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6th Circ. Judge Skeptical Of IRS In $24M Air Excise Tax Case
A Sixth Circuit judge expressed confusion Thursday at the IRS' defense of a $24 million air transportation excise tax on monthly management fees paid to a private aviation company after a government attorney conceded that initial ownership payments should also have been taxed.
NYC Comptroller Says Tax On 2nd Homes May Bring In $500M
A proposed tax on some second homes valued at over $5 million in New York City may bring in as much as $500 million initially, but that figure may be reduced in future years, the city's comptroller said in a report released Thursday.
Germany's Budget Plan Sets Stage For Income Tax Changes
Germany shared an outline Wednesday for its 2027 budget that includes income tax relief for low and midlevel earners.
6th Circ. Judge Skeptical Of IRS In $24M Air Excise Tax Case
A Sixth Circuit judge expressed confusion Thursday at the IRS' defense of a $24 million air transportation excise tax on monthly management fees paid to a private aviation company after a government attorney conceded that initial ownership payments should also have been taxed.
NYC Comptroller Says Tax On 2nd Homes May Bring In $500M
A proposed tax on some second homes valued at over $5 million in New York City may bring in as much as $500 million initially, but that figure may be reduced in future years, the city's comptroller said in a report released Thursday.
Germany's Budget Plan Sets Stage For Income Tax Changes
Germany shared an outline Wednesday for its 2027 budget that includes income tax relief for low and midlevel earners.
Federal More
As public and media scrutiny of the data center industry intensifies, regulators, enforcement authorities and Congress will likely focus on accounting judgments that rely on aggressive assumptions, opaque fina... (more story)
Kostelanetz LLP has hired a former chief of the U.S. Internal Revenue Service's law enforcement branch who spent more than 30 years there investigating tax and financial crime, domestically and abroad, the fir... (more story)
A plastics company is appealing a Texas district court's decision to partially vacate IRS regulations that listed captive insurance as potentially abusive tax avoidance schemes and will ask the Fifth Circuit t... (more story)
The Internal Revenue Service failed to assess how final regulations implementing the 2017 tax law's global intangible low-taxed income regime would affect small businesses, an Israeli law firm told the D.C. fe... (more story)
A Florida federal jury on Friday found former Florida congressman David Rivera guilty of failing to register as a foreign agent after signing a $50 million contract with a unit of Venezuela's state-owned oil company.
The U.S. will grant imported whiskey from the United Kingdom preferential tariff treatment following the visit to the U.S. by King Charles and Queen Camilla, President Donald Trump said on social media Thursday.
President Donald Trump signed an executive order Thursday aimed at expanding workers' access to a low-cost retirement plan via a new government website, touting a $1,000 federal contribution match available un... (more story)
State & Local More
Do Androids Dream Of Paying No Taxes? SALT In Review
From tax incentives for data centers to Washington state's new income tax on high earners, RSM's David Brunori offers his thoughts on noteworthy state and local tax news.
Ohio Panel Strikes Curbs On 3rd-Party Tax Complaints
Additional restrictions on third parties filing complaints about property valuation in Ohio violate the state's constitution, an Ohio appellate panel found.
Pa. Justices Find Borough's Stormwater Charge Is Tax
A Pennsylvania university that was charged by a borough for stormwater management services doesn't owe the amount assessed because the charges constitute a tax that the university is exempt from paying, the st... (more story)
Improving Well-Being In Law, 10 Years After Landmark Study
An important 2016 study revealed significant substance abuse and mental health issues among lawyers, and while the findings helped normalize the conversation around these topics, a decade later, structural ch... (more story)
Calif. Billionaire Tax Backers Say They Have 1.6M Signatures
Supporters of a referendum that calls for a 5% tax to be levied once on the wealth of California billionaires said they are closer to getting their measure on the November ballot as they are ready to turn in n... (more story)
Over 11 Million Imports Entered For Tariff Refunds, CBP Says
Importers have successfully submitted more than 11.2 million entries to Customs and Border Protection's tariff refund system, and more than 1.7 million imports have been validated and are ready for refunds, a ... (more story)
Attys, Advocates Call DOJ Pot Rule Historic Shift For Feds
Legal strategies are evolving quickly in the wake of last week's "historic" rescheduling of state-legal medical cannabis, as a group of attorneys and advocates gathered Monday to evaluate the trade-offs of dis... (more story)
From tax incentives for data centers to Washington state's new income tax on high earners, RSM's David Brunori offers his thoughts on noteworthy state and local tax news.
