House Passes Budget Blueprint Allowing $4.5T In Tax Cuts
The House of Representatives approved a budget blueprint Tuesday that would allow for the passage of up to $4.5 trillion in tax cuts, paving the way to renew the expiring provisions of President Donald Trump's signature 2017 tax overhaul.
NJ's Murphy Pitches Budget With $1.1B In Tax, Fee Increases
New Jersey would impose sales tax on digital services and raise taxes on online gambling while exempting capital gains from sales of small-business stock under a budget plan Democratic Gov. Phil Murphy unveiled Tuesday that includes $1.1 billion in tax and fee increases.
Promised German Tax Cuts Could Come As Deficit Climbs
With the Christian Democrats, winners of Germany's election, having promised to pursue tax cuts, the country's Ministry of Finance revealed Tuesday that the budget deficit reached €18.7 billion ($19.7 billion) last month.
House Passes Budget Blueprint Allowing $4.5T In Tax Cuts
The House of Representatives approved a budget blueprint Tuesday that would allow for the passage of up to $4.5 trillion in tax cuts, paving the way to renew the expiring provisions of President Donald Trump's signature 2017 tax overhaul.
NJ's Murphy Pitches Budget With $1.1B In Tax, Fee Increases
New Jersey would impose sales tax on digital services and raise taxes on online gambling while exempting capital gains from sales of small-business stock under a budget plan Democratic Gov. Phil Murphy unveiled Tuesday that includes $1.1 billion in tax and fee increases.
Promised German Tax Cuts Could Come As Deficit Climbs
With the Christian Democrats, winners of Germany's election, having promised to pursue tax cuts, the country's Ministry of Finance revealed Tuesday that the budget deficit reached €18.7 billion ($19.7 billion) last month.
Federal More
A D.C. federal judge on Tuesday issued a preliminary injunction blocking the Trump administration from implementing a federal spending freeze while a group of nonprofits challenge the freeze, calling the measu... (more story)
The Internal Revenue Service's chief operating officer will become its acting commissioner, replacing current acting commissioner Douglas O'Donnell, who took on the role just last month, the U.S. Treasury Depa... (more story)
The U.S. Tax Court on Tuesday reaffirmed roughly $2.7 million in tax liabilities against television producer Alan Hamel and the estate of his wife, actor Suzanne Somers, finding a Treasury regulation it had re... (more story)
“No comment” is no longer a cost-free or even a viable public communications strategy for companies in crisis, and counsel must tailor their guidance based on a variety of competing factors to help clients eme... (more story)
A Denver personal injury lawyer asked the Tenth Circuit to reconsider its decision barring his $300,000 tax deduction for car-racing costs as professional advertising, saying the court deprived him of due proc... (more story)
A D.C. federal judge on Monday questioned the constitutionality of Elon Musk's Department of Government Efficiency while expressing skepticism that groups challenging the department's access to federal systems... (more story)
A U.S. investor who was among those accused by Denmark's tax agency of participating in a $2.1 billion tax fraud scheme related to fraudulently claiming refunds on tax withheld from stock dividends has reached... (more story)
State & Local More
Spent Fuel Casks Are Taxable Real Property, NJ Court Rules
Storage casks housing highly radioactive spent nuclear fuel are subject to taxation as real property, the New Jersey Tax Court ruled Tuesday.
Minn. House Panel OKs Plan For Surplus Tax Refunds
Surplus state revenue funds would be issued as tax refunds to some Minnesota residents and businesses if a constitutional amendment is approved by voters under a bill narrowly approved Tuesday by the House Committee on Taxes.
Big Data Tax Break Would Spur Investment, Minn. Panel Told
A Minnesota sales tax exemption for large-scale data centers would attract enormous investment to the state, business groups and union representatives said Tuesday in support of legislation advanced by a state... (more story)
Ore. Medical Clinics Need Tax Break, Panel Told
An Oregon proposal to create an exemption from corporate tax for healthcare payments from Medicare and other government sources would help mitigate the financial challenges facing providers, representatives of... (more story)
Osage Reservation Boundary Case Is Meritless, Court Told
Oklahoma Tax Commission officials are urging a federal district court to dismiss a motion by the Osage Nation that seeks acknowledgment of its reservation's continued existence, arguing that the decades-old ca... (more story)
How Design Thinking Can Help Lawyers Find Purpose In Work
Lawyers everywhere are feeling overwhelmed amid mass government layoffs, increasing political instability and a justice system stretched to its limits — but a design-thinking framework can help attorneys navig... (more story)
Justices' Certiorari Denial Leaves Interstate Tax Questions
Since the U.S. Supreme Court recently declined to review a Philadelphia resident’s claim that her Delaware state income taxes should be credited against her city wage tax liabilities, constitutional questions ... (more story)
Mich. Pot Cos. Say Grand Rapids' Equity Fees Are Illegal
A group of cannabis companies is suing the city of Grand Rapids in Michigan state court, saying it is illegally charging them millions in fees through its social equity program.
