Insurance Broker Loses Bid To Undo $6.6M IRS Penalty
A Pennsylvania federal judge rejected an insurance broker's second attempt at challenging a $6.6 million tax penalty imposed by the Internal Revenue Service, ruling Monday that the penalty doesn't violate the company's Seventh Amendment rights.
3 Takeaways From Siemens' Trial Over $3.5B Tax Deduction
Internal conflict at the IRS over a penalty, the recent court victory for another Siemens entity and the company's detailed tax planning are key factors the U.S. Tax Court will have to consider in deciding Siemens USA's case over a $3.5 billion deduction claimed for 2018.
British Airways Beats £5.8M Tax Bill For Worker Hotel Stays
Money that British Airways spent on London hotel rooms for cabin crew members working back-to-back shifts was not employee income subject to nearly £5.8 million ($7.7 million) in taxes, a U.K. court ruled Monday, saying the funds were deductible travel expenses.
Insurance Broker Loses Bid To Undo $6.6M IRS Penalty
A Pennsylvania federal judge rejected an insurance broker's second attempt at challenging a $6.6 million tax penalty imposed by the Internal Revenue Service, ruling Monday that the penalty doesn't violate the company's Seventh Amendment rights.
3 Takeaways From Siemens' Trial Over $3.5B Tax Deduction
Internal conflict at the IRS over a penalty, the recent court victory for another Siemens entity and the company's detailed tax planning are key factors the U.S. Tax Court will have to consider in deciding Siemens USA's case over a $3.5 billion deduction claimed for 2018.
British Airways Beats £5.8M Tax Bill For Worker Hotel Stays
Money that British Airways spent on London hotel rooms for cabin crew members working back-to-back shifts was not employee income subject to nearly £5.8 million ($7.7 million) in taxes, a U.K. court ruled Monday, saying the funds were deductible travel expenses.
Federal More
New strategies using exchange-traded funds may be abusing the tax benefits of these legitimate investment vehicles holding various securities, the IRS said Monday, asking for public feedback on future enforcem... (more story)
The First Circuit should vacate a Rhode Island federal court's $3.3 million tax judgment against the first "Survivor" winner, he told the appeals court, saying a senior U.S. district judge improperly refused t... (more story)
The U.S. government asked the Fifth Circuit to vacate and remand a Texas federal court's decision that struck down the IRS' $1 million penalty assessment over a woman's undisclosed foreign bank accounts, sayin... (more story)
The Internal Revenue Service's recharacterization of transactions between a music production company and its owners makes no economic sense, the U.S. Tax Court said Friday, rejecting the agency's argument that... (more story)
The federal government will appeal the U.S. Court of Federal Claims' July approval of $49.4 million in additional renewable energy cash grants to the country's second-largest wind farm, which has been embroile... (more story)
A New York federal judge denied a charity founder's request to withdraw his guilty plea to wire fraud and tax evasion involving his organization, finding he failed to establish sufficient grounds to argue his innocence.
In this week's Taxation With Representation, Royal Caribbean invests billions in a joint venture with Sandals, Telix Pharmaceuticals buys ITM Isotope Technologies Munich, and Priority Technology makes a go-pri... (more story)
State & Local More
Kalshi Sports Contracts Aren't Financial Swaps, 6th Circ. Says
In a closely watched decision that exacerbates an existing circuit split, a Sixth Circuit panel on Friday rejected Kalshi's assertion that the sports-related transactions made on its platform should be conside... (more story)
K&L Gates Adds Townsend SALT Partner In New York
K&L Gates LLP added to its New York office a new corporate tax partner who specializes in complex tax planning and controversy, the firm announced.
Emergency Election For Calif. Tax Is Valid, Panel Affirms
A California county lawfully used a rarely tested constitutional measure to put a sales tax question on an early ballot after the county said it needed to do so because of a fiscal emergency, a state appellate panel affirmed.
Ind. Tax Court Rules Nestle Facility Accurately Assessed
A Nestle facility in Indiana was correctly assessed from 2018 through 2023 at roughly $50 million, the state tax court said, rejecting the company's claim that the state tax board failed to properly consider i... (more story)
Playing Bid Whist Makes Me A Better Lawyer
As a child, I viewed bid whist as a family tradition and a source of friendly card game competition, but as a lawyer, I see it as a tool that has helped me cultivate skills like communication, teamwork, risk a... (more story)
NY Accuses Polymarket Of Illegal Gambling Operation
New York sued Polymarket on Thursday alleging it runs an illegal gambling operation in the state through its sports prediction markets, the same day that Polymarket lodged its own suit accusing the state of in... (more story)
DC Pied-à-Terre Tax Plan Targets Pricey Second Homes
Washington, D.C., would impose additional property tax on homes worth about $2.6 million or more that are not rented out or used as primary residences under legislation before the district council.
