4 High Court Tax Decisions Justice Breyer Helped Shape
HMRC Tells Justices Not To Overlook Accounting Standards
Mo. Senate Panel OKs Nix Of Corp., Personal Income Taxes
4 High Court Tax Decisions Justice Breyer Helped Shape
Justice Stephen Breyer, who announced his retirement from the U.S. Supreme Court on Thursday, was not a prolific author of tax-related opinions during his tenure, but nevertheless penned several decisions that established important principles in criminal and civil tax law. Here, Law360 takes a closer look at some of those cases.
HMRC Tells Justices Not To Overlook Accounting Standards
Judges shouldn't overlook accounting standards to enable subsidiaries to claim a parent company's accounting debits from granting options the companies purchased for employees through a benefit program using intercompany transactions, HM Revenue & Customs told the U.K.'s top court.
Mo. Senate Panel OKs Nix Of Corp., Personal Income Taxes
Missouri would eliminate its corporate income tax next year and phase out its personal income tax in the coming few decades, subject to revenue triggers, under two bills approved Thursday by the state Senate Ways and Means Committee.
Featured Stories
Justice Stephen Breyer, who announced his retirement from the U.S. Supreme Court on Thursday, was not a prolific author of tax-related... (more story)
Justice Stephen Breyer is retiring from the U.S. Supreme Court at a time when his conservative colleagues on the bench seem intent on ... (more story)
U.S. partnerships that hold stock in passive foreign investment companies would see individual partners become responsible for certain... (more story)
Federal More
Justice Stephen Breyer on Thursday formally announced he would be retiring at the end of the Supreme Court term. Here, The Term breaks down the legacy he will leave behind and takes a look at what lies ahead f... (more story)
The IRS wrongly taxed a Massachusetts cannabis grower on over $2 million in costs that should be subtracted from income, the business told the U.S. Tax Court, claiming the agency unlawfully barred marijuana bu... (more story)
A New York Uber Eats customer dropped a proposed class action Thursday that claimed the delivery service overcharged customers because of how it calculates sales taxes with its promotions.
Valvoline's former parent company can't force it to claim and reimburse it with $29 million in tax benefits after a New York federal judge found an agreement between the businesses didn't clearly require the u... (more story)
The upcoming vacancy on the U.S. Supreme Court quickly threw the spotlight back on D.C. Circuit Judge Ketanji Brown Jackson, a former clerk for Justice Stephen Breyer whose stature as a likely successor to the... (more story)
Supreme Court Justice Stephen Breyer joined President Joe Biden at the White House Thursday to formally announce his retirement, kicking off a rush among Democrats to confirm a new member of the court to repla... (more story)
A Tennessee federal judge denied dismissal motions Wednesday from some Internal Revenue Service agents in a suit over an immigration raid on a meatpacking plant, ruling that the claims are not time-barred beca... (more story)
State & Local More
RI High Court Upholds Conveyance Tax Exemption For Mall
The transfer of a Rhode Island mall between two partnerships authorized by the state to operate the property is exempt from conveyance taxes because lawmakers intended that tax benefits apply to the mall's ope... (more story)
Democrats Plan Swift Confirmation Of Breyer Successor
The U.S. Senate's Democratic leaders pledged Wednesday to move swiftly to confirm a successor for U.S. Supreme Court Justice Stephen Breyer, who is expected to formally announce his retirement Thursday.
NY AG Seeks To Toss Trump's Challenge To Business Probe
New York Attorney General Letitia James on Wednesday urged a New York federal court to toss former President Donald Trump's suit seeking to halt her investigations into his business activities and inquiring wh... (more story)
Mass. Gov. Floats $700M In Tax Breaks In 2023 Budget
Massachusetts Gov. Charlie Baker proposed $700 million in tax relief to seniors, low-income families and residents Wednesday, including eliminating income taxes for the lowest-paid 230,000 taxpayers.
Mississippi Lawmakers Send Medical Pot Bill To Governor
Mississippi lawmakers on Wednesday approved a medical marijuana bill, sending the legislation to Republican Gov. Tate Reeves' desk with broad enough support to override a veto and positioning the state to beco... (more story)
FedEx Investor Urges Del. Justices To Reverse Chancery Toss
A FedEx Corp. stockholder who sued the company's board for failure to respond to illegal cigarette shipments tried to convince Delaware's Supreme Court Wednesday to reverse the dismissal of her case, saying th... (more story)
Meet The Possible Nominees For Justice Breyer's Seat
President Joe Biden has promised to nominate the first-ever Black woman to the nation's highest court. Here we look at the contenders for Justice Stephen Breyer's seat, including one notable front-runner.
