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BREAKING: Canada To Hit US With Retaliatory Tariffs, 'Dollar For Dollar'
The Canadian government struck back on Tuesday at the latest round of U.S. tariffs, announcing tariffs of its own of up to 50% on more than 800 categories of products worth $27.6 billion Canadian ($20 billion) that will come into force on Sept. 8.
Reporting Prediction Market Wins A Safe Bet Amid IRS Silence
The IRS has yet to clarify how it will treat money people pocket from trading event contracts on prediction market platforms, but specialists urge against taking the agency's silence as an excuse to omit wins and losses from returns.
Mich. Panel Says More Proof Needed For Hospital's Tax Break
A Michigan hospital and its parent nonprofit need to provide more information to substantiate that an entire commercial building used by both entities qualifies for a property tax exemption for charitable institutions, the state Court of Appeals ruled, reversing a tribunal's decision to award the exemption.
Federal More
The U.S. Department of Justice’s recently released memo outlining priorities for its newly created fraud division will shape how cases are identified, staffed and sequenced, meaning white collar defense work m... (more story)
Vedder has added a seasoned employee benefits and executive compensation partner from Winston Taylor LLP to join its practice as a new shareholder in Chicago, where she will advise clients on a wide range of r... (more story)
The Internal Revenue Service's penalty imposed on a partnership for inaccurately reporting a Louisiana conservation easement transaction is considered a tax collection matter outside federal courts' jurisdicti... (more story)
A dispute over the taxability of $300 million in funds from Hyatt Hotels' loyalty rewards program will head back to the U.S. Tax Court, with the Seventh Circuit rejecting the Internal Revenue Service's request... (more story)
President Donald Trump on Monday escalated his trade war against Canada, saying he would implement 50% tariffs on vehicles and steel from the country in January, after a 50% levy took effect over the weekend o... (more story)
A Maryland federal court correctly found that a Baltimore attorney must cover unpaid federal income taxes owed by his client's holding company, but the lower court was wrong to determine that the attorney shou... (more story)
A pair of law firms have agreed to drop suits they recently lodged in Georgia federal court claiming the Internal Revenue Service wrongly denied their claims to COVID-19-related employee retention credits.
State & Local More
OptumRx Seeks Quick Win In Apportionment Fight With Fla.
Florida's tax agency incorrectly excluded rebates for drugmakers from the sales factor of OptumRx, and the company's pharmacy benefit management services can't be sourced to Florida because they took place els... (more story)
Childcare Center Late To Claim Tax Break, Minn. Justices Told
A Minnesota childcare center failed to meet the statutory deadline for seeking a property tax exemption and was not entitled to judicial review of the tax break's denial, a county told the state Supreme Court,... (more story)
NJ Medicaid Fee Law Barred By ERISA, Trade Groups Argue
A coalition of restaurant, retail and hotel industry groups has urged a New Jersey federal court to strike down a state law requiring businesses to pay a fine when their employees are enrolled in the state Med... (more story)
Taxation With Representation: Fenwick, Hengeler Mueller
In this week's Taxation With Representation, Santander SA completes its acquisition of U.S. regional lender Webster Financial Corp., financial services company Stripe buys artificial intelligence routing platf... (more story)
Score One Very Big One Against Illegal Taxes: SALT In Review
From the defeat of Maryland's digital advertising tax to a Missouri election that defied expectation, RSM's David Brunori offers his thoughts on noteworthy state and local tax news.
