Dispute Over Taxing Business Inputs Snares Va. Lawmakers
Questions Loom Over China's Pillar 2 Participation
Donor Fund Rules Unlikely To Be Retroactive, Officials Say
Dispute Over Taxing Business Inputs Snares Va. Lawmakers
Whether businesses should be taxed as they move products through the supply chain has been vexing for those following tax policy, but the issue is garnering far more attention as it heads to the forefront of the Virginia budget process.
Questions Loom Over China's Pillar 2 Participation
Practical and political problems surrounding the Organization for Economic Cooperation and Development's 15% global minimum corporate tax raise questions about how China and its biggest companies could undermine that regime.
Donor Fund Rules Unlikely To Be Retroactive, Officials Say
Proposed regulations from the U.S. Department of the Treasury and Internal Revenue Service on donor-advised funds will likely be changed so that they don't apply retroactively, government officials said Thursday.
Federal More
A private equity executive whose conviction in the "Varsity Blues" college admissions case was almost entirely wiped out by the First Circuit is entitled to a refund of $1 million he paid to the scheme's ringl... (more story)
The former head of a Utah charity was sentenced to a year and a day in prison for evading taxes on $1.3 million he was paid as part of a covert arrangement with a purported donor, according to documents filed ... (more story)
The Internal Revenue Service released a draft of a form brokers will have to use for the first time to disclose their digital asset sales to the agency, including instructions for taxpayers whose transactions ... (more story)
Attorneys for Todd and Julie Chrisley of the reality television show "Chrisley Knows Best," who are in prison after being convicted on federal charges of bank fraud and tax evasion, urged the Eleventh Circuit ... (more story)
An attorney who spent more than a decade developing a niche practice specializing in tax credit financing has moved her practice to Polsinelli PC's Dallas office after five years at Munsch Hardt Kopf & Harr PC.
A former Houston lawyer whose conviction in connection with an $18 million tax scheme was overturned told a federal judge Friday that not testifying in his 2019 trial was "one of the worst mistakes" of his lif... (more story)
In this week's Taxation With Representation, Resideo Technologies Inc. announced plans to buy Snap One Holdings Corp., APi Group said it bought an elevator maintenance company, Prysmian said it agreed to purch... (more story)
State & Local More
Trump On Verge Of Legal History As Full NY Jury Picked
Jury selection wrapped up Friday in the hush money trial of Donald Trump, setting the stage for opening statements to begin on Monday after a New York appeals court denied a last-ditch bid by the former presid... (more story)
Expedia's Win Against La. Hotel Taxes Upheld On Appeal
Expedia and some of its affiliates do not owe Louisiana sales taxes on the full price of accommodation rentals they charged to customers booking through their platforms, a Louisiana appeals court said, upholdi... (more story)
NY Lawmakers Approve Overhauling Cannabis Tax System
New York is slated to scrap its potency-based tax system for adult-use cannabis and replace it with a more streamlined wholesale tax structure in June under a budget-related bill approved by state lawmakers.
Constitutional Shenanigans And Other Sports: SALT In Review
From a challenge to New York's end run on a federal law to voters' rejection of a sales tax that would aid Kansas City's major league teams, RSM's David Brunori offers his thoughts on noteworthy state and local tax news.
The Week In Trump: NY Trial And A High Court Date Loom
Despite a few snags, jury selection for Donald Trump's hush money trial in Manhattan unfolded relatively quickly, clearing the way for opening statements Monday in the historic case as the former president pre... (more story)
Self-Immolation Near Trump Trial Prompts Security Review
The New York Police Department is reviewing security protocols for former President Donald Trump's first criminal trial after a man set himself on fire across the street from the Manhattan courthouse where the... (more story)
Neb. Gov. Plans To Call For Session To Revive Digital Tax
Nebraska's Republican governor said he plans to call for a special session of the state's unicameral Legislature to address tax reform after his proposal to tax advertising services, including digital advertis... (more story)
Co.'s Shoe Sales Warrant Partial Refund, Ohio Justices Told
An apparel company reiterated to the Ohio Supreme Court on Thursday that it is not subject to gross receipts tax on receipts from the sale of goods that an in-state distribution center transports to retail sto... (more story)
Peacock Says Maryland Digital Ad Tax Violates Internet Law
Maryland's digital advertising tax violates the commerce clause of the U.S. Constitution and the Internet Tax Freedom Act, streaming giant Peacock TV LLC told the Maryland Tax Court on Thursday in one of sever... (more story)
Jury selection wrapped up Friday in the hush money trial of Donald Trump, setting the stage for opening statements to begin on Monday after a New York appeals court denied a last-ditch bid by the former presid... (more story)
Expedia and some of its affiliates do not owe Louisiana sales taxes on the full price of accommodation rentals they charged to customers booking through their platforms, a Louisiana appeals court said, upholdi... (more story)
New York is slated to scrap its potency-based tax system for adult-use cannabis and replace it with a more streamlined wholesale tax structure in June under a budget-related bill approved by state lawmakers.
