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Siemens Wins Tax Deduction In IRS Rules Mismatch Case
Siemens Medical Solutions is allowed the full dividends-received deduction it claimed for 2019, the U.S. Tax Court held Wednesday, throwing out an IRS regulation that attempted to reduce the deduction by aligning the effective date of different provisions under 2017 tax legislation.
Ore. Biz Groups Sue Over Labor Dept. Expense Fund Bill
Oregon legislation to levy a new assessment on hourly wages to help fund the state Bureau of Labor and Industries was unconstitutionally enacted because three-fifths approval from each legislative chamber was required, business groups told the state tax court.
IRS Ethics Guidance Highlights AI Billing Tensions
Recent IRS ethics guidance urged attorneys to acknowledge the time-saving features of artificial intelligence when billing clients, underlining the legal industry's ongoing reckoning with how, or if, this technology fits into the traditional practice of charging by the hour.
Siemens Wins Tax Deduction In IRS Rules Mismatch Case
Siemens Medical Solutions is allowed the full dividends-received deduction it claimed for 2019, the U.S. Tax Court held Wednesday, throwing out an IRS regulation that attempted to reduce the deduction by aligning the effective date of different provisions under 2017 tax legislation.
Ore. Biz Groups Sue Over Labor Dept. Expense Fund Bill
Oregon legislation to levy a new assessment on hourly wages to help fund the state Bureau of Labor and Industries was unconstitutionally enacted because three-fifths approval from each legislative chamber was required, business groups told the state tax court.
IRS Ethics Guidance Highlights AI Billing Tensions
Recent IRS ethics guidance urged attorneys to acknowledge the time-saving features of artificial intelligence when billing clients, underlining the legal industry's ongoing reckoning with how, or if, this technology fits into the traditional practice of charging by the hour.
Federal More
Ashurst Perkins Coie announced Thursday that it has bolstered its tax practice with a Los Angeles-based partner who came aboard from Stradling Yocca Carlson & Rauth PC.
A 25% tariff on Brazilian goods will begin next week with an expanded exemption list following public comments on the action, U.S. Trade Representative Jamieson Greer announced.
The skills I've developed as a lifelong magician have translated directly into tangible benefits in the courtroom because performing magic and trying cases both live at the intersection of psychology, storytel... (more story)
The IRS' argument in support of its income allocations to Eaton Corp. from an Irish affiliate effectively inverts the arm's-length standard underlying U.S. transfer pricing law, seeking to price transactions b... (more story)
The U.S. Court of International Trade judge overseeing U.S. Customs and Border Protection's development of a duty refund system for tariffs struck down by the U.S. Supreme Court forecast new directions for the... (more story)
A North Carolina federal judge refused to reconsider his decision that the federal government's bid to collect on what it claimed was a couple's $24 million tax bill came too late, saying the government failed... (more story)
The Federal Circuit gave a Pennsylvania electrical contractor another chance to pursue a $1.53 million refund claim for penalties paid to the Internal Revenue Service after its owner pled guilty to criminal ta... (more story)
State & Local More
Title Co. Can't Keep Tax Refund, Wash. Panel Rules 2nd Time
A Washington appeals panel handed a win again to the state Department of Revenue, reversing a lower court order that the department owed an $11 million tax refund to a title insurance and settlement services company.
Minn. Tax Court Right On $108M Building Value, Justices Told
The Minnesota Tax Court operated within its discretion to give 80% weight to Hennepin County's appraisal of a Minneapolis office building and 20% to the owner's, the county told the state Supreme Court, urging... (more story)
Wash. Chief Justice Draws 3 Challengers In Bid For 4th Term
A former public defender, a naval officer-turned-tax attorney and a family law practitioner are each vying this election season to unseat a veteran Washington State Supreme Court justice who's penned some of t... (more story)
House Backs Bill To End Penny Minting, Round Cash Sales
The phaseout of the penny would become law and retailers would be able to round cash transactions up or down to the nearest 5-cent amount under a bill that the U.S. House passed Tuesday, sending it to the Senate.
NY Gov. Signs Data Center Moratorium Executive Order
New York Gov. Kathy Hochul has signed an executive order that blocks any new hyperscale data center projects from being built in her state by temporarily pausing environmental permits for those types of projec... (more story)
NJ Aims To Protect Ratepayers With Nuclear Power Guidelines
New Jersey Gov. Mikie Sherrill on Monday signed into law a bill intended to ensure consumers don't bear the costs of nuclear power projects needed to help address the growing demand for electricity driven prim... (more story)
2nd Circ. Rejects Bid To End NYC's Congestion Pricing
The Second Circuit on Monday upheld New York City's congestion pricing, rejecting two suburban counties' claims that Manhattan's congestion pricing tolls are discriminatory and unconstitutionally restrict moto... (more story)
A Washington appeals panel handed a win again to the state Department of Revenue, reversing a lower court order that the department owed an $11 million tax refund to a title insurance and settlement services company.
