IRS' Proposed Voluntary Disclosure Rule Could Be Dissuasive
The IRS has proposed relaxing the 75% civil fraud penalty for participants in its voluntary disclosure program, but a corresponding 90-day deadline for complying with all payment and filing requirements could discourage some taxpayers from coming forward.
Justices Pass On Oklahoma Tribal Tax Case
The U.S. Supreme Court declined Monday to review an Oklahoma high court ruling that denied tax-exempt status to a member of the Muscogee Creek Nation.
Tito's Vodka Maker Must Pay Tax Tab, Maine Justices Rule
Maine's highest court affirmed that the out-of-state liquor producer of Tito's Vodka had nexus in the state because it had title to supplies while they were stored in a state-owned warehouse.
IRS' Proposed Voluntary Disclosure Rule Could Be Dissuasive
The IRS has proposed relaxing the 75% civil fraud penalty for participants in its voluntary disclosure program, but a corresponding 90-day deadline for complying with all payment and filing requirements could discourage some taxpayers from coming forward.
Justices Pass On Oklahoma Tribal Tax Case
The U.S. Supreme Court declined Monday to review an Oklahoma high court ruling that denied tax-exempt status to a member of the Muscogee Creek Nation.
Tito's Vodka Maker Must Pay Tax Tab, Maine Justices Rule
Maine's highest court affirmed that the out-of-state liquor producer of Tito's Vodka had nexus in the state because it had title to supplies while they were stored in a state-owned warehouse.
Federal More
An energy investment firm urged the First Circuit to disregard a 2009 Federal Circuit decision barring individual partners from seeking refunds of a partnership's income taxes, arguing the opinion has no beari... (more story)
The Bank of New York Mellon Corp. will be the federal government's financial agent in helping implement the new tax-advantaged brokerage accounts for children called Trump accounts, the U.S. Treasury Department said Monday.
My audit of 1,522 court documents from last month found that over 95% contained at least one verifiable error, with fewer than 1% showing clear indicators of artificial intelligence use — highlighting above al... (more story)
Fabletics, the activewear company co-founded by actress Kate Hudson, was hit with a proposed class action in California federal court Friday alleging it is improperly pocketing tariff surcharges from customers... (more story)
The Internal Revenue Service released guidance Monday describing the nomination process and eligibility requirements for designated qualified opportunity zones and identifying a list of qualifying areas.
The Internal Revenue Service has improperly interpreted a requirement that an agency supervisor must approve tax penalties before they're asserted against a taxpayer, a couple told the U.S. Supreme Court, urgi... (more story)
Tariffs dominated the headlines in March, with the process for refunding those illegally imposed under the International Emergency Economic Powers Act being set up — and customers demanding their cut from busi... (more story)
State & Local More
Mich. Justices Turn Down Disney's Escheat Timing Case
The Michigan Supreme Court will not consider a request by Disney to review an appellate court ruling that said unclaimed property audit determinations create new legal obligations for holders that trigger a se... (more story)
COST Urges Miss. Justices To Undo AT&T Valuation Ruling
The Mississippi Supreme Court should strike down a trial court decision allowing a county assessor to appraise AT&T's and T-Mobile's broadband equipment using estimated values, the Council on State Taxation sa... (more story)
Colo. Justices OK High-Earner Tax Ballot Plan
A Colorado proposal to create a graduated income tax and raise rates on high earners, projected to bring in $2 billion annually, took a step closer to the November ballot as the state Supreme Court rejected ef... (more story)
Tax Slashes, DA Oversight Bills Mark End Of Ga. Session
A Republican-driven rollback to Georgia income taxes that could extend through the better part of the next decade capped off the state's 2026 legislative session Thursday, as lawmakers avoided the bitter fight... (more story)
9th Circ. Upholds Biden Ariz. National Monument Proclamation
A Ninth Circuit panel has upheld a lower court's dismissal of a challenge to former President Joe Biden's proclamation that established an Indigenous site in the Grand Canyon region as a national monument, say... (more story)
Law360 Announces The Members Of Its 2026 Editorial Boards
Law360 is pleased to announce the formation of its 2026 Editorial Advisory Boards.
