OECD Mulling Gov't-Only Dispute Panels, US Official Says
Calif. Will Send Out Checks Up To $1,050, Suspend Diesel Tax
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Min. Tax Reporting Form Likely This Year, OECD Official Says
OECD Mulling Gov't-Only Dispute Panels, US Official Says
The U.S. and OECD are considering how to compose review panels tasked with settling disputes under the global tax overhaul's reallocation of taxing rights given the broad support for limiting the panels to government officials, a Treasury official said Tuesday.
Calif. Will Send Out Checks Up To $1,050, Suspend Diesel Tax
More than half of Californians will get checks of up to $1,050 from the state government and the state will suspend its fuel tax on diesel for a year under a budget bill signed by Democratic Gov. Gavin Newsom.
Min. Tax Reporting Form Likely This Year, OECD Official Says
The Organization for Economic Cooperation and Development's global minimum tax plan should have more details on a proposed safe harbor as well as the form for reporting obligations before the end of the year, an OECD official said Tuesday.
Federal More
A dearth of affordable rental housing as well as new capital streams and government incentives are among the factors contributing to strong demand for attorneys who specialize in income-restricted housing deal... (more story)
A Danish pension fund asked Microsoft to let shareholders vote on publicly reporting its workers, payroll, revenue, profits and taxes in every country where the company operates, a U.K. corporate advisory firm... (more story)
A Texas federal court stayed an insurance coverage dispute Tuesday to allow time for the finalizing of a settlement among an attorney sued over his involvement in tax planning strategies scrutinized by the IRS... (more story)
Several U.S. pension plans shouldn't be allowed to escape a suit from Denmark's tax agency claiming they committed a $2.1 billion fraud, the agency told a New York federal court, arguing the case doesn't imper... (more story)
Latham & Watkins LLP partner Matthew Dewitz advised T-Mobile's blockbuster $59 billion merger with Sprint, Endeavor Group Holdings' acquisition of Ultimate Fighting Championship and Ortho Clinical Diagnostics ... (more story)
The U.S. Securities and Exchange Commission hit Ernst & Young LLP with a $100 million fine on Tuesday after the accounting giant admitted that its audit professionals cheated on certified public accountant lic... (more story)
The chairman of the Stanford International Bank has asked a federal judge in Dallas to toss the U.S. Securities and Exchange Commission's long-running litigation accusing him of using companies under his contr... (more story)
State & Local More
Ga. Panel Revives T-Mobile's $11M Equipment Tax Refund Bid
The Georgia Court of Appeals vacated a trial court's decision Tuesday that wiped out a roughly $11 million sales tax refund for T-Mobile, saying the court applied the wrong standard of review in finding certai... (more story)
Rising Star: Fried Frank's Shane C. Hoffmann
Shane C. Hoffmann of Fried Frank Harris Shriver & Jacobson LLP has navigated the complex tax law implications of business deals for major clients in several transactions, earning him a spot among the tax law p... (more story)
NY AG Says Trump Satisfied Order That Prompted Contempt
New York Attorney General Letitia James is "prepared to agree" that former President Donald Trump has satisfied a court order, which had led to his being found in contempt, in her probe into his business pract... (more story)
Advising A Cannabis Business Amid Patchwork Of Regs
As the cannabis industry continues to grow, so does its widely varied patchwork of local, state and federal regulation, and practitioners should familiarize themselves with the specific rules on tax, real esta... (more story)
Is NJ's Voluntary Transfer Pricing Initiative Really Voluntary?
The New Jersey Division of Taxation's voluntary transfer pricing audit initiative promises penalty abatement to taxpayers that elect to participate and agree to the division's proposed adjustments, but the eff... (more story)
Ariz. Ballot Measure Calls For 60% Approval On Tax Initiatives
Arizona voters will be asked in November to decide if ballot measures seeking to approve taxes in the state should require support by 60% of voters under a resolution passed by state lawmakers.
Taxation With Representation: Wachtell, Fenwick, Davis Polk
In this week's Taxation With Representation, Zendesk plans to be bought by investors, Mondelēz International struck a deal to buy Clif Bar & Co., TPG will take Convey Health Solutions private, and Gurnet Point... (more story)
Transfer Pricing In NJ, Franchise Tax In Okla.: SALT In Review
From New Jersey's new voluntary transfer pricing agreement program to a proposed ending of Oklahoma's franchise tax, RSM US LLP's David Brunori offers his thoughts on noteworthy state and local tax news.