The Minnesota Tax Court operated within its discretion to give 80% weight to Hennepin County's appraisal of a Minneapolis office building and 20% to the owner's, the county told the state Supreme Court, urging... (more story)
A former public defender, a naval officer-turned-tax attorney and a family law practitioner are each vying this election season to unseat a veteran Washington State Supreme Court justice who's penned some of t... (more story)
The phaseout of the penny would become law and retailers would be able to round cash transactions up or down to the nearest 5-cent amount under a bill that the U.S. House passed Tuesday, sending it to the Senate.
New York Gov. Kathy Hochul has signed an executive order that blocks any new hyperscale data center projects from being built in her state by temporarily pausing environmental permits for those types of projec... (more story)
New Jersey Gov. Mikie Sherrill on Monday signed into law a bill intended to ensure consumers don't bear the costs of nuclear power projects needed to help address the growing demand for electricity driven prim... (more story)
The Second Circuit on Monday upheld New York City's congestion pricing, rejecting two suburban counties' claims that Manhattan's congestion pricing tolls are discriminatory and unconstitutionally restrict moto... (more story)
International More
German Court Convicts Former Banker In €320M Cum-Ex Case
A former banker at an Australian firm was convicted Thursday by a German court of attempting €320 million ($366 million) in tax evasion as part of a cum-ex dividend scandal, a court spokesperson told Law360.
Belgian Energy Revenue Cap Is Lawful, EU Court Adviser Says
An adviser to the European Union's top court backed Belgium's application of a bloc-wide mechanism for capping revenue collected by certain energy companies, concluding Thursday that the levy didn't deviate fr... (more story)
HMRC Resists Port Co.'s Claim To Broader Tax Allowances
HM Revenue & Customs pushed back Thursday against Liverpool's port operator over its claims that the construction costs of a quay wall qualify for capital allowances, arguing before the Upper Tribunal that the... (more story)
Frozen Thresholds Drag 10M UK Pensioners Into Paying Tax
The number of U.K. pensioners paying income tax has risen by three million in the five years since earning thresholds were frozen, government figures have revealed.
HMRC Seeks Retrial After Hung Jury In Tax KC Evasion Case
A judge discharged jurors on Thursday in HM Revenue and Customs' prosecution of a barrister for tax evasion after almost two weeks of deliberations in which the panel was unable to reach a verdict.
Energy Tax Applies To Propane Used For Tests, EU Court Says
The European Union's energy tax directive applies to propane used by a German company to test gas turbine burners, even though it wasn't burning the propane to generate heat per se except to test the burners, ... (more story)
Port Co. Defends Tax Claim On £57M Project At Upper Tribunal
Liverpool's port operator defended its claim at the Upper Tribunal on Wednesday to tax allowances on more than £57 million ($76.3 million) in construction costs after Britain's tax authority argued that the pr... (more story)
A former banker at an Australian firm was convicted Thursday by a German court of attempting €320 million ($366 million) in tax evasion as part of a cum-ex dividend scandal, a court spokesperson told Law360.
An adviser to the European Union's top court backed Belgium's application of a bloc-wide mechanism for capping revenue collected by certain energy companies, concluding Thursday that the levy didn't deviate fr... (more story)
HM Revenue & Customs pushed back Thursday against Liverpool's port operator over its claims that the construction costs of a quay wall qualify for capital allowances, arguing before the Upper Tribunal that the... (more story)
The number of U.K. pensioners paying income tax has risen by three million in the five years since earning thresholds were frozen, government figures have revealed.
A judge discharged jurors on Thursday in HM Revenue and Customs' prosecution of a barrister for tax evasion after almost two weeks of deliberations in which the panel was unable to reach a verdict.
The European Union's energy tax directive applies to propane used by a German company to test gas turbine burners, even though it wasn't burning the propane to generate heat per se except to test the burners, ... (more story)
Liverpool's port operator defended its claim at the Upper Tribunal on Wednesday to tax allowances on more than £57 million ($76.3 million) in construction costs after Britain's tax authority argued that the pr... (more story)