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Siemens To Defend Restructuring, $3.5B Deduction At Trial
A U.S. subsidiary of German conglomerate Siemens is preparing to defend a $3.5 billion deduction stemming from transactions that the company said were needed to integrate a 2017 acquisition into its software business unit when its U.S. Tax Court trial begins Monday.
Colo. Ballot Push For Road Funding Ends After Deal Reached
A Colorado ballot measure seeking to shift hundreds of millions of dollars in state funds to road and highway projects will be withdrawn, backers said Thursday, because state officials have committed to a funding strategy for transportation needs.
Tax Pro Avoids Jail For Role In 'Singapore Solution' Fraud
A New York federal judge on Thursday allowed an English national to avoid prison for facilitating a $60 million tax evasion scheme, after he admitted helping wealthy clients move money from a Swiss bank through his Hong Kong financial services business.
Federal More
A New York federal judge on Friday again denied President Donald Trump's bid to move his criminal hush money conviction out of state court, finding as he did earlier that a federal law defense that Trump was o... (more story)
Chicagoland grocery chain owners' in-house insurance arrangement is a valid insurance transaction "and should be respected as such," they told the Seventh Circuit, saying their business should be allowed to cl... (more story)
To minimize their risk, employee retention credit providers and tax advisers should understand that agreements to extend clients’ two-year deadline for challenging disallowances are not effective until the IRS... (more story)
A Canadian charity cannot receive a tax refund from the Internal Revenue Service for U.S.-sourced dividend income from a unit trust because the U.S.-Canada tax treaty doesn't grant Canadian unit trusts that be... (more story)
Taekwondo has taught me to recognize when to fight for a position and when to focus on finding a solution, and that the best outcomes are often achieved by solving problems — all of which has improved my work ... (more story)
The U.S. Court of Federal Claims paused reviewing luxury automaker BMW's $38.4 million tax refund suit until an appeals court issues a decision in a similar case over the tolling of a COVID-19-era filing deadline.
A New York federal judge has tossed an attorney's wage and hour and race discrimination suit against Oklahoma-based Arnold & Smith Law, finding that the Eastern District of New York was the wrong venue because... (more story)
State & Local More
NJ Law Requires Data Centers To Report Utility Usage
New Jersey Gov. Mikie Sherrill signed a bill into law Thursday that requires data centers in the state to provide the New Jersey Board of Public Utilities with semiannual water and energy usage reports.
MARTA, Atlanta Reach $52M Deal In Lengthy Tax Dispute
The Metropolitan Atlanta Rapid Transit Authority and the city of Atlanta announced a $52 million settlement Thursday to end their yearslong dispute over the amount of sales tax proceeds allocated for its enhanced bus service.
Coffee Seller's Tax Suit Counterclaims Belong In Calif.
The founder of a California coffee equipment manufacturer asked a Colorado state court judge Monday to dismiss the bulk of counterclaims from the founder of a Colorado coffee equipment provider who allegedly h... (more story)
Texas Appeals Court Says Co.'s Gear Correct On Tax Rolls
A Texas appeals panel ruled Wednesday that a company's natural gas compressors leased in Frio County were correctly listed on that locality's tax rolls despite the company's claims that the equipment was asses... (more story)
Mastercard Says Pa. Sourcing Reg Would Subvert Uniformity
A proposed regulation from the Pennsylvania Department of Revenue would create a lack of uniformity between credit card companies and others regarding the sourcing of receipts, Mastercard told the department i... (more story)
OptumRx Seeks Quick Win In Apportionment Fight With Fla.
Florida's tax agency incorrectly excluded rebates for drugmakers from the sales factor of OptumRx, and the company's pharmacy benefit management services can't be sourced to Florida because they took place els... (more story)
Childcare Center Late To Claim Tax Break, Minn. Justices Told
A Minnesota childcare center failed to meet the statutory deadline for seeking a property tax exemption and was not entitled to judicial review of the tax break's denial, a county told the state Supreme Court,... (more story)
New Jersey Gov. Mikie Sherrill signed a bill into law Thursday that requires data centers in the state to provide the New Jersey Board of Public Utilities with semiannual water and energy usage reports.
