Expat To Push 11th Circ. For Trial Over $20M FBAR Fines
An expatriate U.S.-German citizen is appealing a Florida federal court's rejection of his attempt to set aside an approximately $20 million judgment against him for failing to file reports of foreign bank accounts, an outcome he said violated his rights to a jury trial.
Property Sales Cluster Below £2M As Mansion Tax Looms
Some 18 months before England's mansion tax comes into force, sales of homes just above the levy's £2 million ($2.6 million) threshold are falling, while deals below it are rising, a phenomenon known as bunching that may become more pronounced as the deadline approaches, experts told Law360.
Spectrum Unit Seeks $1.5M Tax Refund In Mo. On Utility Buys
A Spectrum entity is challenging the Missouri Department of Revenue's denial of a roughly $1.5 million refund of state and local sales tax paid on electric utility services, arguing that the purchases are entitled to an exemption granted to telecommunication companies.
Expat To Push 11th Circ. For Trial Over $20M FBAR Fines
An expatriate U.S.-German citizen is appealing a Florida federal court's rejection of his attempt to set aside an approximately $20 million judgment against him for failing to file reports of foreign bank accounts, an outcome he said violated his rights to a jury trial.
Property Sales Cluster Below £2M As Mansion Tax Looms
Some 18 months before England's mansion tax comes into force, sales of homes just above the levy's £2 million ($2.6 million) threshold are falling, while deals below it are rising, a phenomenon known as bunching that may become more pronounced as the deadline approaches, experts told Law360.
Spectrum Unit Seeks $1.5M Tax Refund In Mo. On Utility Buys
A Spectrum entity is challenging the Missouri Department of Revenue's denial of a roughly $1.5 million refund of state and local sales tax paid on electric utility services, arguing that the purchases are entitled to an exemption granted to telecommunication companies.
Federal More
H&R Block's subsidiaries told a California federal judge on Friday that Liberty Mutual must pay over $6 million in costs they incurred defending themselves in an underlying suit filed by rival Intuit, which ac... (more story)
An energy company accused of selling fraudulent tax shelters marketed as tribal tax credits retaliated against an IRS employee after she flagged the company's promotion of the credits, engaging in a defamatory... (more story)
Nelson Mullins Riley & Scarborough LLP has hired a new partner from Berger Singerman to bolster its international tax, estate planning and private wealth capabilities in Miami.
The U.S. Department of Justice's new fraud division has issued fresh guidance on its prosecution methodology, with the division's head directing prosecutors to seize assets before indictments and pursue upward... (more story)
In this week's Taxation With Representation, Emera and ATCO announce a merger to create a Canadian utility and energy infrastructure powerhouse, French technology giant Schneider Electric buys industrial softw... (more story)
The government cannot use a postargument letter to introduce a new argument in a dispute with the founder of Buy.com over his nearly $16 million tax bill, he told the Tenth Circuit.
Ropes & Gray LLP said this week that it added a tax partner from Akin Gump Strauss Hauer & Feld LLP to its New York office.
State & Local More
NYC Fights To Avoid Restarting 2nd-Home Tax Rollout
New York City asked a state appeals court to reverse a decision finding it must restart the rollout of its tax on high-value second homes, saying a group of property owners' complaints weren't fit for court review.
CEO Says Ex-NJ AG Not Immune In Failed RICO Case Suit
The CEO of an affordable housing developer indicted in a now-dismissed racketeering case against South Jersey power broker George Norcross has pushed back against former New Jersey Attorney General Matthew Pla... (more story)
Airline's Win 'Destabilizes' Franchise Tax, Texas Justices Told
The Texas Supreme Court must review a lower court's holding that the state wrongly assessed franchise tax on American Airline's baggage fee revenue, the state's comptroller said, asserting that the test used b... (more story)
Coinbase Tells 2nd Circ. Only CFTC Oversees Event Contracts
Event contracts that Coinbase offers, including sports event contracts, are swaps over which the Commodity Futures Trading Commission has "exclusive" jurisdiction, the company has urged the Second Circuit to r... (more story)
DOT Tells 2nd Circ. Congestion Pricing Fight In Wrong Court
The Trump administration doubled down on its efforts to eliminate New York's congestion pricing, telling the Second Circuit that the underlying contract dispute was heard in the wrong court and that it shouldn... (more story)
Buffalo Sues Feds Over NY Tribe's Land Sale's Status
The city of Buffalo is asking a New York district court to vacate the federal government's decision to place a 3.8-acre waterfront parcel in a restricted fee status for the Seneca Nation of Indians that could ... (more story)
Ritz-Carlton Fights Condo $55M Property Tax Hike On Appeal
A Colorado Court of Appeals panel Wednesday probed whether 54 condominium units at the Ritz-Carlton should be valued as whole fee-simple units, or at a lower valuation to accommodate the fractional-ownership m... (more story)
New York City asked a state appeals court to reverse a decision finding it must restart the rollout of its tax on high-value second homes, saying a group of property owners' complaints weren't fit for court review.
