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EU Electricity Tax Proposal Lacks Legal Basis, Germany Says
A European Union proposal to put an electricity tax change to a majority vote — rather than seeking member states' unanimous approval — is likely illegal and should therefore be dropped, according to a letter written by a German government official and seen Thursday by Law360.
New CFC Levy Doesn't Tax Foreign Income, MTC Reps Say
States can piggyback off the federal government's new tax treatment for income from controlled foreign corporations without bringing foreign income into their tax bases, Multistate Tax Commission representatives said Wednesday.
Ruling May Further Erode IRS' Post-Loper Bright Authority
The U.S. Court of Federal Claims recently held that a general congressional grant of authority by itself cannot support tax regulations, potentially weakening a foothold the IRS had planned to use after the U.S. Supreme Court's 2024 Loper Bright ruling.
EU Electricity Tax Proposal Lacks Legal Basis, Germany Says
A European Union proposal to put an electricity tax change to a majority vote — rather than seeking member states' unanimous approval — is likely illegal and should therefore be dropped, according to a letter written by a German government official and seen Thursday by Law360.
New CFC Levy Doesn't Tax Foreign Income, MTC Reps Say
States can piggyback off the federal government's new tax treatment for income from controlled foreign corporations without bringing foreign income into their tax bases, Multistate Tax Commission representatives said Wednesday.
Ruling May Further Erode IRS' Post-Loper Bright Authority
The U.S. Court of Federal Claims recently held that a general congressional grant of authority by itself cannot support tax regulations, potentially weakening a foothold the IRS had planned to use after the U.S. Supreme Court's 2024 Loper Bright ruling.
Federal More
New York prosecutors told a state appellate court that President Donald Trump's 34-count felony conviction for falsifying business records is "unaffected" by the U.S. Supreme Court's watershed presidential imm... (more story)
A New York trial judge erred in rejecting a retirement-fund garnishment deal that would have protected Martin Shkreli's convicted former lawyer from tax penalties, the Second Circuit ruled Wednesday.
The U.S. Supreme Court’s recent decision in Pung v. Isabella County, Michigan, that taxpayers are not entitled to fair market value of real property seized to satisfy a tax debt shifts attention to the fairnes... (more story)
Democrats in the Senate Finance Committee introduced legislation Wednesday that they said would officially sink the portion of President Donald Trump's settlement of his suit against the IRS that grants him im... (more story)
The owner of a chemical processing company was sentenced to 10 months in prison for failing to pay federal taxes, according to court filings, after his company pled guilty in the same case to polluting a North Carolina river.
Bressler Amery & Ross PC announced Wednesday that the firm has added three attorneys in Alabama, Florida and New Jersey to bolster its capabilities in commercial litigation, insurance defense, tax, trusts and estates.
The Internal Revenue Service appropriately denied a whistleblower award to an individual alleging that retail giant Target underpaid taxes by not following transfer pricing regulations, the U.S. government tol... (more story)
State & Local More
Property's $108M Valuation Unfounded, Minn. Justices Told
The Minnesota Tax Court's $108 million valuation of a Minneapolis office building is not backed by the evidence, the building owner told the Minnesota Supreme Court, asserting that the local assessor's apprais... (more story)
4 Firms Steer Grant Thornton's $5B Agreement To Buy CBIZ
New Mountain Capital-backed Grant Thornton Advisors said Wednesday it has agreed to acquire CBIZ Inc. in a deal worth $5 billion, including debt, that would create a top-five U.S. provider of professional, tax... (more story)
States' Patchwork Digital Taxes Spur MTC Guide Plan
States are trying so many ways to tax digital media and online products that the Multistate Tax Commission will plan to create a briefing book explaining what the taxes are, how states have implemented them an... (more story)
MTC Group Nears Model Act On State Partnership Taxes
The Multistate Tax Commission group working on uniform rules for the state taxation of partnerships said Tuesday that it is preparing a combined draft model act that focuses on investment partnerships, guarant... (more story)
Wash. AG's Income Tax Repeal Ballot Language Challenged
Political action committee Let's Go Washington on Monday launched a legal challenge to the Evergreen State attorney general's wording of a November ballot measure that would repeal a recently passed 9.9% tax o... (more story)
Judges On AI: Examining Administrative, Organizational Uses
U.S. District Judge Alan Albright of the Western District of Texas examines how artificial intelligence could transform a court's ability to deal with administrative work and organize materials when preparing ... (more story)