Rising Star: Cravath's Andrew T. Davis
Andrew T. Davis of Cravath Swaine & Moore LLP has played a lead role in structuring billion-dollar acquisitions across the globe, including transactions involving companies based in Australia and the Netherlan... (more story)
The Georgia Court of Appeals vacated a trial court's decision Tuesday that wiped out a roughly $11 million sales tax refund for T-Mobile, saying the court applied the wrong standard of review in finding certai... (more story)
Shane C. Hoffmann of Fried Frank Harris Shriver & Jacobson LLP has navigated the complex tax law implications of business deals for major clients in several transactions, earning him a spot among the tax law p... (more story)
New York Attorney General Letitia James is "prepared to agree" that former President Donald Trump has satisfied a court order, which had led to his being found in contempt, in her probe into his business pract... (more story)
As the cannabis industry continues to grow, so does its widely varied patchwork of local, state and federal regulation, and practitioners should familiarize themselves with the specific rules on tax, real esta... (more story)
The New Jersey Division of Taxation's voluntary transfer pricing audit initiative promises penalty abatement to taxpayers that elect to participate and agree to the division's proposed adjustments, but the eff... (more story)
Arizona voters will be asked in November to decide if ballot measures seeking to approve taxes in the state should require support by 60% of voters under a resolution passed by state lawmakers.
In this week's Taxation With Representation, Zendesk plans to be bought by investors, Mondelēz International struck a deal to buy Clif Bar & Co., TPG will take Convey Health Solutions private, and Gurnet Point... (more story)
From New Jersey's new voluntary transfer pricing agreement program to a proposed ending of Oklahoma's franchise tax, RSM US LLP's David Brunori offers his thoughts on noteworthy state and local tax news.
Andrew T. Davis of Cravath Swaine & Moore LLP has played a lead role in structuring billion-dollar acquisitions across the globe, including transactions involving companies based in Australia and the Netherlan... (more story)
International More
Cisco Shareholders Ask For Vote On Reporting Global Taxes
Greater Manchester Pension Fund asked Cisco to let shareholders vote on publicly reporting workers, payroll, revenues, profits and taxes in every country in which it operates, a U.K. firm representing the pens... (more story)
Fintech Firm Wise Says CEO Being Probed By FCA
Money transfer giant Wise announced on Monday that its chief executive, Kristo Käärmann, is being investigated by the Financial Conduct Authority after he appeared on a list of deliberate tax defaulters.
Crypto Cases Attract IRS, Other Agencies, NY Prosecutor Says
Criminal investigations in the cryptocurrency space — for example, a bitcoin probe that led to recent money laundering charges — have allure across the law enforcement spectrum, including the Internal Revenue ... (more story)
HMRC Reports £32B Lost To Tax Compliance Failures
HM Revenue & Customs on Thursday reported £32 billion ($39 billion) lost to tax compliance failures for 2020-2021, or 5.1% of total estimated liabilities, a percentage it said was unchanged from the previous year.
Pandemic Sped Up Digitization Of Tax Systems, OECD Says
The COVID-19 pandemic hastened the adoption of online tax filing and other digital services across the globe while at the same time driving down tax revenue collections, according to an Organization for Econom... (more story)
States Progress In Training Staff On Transfer Pricing Issues
Louisiana and other states are successfully using third-party consultants to train auditors to handle complex transfer pricing matters and administer expedited results in transfer pricing disputes, the state's... (more story)
EU Parliament OKs Carbon Border Fee
The European Parliament overwhelmingly backed a proposal Wednesday to introduce a carbon border adjustment mechanism that would see companies pay a charge for importing carbon intensive goods.
Greater Manchester Pension Fund asked Cisco to let shareholders vote on publicly reporting workers, payroll, revenues, profits and taxes in every country in which it operates, a U.K. firm representing the pens... (more story)
Money transfer giant Wise announced on Monday that its chief executive, Kristo Käärmann, is being investigated by the Financial Conduct Authority after he appeared on a list of deliberate tax defaulters.
Criminal investigations in the cryptocurrency space — for example, a bitcoin probe that led to recent money laundering charges — have allure across the law enforcement spectrum, including the Internal Revenue ... (more story)
HM Revenue & Customs on Thursday reported £32 billion ($39 billion) lost to tax compliance failures for 2020-2021, or 5.1% of total estimated liabilities, a percentage it said was unchanged from the previous year.
The COVID-19 pandemic hastened the adoption of online tax filing and other digital services across the globe while at the same time driving down tax revenue collections, according to an Organization for Econom... (more story)
Louisiana and other states are successfully using third-party consultants to train auditors to handle complex transfer pricing matters and administer expedited results in transfer pricing disputes, the state's... (more story)
The European Parliament overwhelmingly backed a proposal Wednesday to introduce a carbon border adjustment mechanism that would see companies pay a charge for importing carbon intensive goods.