In a closely watched decision that exacerbates an existing circuit split, a Sixth Circuit panel on Friday rejected Kalshi's assertion that the sports-related transactions made on its platform should be conside... (more story)
K&L Gates LLP added to its New York office a new corporate tax partner who specializes in complex tax planning and controversy, the firm announced.
A California county lawfully used a rarely tested constitutional measure to put a sales tax question on an early ballot after the county said it needed to do so because of a fiscal emergency, a state appellate panel affirmed.
A Nestle facility in Indiana was correctly assessed from 2018 through 2023 at roughly $50 million, the state tax court said, rejecting the company's claim that the state tax board failed to properly consider i... (more story)
As a child, I viewed bid whist as a family tradition and a source of friendly card game competition, but as a lawyer, I see it as a tool that has helped me cultivate skills like communication, teamwork, risk a... (more story)
New York sued Polymarket on Thursday alleging it runs an illegal gambling operation in the state through its sports prediction markets, the same day that Polymarket lodged its own suit accusing the state of in... (more story)
Washington, D.C., would impose additional property tax on homes worth about $2.6 million or more that are not rented out or used as primary residences under legislation before the district council.
International More
Creditor Has Priority Over Co.'s Tax Refunds, Court Says
An Australian coal mining company's secured creditor has first priority over a chunk of about AU$7.5 million ($5.3 million) in contested tax refunds compared with a company that purchased the refunds, the Supr... (more story)
2 Men Deny Role In Alleged Tax Avoidance Scheme
Two men accused of defrauding the government by running a tax-avoidance scheme pleaded not guilty on Monday, with a trial due to be held in spring 2027.
WTO To Weigh Russian Claim EU Carbon Levy Breaks Rules
The World Trade Organization said Friday it will consider Russia's challenge that the European Union's carbon import levy poses significant trade barriers despite the bloc's protest that it is unreasonable to ... (more story)
Revamping UK Property Tax Could Fuel Spending, Group Says
The U.K. government should consider introducing a proportional property tax to replace council tax and stamp duty, a move that could unlock more than £10 billion ($13.2 billion) in consumer spending, a campaig... (more story)
Construction Co. Administrators Recover £3.4M From HMRC
Administrators for collapsed construction company Ardmore Construction recovered £3.4 million ($4.5 million) in overpayments from Britain's tax authority, according to a public filing.
France Calls For Harmonized Customs Intermediary Process
French delegates at the Council of the European Union are pushing for more streamlined treatment of customs intermediaries across member states to fight value-added tax fraud and unfair business competition, a... (more story)
EU Countries Criticize UN Tax Framework Process As Biased
A clear majority of European Union countries criticized the tax policy framework steered by the United Nations and voiced concerns during a meeting about bias and inadequate technical processes, three EU offic... (more story)
An Australian coal mining company's secured creditor has first priority over a chunk of about AU$7.5 million ($5.3 million) in contested tax refunds compared with a company that purchased the refunds, the Supr... (more story)
Two men accused of defrauding the government by running a tax-avoidance scheme pleaded not guilty on Monday, with a trial due to be held in spring 2027.
The World Trade Organization said Friday it will consider Russia's challenge that the European Union's carbon import levy poses significant trade barriers despite the bloc's protest that it is unreasonable to ... (more story)
The U.K. government should consider introducing a proportional property tax to replace council tax and stamp duty, a move that could unlock more than £10 billion ($13.2 billion) in consumer spending, a campaig... (more story)
Administrators for collapsed construction company Ardmore Construction recovered £3.4 million ($4.5 million) in overpayments from Britain's tax authority, according to a public filing.
French delegates at the Council of the European Union are pushing for more streamlined treatment of customs intermediaries across member states to fight value-added tax fraud and unfair business competition, a... (more story)
A clear majority of European Union countries criticized the tax policy framework steered by the United Nations and voiced concerns during a meeting about bias and inadequate technical processes, three EU offic... (more story)