Featured Stories

Multinationals Wary Of House Dems' BEAT Expansion No Photo Available

Foreign multinational corporations could face new taxes on inventory-related payments from their U.S. affiliates under Democrats' prop... (more story)

IRS Funding Could Double Under Dems' Budget Plan Alan K. Ota

A Democratic push to expand IRS enforcement and the agency's oversight of monthly child credit checks and green energy tax measures co... (more story)

Senate Dems Weigh Advancing New Taxes Without Panel Vote Alan K. Ota

Senate Democrats are considering moving some tax proposals in their $3.5 trillion reconciliation bill without a formal markup by the F... (more story)

Federal More

Jury Hears USC Coach Never Heard Of 'Varsity Blues' Recruit

A former assistant coach for the University of Southern California's women's basketball team told a Boston jury Friday she never heard of a purported recruit who prosecutors say got into the school as part of ... (more story)

Michigan Asks To Apportion Tax On Keweenaw Bay Tribe

Michigan has urged a federal judge to tweak his recent ruling that the state can't collect a use tax from the Keweenaw Bay Indian Community and its members for property used within tribal territory, saying the... (more story)

Ky. Judge Enjoins Treasury From Enforcing State Tax Cut Limit

The U.S. Department of the Treasury may not enforce a provision barring states from using federal coronavirus relief funds to offset revenue reductions such as tax cuts, a federal judge ruled Friday, giving a ... (more story)

IRS Seeks Pre-Pandemic Processing Levels By Year's End

The Internal Revenue Service has set a goal of restoring its tax return processing to pre-pandemic levels by the end of this year, a senior agency official said Friday.

House Panel Urges DC Circ. To OK Full Trump Subpoena

A congressional committee urged the D.C. Circuit to allow for full enforcement of the committee's subpoena seeking financial records from former President Donald Trump's accounting firm, saying a lower court w... (more story)

CPA With Russian Gas Co. Ties Accused Of Hiding $93M

A federal grand jury indicted a Florida CPA on charges of hiding $93 million in assets earned through his ties to a Russian gas company in overseas accounts and avoiding income tax, the U.S. Department of Just... (more story)

More Guidance On Retention Credit Is Unlikely, IRS Atty Says

Though the employee retention credit is listed on the current priority guidance plan, the government does not anticipate it will issue any additional guidance because sufficient notices already have been issue... (more story)

State & Local More

Texas Tells Court To Reject ITFA, Deny $4.7M Refund To Apple

The Texas comptroller asked a state court to deny Apple a $4.7 million refund of tax paid on sales of iCloud and iTunes Match services, arguing in part that a federal law preempting discriminatory taxes on ele... (more story)

Miss. Lawmakers Reach Deal To Legalize, Tax Medical Pot

Mississippi lawmakers announced an agreement Friday on legislation to legalize and tax medical cannabis — 4½ months after the state Supreme Court invalidated a voter-approved measure to legalize marijuana for medical use.

Texas Justices Won't Hear Tax Dispute Over $4.8M Jet

The Texas Supreme Court denied a petition for review Friday in a case seeking to invalidate a lower court's ruling upholding a tax assessment and fraud penalty on a company's purchase of a $4.8 million business jet.

Federal Tax Hikes And Ohio Billboards: SALT In Review

From looming federal tax hikes to a fight over billboards in Ohio, RSM US LLP's David Brunori offers his thoughts on noteworthy state and local tax news.

Netflix, Hulu Win Challenge To Calif. City's Video Fees

A California city can't impose video service fees on Netflix and Hulu because they don't provide live, on-demand services similar to television and don't operate infrastructure in public rights-of-way, a Los A... (more story)

Pot Regulators Say Federal Legalization Can't Impede States

A coalition of regulators responsible for overseeing the marijuana industries in 35 states on Thursday urged Senate Democrats developing a legalization bill to preserve local jurisdictions' role in administeri... (more story)

Mich. Lawmakers OK Budget Funding SALT Cap Workaround

Michigan lawmakers approved a nearly $70 billion budget that includes funding necessary to implement a state and local tax deduction cap workaround for pass-throughs that the governor previously vetoed due to ... (more story)

International More

Le Maire, Yellen Say Int'l Tax Deal Must Wrap Despite Holdouts

French finance minister Bruno Le Maire and U.S. Treasury Secretary Janet Yellen said Friday a deal to reform international taxation must be finished next month even without consensus among negotiators, accordi... (more story)

8 EU Countries Challenge Status Of Public Tax Reporting Law

Eight European Union countries, led by Croatia, are questioning the legal status of the vote that passed an EU law requiring large multinationals to publish how much tax they pay in each jurisdiction they operate in.

Accountants Ditch Investors' Suit Over Alleged Ponzi Scheme

A judge has tossed claims by investors seeking more than £1 million ($1.4 million) from their accountants for losses from tax avoidance plans and investments made with a foreign exchange trading company invest... (more story)

Mitsubishi Can Avoid Interest On Taxes, India's Top Court Says

Mitsubishi Corp. did not owe interest on its advance Indian income taxes because national tax law at the time allowed taxpayers to deduct overpayments made for customers that didn't pay taxes due on transactio... (more story)

UK Delays Digital Income Tax Reporting Until 2024

HM Revenue & Customs announced Thursday that it would delay its transition to digital record-keeping for business income tax reporting until April 2024, a year later than originally planned.

EU Warns 4 Member Countries Over Tax Infractions

The European Union's executive body flagged four member countries Thursday for violations of EU tax law in areas including anti-avoidance rules, taxes on automobiles and value-added tax.

Terms For Financial Co. Scrutiny Not Set, IRS Atty Says

The Internal Revenue Service's recently opened compliance campaign targeting financial services entities so far has no set indicators, such as loans originated, or a defined safe harbor provision, an IRS offic... (more story)