Additional restrictions on third parties filing complaints about property valuation in Ohio violate the state's constitution, an Ohio appellate panel found.
A Pennsylvania university that was charged by a borough for stormwater management services doesn't owe the amount assessed because the charges constitute a tax that the university is exempt from paying, the st... (more story)
An important 2016 study revealed significant substance abuse and mental health issues among lawyers, and while the findings helped normalize the conversation around these topics, a decade later, structural ch... (more story)
Supporters of a referendum that calls for a 5% tax to be levied once on the wealth of California billionaires said they are closer to getting their measure on the November ballot as they are ready to turn in n... (more story)
Importers have successfully submitted more than 11.2 million entries to Customs and Border Protection's tariff refund system, and more than 1.7 million imports have been validated and are ready for refunds, a ... (more story)
Legal strategies are evolving quickly in the wake of last week's "historic" rescheduling of state-legal medical cannabis, as a group of attorneys and advocates gathered Monday to evaluate the trade-offs of dis... (more story)
International More
UK Man Agrees To Guilty Plea In $60M Tax Evasion Scheme
A former business executive has agreed to plead guilty to conspiracy to defraud the Internal Revenue Service, following an order to extradite him to the U.S. over allegations that he and five other men helped ... (more story)
UK Leads OECD In Taxing Wealth, Think Tank Says
The U.K. raises more revenue from taxes on wealth than any other country in the Organization for Economic Cooperation and Development, and implementing a wealth tax wouldn't generate as much money as existing ... (more story)
5th Circ. Tosses FCA Suit Against IT Firm Over Visa Fraud
The Fifth Circuit upheld the dismissal of a man's claims that an India-based information technology and professional services firm violated the False Claims Act via fraudulent visa applications and improper ta... (more story)
More UK Businesses Face Crisis Over Taxes, War, Report Says
The number of U.K. businesses near collapse increased by almost 37% with rising taxes ahead of the economic fallout of the Iran war, an insolvency firm warned in a report Wednesday.
Korean Court Cancels $46.6M Of Netflix's Tax Bill, Report Says
Netflix on Tuesday secured the cancellation of 68.7 billion won ($46.6 million) in taxes imposed by the Korean government in a dispute over the characterization of payments to a Dutch subsidiary, in a partial ... (more story)
Floridian Waived Jury Rights In $20M FBAR Case, Gov't Says
The U.S. government urged a Florida federal court to uphold a nearly $20 million tax judgment against a dual U.S.-German citizen for undisclosed foreign bank account information, arguing he "slept on his right... (more story)
Budget Tax Raid Fears Spurred Pension Withdrawals
Fears over a tax raid on pensions have led to a surge in Britons cashing out of their long-term savings in the run-up to Budget announcements, a consultancy found Tuesday.
A former business executive has agreed to plead guilty to conspiracy to defraud the Internal Revenue Service, following an order to extradite him to the U.S. over allegations that he and five other men helped ... (more story)
The U.K. raises more revenue from taxes on wealth than any other country in the Organization for Economic Cooperation and Development, and implementing a wealth tax wouldn't generate as much money as existing ... (more story)
The Fifth Circuit upheld the dismissal of a man's claims that an India-based information technology and professional services firm violated the False Claims Act via fraudulent visa applications and improper ta... (more story)
The number of U.K. businesses near collapse increased by almost 37% with rising taxes ahead of the economic fallout of the Iran war, an insolvency firm warned in a report Wednesday.
Netflix on Tuesday secured the cancellation of 68.7 billion won ($46.6 million) in taxes imposed by the Korean government in a dispute over the characterization of payments to a Dutch subsidiary, in a partial ... (more story)
The U.S. government urged a Florida federal court to uphold a nearly $20 million tax judgment against a dual U.S.-German citizen for undisclosed foreign bank account information, arguing he "slept on his right... (more story)
Fears over a tax raid on pensions have led to a surge in Britons cashing out of their long-term savings in the run-up to Budget announcements, a consultancy found Tuesday.