Fund managers would face annual taxation of carried interest based on imputed compensation, instead of primarily enjoying long-term capital gains rates, under a bill introduced Thursday by Senate Finance Commi... (more story)

The IRS unveiled proposed regulations Thursday to implement a higher threshold of $2,000 for when gambling businesses must report payouts to the government — including winnings from bingo, keno and slot machin... (more story)

The Internal Revenue Service's funding would be cut by $1 billion for the 2027 fiscal year under legislation released Thursday by the House Appropriations Committee.

Before launching its automated web portal to process tariff-refund disbursements on April 20, U.S. Customs and Border Protection should apply the expensive lessons learned from the pandemic-era employee retent... (more story)

The U.S. arguably has a stronger interest in challenging digital services taxes and other "quasi-tariffs" than in pursuing tariffs on physical goods, according a report Wednesday from the Tax Foundation, which... (more story)

A West Virginia federal judge has narrowed the evidence prosecutors can present at trial in a revived trade secret case against two former Deloitte employees, curtailing use of an internal investigative report... (more story)

The U.S. Tax Court can't disregard Eaton's transfer of a $14 billion asset overseas because the IRS itself didn't challenge the transaction's validity, the company argued Wednesday in defending the interest ra... (more story)

A New York City tribunal rejected an insurance agent's arguments that his tax case that was stuck on hold for nearly 20 years while he waited for a quorum to hear it should be dismissed for denying him due process.

Minnesota would boost the sales tax in its largest county, with some of the resulting funds dedicated to local healthcare facilities, under legislation before a Senate panel on Wednesday.

Virginia Gov. Abigail Spanberger on Tuesday declined to sign into law legislation that would tax and regulate the sale of adult-use cannabis, sending the bill back to the Legislature with numerous changes, inc... (more story)

A Florida trial court erred when it ruled that two Capital One entities don't owe the state taxes on credit card interest and interchange fees stemming from transactions involving Florida customers, the state'... (more story)

Maine will create an income tax surtax on those earning more than $1 million, adopt a pass-through entity tax and credit and conform with some federal tax changes under a supplemental budget signed by the state's governor.

Oregon will decouple from the federal first-year depreciation of certain business property and from a tax break for small-business stock gains under legislation signed by the governor.

Weil Gotshal & Manges LLP announced two additions to its private funds platform on Monday, one from Kirkland & Ellis and the other from DLA Piper.

A shuttered Canadian law firm can't get a tax break on unpaid client bills, the Tax Court of Canada ruled, holding that the firm didn't make a sufficient effort to chase down payments before claiming a bad debt deduction.

The Organization for Economic Cooperation and Development is working to iron out a policy quirk that can result in double taxation when it is unclear whether restrictions on interest deductions fall under dome... (more story)

Centrica's activities in a North Sea natural gas field amount to oil extraction, and therefore the company is liable for corporate tax bills totaling £5.3 million ($7.2 million) under the rules governing energ... (more story)

Canada will temporarily suspend excise taxes on fuel, a CA$2.4 billion ($1.7 billion) expenditure aimed at combating price spikes linked to the U.S. and Israel's war in Iran, Prime Minister Mark Carney said Tu... (more story)

U.S. Customs and Border Protection's automated tariff refund system is nearly complete, but thousands of imports may require a more cumbersome manual process that could undermine the agency's other priorities,... (more story)

A New York business owner asked the Second Circuit to rethink a panel's decision that held the IRS could automatically assess and administratively collect certain foreign information reporting penalties, argui... (more story)

The owner of two fire alarm companies has been banned from running businesses for six years after dodging more than £327,000 ($444,000) in income tax and value-added tax owed to the U.K.'s tax authority, the I... (more story)