The transfer of a Rhode Island mall between two partnerships authorized by the state to operate the property is exempt from conveyance taxes because lawmakers intended that tax benefits apply to the mall's ope... (more story)
The U.S. Senate's Democratic leaders pledged Wednesday to move swiftly to confirm a successor for U.S. Supreme Court Justice Stephen Breyer, who is expected to formally announce his retirement Thursday.
New York Attorney General Letitia James on Wednesday urged a New York federal court to toss former President Donald Trump's suit seeking to halt her investigations into his business activities and inquiring wh... (more story)
Massachusetts Gov. Charlie Baker proposed $700 million in tax relief to seniors, low-income families and residents Wednesday, including eliminating income taxes for the lowest-paid 230,000 taxpayers.
Mississippi lawmakers on Wednesday approved a medical marijuana bill, sending the legislation to Republican Gov. Tate Reeves' desk with broad enough support to override a veto and positioning the state to beco... (more story)
A FedEx Corp. stockholder who sued the company's board for failure to respond to illegal cigarette shipments tried to convince Delaware's Supreme Court Wednesday to reverse the dismissal of her case, saying th... (more story)
President Joe Biden has promised to nominate the first-ever Black woman to the nation's highest court. Here we look at the contenders for Justice Stephen Breyer's seat, including one notable front-runner.
International More
ECJ Adviser Says GE Vouchers May Be Subject To VAT
Retail vouchers that GE Aircraft Engine Services Ltd. awarded to high-performing employees may be taxable under the European Union's common system of value-added tax if certain criteria are met, an adviser to ... (more story)
Taylor Wessing May Face Expanded Suit Over Tax Advice
Two of Norway's richest men asked a court Thursday to expand their £11 million ($14.7 million) lawsuit accusing Taylor Wessing and Moore Stephens of failing to respond to changes in how the government taxes U.... (more story)
ECJ Rules Spanish Disclosure Statute Violates EU Law
A Spanish law that requires taxpayers to declare assets held outside the country or face steep fines violates European Union laws guaranteeing the free movement of capital, Europe's highest court ruled Thursday.
IRS Outmatched On Partnership Matters, Rettig Says
Despite recent gains in hiring, the Internal Revenue Service still can easily find itself outmatched when it comes to complex issues involving partnerships, Commissioner Chuck Rettig said Wednesday.
UK Top Court Asked To Set Aside Book Rules For Profits
Lower courts correctly found two subsidiaries can deduct accounting debits from their parent company's stock option grants to employees when calculating profits for corporate tax, despite international account... (more story)
Oil Co. Says Ecuador Has No Excuses In $393M Award Fight
A Bahamian oil company has asked a D.C. federal court to enforce an entire $393 million arbitral award against Ecuador, arguing the country's attempts to chisel down the award through tax claims is a dubious a... (more story)
Court Wrongly Ran Own Numbers In FBAR Row, 11th Circ. Says
The IRS must recalculate penalties it assessed against a Florida man who failed to disclose his foreign bank accounts after the Eleventh Circuit found that a lower court wrongly substituted the agency's calcul... (more story)
Retail vouchers that GE Aircraft Engine Services Ltd. awarded to high-performing employees may be taxable under the European Union's common system of value-added tax if certain criteria are met, an adviser to ... (more story)
Two of Norway's richest men asked a court Thursday to expand their £11 million ($14.7 million) lawsuit accusing Taylor Wessing and Moore Stephens of failing to respond to changes in how the government taxes U.... (more story)
A Spanish law that requires taxpayers to declare assets held outside the country or face steep fines violates European Union laws guaranteeing the free movement of capital, Europe's highest court ruled Thursday.
Despite recent gains in hiring, the Internal Revenue Service still can easily find itself outmatched when it comes to complex issues involving partnerships, Commissioner Chuck Rettig said Wednesday.
Lower courts correctly found two subsidiaries can deduct accounting debits from their parent company's stock option grants to employees when calculating profits for corporate tax, despite international account... (more story)
A Bahamian oil company has asked a D.C. federal court to enforce an entire $393 million arbitral award against Ecuador, arguing the country's attempts to chisel down the award through tax claims is a dubious a... (more story)
The IRS must recalculate penalties it assessed against a Florida man who failed to disclose his foreign bank accounts after the Eleventh Circuit found that a lower court wrongly substituted the agency's calcul... (more story)