Wash. Biz Group Dues Weren't Deductible From Gross Income
AGs Ask 2nd Circ. To Revive Their SALT Cap Workaround Suit
Treasury Floats Long-Awaited Rules For Corp. Minimum Tax
Wash. Biz Group Dues Weren't Deductible From Gross Income
The Better Business Bureau isn't entitled to a refund of business and occupation taxes paid to the Washington Department of Revenue in 2017, an appeals court affirmed, agreeing with the department that membership dues weren't deductible from gross income.
AGs Ask 2nd Circ. To Revive Their SALT Cap Workaround Suit
Attorneys general from New York, New Jersey and Connecticut asked the Second Circuit to revive their challenge to an IRS rule prohibiting workarounds to the federal cap on state and local tax deductions, saying the rule was arbitrary and contrary to congressional intent.
Treasury Floats Long-Awaited Rules For Corp. Minimum Tax
Treasury and the IRS released eagerly awaited rules Thursday on the new 15% corporate alternative minimum tax on corporations with reported profits of $1 billion or more, taking a step toward implementing a key provision of President Joe Biden's signature 2022 tax and climate law.
Federal More
A mortgage company owner was sentenced Thursday to 11 years and three months in prison for defrauding investors, a community bank and the government's pandemic relief program to cover gambling debts and person... (more story)
Treasury and the Internal Revenue Service released proposed rules Friday that would define what qualifies as tribal welfare benefits exempt from taxable income.
Despite the Financial Crimes Enforcement Network's continued release of guidance for complying with the Corporate Transparency Act, its interpretation remains in flux, making it important for companies to unde... (more story)
A Florida man convicted of defrauding hospitals in a payroll fraud scheme urged the Eleventh Circuit Thursday to allow him to challenge a $21 million restitution award while still in prison, saying he wasn't a... (more story)
Wilson Sonsini Goodrich & Rosati PC has recruited a tax specialist from Slaughter and May to its office in London to boost its strengths representing U.K. and European technology and life sciences companies th... (more story)
Former Massachusetts State Sen. Dean Tran was convicted Wednesday of fraudulently collecting pandemic unemployment benefits after he was voted out of office and of cheating on his taxes.
The U.S. House of Representatives voted in favor of a bill Thursday that would place further restrictions on qualifications for a tax credit for new electric vehicles amid concerns that current limits don't do... (more story)
State & Local More
Calif. OTA Denies Refund For Criminal Restitution Payments
California's Office of Tax Appeals said it is unable to refund criminal restitution payments to a couple who operated 21 Subway franchises in the southern part of the state between 2003 and 2010 and pleaded gu... (more story)
Top DC Real Estate News From Summer 2024
Catch up on the hottest real estate news out of Washington, D.C., this summer, including shifting office footprints and building conversion incentives.
Mass. Jury Weighs Raft Of Fraud Charges Against Ex-Pol
A Boston federal jury resumed deliberations Wednesday in a criminal case alleging a former Massachusetts state senator lied on his taxes and an application for pandemic unemployment aid, after the ex-politico ... (more story)
McCarter & English Recruits EY Tax Pro In New Jersey
McCarter & English LLP has bulked up its tax and employee benefits team in New Jersey with a longtime Ernst & Young expert at a time when the Garden State's business community is bracing for regulations on a s... (more story)
Latham Hires Senior Tax Pro From Travers Smith In London
Latham & Watkins LLP said on Wednesday that it has recruited a former head of tax at Travers Smith LLP for its office in London, a blow for the U.K. law firm, which has been hit by the departure of a series of partners.
Ex-Conn. Town Atty Slams Official's Defamation Suit Defense
The former attorney for Newington, Connecticut, and the town's tax assessor bickered over whether the latter's allegedly defamatory sentiments linked to now-dismissed ethics complaints were made publicly, with... (more story)
Manatt Phelps Grows Pot Practice With Special Counsel Hire
Manatt Phelps & Phillips LLP on Tuesday revealed the latest expansion of its cannabis and CBD practice, saying it has hired a former Barclay Damon LLP attorney who specializes in corporate, tax and regulatory ... (more story)
Missouri County Urges Appeals Court To Uphold Cannabis Tax
Missouri's constitution provides that local governments may impose an additional retail sales tax on marijuana, and a dispensary's argument that a county may not do so because it sometimes does not qualify as ... (more story)
Bradley Arant Adds Katten Partner In Dallas
Bradley Arant has hired a six-and-a-half-year veteran of Katten Muchin Rosenman LLP who is joining the firm's corporate and securities practice in Dallas as a partner.
