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Groups Ask Tax Court To Let Abbott Use IRS Appeals Office
The U.S. Tax Court should deny the IRS a quick win on decreasing Abbott Laboratories' income eligible for deductions by about $380 million because the company is entitled to pursue several concerns first at the Independent Office of Appeals, two groups said in amicus briefs.
Tax Court Backs Income Approach For Easement Deduction
A partnership donor appropriately applied the income approach to appraise a nearly 300-acre conservation easement in Los Angeles County to claim a 2014 charitable deduction, the U.S. Tax Court ruled Monday, finding that the taxpayer adequately substantiated its valuation method.
Split 10th Circ. Won't Revisit Liberty Global's $2.4B Tax Loss
The Tenth Circuit said Monday it won't reconsider an April ruling against Liberty Global, upholding a decision that found the telecommunications giant improperly claimed a $2.4 billion deduction based on foreign transactions that lacked economic substance.
Groups Ask Tax Court To Let Abbott Use IRS Appeals Office
The U.S. Tax Court should deny the IRS a quick win on decreasing Abbott Laboratories' income eligible for deductions by about $380 million because the company is entitled to pursue several concerns first at the Independent Office of Appeals, two groups said in amicus briefs.
Tax Court Backs Income Approach For Easement Deduction
A partnership donor appropriately applied the income approach to appraise a nearly 300-acre conservation easement in Los Angeles County to claim a 2014 charitable deduction, the U.S. Tax Court ruled Monday, finding that the taxpayer adequately substantiated its valuation method.
Split 10th Circ. Won't Revisit Liberty Global's $2.4B Tax Loss
The Tenth Circuit said Monday it won't reconsider an April ruling against Liberty Global, upholding a decision that found the telecommunications giant improperly claimed a $2.4 billion deduction based on foreign transactions that lacked economic substance.
Federal More
A CEO of a development company said his lawsuit over a dismissed criminal racketeering case against him and New Jersey power broker George E. Norcross III should survive former state Attorney General Matt Plat... (more story)
A Florida federal judge upheld a nearly $20 million tax judgment against a dual U.S.-German citizen for undisclosed foreign bank account information, holding that he could not justify his delay in asserting hi... (more story)
A D.C. federal judge on Monday ordered former Goldman Sachs banking executive Patricia L. Bowden to pay more than $860,000 in damages after she failed to take action in the federal government's lawsuit that al... (more story)
EBay users hit Pitney Bowes Inc. with a breach of contract proposed class action Monday in Connecticut federal court alleging the global shipping and logistics company failed to return or refund them tariff-re... (more story)
A Georgia federal judge on Monday dismissed a lawsuit brought by an attorney and his firm alleging a 2021 law designed to combat money laundering could force the attorney to violate attorney-client privilege, ... (more story)
Six attorneys who weighed in on President Donald Trump's $10 billion suit against the Internal Revenue Service told a Florida federal court Monday that he hasn't demonstrated that he will prove that its ruling... (more story)
The U.S. Court of International Trade should grant class certification to companies seeking refunds of duties paid under the invalidated global tariff regime, the company serving as a test case for the refunds... (more story)
State & Local More
Colo. Taxpayer Says $490M Court Project Violates TABOR
A Colorado county's decision to build a half-billion-dollar judicial center required voter approval under the state's Taxpayer's Bill of Rights, a county council member said in a suit, attempting to halt the project.
Chicago Auto Lease Tax Is Unconstitutional, Suit Says
A Chicago tax applied monthly to leased vehicles violates the state's constitution, a taxpayer told a state court, arguing the levy flouts the uniformity clause.
Rising Star: Baker McKenzie's Cameron Reilly
Baker McKenzie partner Cameron Reilly helped secure a key tax court ruling for FedEx Corp. to invalidate regulations on mandatory repatriation under the 2017 federal tax changes, and was a lead attorney in Fac... (more story)
Taxation With Representation: Miller Thomson, Bennett Jones
In this week's Taxation With Representation, GO Residential Real Estate Investment Trust and a consortium of buyers acquire H&R Real Estate Investment Trust, insurance exchange Accelerant goes private in a dea... (more story)
Rising Star: Covington's Brian Harris
Brian Harris of Covington & Burling LLP represented companies from the world of biomedicine, retail and even sports after advising on the acquisition and relocation of the NHL's Arizona Coyotes in transactiona... (more story)
Going To Hardcore Shows Makes Me A Better Lawyer
While government contracts law and the hardcore scene may seem entirely unrelated, in my experience, both are about community, focus, being prepared for the unexpected and managing chaos, says Isaac Natter at Fluet.
