Fate Of Wealth Tax Hangs In Balance In Hungary Election
The outcome of Hungary's parliamentary election Sunday could determine whether the country adopts a wealth tax, a proposal that feeds into wider debates in Europe around tax policy fairness and effectiveness.
Tax Court Limits Varian's Deemed Dividends Deduction
A deduction that California-based Varian Medical Systems was allowed for deemed dividends must be reduced by the amount of its corresponding foreign tax credit, the U.S. Tax Court held Wednesday.
Minn. Senate Panel Weighs Digital Ad Tax, Sales Tax Rate Cut
Minnesota legislation to cut the sales tax rate and impose the tax on digital advertising services would modernize the state's tax structure and raise needed revenue, supporters told a Senate panel Wednesday, while business groups attacked the plan.
Fate Of Wealth Tax Hangs In Balance In Hungary Election
The outcome of Hungary's parliamentary election Sunday could determine whether the country adopts a wealth tax, a proposal that feeds into wider debates in Europe around tax policy fairness and effectiveness.
Tax Court Limits Varian's Deemed Dividends Deduction
A deduction that California-based Varian Medical Systems was allowed for deemed dividends must be reduced by the amount of its corresponding foreign tax credit, the U.S. Tax Court held Wednesday.
Minn. Senate Panel Weighs Digital Ad Tax, Sales Tax Rate Cut
Minnesota legislation to cut the sales tax rate and impose the tax on digital advertising services would modernize the state's tax structure and raise needed revenue, supporters told a Senate panel Wednesday, while business groups attacked the plan.
Federal More
The D.C. Circuit should remove a block on the IRS' policy of sharing data with immigration authorities, the government said Thursday, arguing that the groups challenging the policy have failed to show irreparable harm.
A Virginia federal judge tossed a lawsuit by a former Internal Revenue Service employee who claimed she and others were fired in President Donald Trump's sweep of the agency as part of an effort to thwart audi... (more story)
Skiing has shaped habits I rely on daily as an attorney — focus, resilience and the ability to remain steady when circumstances shift rapidly — and influences the way I approach legal strategy, client counseli... (more story)
The underlying U.S. Court of International Trade suit serving as the core of the government's development of a refund system for the now-invalidated International Emergency Economic Powers Act tariffs has chan... (more story)
A Wisconsin federal court should toss a company's remounted suit claiming the Internal Revenue Service secretly passed a rule targeting its stock ownership plan, the government argued, saying the company still... (more story)
A New Jersey tax preparer was sentenced Wednesday to 12 years in prison and ordered to pay $55 million in restitution to the Internal Revenue Service after a jury convicted him of tax fraud in what authorities... (more story)
The federal government has settled a suit seeking the IRS' records of its investigation into an ex-broker sanctioned by the Financial Industry Regulatory Authority for hiding $1.7 million in tax liens, accordi... (more story)
State & Local More
Trump Asks NY's Top Court To Toss AG's 'Flawed' Fraud Case
President Donald Trump on Wednesday asked New York's highest court to throw out New York Attorney General Letitia James' "deeply flawed" civil fraud judgment entirely after a lower appellate court tossed what ... (more story)
Mo. Senate Panel Advances Income Tax Phaseout Proposal
A proposed constitutional amendment in Missouri that would phase out the state's personal income tax in exchange for a broader sales tax base was advanced by a state Senate committee after the panel altered so... (more story)
NY Tax Talk: Calculating Tiered Partnership Income
Attorneys at Eversheds Sutherland discuss how the potential impact recent New York City Tax Appeals Tribunal decision in Matter of Cantor Fitzgerald holding that the entity approach should be used by tiered pa... (more story)
AT&T Owes Mo. Local Tax On Some Services, Panel Finds
AT&T was obligated to pay gross receipts tax on its prepaid wireless services, but not on receipts from other sales, under the terms of a class action settlement agreement with Missouri cities, a state appeals... (more story)
Wash. Activist Seeks To Force Vote On 'Millionaire Tax'
A conservative activist urged Washington's highest court to allow voters to weigh in on a newly enacted state income tax on earnings above $1 million, seeking to challenge the secretary of state's position tha... (more story)
Mich. Justices Turn Down Disney's Escheat Timing Case
The Michigan Supreme Court will not consider a request by Disney to review an appellate court ruling that said unclaimed property audit determinations create new legal obligations for holders that trigger a se... (more story)
What A Court Doc Audit Reveals About Erroneous Filings