California's Office of Tax Appeals said it is unable to refund criminal restitution payments to a couple who operated 21 Subway franchises in the southern part of the state between 2003 and 2010 and pleaded gu... (more story)
Catch up on the hottest real estate news out of Washington, D.C., this summer, including shifting office footprints and building conversion incentives.
A Boston federal jury resumed deliberations Wednesday in a criminal case alleging a former Massachusetts state senator lied on his taxes and an application for pandemic unemployment aid, after the ex-politico ... (more story)
McCarter & English LLP has bulked up its tax and employee benefits team in New Jersey with a longtime Ernst & Young expert at a time when the Garden State's business community is bracing for regulations on a s... (more story)
Latham & Watkins LLP said on Wednesday that it has recruited a former head of tax at Travers Smith LLP for its office in London, a blow for the U.K. law firm, which has been hit by the departure of a series of partners.
The former attorney for Newington, Connecticut, and the town's tax assessor bickered over whether the latter's allegedly defamatory sentiments linked to now-dismissed ethics complaints were made publicly, with... (more story)
Manatt Phelps & Phillips LLP on Tuesday revealed the latest expansion of its cannabis and CBD practice, saying it has hired a former Barclay Damon LLP attorney who specializes in corporate, tax and regulatory ... (more story)
Missouri's constitution provides that local governments may impose an additional retail sales tax on marijuana, and a dispensary's argument that a county may not do so because it sometimes does not qualify as ... (more story)
Bradley Arant has hired a six-and-a-half-year veteran of Katten Muchin Rosenman LLP who is joining the firm's corporate and securities practice in Dallas as a partner.
International More
EU Finance Ministers Boycott Hungary Meeting Over Russia
Most European Union finance ministers protested on Friday against what they see as Hungary's Russia-friendly politics by boycotting a meeting with their EU peers in the country's capital, Budapest.
Freeths Hires McNulty As Pensions Director In London
Freeths LLP has appointed Sean McNulty, a former legal director at Blake Morgan as a pensions director in its London office, a move it believes will bolster its retirement income business.
Brokers Seek Insurance Tax Cut In Budget For At-Risk Housing
A trade body for insurance brokers has urged the U.K. government to exempt policyholders in apartment buildings with flammable cladding from a tax on premiums, as it seeks to avoid a jump in the price of cover.
UK Says Illicit Cigarette Crackdown Halves Tobacco Tax Gap
HM Revenue & Customs said Thursday it has slashed the tax gap on cigarettes and other tobacco products by more than half since 2005.
EU Rejects Minimum Price Offers In Chinese EV Dispute
The European Commission has rejected offers from exporters of electric vehicles made in China to stick to minimum prices that would aim to remove an unfair competitive advantage that the commission believes Ch... (more story)
UK Gov't Warned Over Pension Tax Changes In Budget
A trade body for actuaries said on Thursday that the government should consult widely and take time to implement any reform to pension taxation as it joins a growing number of organizations urging caution over... (more story)
Danish Pharma Co. Is Entitled To VAT Reduction
A Danish pharmaceutical company's mandatory payments for value added tax should lower the company's taxable base, the European Court of Justice ruled on Thursday.
Most European Union finance ministers protested on Friday against what they see as Hungary's Russia-friendly politics by boycotting a meeting with their EU peers in the country's capital, Budapest.
Freeths LLP has appointed Sean McNulty, a former legal director at Blake Morgan as a pensions director in its London office, a move it believes will bolster its retirement income business.
A trade body for insurance brokers has urged the U.K. government to exempt policyholders in apartment buildings with flammable cladding from a tax on premiums, as it seeks to avoid a jump in the price of cover.
HM Revenue & Customs said Thursday it has slashed the tax gap on cigarettes and other tobacco products by more than half since 2005.
The European Commission has rejected offers from exporters of electric vehicles made in China to stick to minimum prices that would aim to remove an unfair competitive advantage that the commission believes Ch... (more story)
A trade body for actuaries said on Thursday that the government should consult widely and take time to implement any reform to pension taxation as it joins a growing number of organizations urging caution over... (more story)
A Danish pharmaceutical company's mandatory payments for value added tax should lower the company's taxable base, the European Court of Justice ruled on Thursday.