From a challenge to New York's end run on a federal law to voters' rejection of a sales tax that would aid Kansas City's major league teams, RSM's David Brunori offers his thoughts on noteworthy state and local tax news.
Despite a few snags, jury selection for Donald Trump's hush money trial in Manhattan unfolded relatively quickly, clearing the way for opening statements Monday in the historic case as the former president pre... (more story)
The New York Police Department is reviewing security protocols for former President Donald Trump's first criminal trial after a man set himself on fire across the street from the Manhattan courthouse where the... (more story)
Nebraska's Republican governor said he plans to call for a special session of the state's unicameral Legislature to address tax reform after his proposal to tax advertising services, including digital advertis... (more story)
An apparel company reiterated to the Ohio Supreme Court on Thursday that it is not subject to gross receipts tax on receipts from the sale of goods that an in-state distribution center transports to retail sto... (more story)
Maryland's digital advertising tax violates the commerce clause of the U.S. Constitution and the Internet Tax Freedom Act, streaming giant Peacock TV LLC told the Maryland Tax Court on Thursday in one of sever... (more story)
International More
UN Should Eye Unitary Taxes, DSTs For Tax Pact, Report Says
Governments should use the United Nations tax convention as an opportunity to advance the overhaul of nexus away from transfer pricing and toward formulary apportionment, including digital services taxes, to a... (more story)
DC Circ. Gives Expat's Challenge To GILTI Another Chance
A D.C. federal court was wrong to dismiss an expatriate attorney's challenge to the global intangible low-taxed income regulations without addressing his argument that he had no other legal avenue, the D.C. Ci... (more story)
Estonian Tax System's Ease Key To Success, Bank Head Says
The tax system in Estonia — ranked the top country for international tax competitiveness by the Tax Foundation — is fair and easy to administer, which is key to the country's tax administration successes, the ... (more story)
AbbVie Can't Get Deduction For $1.6B Merger Fee, IRS Says
The IRS defended its denial of AbbVie's claimed deduction for a $1.6 billion payment to a biotechnology company over their failed merger, telling the U.S. Tax Court that the pharmaceutical giant is misconstrui... (more story)
Pawn Shop Owes VAT On Auction Sales, EU Court Says
A Portuguese pawn shop must pay value-added taxes of €308,000 ($327,000) from sales commissions of auctioned items because the auction is not part of the exempt loan, the Court of Justice of the European Union said Thursday.
HMRC Opens Consultation On Payroll Tax In Freeports
The U.K. tax authority is mulling changes to National Insurance, a payroll levy used to fund state pensions and healthcare, for employees working in special economic zones known as freeports.
Transfer Pricing And Dancing: Recalling KPMG's Sean Foley
Sean Foley, who died suddenly in September, was a devoted husband, father, brother and friend and a brilliant colleague. He was one of the world's top experts in an area of international tax known as transfer ... (more story)
Governments should use the United Nations tax convention as an opportunity to advance the overhaul of nexus away from transfer pricing and toward formulary apportionment, including digital services taxes, to a... (more story)
A D.C. federal court was wrong to dismiss an expatriate attorney's challenge to the global intangible low-taxed income regulations without addressing his argument that he had no other legal avenue, the D.C. Ci... (more story)
The tax system in Estonia — ranked the top country for international tax competitiveness by the Tax Foundation — is fair and easy to administer, which is key to the country's tax administration successes, the ... (more story)
The IRS defended its denial of AbbVie's claimed deduction for a $1.6 billion payment to a biotechnology company over their failed merger, telling the U.S. Tax Court that the pharmaceutical giant is misconstrui... (more story)
A Portuguese pawn shop must pay value-added taxes of €308,000 ($327,000) from sales commissions of auctioned items because the auction is not part of the exempt loan, the Court of Justice of the European Union said Thursday.
The U.K. tax authority is mulling changes to National Insurance, a payroll levy used to fund state pensions and healthcare, for employees working in special economic zones known as freeports.
Sean Foley, who died suddenly in September, was a devoted husband, father, brother and friend and a brilliant colleague. He was one of the world's top experts in an area of international tax known as transfer ... (more story)