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EU Draft Tax Data Bill Eases US Access To Carveout
A draft of a European Union bill on tax data exchange seen Friday by Law360 emphasized that companies should not be barred from accessing a reporting carveout because they are headquartered in a Pillar Two side-by-side regime — a suggestion that could benefit U.S. companies.
Trump Denied New Bid To Federalize Hush Money Prosecution
A New York federal judge on Friday again denied President Donald Trump's bid to move his criminal hush money conviction out of state court, finding as he did earlier that a federal law defense that Trump was operating in his official capacity would be meritless.
Siemens To Defend Restructuring, $3.5B Deduction At Trial
A U.S. subsidiary of German conglomerate Siemens is preparing to defend a $3.5 billion deduction stemming from transactions that the company said were needed to integrate a 2017 acquisition into its software business unit when its U.S. Tax Court trial begins Monday.
Federal More
A Miami-based developer is fighting New Orleans' attempt to transfer his company's Chapter 11 proceeding to Louisiana, telling a Florida federal bankruptcy judge that the case should stay put because the case ... (more story)
Federal courts can review the IRS' proposed settlement to allow churches to engage in political activities without losing their tax-exempt status, religious liberty groups told the Fifth Circuit, asking the ap... (more story)
Chicagoland grocery chain owners' in-house insurance arrangement is a valid insurance transaction "and should be respected as such," they told the Seventh Circuit, saying their business should be allowed to cl... (more story)
To minimize their risk, employee retention credit providers and tax advisers should understand that agreements to extend clients’ two-year deadline for challenging disallowances are not effective until the IRS... (more story)
A Canadian charity cannot receive a tax refund from the Internal Revenue Service for U.S.-sourced dividend income from a unit trust because the U.S.-Canada tax treaty doesn't grant Canadian unit trusts that be... (more story)
Taekwondo has taught me to recognize when to fight for a position and when to focus on finding a solution, and that the best outcomes are often achieved by solving problems — all of which has improved my work ... (more story)
The U.S. Court of Federal Claims paused reviewing luxury automaker BMW's $38.4 million tax refund suit until an appeals court issues a decision in a similar case over the tolling of a COVID-19-era filing deadline.
State & Local More
New Jersey Cuts Business Tax Credits For Data Centers
New Jersey barred data centers from receiving tax credits under a program designed to develop its artificial intelligence industry, reallocating $250 million to other economic incentive programs under a bill s... (more story)
Boston Eyes Liquor License Sold By Celebrity Chef
The city of Boston asked a judge on Friday to block the anticipated transfer of a liquor license once held by celebrity chef Barbara Lynch, contending that Lynch's original sale of the license to its current h... (more story)
NJ Law Requires Data Centers To Report Utility Usage
New Jersey Gov. Mikie Sherrill signed a bill into law Thursday that requires data centers in the state to provide the New Jersey Board of Public Utilities with semiannual water and energy usage reports.
MARTA, Atlanta Reach $52M Deal In Lengthy Tax Dispute
The Metropolitan Atlanta Rapid Transit Authority and the city of Atlanta announced a $52 million settlement Thursday to end their yearslong dispute over the amount of sales tax proceeds allocated for its enhanced bus service.
Coffee Seller's Tax Suit Counterclaims Belong In Calif.
The founder of a California coffee equipment manufacturer asked a Colorado state court judge Monday to dismiss the bulk of counterclaims from the founder of a Colorado coffee equipment provider who allegedly h... (more story)
Texas Appeals Court Says Co.'s Gear Correct On Tax Rolls
A Texas appeals panel ruled Wednesday that a company's natural gas compressors leased in Frio County were correctly listed on that locality's tax rolls despite the company's claims that the equipment was asses... (more story)
Mastercard Says Pa. Sourcing Reg Would Subvert Uniformity
A proposed regulation from the Pennsylvania Department of Revenue would create a lack of uniformity between credit card companies and others regarding the sourcing of receipts, Mastercard told the department i... (more story)
New Jersey barred data centers from receiving tax credits under a program designed to develop its artificial intelligence industry, reallocating $250 million to other economic incentive programs under a bill s... (more story)
The city of Boston asked a judge on Friday to block the anticipated transfer of a liquor license once held by celebrity chef Barbara Lynch, contending that Lynch's original sale of the license to its current h... (more story)
New Jersey Gov. Mikie Sherrill signed a bill into law Thursday that requires data centers in the state to provide the New Jersey Board of Public Utilities with semiannual water and energy usage reports.
