Justices Won't Hear Corporate Transparency Act Challenges
The U.S. Supreme Court on Monday declined to hear two cases challenging the Corporate Transparency Act, a law designed to establish a national beneficial ownership registry for law enforcement agencies investigating shell companies that was severely curtailed by the U.S. Department of the Treasury.
Justices Decline To Weigh Travel Co.'s Challenge To Wis. Tax
The U.S. Supreme Court declined on Monday to take up a travel company's claims that its provision of travel services sold by Wisconsin-based agents through an online portal qualified for a federal law's protections against state income tax.
State & Local Tax Takeaways From September
Action in the state and local tax world in September was centered in courthouses in Massachusetts, Texas, California and elsewhere. Here, Law360 looks at highlights from the past month.
Justices Won't Hear Corporate Transparency Act Challenges
The U.S. Supreme Court on Monday declined to hear two cases challenging the Corporate Transparency Act, a law designed to establish a national beneficial ownership registry for law enforcement agencies investigating shell companies that was severely curtailed by the U.S. Department of the Treasury.
Justices Decline To Weigh Travel Co.'s Challenge To Wis. Tax
The U.S. Supreme Court declined on Monday to take up a travel company's claims that its provision of travel services sold by Wisconsin-based agents through an online portal qualified for a federal law's protections against state income tax.
State & Local Tax Takeaways From September
Action in the state and local tax world in September was centered in courthouses in Massachusetts, Texas, California and elsewhere. Here, Law360 looks at highlights from the past month.
Federal More
A Los Angeles-based cryptocurrency businessman who called himself "The Godfather" was sentenced Monday to more than six years in prison and ordered to pay more than $23 million in restitution for getting Los A... (more story)
The U.S. Department of the Treasury's recent revenue ruling and notice cracking down on improper arrangements using legitimate exchange-traded fund conversions was a response to a marketed transaction that was... (more story)
Brazil's nascent transfer pricing system isn't yet prepared for an influx of advance pricing agreement requests, a tax specialist from that country said Monday, while a Canadian attorney said the APA process i... (more story)
A New Jersey bankruptcy judge determined on Monday that the buyers of seven summer camps owned by Simad Holdings Ltd. need not withhold taxes under rules governing the sale of U.S. property by foreign owners, ... (more story)
The Seventh Circuit upheld the dismissal of a former country club president's claim that the club filed a fraudulent information return with the IRS reporting a canceled debt, saying he failed to make a case f... (more story)
The IRS cannot deny Philippine Airlines a tax exemption on income from passengers and excess baggage just because the Philippines taxes cargo income, the airline told the U.S. Tax Court in a bid to cut more th... (more story)
Businesses that wait for direction from U.S. Customs and Border Protection or the courts before seeking refunds of their finally liquidated International Economic Emergency Procedure Act duties in court may fi... (more story)
State & Local More
Illinois' Curbs On Kalshi Sports Contracts Blocked For Now
An Illinois federal judge temporarily blocked the state from enforcing its gambling license requirements against Kalshi and Coinbase on Friday, saying that the companies' core sports betting contracts are like... (more story)
Bilzin Sumberg Expands Tax Practice With Nelson Mullins Atty
Bilzin Sumberg Baena Price & Axelrod LLP has expanded its tax and private wealth practice with the addition of a Miami-based partner from Nelson Mullins Riley & Scarborough LLP.
Minn. Court Wrong To OK Childcare Tax Break, County Says
A Minnesota childcare center missed a statutory filing deadline for a property tax break and thus should not be allowed the deduction, the state's largest county told the state Supreme Court, urging it to reve... (more story)
NJ Tax Court Axes Challenge To Internet Activity Tax Rules
The New Jersey Tax Court tossed a trade group's challenge to the state's regulations that outline when an out-of-state company's internet activities exceed a federal law's protections against state income taxe... (more story)
Signatures For Colo. Graduated Tax Plan Valid, Court Told
Signature gatherers for a Colorado ballot measure for graduated income tax rates followed all state laws aimed at preventing fraud, election officials and the measure's backers told a state court, urging it to... (more story)
The Courts Are There For A Reason: SALT In Review
From a challenge to Illinois' taxing of digital advertising and social media to the Montana governor's call for a flat income tax, RSM's David Brunori offers his thoughts on noteworthy state and local tax news.
