IRS Chief Says '26 Tax Filing Season Running Smoothly
The 2026 tax filing season is progressing smoothly, with about 55 million returns already submitted and taxpayers receiving refunds averaging $775 higher than last year, the Internal Revenue Service said Wednesday.
CIT Judge Orders That All IEEPA Tariffs Must Be Refunded
The U.S. government must refund any tariff charged under President Donald Trump's now-struck-down International Emergency Economic Powers Act tariff regime, regardless of whether the affected company filed suit at the U.S. Court of International Trade seeking a refund, a CIT judge ordered Wednesday.
US To Hike Global Tariffs To 15% This Week, Bessent Says
The U.S. will "likely" raise the rate of its global tariff regime to 15% this week, Treasury Secretary Scott Bessent said Wednesday, all but ensuring that the country's total tariff rates will exceed agreed-upon limits in many key trade deals.
IRS Chief Says '26 Tax Filing Season Running Smoothly
The 2026 tax filing season is progressing smoothly, with about 55 million returns already submitted and taxpayers receiving refunds averaging $775 higher than last year, the Internal Revenue Service said Wednesday.
CIT Judge Orders That All IEEPA Tariffs Must Be Refunded
The U.S. government must refund any tariff charged under President Donald Trump's now-struck-down International Emergency Economic Powers Act tariff regime, regardless of whether the affected company filed suit at the U.S. Court of International Trade seeking a refund, a CIT judge ordered Wednesday.
US To Hike Global Tariffs To 15% This Week, Bessent Says
The U.S. will "likely" raise the rate of its global tariff regime to 15% this week, Treasury Secretary Scott Bessent said Wednesday, all but ensuring that the country's total tariff rates will exceed agreed-upon limits in many key trade deals.
Federal More
A U.S.-German citizen asked a Florida federal court to toss a nearly $19.6 million tax penalty assessed by the IRS for failing to report foreign bank account information, telling a judge on Wednesday that he w... (more story)
A commercial real estate owner found guilty of hiding nearly $5 million in income from the Internal Revenue Service asked a Washington federal court for a sentence of home confinement, saying he has changed hi... (more story)
The Eleventh Circuit should not apply the reasoning used by the Eighth Circuit in its October ruling for 3M Co. to allow Coca-Cola to indefinitely defer taxes it owes under IRS transfer pricing regulations, th... (more story)
Recent U.S. Internal Revenue Service and Treasury Department guidance answers taxpayer questions on several key foreign entity rules under the One Big Beautiful Bill Act, but questions remain over transactions... (more story)
A Texas couple that had claimed three years of farming losses owes deficiencies of just over $1.8 million for 2015-18, the U.S. Tax Court said in an order and decision upholding IRS computations in the case.
A partnership belonging to two conservationists challenged the Internal Revenue Service's rejection of its $20 million tax deduction for donating a protective easement in South Carolina, telling the U.S. Tax C... (more story)
A law firm failed to articulate the costs it incurred for complying with tax regulations for overseas income, the U.S. told a D.C. federal court, urging it to toss the firm's suit alleging the rules disproport... (more story)
State & Local More
Ohio Lawmakers OK Updating Conformity To Fed. Tax Code
Ohio would immediately update its conformity to the federal tax code under a bill given final passage Wednesday by the state Senate that would largely follow federal tax breaks enacted last year.
Ariz. Justices OK Manufacturing Tax Break For Launderer
An Arizona company that rents and launders textiles for the healthcare industry qualifies as a manufacturing or processing operation for purposes of a use tax exemption, the state Supreme Court ruled, reversing a lower court.
Mo. House Panel Advances Income Tax Phaseout Plan
A proposed constitutional amendment that would phase out Missouri's personal income tax in exchange for a broader sales tax base moved a step closer to going before voters Wednesday when a state House committe... (more story)
RI Budget Director Pitches New Top Income Tax Bracket
Rhode Island should create a new tax bracket on income over $1 million in its next budget and decouple from the federal tax code's research and development expense deduction, the state's budget director said i... (more story)
Wash. Panel Reverses $11M Tax Award To Insurance Co.
A Washington state appeals panel handed a win to Washington's Department of Revenue on Tuesday, reversing a lower court's order that the department owed a $10.9 million tax refund to a title insurance and sett... (more story)
Aligning Microsoft Tools With NYC Bar AI Recording Guidance
The New York City Bar Association’s recently issued formal opinion, providing ethical guidance on artificial intelligence-assisted recording, transcription and summarization, raises immediate questions about d... (more story)
Ore. Moves $4.3B Transportation Tax Vote To May
Oregon voters will decide in May, instead of November, whether to repeal most of the revenue measures in a $4.3 billion transportation funding package under a bill signed into law by Gov. Tina Kotek.