Conn. Justices OK Tax Penalty For Failure To File Form
A Connecticut town didn't err when it assessed a tax penalty on a property owner that failed to file an income report requested by the town's assessor, even though the assessor had sent the form to an old addr... (more story)
A Colorado county's decision to build a half-billion-dollar judicial center required voter approval under the state's Taxpayer's Bill of Rights, a county council member said in a suit, attempting to halt the project.
A Chicago tax applied monthly to leased vehicles violates the state's constitution, a taxpayer told a state court, arguing the levy flouts the uniformity clause.
Baker McKenzie partner Cameron Reilly helped secure a key tax court ruling for FedEx Corp. to invalidate regulations on mandatory repatriation under the 2017 federal tax changes, and was a lead attorney in Fac... (more story)
In this week's Taxation With Representation, GO Residential Real Estate Investment Trust and a consortium of buyers acquire H&R Real Estate Investment Trust, insurance exchange Accelerant goes private in a dea... (more story)
Brian Harris of Covington & Burling LLP represented companies from the world of biomedicine, retail and even sports after advising on the acquisition and relocation of the NHL's Arizona Coyotes in transactiona... (more story)
While government contracts law and the hardcore scene may seem entirely unrelated, in my experience, both are about community, focus, being prepared for the unexpected and managing chaos, says Isaac Natter at Fluet.
A Connecticut town didn't err when it assessed a tax penalty on a property owner that failed to file an income report requested by the town's assessor, even though the assessor had sent the form to an old addr... (more story)
International More
HMRC Opens Registration For Tax Advisers
Britain's tax authority announced on Tuesday the opening of mandatory registration for tax advisers handling corporate tax matters.
EU Guidance Lays Out Cost Adjustments For Carbon Levy
The European Union's carbon import levy on emissions-intensive goods such as aluminum and cement will allow importers to reduce the cost of the levy to mirror carbon allowances granted to EU producers based on... (more story)
McKesson's $10M Tax Refund Bid Misreads Law, Gov't Says
The U.S. government urged a Texas federal court to uphold transfer pricing regulations that McKesson is challenging in its push for a nearly $10 million tax refund, arguing the pharmaceutical giant has taken a... (more story)
Meta's Litigation Distinct From Facebook's, IRS Says
The case over Meta Platforms' 2017-2019 tax years is not identical to the one brought by its predecessor, Facebook, the IRS said in responding to Meta's claim that the government is seeking to relitigate the e... (more story)
Taxable Pension Withdrawals By Under-65s Reach £76B
Britons under 65 have taken £75.5 billion ($102 billion) in taxable income from their pensions in just over a decade, an insurance technology company has said.
Africa Wants Precedence For UN Tax Pact's Dispute Protocol
The 54-member African Group wants the United Nations tax convention's dispute protocol to supersede substantially similar mechanisms already in force unless parties agree otherwise, according to negotiations held Thursday.
EU Rebuts US Claim That Carbon Levy Resembles Tariffs
The European Commission rejected a claim Thursday that the bloc's carbon import levy resembles tariffs imposed by the U.S. on steel and aluminum, responding to statements by the U.S. ambassador to the European Union.
Britain's tax authority announced on Tuesday the opening of mandatory registration for tax advisers handling corporate tax matters.
The European Union's carbon import levy on emissions-intensive goods such as aluminum and cement will allow importers to reduce the cost of the levy to mirror carbon allowances granted to EU producers based on... (more story)
The U.S. government urged a Texas federal court to uphold transfer pricing regulations that McKesson is challenging in its push for a nearly $10 million tax refund, arguing the pharmaceutical giant has taken a... (more story)
The case over Meta Platforms' 2017-2019 tax years is not identical to the one brought by its predecessor, Facebook, the IRS said in responding to Meta's claim that the government is seeking to relitigate the e... (more story)
Britons under 65 have taken £75.5 billion ($102 billion) in taxable income from their pensions in just over a decade, an insurance technology company has said.
The 54-member African Group wants the United Nations tax convention's dispute protocol to supersede substantially similar mechanisms already in force unless parties agree otherwise, according to negotiations held Thursday.
The European Commission rejected a claim Thursday that the bloc's carbon import levy resembles tariffs imposed by the U.S. on steel and aluminum, responding to statements by the U.S. ambassador to the European Union.