IRS CEO Touts GOP Law, Proclaims Success Of Tax Season
Internal Revenue Service chief executive officer Frank Bisignano told senators Wednesday that the 2026 tax filing season is on pace to be one of the agency's most successful while he highlighted taxpayer benefits tied to the Republicans' 2025 tax overhaul.
Hochul, Mamdani Pitch Tax On 2nd Homes In NYC
New York Gov. Kathy Hochul and New York City Mayor Zohran Mamdani announced a proposal Wednesday for a pied-à-terre tax on second homes in the city valued at $5 million or more as state lawmakers hammer out a budget.
Orsted Loses Top UK Court Case Over Wind Farm Tax Break
A Danish wind farm company cannot claim tax relief on pre-development costs for building wind farms, Britain's top court held Wednesday, ruling that the costs are not sufficiently connected to the provision of plants and machinery.
Federal More
Before launching its automated web portal to process tariff-refund disbursements on April 20, U.S. Customs and Border Protection should apply the expensive lessons learned from the pandemic-era employee retent... (more story)
The U.S. arguably has a stronger interest in challenging digital services taxes and other "quasi-tariffs" than in pursuing tariffs on physical goods, according a report Wednesday from the Tax Foundation, which... (more story)
A West Virginia federal judge has narrowed the evidence prosecutors can present at trial in a revived trade secret case against two former Deloitte employees, curtailing use of an internal investigative report... (more story)
The U.S. Tax Court can't disregard Eaton's transfer of a $14 billion asset overseas because the IRS itself didn't challenge the transaction's validity, the company argued Wednesday in defending the interest ra... (more story)
Three Texas partnerships challenged over $120 million in denied tax deductions for donations of conservation easements across land they said could be used for solar photovoltaic power plants, telling the U.S. ... (more story)
Two partnerships challenged the IRS in the U.S. Tax Court over penalties and additional taxes tied to separate conservation easement deductions, alleging the agency had failed to explain why it denied their $3... (more story)
U.S. Customs and Border Protection's automated tariff refund system is nearly complete, but thousands of imports may require a more cumbersome manual process that could undermine the agency's other priorities,... (more story)
State & Local More
NYC Tribunal Says Case's 20-Year Hold Didn't Violate Rights
A New York City tribunal rejected an insurance agent's arguments that his tax case that was stuck on hold for nearly 20 years while he waited for a quorum to hear it should be dismissed for denying him due process.
Minn. Senate Panel Pitched On Hennepin Sales Tax Hike
Minnesota would boost the sales tax in its largest county, with some of the resulting funds dedicated to local healthcare facilities, under legislation before a Senate panel on Wednesday.
Virginia Governor Proposes Delaying Cannabis Retail Sales
Virginia Gov. Abigail Spanberger on Tuesday declined to sign into law legislation that would tax and regulate the sale of adult-use cannabis, sending the bill back to the Legislature with numerous changes, inc... (more story)
Capital One Owes Fla. Tax On Card Interest, Tax Dept. Says
A Florida trial court erred when it ruled that two Capital One entities don't owe the state taxes on credit card interest and interchange fees stemming from transactions involving Florida customers, the state'... (more story)
Maine Adopts High-Earner Tax, Updates Fed. Tax Conformity
Maine will create an income tax surtax on those earning more than $1 million, adopt a pass-through entity tax and credit and conform with some federal tax changes under a supplemental budget signed by the state's governor.
Ore. Decouples From 1st-Year Depreciation Of Biz Property
Oregon will decouple from the federal first-year depreciation of certain business property and from a tax break for small-business stock gains under legislation signed by the governor.
Weil Adds Kirkland, DLA Piper Attys To Private Funds Platform
Weil Gotshal & Manges LLP announced two additions to its private funds platform on Monday, one from Kirkland & Ellis and the other from DLA Piper.
A New York City tribunal rejected an insurance agent's arguments that his tax case that was stuck on hold for nearly 20 years while he waited for a quorum to hear it should be dismissed for denying him due process.