Mich. Banking Brief: All The Notable Legal Updates In Q1
Michigan's financial services sector saw several significant developments in 2026's first quarter, including the state Department of Insurance and Financial Services' issuance of a bulletin on the use of artif... (more story)
The Michigan Supreme Court will not consider a request by Disney to review an appellate court ruling that said unclaimed property audit determinations create new legal obligations for holders that trigger a se... (more story)
The Mississippi Supreme Court should strike down a trial court decision allowing a county assessor to appraise AT&T's and T-Mobile's broadband equipment using estimated values, the Council on State Taxation sa... (more story)
A Colorado proposal to create a graduated income tax and raise rates on high earners, projected to bring in $2 billion annually, took a step closer to the November ballot as the state Supreme Court rejected ef... (more story)
A Republican-driven rollback to Georgia income taxes that could extend through the better part of the next decade capped off the state's 2026 legislative session Thursday, as lawmakers avoided the bitter fight... (more story)
A Ninth Circuit panel has upheld a lower court's dismissal of a challenge to former President Joe Biden's proclamation that established an Indigenous site in the Grand Canyon region as a national monument, say... (more story)
Law360 is pleased to announce the formation of its 2026 Editorial Advisory Boards.
Michigan's financial services sector saw several significant developments in 2026's first quarter, including the state Department of Insurance and Financial Services' issuance of a bulletin on the use of artif... (more story)
International More
Germany, Italy Ask EU For Windfall Tax On Energy Companies
Germany, Italy, Spain, Austria and Portugal have asked the European Union to create a windfall profits tax on energy companies so governments can finance relief for spiking oil prices fueled by the U.S. and Is... (more story)
Iran War's Trade Fallout Likely To Spread Beyond Oil, Fertilizer
The war in Iran has already shocked oil and gas prices worldwide and stakeholders expect further U.S. trade consequences related to the conflict including supply chain constraints, cost increases across a vari... (more story)
Man Denies Owing Gov't $19M In Biofuel Tax Credit Fraud
A businessman told a Utah federal court that he shouldn't need to pay over $19 million for a forfeited loan from a company central to a $511 million biofuel tax credit fraud because the government's calculatio... (more story)
Taxation With Representation: Cleary, Hogan Lovells, Wachtell
In this week's Taxation With Representation, spice maker McCormick acquires Unilever's foods business, wholesale restaurant food distributor Sysco buys Jetro Restaurant Depot, and private equity giant KKR clos... (more story)
Inheritance Tax Changes To Hit Investment, Advisers Warn
The U.K. government's plans to slash tax relief for inheritance tax on agricultural and business property coming into effect Monday will hit investors and family businesses, advisers told Law360.
Investors Settle £4.3M Case Against Tax Refund Lender
Two investment companies that sued a tax refund lender and its directors for more than £4.3 million ($5.7 million) in unpaid debt have agreed to settle their case.
HMRC Absorbs Valuation Office Ahead Of Mansion Tax
Britain's Valuation Office Agency has been integrated into a new branch of HM Revenue and Customs before the rollout of a new tax on high-value homes, the tax authority said Wednesday.
Germany, Italy, Spain, Austria and Portugal have asked the European Union to create a windfall profits tax on energy companies so governments can finance relief for spiking oil prices fueled by the U.S. and Is... (more story)
The war in Iran has already shocked oil and gas prices worldwide and stakeholders expect further U.S. trade consequences related to the conflict including supply chain constraints, cost increases across a vari... (more story)
A businessman told a Utah federal court that he shouldn't need to pay over $19 million for a forfeited loan from a company central to a $511 million biofuel tax credit fraud because the government's calculatio... (more story)
In this week's Taxation With Representation, spice maker McCormick acquires Unilever's foods business, wholesale restaurant food distributor Sysco buys Jetro Restaurant Depot, and private equity giant KKR clos... (more story)
The U.K. government's plans to slash tax relief for inheritance tax on agricultural and business property coming into effect Monday will hit investors and family businesses, advisers told Law360.
Two investment companies that sued a tax refund lender and its directors for more than £4.3 million ($5.7 million) in unpaid debt have agreed to settle their case.
Britain's Valuation Office Agency has been integrated into a new branch of HM Revenue and Customs before the rollout of a new tax on high-value homes, the tax authority said Wednesday.