Tax Court Says Civil Fraud Penalty Cases Don't Require Juries
The U.S. Tax Court rejected Thursday a Mississippi partnership's bid, based on the Supreme Court's landmark 2024 decision requiring a jury to adjudicate common law fraud penalties, to dismiss civil fraud penalties the IRS imposed on a conservation easement transaction.
Colorado Bills Would Prune Biz Tax Breaks In Special Session
Colorado lawmakers advanced legislation Thursday that supporters said would close tax loopholes and, along with spending cuts, kicked off a special session called by Gov. Jared Polis to address budget shortfalls he said would otherwise result from federal policy changes.
G7 Deal May Undermine Global Minimum Tax Enforcement
The U.S. government's agreement with the Group of Seven nations to effectively exempt American companies from the 15% global minimum tax may hollow out enforcement of the international regime, in part because other multinational corporations may pursue similar treatment.
Tax Court Says Civil Fraud Penalty Cases Don't Require Juries
The U.S. Tax Court rejected Thursday a Mississippi partnership's bid, based on the Supreme Court's landmark 2024 decision requiring a jury to adjudicate common law fraud penalties, to dismiss civil fraud penalties the IRS imposed on a conservation easement transaction.
Colorado Bills Would Prune Biz Tax Breaks In Special Session
Colorado lawmakers advanced legislation Thursday that supporters said would close tax loopholes and, along with spending cuts, kicked off a special session called by Gov. Jared Polis to address budget shortfalls he said would otherwise result from federal policy changes.
G7 Deal May Undermine Global Minimum Tax Enforcement
The U.S. government's agreement with the Group of Seven nations to effectively exempt American companies from the 15% global minimum tax may hollow out enforcement of the international regime, in part because other multinational corporations may pursue similar treatment.
Federal More
A claim by the owner of a check-cashing business that he only meant to hide a foreign bank account from his wife during divorce proceedings doesn't excuse his failure to report the money to the Internal Revenu... (more story)
The European Union and the U.S. have agreed on new terms to the trade agreement to eliminate EU tariffs on U.S. industrial products and implement a 15% U.S. tariff cap for most other sectors, according to a jo... (more story)
A deputy international tax counsel for the U.S. Department of the Treasury has been elevated to serve as acting counsel, he said in a post on LinkedIn.
The IRS contractor appealing his five-year prison sentence for leaking thousands of wealthy people's tax returns to the media accused the U.S. of glossing over sentencing errors that unfairly burdened him with... (more story)
A government attorney seeking to stop a couple from challenging their tax bill in the U.S. Tax Court urged the Eighth Circuit not to follow the Second Circuit's recent determination that the 90-day petition fi... (more story)
A Florida investor who admitted to cheating the Internal Revenue Service out of $7 million in taxes was sentenced Wednesday to probation after telling a federal judge he suffers from serious health issues, inc... (more story)
Morris Manning & Martin LLP is facing allegations of racketeering and tax fraud in a suit brought in Georgia state court by three investors that names a number of professional services firms.
State & Local More
Property Owners Say SF Vacancy Tax Violates Rights
A San Francisco levy on vacant residential units is not a tax, but a penalty, and violates property owners' constitutional rights to keep their private property from being taken for public use without just com... (more story)
NY Tax Talk: ALJ Vacancy, Online Sales, Budget
Among the most notable developments in New York tax law last quarter, an administrative law judge vacancy continued affecting taxpayers, a state court decision tested the scope of the Interstate Income Act, an... (more story)
NY Appeals Court Throws Out Trump's $500M Fraud Penalty
A divided New York state appeals court panel on Thursday tossed a nearly $500 million civil fraud penalty against President Donald Trump and his sons, companies and their executives, ruling that the fine was "... (more story)
Nutter Welcomes Tax Atty In NY From Fox Horan
Less than a month after announcing it had grown its ranks by 8% with the addition of 13 attorneys in three states, Nutter McClennen & Fish LLP said earlier this week that it has hired a New York-based tax atto... (more story)
What 2 Profs Noticed As Transactional Law Students Used AI
After a semester using generative artificial intelligence tools with students in an entrepreneurship law clinic, we came away with numerous observations about the opportunities and challenges such tools presen... (more story)
IRS Sharing Tax Info With ICE Amid Legal Challenge
The Internal Revenue Service has begun sharing taxpayer return information with U.S. Immigration and Customs Enforcement, the government told a D.C. federal court, revising the tax agency's previous stance tha... (more story)
BigLaw Settlements Should Not Spur Ethics Deregulation
A recent Law360 op-ed argued that loosening law firm funding restrictions would make BigLaw firms less inclined to settle with the Trump administration, but deregulating legal financing ethics may well prove t... (more story)
New Jersey AG Slams Power Broker's 'Flawed' Appeal Brief
South Jersey power broker George Norcross used a flawed argument in pushing back against New Jersey's effort to revive a dismissed criminal case against him, Attorney General Matthew Platkin has argued in a re... (more story)
Other People's Money: SALT In Review
From a proposed tax increase on higher incomes in Michigan to a move toward repealing Oregon's estate tax, RSM's David Brunori offers his thoughts on noteworthy state and local tax news.