The Metropolitan Atlanta Rapid Transit Authority and the city of Atlanta announced a $52 million settlement Thursday to end their yearslong dispute over the amount of sales tax proceeds allocated for its enhanced bus service.
The founder of a California coffee equipment manufacturer asked a Colorado state court judge Monday to dismiss the bulk of counterclaims from the founder of a Colorado coffee equipment provider who allegedly h... (more story)
A Texas appeals panel ruled Wednesday that a company's natural gas compressors leased in Frio County were correctly listed on that locality's tax rolls despite the company's claims that the equipment was asses... (more story)
A proposed regulation from the Pennsylvania Department of Revenue would create a lack of uniformity between credit card companies and others regarding the sourcing of receipts, Mastercard told the department i... (more story)
International More
Canada Appeals Court Nixes Tax Liability Over $65M Mall Sale
A Canadian real estate company is off the hook for additional taxes stemming from a CA$89.8 million ($64.6 million) property sale, a Canadian appeals court ruled, rejecting a lower court's finding that the tra... (more story)
Trade Sanctions Body Refers More Than 40 Cases To HMRC
The trade sanctions enforcer has revealed that it has referred almost 50 cases to law enforcement agencies and regulators for possible enforcement, including criminal prosecution, over the past year as its inv... (more story)
States Push EU Budget Cuts As Spending, Tax Talks Ramp Up
Six European Union countries called Thursday for the bloc's long-term budget draft to be cut by several hundred billion euros from the €2 trillion ($2.33 trillion) proposed by the European Commission.
EPPO Orders Arrests In €20M AirPods VAT Fraud Scheme
The European Public Prosecutor's Office said Wednesday that five people have been arrested in Czechia on suspicion of being part of a €20 million ($23.3 million) value-added tax fraud ring involving Apple AirP... (more story)
Albania Looks To Toss Judgment Enforcing $13M Award
Albania's state-owned oil company is urging a D.C. federal court to dismiss a default judgment enforcing a roughly $13 million arbitral award now owed to litigation funder Omni Bridgeway, saying the judgment w... (more story)
Romania Transfer Pricing Dispute Sent To Top EU Court
A Romanian court of appeal has asked the European Court of Justice to determine whether a national law requiring tax authorities to adjust transfer prices to the median value used by similar independent compan... (more story)
France May Extend Biz Tax To Relieve Economy, Minister Says
France's tax on large companies, originally intended as a temporary measure, could be extended into 2027 to ease economic pressures, the country's finance minister said.
A Canadian real estate company is off the hook for additional taxes stemming from a CA$89.8 million ($64.6 million) property sale, a Canadian appeals court ruled, rejecting a lower court's finding that the tra... (more story)
The trade sanctions enforcer has revealed that it has referred almost 50 cases to law enforcement agencies and regulators for possible enforcement, including criminal prosecution, over the past year as its inv... (more story)
Six European Union countries called Thursday for the bloc's long-term budget draft to be cut by several hundred billion euros from the €2 trillion ($2.33 trillion) proposed by the European Commission.
The European Public Prosecutor's Office said Wednesday that five people have been arrested in Czechia on suspicion of being part of a €20 million ($23.3 million) value-added tax fraud ring involving Apple AirP... (more story)
Albania's state-owned oil company is urging a D.C. federal court to dismiss a default judgment enforcing a roughly $13 million arbitral award now owed to litigation funder Omni Bridgeway, saying the judgment w... (more story)
A Romanian court of appeal has asked the European Court of Justice to determine whether a national law requiring tax authorities to adjust transfer prices to the median value used by similar independent compan... (more story)
France's tax on large companies, originally intended as a temporary measure, could be extended into 2027 to ease economic pressures, the country's finance minister said.