The Metropolitan Atlanta Rapid Transit Authority and the city of Atlanta announced a $52 million settlement Thursday to end their yearslong dispute over the amount of sales tax proceeds allocated for its enhanced bus service.
The founder of a California coffee equipment manufacturer asked a Colorado state court judge Monday to dismiss the bulk of counterclaims from the founder of a Colorado coffee equipment provider who allegedly h... (more story)
A Texas appeals panel ruled Wednesday that a company's natural gas compressors leased in Frio County were correctly listed on that locality's tax rolls despite the company's claims that the equipment was asses... (more story)
A proposed regulation from the Pennsylvania Department of Revenue would create a lack of uniformity between credit card companies and others regarding the sourcing of receipts, Mastercard told the department i... (more story)
Florida's tax agency incorrectly excluded rebates for drugmakers from the sales factor of OptumRx, and the company's pharmacy benefit management services can't be sourced to Florida because they took place els... (more story)
A Minnesota childcare center failed to meet the statutory deadline for seeking a property tax exemption and was not entitled to judicial review of the tax break's denial, a county told the state Supreme Court,... (more story)
International More
EU Draft Tax Data Bill Eases US Access To Carveout
A draft of a European Union bill on tax data exchange seen Friday by Law360 emphasized that companies should not be barred from accessing a reporting carveout because they are headquartered in a Pillar Two sid... (more story)
Trade Sanctions Body Refers More Than 40 Cases To HMRC
The trade sanctions enforcer has revealed that it has referred almost 50 cases to law enforcement agencies and regulators for possible enforcement, including criminal prosecution, over the past year as its inv... (more story)
States Push EU Budget Cuts As Spending, Tax Talks Ramp Up
Six European Union countries called Thursday for the bloc's long-term budget draft to be cut by several hundred billion euros from the €2 trillion ($2.33 trillion) proposed by the European Commission.
EPPO Orders Arrests In €20M AirPods VAT Fraud Scheme
The European Public Prosecutor's Office said Wednesday that five people have been arrested in Czechia on suspicion of being part of a €20 million ($23.3 million) value-added tax fraud ring involving Apple AirP... (more story)
Albania Looks To Toss Judgment Enforcing $13M Award
Albania's state-owned oil company is urging a D.C. federal court to dismiss a default judgment enforcing a roughly $13 million arbitral award now owed to litigation funder Omni Bridgeway, saying the judgment w... (more story)
Romania Transfer Pricing Dispute Sent To Top EU Court
A Romanian court of appeal has asked the European Court of Justice to determine whether a national law requiring tax authorities to adjust transfer prices to the median value used by similar independent compan... (more story)
France May Extend Biz Tax To Relieve Economy, Minister Says
France's tax on large companies, originally intended as a temporary measure, could be extended into 2027 to ease economic pressures, the country's finance minister said.
A draft of a European Union bill on tax data exchange seen Friday by Law360 emphasized that companies should not be barred from accessing a reporting carveout because they are headquartered in a Pillar Two sid... (more story)
The trade sanctions enforcer has revealed that it has referred almost 50 cases to law enforcement agencies and regulators for possible enforcement, including criminal prosecution, over the past year as its inv... (more story)
Six European Union countries called Thursday for the bloc's long-term budget draft to be cut by several hundred billion euros from the €2 trillion ($2.33 trillion) proposed by the European Commission.
The European Public Prosecutor's Office said Wednesday that five people have been arrested in Czechia on suspicion of being part of a €20 million ($23.3 million) value-added tax fraud ring involving Apple AirP... (more story)
Albania's state-owned oil company is urging a D.C. federal court to dismiss a default judgment enforcing a roughly $13 million arbitral award now owed to litigation funder Omni Bridgeway, saying the judgment w... (more story)
A Romanian court of appeal has asked the European Court of Justice to determine whether a national law requiring tax authorities to adjust transfer prices to the median value used by similar independent compan... (more story)
France's tax on large companies, originally intended as a temporary measure, could be extended into 2027 to ease economic pressures, the country's finance minister said.