Ala. Court Upholds Denial Of Film Production Tax Breaks
The denial of Alabama tax incentives claimed by a film production was not subject to judicial review under the state's law on administrative procedures, a state appeals court said Friday, affirming the actions... (more story)
The Minnesota Tax Court's $108 million valuation of a Minneapolis office building is not backed by the evidence, the building owner told the Minnesota Supreme Court, asserting that the local assessor's apprais... (more story)
New Mountain Capital-backed Grant Thornton Advisors said Wednesday it has agreed to acquire CBIZ Inc. in a deal worth $5 billion, including debt, that would create a top-five U.S. provider of professional, tax... (more story)
States are trying so many ways to tax digital media and online products that the Multistate Tax Commission will plan to create a briefing book explaining what the taxes are, how states have implemented them an... (more story)
The Multistate Tax Commission group working on uniform rules for the state taxation of partnerships said Tuesday that it is preparing a combined draft model act that focuses on investment partnerships, guarant... (more story)
Political action committee Let's Go Washington on Monday launched a legal challenge to the Evergreen State attorney general's wording of a November ballot measure that would repeal a recently passed 9.9% tax o... (more story)
U.S. District Judge Alan Albright of the Western District of Texas examines how artificial intelligence could transform a court's ability to deal with administrative work and organize materials when preparing ... (more story)
The denial of Alabama tax incentives claimed by a film production was not subject to judicial review under the state's law on administrative procedures, a state appeals court said Friday, affirming the actions... (more story)
International More
Airbus Pays HMRC £6.4M Over Export Control Breaches
Aerospace giant Airbus reached an agreement with the U.K. tax authority to pay £6.4 million ($8.6 million) to settle claims that the company breached export control rules, the agency announced Thursday.
Burnham Not Ruling Out Tax Hikes For Social Care Plan
U.K. Prime Minister Andy Burnham declined Wednesday to rule out tax hikes to recoup the costs of a new national care service to address problems related to social care in Britain.
Trade Unions Urge Burnham Toward Higher Taxes On Banks
U.K. Prime Minister Andy Burnham should back higher taxes on banks following Barclays Group's financial results, a group of trade unions urged Tuesday.
Tax Court Ruling Doesn't Help Liberty Global, 10th Circ. Told
A recent U.S. Tax Court decision that tossed IRS regulations doesn't help Liberty Global's bid for a $2.4 billion deduction under the same statute, the federal government told the Tenth Circuit, arguing that t... (more story)
Crypto Hedge Fund Manager Gets 3 Years For Tax Evasion
A crypto hedge fund manager who renounced his U.S. citizenship and moved to the Cayman Islands was sentenced to over three years in prison for tax evasion, the U.S. Attorney's Office for the Western District o... (more story)
UK Court Cuts Penalties, Upholds Bans Over Pensions Advice
A U.K. appeals court upheld the Financial Conduct Authority's decision to ban a company director and pensions adviser from the financial services sector but reduced the watchdog's penalty assessment, holding M... (more story)
Tax Evasion Charges Brought In Wrong Court, DC Judge Says
A Washington, D.C., federal judge dismissed charges accusing a man of tax evasion in years he worked overseas, agreeing with him that D.C. court wasn't the proper venue because an essential element of the alle... (more story)
Aerospace giant Airbus reached an agreement with the U.K. tax authority to pay £6.4 million ($8.6 million) to settle claims that the company breached export control rules, the agency announced Thursday.
U.K. Prime Minister Andy Burnham declined Wednesday to rule out tax hikes to recoup the costs of a new national care service to address problems related to social care in Britain.
U.K. Prime Minister Andy Burnham should back higher taxes on banks following Barclays Group's financial results, a group of trade unions urged Tuesday.
A recent U.S. Tax Court decision that tossed IRS regulations doesn't help Liberty Global's bid for a $2.4 billion deduction under the same statute, the federal government told the Tenth Circuit, arguing that t... (more story)
A crypto hedge fund manager who renounced his U.S. citizenship and moved to the Cayman Islands was sentenced to over three years in prison for tax evasion, the U.S. Attorney's Office for the Western District o... (more story)
A U.K. appeals court upheld the Financial Conduct Authority's decision to ban a company director and pensions adviser from the financial services sector but reduced the watchdog's penalty assessment, holding M... (more story)
A Washington, D.C., federal judge dismissed charges accusing a man of tax evasion in years he worked overseas, agreeing with him that D.C. court wasn't the proper venue because an essential element of the alle... (more story)