My audit of 1,522 court documents from last month found that over 95% contained at least one verifiable error, with fewer than 1% showing clear indicators of artificial intelligence use — highlighting above al... (more story)
President Donald Trump on Wednesday asked New York's highest court to throw out New York Attorney General Letitia James' "deeply flawed" civil fraud judgment entirely after a lower appellate court tossed what ... (more story)
A proposed constitutional amendment in Missouri that would phase out the state's personal income tax in exchange for a broader sales tax base was advanced by a state Senate committee after the panel altered so... (more story)
Attorneys at Eversheds Sutherland discuss how the potential impact recent New York City Tax Appeals Tribunal decision in Matter of Cantor Fitzgerald holding that the entity approach should be used by tiered pa... (more story)
AT&T was obligated to pay gross receipts tax on its prepaid wireless services, but not on receipts from other sales, under the terms of a class action settlement agreement with Missouri cities, a state appeals... (more story)
A conservative activist urged Washington's highest court to allow voters to weigh in on a newly enacted state income tax on earnings above $1 million, seeking to challenge the secretary of state's position tha... (more story)
The Michigan Supreme Court will not consider a request by Disney to review an appellate court ruling that said unclaimed property audit determinations create new legal obligations for holders that trigger a se... (more story)
My audit of 1,522 court documents from last month found that over 95% contained at least one verifiable error, with fewer than 1% showing clear indicators of artificial intelligence use — highlighting above al... (more story)
International More
UK Drafts Carbon Border Tax Rules To Match EU System
The U.K. tax authority released draft regulations on the country's carbon border tax regime Thursday that would broadly align it with the European Union's system for taxing carbon-intensive imports.
Insurance Body Calls For Changes To EU Tax Reform Plans
Insurance Europe has urged European Union lawmakers to give workplace pension institutions that are regulated as insurers the same fast-track dividend tax relief as other pension providers in tax reforms which are pending.
Pryor Cashman Hires Tax Atty In NY From Curtis
Pryor Cashman LLP announced Tuesday that it has hired a former Curtis Mallet-Prevost Colt & Mosle LLP partner, touting her history advising businesses on complex tax matters across jurisdictions.
Engineering Co. Owes £3M Contributions, UK Court Says
A Scotland-based engineering company is on the hook for £2.9 million ($3.9 million) in national insurance contributions, according to a U.K. appeals court, which held the company couldn't avoid contributions b... (more story)
UK Gov't Expands Tax Relief For Startup Investment
The U.K.'s Labour government is expanding investment tax relief to unlock £100 million ($134.4 million) worth of funding for startups and early-stage businesses looking to grow, according to HM Treasury.
Rivera Kept $50M Venezuela Deal Quiet, Ex-Partner Says
The government's star witness took the stand Tuesday in the criminal case against former U.S. Rep. David Rivera of Florida, telling jurors that Rivera and others kept a $50 million consulting contract with a u... (more story)
Partnership Wants Tax Court To Reconsider Basis Question
A partnership asked the U.S. Tax Court to reconsider its finding that a company contributing a promissory note for a stake in the partnership had zero basis in the note, saying basis must be determined when a ... (more story)
The U.K. tax authority released draft regulations on the country's carbon border tax regime Thursday that would broadly align it with the European Union's system for taxing carbon-intensive imports.
Insurance Europe has urged European Union lawmakers to give workplace pension institutions that are regulated as insurers the same fast-track dividend tax relief as other pension providers in tax reforms which are pending.
Pryor Cashman LLP announced Tuesday that it has hired a former Curtis Mallet-Prevost Colt & Mosle LLP partner, touting her history advising businesses on complex tax matters across jurisdictions.
A Scotland-based engineering company is on the hook for £2.9 million ($3.9 million) in national insurance contributions, according to a U.K. appeals court, which held the company couldn't avoid contributions b... (more story)
The U.K.'s Labour government is expanding investment tax relief to unlock £100 million ($134.4 million) worth of funding for startups and early-stage businesses looking to grow, according to HM Treasury.
The government's star witness took the stand Tuesday in the criminal case against former U.S. Rep. David Rivera of Florida, telling jurors that Rivera and others kept a $50 million consulting contract with a u... (more story)
A partnership asked the U.S. Tax Court to reconsider its finding that a company contributing a promissory note for a stake in the partnership had zero basis in the note, saying basis must be determined when a ... (more story)