The CEO of an affordable housing developer indicted in a now-dismissed racketeering case against South Jersey power broker George Norcross has pushed back against former New Jersey Attorney General Matthew Pla... (more story)
The Texas Supreme Court must review a lower court's holding that the state wrongly assessed franchise tax on American Airline's baggage fee revenue, the state's comptroller said, asserting that the test used b... (more story)
Event contracts that Coinbase offers, including sports event contracts, are swaps over which the Commodity Futures Trading Commission has "exclusive" jurisdiction, the company has urged the Second Circuit to r... (more story)
The Trump administration doubled down on its efforts to eliminate New York's congestion pricing, telling the Second Circuit that the underlying contract dispute was heard in the wrong court and that it shouldn... (more story)
The city of Buffalo is asking a New York district court to vacate the federal government's decision to place a 3.8-acre waterfront parcel in a restricted fee status for the Seneca Nation of Indians that could ... (more story)
A Colorado Court of Appeals panel Wednesday probed whether 54 condominium units at the Ritz-Carlton should be valued as whole fee-simple units, or at a lower valuation to accommodate the fractional-ownership m... (more story)
International More
Deloitte Accused Of Helping Hide Abramovich's £508M Assets
Deloitte Cyprus helped falsify documents to conceal Russian billionaire Roman Abramovich's assets worth £508 million (£671 million), allegedly allowing him to evade a huge tax bill, according to the findings o... (more story)
EU Budget Draft Keeps Business Tax, Tweaks Carbon Levies
A new draft of the European Union's long-term budget has retained a proposed business tax amid speculation that the European Commission, the EU executive, could be planning a fresh push to pass the controversi... (more story)
Trade Court Certifies Broad IEEPA Tariff Refund Class
The U.S. Court of International Trade granted a broad class certification for importers subjected to President Donald Trump's now-invalidated global tariff regime Thursday in a move the judge said he hopes wil... (more story)
Man Appeals $10M Tax Bill Over Unreported Company Income
A man is appealing a U.S. Tax Court order that found he owes around $10.4 million in taxes and penalties for failing to report company funds he used for personal expenses such as luxury cars, according to a no... (more story)
62 Detained In €410M Electronics VAT Fraud, EU Says
European authorities detained 62 people in Portugal, Spain and Italy who are suspected of a value-added tax fraud involving electronics that caused at least €410 million ($460 million) in tax losses across the... (more story)
Canada Media Outlet Can't Get Tax Break, Appeals Court Says
A far-right Canadian media outlet does not produce enough original news content to qualify for journalism tax credits, a Canada appeals court held, rejecting the publication's claims of government censorship.
Ashfords Sued For Negligence Over Estate Planning Advice
A British baron has sued Ashfords LLP, alleging that the firm's negligent estate planning advice left his family with "a much greater" inheritance tax bill, and seeking up to £702,012 ($930,000) in damages.
Deloitte Cyprus helped falsify documents to conceal Russian billionaire Roman Abramovich's assets worth £508 million (£671 million), allegedly allowing him to evade a huge tax bill, according to the findings o... (more story)
A new draft of the European Union's long-term budget has retained a proposed business tax amid speculation that the European Commission, the EU executive, could be planning a fresh push to pass the controversi... (more story)
The U.S. Court of International Trade granted a broad class certification for importers subjected to President Donald Trump's now-invalidated global tariff regime Thursday in a move the judge said he hopes wil... (more story)
A man is appealing a U.S. Tax Court order that found he owes around $10.4 million in taxes and penalties for failing to report company funds he used for personal expenses such as luxury cars, according to a no... (more story)
European authorities detained 62 people in Portugal, Spain and Italy who are suspected of a value-added tax fraud involving electronics that caused at least €410 million ($460 million) in tax losses across the... (more story)
A far-right Canadian media outlet does not produce enough original news content to qualify for journalism tax credits, a Canada appeals court held, rejecting the publication's claims of government censorship.
A British baron has sued Ashfords LLP, alleging that the firm's negligent estate planning advice left his family with "a much greater" inheritance tax bill, and seeking up to £702,012 ($930,000) in damages.