Ohio Board Rejects Dollar Bank's Apportionment Challenge
The Ohio Board of Tax Appeals ruled that it couldn't allow Dollar Bank to obtain a financial institutions tax refund by applying an alternative apportionment method, saying the board lacked jurisdiction to add... (more story)
Storage casks housing highly radioactive spent nuclear fuel are subject to taxation as real property, the New Jersey Tax Court ruled Tuesday.
Surplus state revenue funds would be issued as tax refunds to some Minnesota residents and businesses if a constitutional amendment is approved by voters under a bill narrowly approved Tuesday by the House Committee on Taxes.
A Minnesota sales tax exemption for large-scale data centers would attract enormous investment to the state, business groups and union representatives said Tuesday in support of legislation advanced by a state... (more story)
An Oregon proposal to create an exemption from corporate tax for healthcare payments from Medicare and other government sources would help mitigate the financial challenges facing providers, representatives of... (more story)
Oklahoma Tax Commission officials are urging a federal district court to dismiss a motion by the Osage Nation that seeks acknowledgment of its reservation's continued existence, arguing that the decades-old ca... (more story)
Lawyers everywhere are feeling overwhelmed amid mass government layoffs, increasing political instability and a justice system stretched to its limits — but a design-thinking framework can help attorneys navig... (more story)
Since the U.S. Supreme Court recently declined to review a Philadelphia resident’s claim that her Delaware state income taxes should be credited against her city wage tax liabilities, constitutional questions ... (more story)
A group of cannabis companies is suing the city of Grand Rapids in Michigan state court, saying it is illegally charging them millions in fees through its social equity program.
The Ohio Board of Tax Appeals ruled that it couldn't allow Dollar Bank to obtain a financial institutions tax refund by applying an alternative apportionment method, saying the board lacked jurisdiction to add... (more story)
International More
Reading The Tea Leaves On Mexico, Canada And China Tariffs
It's still unclear whether the delay in the imposition of U.S. tariffs on Canadian and Mexican imports will result in negotiated resolutions or a full-on trade war, but the outcome may hinge on continuing nego... (more story)
Denmark Argues Misrepresentation Led To £1.4B Tax Refunds
Denmark's tax authority told the High Court of Justice on Monday that it would not have paid out billions in refunds to a British trader and others accused of involvement in a fraudulent trading scheme had the... (more story)
Ex-Goldman Exec Owes For Not Filing FBARs, US Says
A former Goldman Sachs banking executive who lives in Australia owes penalties to the Internal Revenue Service for failing to report foreign bank accounts she held, the U.S. government told a D.C. federal court.
Apple To Invest $500B In US Over 4 Years As Tariffs Mount
Apple said Monday that it would invest $500 billion in the U.S. over the next four years, weeks after President Donald Trump placed a 10% tariff on goods from China, where the company sources components for it... (more story)
French 2% Minimum Wealth Tax Advances In Parliament
French households with assets worth more than €100 million ($104.6 million) would be subject to a 2% minimum tax on their net worth annually under a top-up wealth tax proposal approved by the lower house of Fr... (more story)
IRS, Engineer Resolve Fight Over $5.5M In FBAR Penalties
The U.S. government and an engineer have resolved a dispute over $5.5 million in penalties and interest regarding the nondisclosure of assets in her foreign accounts from 2009 to 2012, according to a judgment ... (more story)
DLA Piper Tax Attorney Jumps To Vedder Price In Chicago
Vedder Price PC has expanded its Chicago office with the addition of a skilled tax attorney who brings nearly 30 years of experience, most recently with DLA Piper.
It's still unclear whether the delay in the imposition of U.S. tariffs on Canadian and Mexican imports will result in negotiated resolutions or a full-on trade war, but the outcome may hinge on continuing nego... (more story)
Denmark's tax authority told the High Court of Justice on Monday that it would not have paid out billions in refunds to a British trader and others accused of involvement in a fraudulent trading scheme had the... (more story)
A former Goldman Sachs banking executive who lives in Australia owes penalties to the Internal Revenue Service for failing to report foreign bank accounts she held, the U.S. government told a D.C. federal court.
Apple said Monday that it would invest $500 billion in the U.S. over the next four years, weeks after President Donald Trump placed a 10% tariff on goods from China, where the company sources components for it... (more story)
French households with assets worth more than €100 million ($104.6 million) would be subject to a 2% minimum tax on their net worth annually under a top-up wealth tax proposal approved by the lower house of Fr... (more story)
The U.S. government and an engineer have resolved a dispute over $5.5 million in penalties and interest regarding the nondisclosure of assets in her foreign accounts from 2009 to 2012, according to a judgment ... (more story)
Vedder Price PC has expanded its Chicago office with the addition of a skilled tax attorney who brings nearly 30 years of experience, most recently with DLA Piper.