Minnesota would boost the sales tax in its largest county, with some of the resulting funds dedicated to local healthcare facilities, under legislation before a Senate panel on Wednesday.
Virginia Gov. Abigail Spanberger on Tuesday declined to sign into law legislation that would tax and regulate the sale of adult-use cannabis, sending the bill back to the Legislature with numerous changes, inc... (more story)
A Florida trial court erred when it ruled that two Capital One entities don't owe the state taxes on credit card interest and interchange fees stemming from transactions involving Florida customers, the state'... (more story)
Maine will create an income tax surtax on those earning more than $1 million, adopt a pass-through entity tax and credit and conform with some federal tax changes under a supplemental budget signed by the state's governor.
Oregon will decouple from the federal first-year depreciation of certain business property and from a tax break for small-business stock gains under legislation signed by the governor.
Weil Gotshal & Manges LLP announced two additions to its private funds platform on Monday, one from Kirkland & Ellis and the other from DLA Piper.
International More
Centrica Loses £5.3M Tax Dispute Over North Sea Gas Field
Centrica's activities in a North Sea natural gas field amount to oil extraction, and therefore the company is liable for corporate tax bills totaling £5.3 million ($7.2 million) under the rules governing energ... (more story)
Canada To Suspend Fuel Taxes Amid War In Iran
Canada will temporarily suspend excise taxes on fuel, a CA$2.4 billion ($1.7 billion) expenditure aimed at combating price spikes linked to the U.S. and Israel's war in Iran, Prime Minister Mark Carney said Tu... (more story)
2nd Circ. Urged To Rethink IRS Win In Foreign Reporting Case
A New York business owner asked the Second Circuit to rethink a panel's decision that held the IRS could automatically assess and administratively collect certain foreign information reporting penalties, argui... (more story)
Fire Alarm Biz Boss Banned Over £327K Tax Dodging
The owner of two fire alarm companies has been banned from running businesses for six years after dodging more than £327,000 ($444,000) in income tax and value-added tax owed to the U.K.'s tax authority, the I... (more story)
EU Biz Plan Aims To Avoid Unanimous Tax Vote, Official Says
The European Commission purposefully stopped short on prescribing tax changes in its EU Inc. company support proposal to avoid having to put the plans to a unanimous vote that may have delayed or derailed the ... (more story)
Starbucks Claims £13.7M Tax Credit Amid Sales Growth
Starbucks received a £13.7 million ($18.4 million) corporate tax credit in the U.K. in 2025, according to company filings, offsetting losses even as its sales increased 6% in the country.
Reform UK Leader Defends Deputy On Claims Of Unpaid Tax
Reform UK leader Nigel Farage said Monday that he is "satisfied" that his deputy Richard Tice's company paid the "full amount of tax" in response to allegations that Tice's property company failed to pay £120,... (more story)
Centrica's activities in a North Sea natural gas field amount to oil extraction, and therefore the company is liable for corporate tax bills totaling £5.3 million ($7.2 million) under the rules governing energ... (more story)
Canada will temporarily suspend excise taxes on fuel, a CA$2.4 billion ($1.7 billion) expenditure aimed at combating price spikes linked to the U.S. and Israel's war in Iran, Prime Minister Mark Carney said Tu... (more story)
A New York business owner asked the Second Circuit to rethink a panel's decision that held the IRS could automatically assess and administratively collect certain foreign information reporting penalties, argui... (more story)
The owner of two fire alarm companies has been banned from running businesses for six years after dodging more than £327,000 ($444,000) in income tax and value-added tax owed to the U.K.'s tax authority, the I... (more story)
The European Commission purposefully stopped short on prescribing tax changes in its EU Inc. company support proposal to avoid having to put the plans to a unanimous vote that may have delayed or derailed the ... (more story)
Starbucks received a £13.7 million ($18.4 million) corporate tax credit in the U.K. in 2025, according to company filings, offsetting losses even as its sales increased 6% in the country.
Reform UK leader Nigel Farage said Monday that he is "satisfied" that his deputy Richard Tice's company paid the "full amount of tax" in response to allegations that Tice's property company failed to pay £120,... (more story)