Colo. Court Affirms Boulder Stormwater Fees Aren't Taxes
Stormwater fees in Boulder, Colorado, that were used in part to repay $66 million in bonds are not taxes subject to voter approval under the state's Taxpayer Bill of Rights, an appeals court said Thursday, aff... (more story)
RI Homeowners Challenge 'Taylor Swift Tax' On 2nd Homes
Dozens of Rhode Island homeowners filed a suit in state court alleging that a new levy on second homes valued at more than $1 million, which has been called the Taylor Swift tax, is unconstitutional because it... (more story)
Florida's tax agency incorrectly excluded rebates for drugmakers from the sales factor of OptumRx, and the company's pharmacy benefit management services can't be sourced to Florida because they took place els... (more story)
A Minnesota childcare center failed to meet the statutory deadline for seeking a property tax exemption and was not entitled to judicial review of the tax break's denial, a county told the state Supreme Court,... (more story)
A coalition of restaurant, retail and hotel industry groups has urged a New Jersey federal court to strike down a state law requiring businesses to pay a fine when their employees are enrolled in the state Med... (more story)
In this week's Taxation With Representation, Santander SA completes its acquisition of U.S. regional lender Webster Financial Corp., financial services company Stripe buys artificial intelligence routing platf... (more story)
From the defeat of Maryland's digital advertising tax to a Missouri election that defied expectation, RSM's David Brunori offers his thoughts on noteworthy state and local tax news.
Stormwater fees in Boulder, Colorado, that were used in part to repay $66 million in bonds are not taxes subject to voter approval under the state's Taxpayer Bill of Rights, an appeals court said Thursday, aff... (more story)
Dozens of Rhode Island homeowners filed a suit in state court alleging that a new levy on second homes valued at more than $1 million, which has been called the Taylor Swift tax, is unconstitutional because it... (more story)
International More
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.
Director Behind £19M Fraud Hit With Forgery Contempt Claims
The liquidators of a payroll services business persuaded a court on Tuesday to allow them to bring fresh contempt allegations against the company's former director, who allegedly used a forged medical report i... (more story)
Microsoft Says Consumer Must Arbitrate Tariff Refund Claims
Microsoft urged a Washington federal judge Friday to force arbitration of an Xbox buyer's proposed class action alleging the company seeks to pocket tariff refunds meant for customers — or toss the case entire... (more story)
OECD Draft Could Guide Pricing For Intragroup R&D Deals
The Organization for Economic Cooperation and Development's proposed revisions to its intragroup transfer pricing guidelines provide helpful tips for determining the cost base for contract research and develop... (more story)
Six EU Countries Push For Blocwide Tax On Oil Firms' Profits
Six European Union countries are calling for renewed discussions on taxing the windfall profits of oil companies to shield consumers from high energy costs, according to a letter the countries sent to the Iris... (more story)
Consultant Should Have Flagged VAT Fraud, UK Court Affirms
A U.K. appeals court backed HM Revenue & Customs' denial of an information technology company's nearly £1.7 million ($2.3 million) value-added tax deduction, holding Friday that the company's consultant should... (more story)
Trump Says He Reached Deal For Tariff-Free Ground Beef
President Donald Trump said Friday he has cut a deal to allow up to 300,000 metric tons of ground beef to be imported into the U.S. without an added tariff in exchange for lower prices for consumers.
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.
The liquidators of a payroll services business persuaded a court on Tuesday to allow them to bring fresh contempt allegations against the company's former director, who allegedly used a forged medical report i... (more story)
Microsoft urged a Washington federal judge Friday to force arbitration of an Xbox buyer's proposed class action alleging the company seeks to pocket tariff refunds meant for customers — or toss the case entire... (more story)
The Organization for Economic Cooperation and Development's proposed revisions to its intragroup transfer pricing guidelines provide helpful tips for determining the cost base for contract research and develop... (more story)
Six European Union countries are calling for renewed discussions on taxing the windfall profits of oil companies to shield consumers from high energy costs, according to a letter the countries sent to the Iris... (more story)
A U.K. appeals court backed HM Revenue & Customs' denial of an information technology company's nearly £1.7 million ($2.3 million) value-added tax deduction, holding Friday that the company's consultant should... (more story)
President Donald Trump said Friday he has cut a deal to allow up to 300,000 metric tons of ground beef to be imported into the U.S. without an added tariff in exchange for lower prices for consumers.