Takeaways From US-India Interim Trade Deal
Trade tensions between the U.S. and India have cooled off after a deal to reduce U.S. tariffs was reached this month, but questions remain about how the interim agreement will materialize and influence future negotiations. Here, Law360 examines several takeaways from the interim deal and efforts toward a broader deal arrangement.
Tax Court Slashes $115M Easement Deduction
A partnership is not entitled to a $115 million tax deduction for donating a conservation easement over rural farmland in Louisiana, the U.S. Tax Court ruled Thursday, saying the amount "grotesquely" exceeded the easement's actual value.
MTC Digital Tax Work Group Won't Try To Create Model Law
The Multistate Tax Commission work group studying how to harmonize state rules for taxing digital products will not attempt to create model legislation but instead will offer states a set of recommendations, officials said Thursday.
Takeaways From US-India Interim Trade Deal
Trade tensions between the U.S. and India have cooled off after a deal to reduce U.S. tariffs was reached this month, but questions remain about how the interim agreement will materialize and influence future negotiations. Here, Law360 examines several takeaways from the interim deal and efforts toward a broader deal arrangement.
Tax Court Slashes $115M Easement Deduction
A partnership is not entitled to a $115 million tax deduction for donating a conservation easement over rural farmland in Louisiana, the U.S. Tax Court ruled Thursday, saying the amount "grotesquely" exceeded the easement's actual value.
MTC Digital Tax Work Group Won't Try To Create Model Law
The Multistate Tax Commission work group studying how to harmonize state rules for taxing digital products will not attempt to create model legislation but instead will offer states a set of recommendations, officials said Thursday.
Federal More
More discovery is needed into the IRS' data-sharing agreement with Immigration and Customs Enforcement in light of the tax authority recently admitting to breaching its terms, a coalition challenging the agree... (more story)
Tax provisions in the bilateral agreement to establish the U.S.-Ukraine Reconstruction Investment Fund, which recently announced it is accepting applications, are so broad and imprecise as to leave uncertainty... (more story)
President Donald Trump signed a resolution repealing a Washington, D.C., law that decoupled sections of the city's tax code from federal changes made as part of last summer's budget law.
A man failed to show entitlement to tax records he sought related to his family printing company, a D.C. federal court found Thursday, granting the Internal Revenue Service's motion to dismiss his Freedom of I... (more story)
An Arizona partnership is challenging the Internal Revenue Service's determination that it underpaid its 2020 tax by $32.6 million and owes more than $7 million in penalties for that year, in the latest of sev... (more story)
A woman facing more than $300,000 in tax bills because her return preparer committed fraud on her filings decades ago asked the U.S. Supreme Court to overturn the Third Circuit's finding that she is responsibl... (more story)
Playing trivia taught me to quickly absorb information and recognize when I've learned what I'm expected to know, training me in the crucial skills needed to be a good attorney, and reminding me to be gracious... (more story)
State & Local More
Ariz. Sales Tax Sourcing Change OK'd By House Panel
Arizona would specify that in-state remote sales should be sourced to the location where the seller received the orders under legislation approved by a House panel over the objections of a representative of city governments.
Fla. House Advances Property Tax Cut Toward Ballot
Florida voters would decide whether to exempt all homesteads from property taxes other than school levies beginning in 2027 under a resolution passed Thursday by the state House of Representatives.
Ohio House Puts Federal Tax Conformity Bill In Limbo
An Ohio bill that would update the state's conformity to the federal tax code hit a snag Wednesday after the state House passed the legislation, but Democrats succeeded in stripping a provision that could have... (more story)
Neb. Social Media Tax Plan Faces Pushback From Biz Groups
Nebraska's proposed tax on social media companies based on how many customers they have in the state would lead to protracted legal challenges and would hurt the state and the companies themselves, business gr... (more story)
Advanced Manufacturing Tax Breaks Pitched To Ore. Panel
Legislation to expand Oregon tax incentives for semiconductor makers and other advanced technology businesses would help revitalize the state's manufacturing sector, supporters of the bill told a Senate panel ... (more story)
Tax Group Of The Year: Eversheds Sutherland
Eversheds Sutherland's tax practice advised on key deals in 2025, guiding Duke Energy in securing $20 million in investment credits and aiding Verizon in avoiding $12 million in corporate franchise taxes, earn... (more story)
Ore. Senate Panel OKs Estate Tax Threshold Boost
Oregon would boost its estate tax threshold from $1 million to $2.5 million, with a higher top tax rate, under legislation approved Wednesday by a state Senate committee.