Dems Slam Proposed Limit On Tax Credits For Immigrants
A group of Democratic senators urged the U.S. Department of the Treasury to scrap proposed rules that would cut off refundable tax credits to certain immigrants living in the U.S. legally, arguing that the gui... (more story)
An Illinois federal judge temporarily blocked the state from enforcing its gambling license requirements against Kalshi and Coinbase on Friday, saying that the companies' core sports betting contracts are like... (more story)
Bilzin Sumberg Baena Price & Axelrod LLP has expanded its tax and private wealth practice with the addition of a Miami-based partner from Nelson Mullins Riley & Scarborough LLP.
A Minnesota childcare center missed a statutory filing deadline for a property tax break and thus should not be allowed the deduction, the state's largest county told the state Supreme Court, urging it to reve... (more story)
The New Jersey Tax Court tossed a trade group's challenge to the state's regulations that outline when an out-of-state company's internet activities exceed a federal law's protections against state income taxe... (more story)
Signature gatherers for a Colorado ballot measure for graduated income tax rates followed all state laws aimed at preventing fraud, election officials and the measure's backers told a state court, urging it to... (more story)
From a challenge to Illinois' taxing of digital advertising and social media to the Montana governor's call for a flat income tax, RSM's David Brunori offers his thoughts on noteworthy state and local tax news.
A group of Democratic senators urged the U.S. Department of the Treasury to scrap proposed rules that would cut off refundable tax credits to certain immigrants living in the U.S. legally, arguing that the gui... (more story)
International More
White & Case Hits Back At Agency Over Flawed-Advice Claim
White & Case LLP has denied responsibility for £2.6 million ($3.4 million) in alleged tax liabilities, arguing that a lettings agency sought advice from Laytons LLP before deciding to pay millions in dividends... (more story)
IRS Leaked Whistleblower's Tax Info to DOJ, Agent's Suit Says
An agent in the IRS Criminal Investigation unit has accused the agency of leaking his personal tax information to the U.S. Department of Justice in retaliation against him for blowing the whistle on what he sa... (more story)
High Court Won't Consider $30M Argentine Bondholder Claim
Argentine bondholders claiming the Second Circuit wrongly upheld a block of over $30 million in contractual claims against Argentina won't get a chance to argue their stance at the U.S. Supreme Court, as the j... (more story)
EU Proposes Extension Of VAT Fraud-Fighting Tool
The European Union suggested extending a mechanism that permits a shift in value-added tax liability from seller to business customer in an attempt to tackle fraud until new digital reporting rules start in July 2030.
1M More Taxpayers To Face New Digital Filing Rules, UK Says
The U.K.'s tax authority urged sole traders and landlords Monday to get ready to comply with digital recordkeeping requirements by April, when more than 1 million more people will become subject to the rules u... (more story)
DOJ Can't Reverse IRS Curtailing Of $2.4M Penalty, Court Says
The Department of Justice lacked the authority to reverse the IRS' abatement of a man's penalty of nearly $2.4 million for promoting abusive tax shelters after the agency realized a supervisor hadn't signed of... (more story)
Former Fla. Rep. Gets 10 Years In Venezuela FARA Case
A Florida federal judge on Friday sentenced ex-Florida Rep. David Rivera to 10 years in prison for failing to register as a foreign agent and laundering the proceeds of a $50 million contract with a unit of Ve... (more story)
White & Case LLP has denied responsibility for £2.6 million ($3.4 million) in alleged tax liabilities, arguing that a lettings agency sought advice from Laytons LLP before deciding to pay millions in dividends... (more story)
An agent in the IRS Criminal Investigation unit has accused the agency of leaking his personal tax information to the U.S. Department of Justice in retaliation against him for blowing the whistle on what he sa... (more story)
Argentine bondholders claiming the Second Circuit wrongly upheld a block of over $30 million in contractual claims against Argentina won't get a chance to argue their stance at the U.S. Supreme Court, as the j... (more story)
The European Union suggested extending a mechanism that permits a shift in value-added tax liability from seller to business customer in an attempt to tackle fraud until new digital reporting rules start in July 2030.
The U.K.'s tax authority urged sole traders and landlords Monday to get ready to comply with digital recordkeeping requirements by April, when more than 1 million more people will become subject to the rules u... (more story)
The Department of Justice lacked the authority to reverse the IRS' abatement of a man's penalty of nearly $2.4 million for promoting abusive tax shelters after the agency realized a supervisor hadn't signed of... (more story)
A Florida federal judge on Friday sentenced ex-Florida Rep. David Rivera to 10 years in prison for failing to register as a foreign agent and laundering the proceeds of a $50 million contract with a unit of Ve... (more story)