court Convicts Former Banker In €320M Cum-Ex Case
A former banker at an Australian firm was convicted Thursday by a German court of attempting €320 million ($366 million) in tax evasion as part of a cum-ex dividend scandal, a court spokesperson told Law360.
USTR Broadens Exemptions Ahead Of 25% Brazil Tariff
A 25% tariff on Brazilian goods will begin next week with an expanded exemption list following public comments on the action, U.S. Trade Representative Jamieson Greer announced.
Belgian Energy Revenue Cap Is Lawful, EU Court Adviser Says
An adviser to the European Union's top court backed Belgium's application of a bloc-wide mechanism for capping revenue collected by certain energy companies, concluding Thursday that the levy didn't deviate fr... (more story)
A Panamanian trust's deemed residency in Quebec under provincial law doesn't qualify it for an abatement of federal taxes because the trust wasn't a Quebec resident under federal law despite its "sympathetic c... (more story)
With low-value imports on the rise, more work is needed to ensure that goods entering the European Union comply with product standards, the European Commission said Monday.
The European Union has unveiled an initiative that will require member states to tax electricity at a lower rate than natural gas to support the bloc's climate goals.
The past week in London has seen Snapchat and Dolby press on with a fresh infringement claim in their ongoing patent battle, The Telegraph face an intellectual property claim by a photo archive, a group of int... (more story)
A former banker at an Australian firm was convicted Thursday by a German court of attempting €320 million ($366 million) in tax evasion as part of a cum-ex dividend scandal, a court spokesperson told Law360.
A 25% tariff on Brazilian goods will begin next week with an expanded exemption list following public comments on the action, U.S. Trade Representative Jamieson Greer announced.
An adviser to the European Union's top court backed Belgium's application of a bloc-wide mechanism for capping revenue collected by certain energy companies, concluding Thursday that the levy didn't deviate fr... (more story)