Arizona would specify that in-state remote sales should be sourced to the location where the seller received the orders under legislation approved by a House panel over the objections of a representative of city governments.
Florida voters would decide whether to exempt all homesteads from property taxes other than school levies beginning in 2027 under a resolution passed Thursday by the state House of Representatives.
An Ohio bill that would update the state's conformity to the federal tax code hit a snag Wednesday after the state House passed the legislation, but Democrats succeeded in stripping a provision that could have... (more story)
Nebraska's proposed tax on social media companies based on how many customers they have in the state would lead to protracted legal challenges and would hurt the state and the companies themselves, business gr... (more story)
Legislation to expand Oregon tax incentives for semiconductor makers and other advanced technology businesses would help revitalize the state's manufacturing sector, supporters of the bill told a Senate panel ... (more story)
Eversheds Sutherland's tax practice advised on key deals in 2025, guiding Duke Energy in securing $20 million in investment credits and aiding Verizon in avoiding $12 million in corporate franchise taxes, earn... (more story)
Oregon would boost its estate tax threshold from $1 million to $2.5 million, with a higher top tax rate, under legislation approved Wednesday by a state Senate committee.
International More
French Court Approves Budget With Corporate Tax Hikes
France's government can proceed with enacting its budget, which includes taxes targeted at corporations and wealthy individuals, after it largely passed muster before the country's constitutional court Thursday.
Most Of New Hires Won't Work On Mansion Tax, HMRC Says
Most of the 1,000 tax officials being hired by Britain's tax authority ahead of the rollout of the high-value council tax surcharge known as the mansion tax will not work directly on the tax, the authority's v... (more story)
IRS Asks Court To Deny Probe Of Improper ICE Data-Sharing
A coalition suing the IRS over its data-sharing deal with immigration enforcement authorities should not be allowed to investigate the agency's revelation that it shared some data improperly, the IRS told a D.... (more story)
Glencore Says It Paid $1B To HMRC Over Tax Disputes
Mining giant Glencore told shareholders Wednesday that it paid $1 billion to the U.K.'s tax authority last year over tax disputes but is pushing to recover some of the money.
8th Circ. Misread Law In 3M's $24M Case, Tax Prof Says
The Eighth Circuit misconstrued the statute underpinning transfer pricing regulations when it blocked the IRS from allocating nearly $24 million of 3M Co.'s Brazilian income, a tax professor said in backing th... (more story)
Ex-IRS Official Drops Suit Over Private Info Leak
The former commissioner of the IRS' Large Business and International Division asked a D.C. federal court to drop her suit accusing the agency of unlawfully leaking information on her employment status to the m... (more story)
EU Blacklists Turks and Caicos, Vietnam As Tax Havens
The European Union blacklisted two countries as tax havens Tuesday over their failure to meet transparency standards and policies encouraging foreign companies and entities to shift their profits overseas.
France's government can proceed with enacting its budget, which includes taxes targeted at corporations and wealthy individuals, after it largely passed muster before the country's constitutional court Thursday.
Most of the 1,000 tax officials being hired by Britain's tax authority ahead of the rollout of the high-value council tax surcharge known as the mansion tax will not work directly on the tax, the authority's v... (more story)
A coalition suing the IRS over its data-sharing deal with immigration enforcement authorities should not be allowed to investigate the agency's revelation that it shared some data improperly, the IRS told a D.... (more story)
Mining giant Glencore told shareholders Wednesday that it paid $1 billion to the U.K.'s tax authority last year over tax disputes but is pushing to recover some of the money.
The Eighth Circuit misconstrued the statute underpinning transfer pricing regulations when it blocked the IRS from allocating nearly $24 million of 3M Co.'s Brazilian income, a tax professor said in backing th... (more story)
The former commissioner of the IRS' Large Business and International Division asked a D.C. federal court to drop her suit accusing the agency of unlawfully leaking information on her employment status to the m... (more story)
The European Union blacklisted two countries as tax havens Tuesday over their failure to meet transparency standards and policies encouraging foreign companies and entities to shift their profits overseas.