Ohio would immediately update its conformity to the federal tax code under a bill given final passage Wednesday by the state Senate that would largely follow federal tax breaks enacted last year.
An Arizona company that rents and launders textiles for the healthcare industry qualifies as a manufacturing or processing operation for purposes of a use tax exemption, the state Supreme Court ruled, reversing a lower court.
A proposed constitutional amendment that would phase out Missouri's personal income tax in exchange for a broader sales tax base moved a step closer to going before voters Wednesday when a state House committe... (more story)
Rhode Island should create a new tax bracket on income over $1 million in its next budget and decouple from the federal tax code's research and development expense deduction, the state's budget director said i... (more story)
A Washington state appeals panel handed a win to Washington's Department of Revenue on Tuesday, reversing a lower court's order that the department owed a $10.9 million tax refund to a title insurance and sett... (more story)
The New York City Bar Association’s recently issued formal opinion, providing ethical guidance on artificial intelligence-assisted recording, transcription and summarization, raises immediate questions about d... (more story)
Oregon voters will decide in May, instead of November, whether to repeal most of the revenue measures in a $4.3 billion transportation funding package under a bill signed into law by Gov. Tina Kotek.
International More
Police Detain 9, Seize €13.5M In Luxury Car Tax Fraud Probe
European officials have detained nine individuals suspected of running a tax scam involving luxury cars and seized €13.5 million ($15.7 million) in assets, the European Public Prosecutor's Office said Wednesday.
DC Circ. Urged To Aid Discovery In ICE-IRS Data-Sharing Case
A taxpayer group challenging the legality of a deal allowing the Internal Revenue Service to share taxpayer location information with immigration authorities asked the D.C. Circuit to remand part of the case t... (more story)
Gov't Goes After $19M In Biofuel Tax Credit Fraud Case
A businessman who owes more than $19 million to a company subject to forfeiture over its involvement in a $511 million biofuel tax credit fraud must hand over the money to the federal government now that a cat... (more story)
Reeves Says UK Will Stick With Higher Tax Take Strategy
Chancellor of the Exchequer Rachel Reeves said Tuesday that the U.K. government will keep its plans to meet its fiscal rules by increasing its tax take despite calls for tax cuts from businesses and concerns o... (more story)
EU Energy Groups Seek Extension Of VAT Fraud Fighting Tool
Energy associations urged European Union lawmakers Tuesday to extend a tool used to fight value-added tax fraud that is set to expire in December, saying an extension will ensure the proper functioning of carb... (more story)
Fed. Circ. Quickly Releases Mandate In Trump Tariff Case
Businesses and states that successfully challenged President Donald Trump's global tariff regime can proceed with their efforts to seek refunds, as the Federal Circuit expedited the release of its mandate in t... (more story)
Disregarded Entity Can't Claim Basis In Partnership
A company that elected to be treated as a disregarded entity — a branch of its parent — and attempted to pay for interest in a partnership with a promissory note from the parent can't claim a basis in the part... (more story)
European officials have detained nine individuals suspected of running a tax scam involving luxury cars and seized €13.5 million ($15.7 million) in assets, the European Public Prosecutor's Office said Wednesday.
A taxpayer group challenging the legality of a deal allowing the Internal Revenue Service to share taxpayer location information with immigration authorities asked the D.C. Circuit to remand part of the case t... (more story)
A businessman who owes more than $19 million to a company subject to forfeiture over its involvement in a $511 million biofuel tax credit fraud must hand over the money to the federal government now that a cat... (more story)
Chancellor of the Exchequer Rachel Reeves said Tuesday that the U.K. government will keep its plans to meet its fiscal rules by increasing its tax take despite calls for tax cuts from businesses and concerns o... (more story)
Energy associations urged European Union lawmakers Tuesday to extend a tool used to fight value-added tax fraud that is set to expire in December, saying an extension will ensure the proper functioning of carb... (more story)
Businesses and states that successfully challenged President Donald Trump's global tariff regime can proceed with their efforts to seek refunds, as the Federal Circuit expedited the release of its mandate in t... (more story)
A company that elected to be treated as a disregarded entity — a branch of its parent — and attempted to pay for interest in a partnership with a promissory note from the parent can't claim a basis in the part... (more story)