A San Francisco levy on vacant residential units is not a tax, but a penalty, and violates property owners' constitutional rights to keep their private property from being taken for public use without just com... (more story)
Among the most notable developments in New York tax law last quarter, an administrative law judge vacancy continued affecting taxpayers, a state court decision tested the scope of the Interstate Income Act, an... (more story)
A divided New York state appeals court panel on Thursday tossed a nearly $500 million civil fraud penalty against President Donald Trump and his sons, companies and their executives, ruling that the fine was "... (more story)
Less than a month after announcing it had grown its ranks by 8% with the addition of 13 attorneys in three states, Nutter McClennen & Fish LLP said earlier this week that it has hired a New York-based tax atto... (more story)
After a semester using generative artificial intelligence tools with students in an entrepreneurship law clinic, we came away with numerous observations about the opportunities and challenges such tools presen... (more story)
The Internal Revenue Service has begun sharing taxpayer return information with U.S. Immigration and Customs Enforcement, the government told a D.C. federal court, revising the tax agency's previous stance tha... (more story)
A recent Law360 op-ed argued that loosening law firm funding restrictions would make BigLaw firms less inclined to settle with the Trump administration, but deregulating legal financing ethics may well prove t... (more story)
South Jersey power broker George Norcross used a flawed argument in pushing back against New Jersey's effort to revive a dismissed criminal case against him, Attorney General Matthew Platkin has argued in a re... (more story)
From a proposed tax increase on higher incomes in Michigan to a move toward repealing Oregon's estate tax, RSM's David Brunori offers his thoughts on noteworthy state and local tax news.
International More
Omni Bridgeway Looks To Enforce $13M Albania Award
Litigation funder Omni Bridgeway is urging a D.C. federal court to let it seize assets belonging to Albania as it looks to enforce an arbitral award now worth some $13 million that the country has ignored for ... (more story)
Prosecutors Can Hunt Lawyer's Assets In Castle Fraud Case
A London court ruled Thursday that prosecutors could go ahead with efforts to claw back money from a former lawyer who was imprisoned for more than a decade for defrauding an American property developer out of... (more story)
Health Insurance Uptick Fuels £123M Rise In UK Tax Revenue
Mounting pressure on Britain's public healthcare system is spurring the uptake of health insurance products and boosting government tax revenue, financial services consultancy Broadstone said Thursday.
Australia Offers Compliance Guidelines For New Debt Rules
The Australian Taxation Office published guidance Wednesday aimed at helping companies flag potential compliance risks as they reorganize in response to recent tax law changes that limit the amount of debt a c... (more story)
Ex-Chelsea Soccer Player Ordered To Pay £466K To HMRC
A former soccer player turned ESPN pundit must pay back nearly £466,000 ($628,300) in taxes on film company investments to HM Revenue & Customs, a London tribunal ruled.
Prosecutors Want £10.5M From Lawyer In Castle Fraud Case
A lawyer imprisoned for more than a decade for misappropriating money sent by an American property developer to buy a castle in Scotland owes his victims £10.5 million ($14 million), prosecutors told a London ... (more story)
Fed. Circ. Won't Revisit Steel Duties On German Companies
The Federal Circuit denied Tuesday a request for it to reconsider a precedential opinion upholding steel duties on German companies imposed after the U.S. Department of Commerce applied adverse facts available... (more story)
Litigation funder Omni Bridgeway is urging a D.C. federal court to let it seize assets belonging to Albania as it looks to enforce an arbitral award now worth some $13 million that the country has ignored for ... (more story)
A London court ruled Thursday that prosecutors could go ahead with efforts to claw back money from a former lawyer who was imprisoned for more than a decade for defrauding an American property developer out of... (more story)
Mounting pressure on Britain's public healthcare system is spurring the uptake of health insurance products and boosting government tax revenue, financial services consultancy Broadstone said Thursday.
The Australian Taxation Office published guidance Wednesday aimed at helping companies flag potential compliance risks as they reorganize in response to recent tax law changes that limit the amount of debt a c... (more story)
A former soccer player turned ESPN pundit must pay back nearly £466,000 ($628,300) in taxes on film company investments to HM Revenue & Customs, a London tribunal ruled.
A lawyer imprisoned for more than a decade for misappropriating money sent by an American property developer to buy a castle in Scotland owes his victims £10.5 million ($14 million), prosecutors told a London ... (more story)
The Federal Circuit denied Tuesday a request for it to reconsider a precedential opinion upholding steel duties on German companies imposed after the U.S. Department of Commerce applied adverse facts available... (more story)