DC Council OKs Income Tax On Overtime, Tips
Washington, D.C., would apply its local income tax to overtime and tipped income and eliminate two business tax breaks under emergency legislation approved by the district council Tuesday to decouple elements of local law from federal tax code.
3M Ruling Highlights Loper Bright's Reach In Axing Tax Regs
A U.S. Supreme Court ruling that gutted deference to agencies took center stage in the Eighth Circuit's recent decision that backed 3M's challenge to transfer pricing rules, signaling the strict statutory analysis that courts may now apply to tax regulations.
Shutdown Leaves Tax Pros Few Options To Find Clients Relief
The IRS has been beset by worsening delays in addressing taxpayers' cases, driven by widespread furloughs and a wave of retirements, and the ongoing government shutdown has compounded the issue by bringing federal district courts to a halt, leaving tax practitioners few options to seek relief for clients.
DC Council OKs Income Tax On Overtime, Tips
Washington, D.C., would apply its local income tax to overtime and tipped income and eliminate two business tax breaks under emergency legislation approved by the district council Tuesday to decouple elements of local law from federal tax code.
3M Ruling Highlights Loper Bright's Reach In Axing Tax Regs
A U.S. Supreme Court ruling that gutted deference to agencies took center stage in the Eighth Circuit's recent decision that backed 3M's challenge to transfer pricing rules, signaling the strict statutory analysis that courts may now apply to tax regulations.
Shutdown Leaves Tax Pros Few Options To Find Clients Relief
The IRS has been beset by worsening delays in addressing taxpayers' cases, driven by widespread furloughs and a wave of retirements, and the ongoing government shutdown has compounded the issue by bringing federal district courts to a halt, leaving tax practitioners few options to seek relief for clients.
Federal More
Malawi asked a Washington federal judge to reconsider his recent decision to bar the country from pursuing discovery against a gemstone company that it alleges partnered with a mining outfit to dodge billions ... (more story)
Eaton Corp.'s former chief financial officer chronicled on Tuesday the company's efforts to finance its 2012 acquisition of Ireland-based Cooper Industries, describing an atmosphere of leery bond investors aft... (more story)
In addition to the well-known problem of AI-generated hallucinations in legal documents, AI tools can also hallucinate metadata — threatening the integrity of discovery, the reliability of evidence and the abi... (more story)
A Georgia company asked the U.S. Tax Court to reverse the Internal Revenue Service's adjustments to a claimed noncash charitable contribution for a $61 million conservation easement donation and rule that the ... (more story)
The Internal Revenue Service failed to explain its rejection of a $29 million charitable tax deduction claim for an Alabama-based developer's 2016 conservation easement donation to a regional water district, t... (more story)
The D.C. Circuit seemed unlikely Tuesday to grant a request for resentencing by an IRS contractor serving prison time for leaking the tax returns of President Donald Trump and others to the media, suggesting h... (more story)
An attorney for Eaton Corp. told the U.S. Tax Court on Monday that the interest rates and guarantee fees the company paid to its newly formed Irish parent in 2012 must be analyzed as a set of distinct steps, b... (more story)
State & Local More
Insurance Law Firm's Bid For $600K Biz Tax Refund Flops
Washington appellate judges spurned a Pacific Northwest law firm's request for a roughly $600,000 tax refund on Monday, agreeing with state regulators that the firm owes business taxes on legal services for in... (more story)
Tribes Push Supreme Court To Overturn Okla. Tax Ruling
The Oklahoma Supreme Court incorrectly ruled that a member of the Muscogee Creek Nation owes Oklahoma income tax, groups representing Native American tribes told the U.S. Supreme Court, asking the justices to ... (more story)
Veteran Tax Controversy Atty Moves Team To Kostelanetz
A longtime New Jersey tax attorney and three of his associates have joined Kostelanetz LLP, the boutique tax firm announced Monday, saying it expected them to bolster its tax controversy practice and add to it... (more story)
When Atty Ethics Violations Give Rise To Causes Of Action
Though the Model Rules of Professional Conduct make clear that a violation of the rules does not automatically create a cause of action, attorneys should beware of a few scenarios in which they could face laws... (more story)
Twin Peaks Lender Says Developer Defaulted On $12M Loan
A Florida franchisee group is suing a developer in state court over a $12 million loan to build two Twin Peaks restaurants in an EB-5 visa program, alleging the developer defaulted on the note and then told th... (more story)
Up Next At High Court: Tariffs, Fugitives & Contractor Liability
The U.S. Supreme Court will begin its November oral argument session Monday, during which the justices will consider President Donald Trump's authority to impose tariffs on foreign countries under an emergency... (more story)
Taxation With Representation: Skadden, Davis Polk
In this week's Taxation With Representation, American Water Works Co. and Essential Utilities announce a merger, semiconductor companies Skyworks and Qorvo combine to create an industry giant, and Terex Corp. ... (more story)
Michigan Tax Foreclosure Deal At Risk As Deadline Looms
Property owners on Wednesday asked a Michigan federal judge to undo the initial approval of a settlement reached with counties accused of illegally keeping the proceeds of tax-foreclosed home sales, saying the... (more story)
Trade Deals At Risk In Trump Tariff Case, Feds Tell Justices
The federal government told the U.S. Supreme Court on Thursday that President Donald Trump's global tariffs have led to significant trade deals addressing the underlying national emergencies he declared, and a... (more story)
Washington appellate judges spurned a Pacific Northwest law firm's request for a roughly $600,000 tax refund on Monday, agreeing with state regulators that the firm owes business taxes on legal services for in... (more story)
The Oklahoma Supreme Court incorrectly ruled that a member of the Muscogee Creek Nation owes Oklahoma income tax, groups representing Native American tribes told the U.S. Supreme Court, asking the justices to ... (more story)
A longtime New Jersey tax attorney and three of his associates have joined Kostelanetz LLP, the boutique tax firm announced Monday, saying it expected them to bolster its tax controversy practice and add to it... (more story)
Though the Model Rules of Professional Conduct make clear that a violation of the rules does not automatically create a cause of action, attorneys should beware of a few scenarios in which they could face laws... (more story)
A Florida franchisee group is suing a developer in state court over a $12 million loan to build two Twin Peaks restaurants in an EB-5 visa program, alleging the developer defaulted on the note and then told th... (more story)
The U.S. Supreme Court will begin its November oral argument session Monday, during which the justices will consider President Donald Trump's authority to impose tariffs on foreign countries under an emergency... (more story)
In this week's Taxation With Representation, American Water Works Co. and Essential Utilities announce a merger, semiconductor companies Skyworks and Qorvo combine to create an industry giant, and Terex Corp. ... (more story)
Property owners on Wednesday asked a Michigan federal judge to undo the initial approval of a settlement reached with counties accused of illegally keeping the proceeds of tax-foreclosed home sales, saying the... (more story)
The federal government told the U.S. Supreme Court on Thursday that President Donald Trump's global tariffs have led to significant trade deals addressing the underlying national emergencies he declared, and a... (more story)
International More
Canadian Budget Proposes Slew Of Corporate Tax Breaks
Canada's government aims to introduce immediate expensing for manufacturing, energy, data network infrastructure and scientific research while reinstating first-year write-offs for most capital assets, which w... (more story)
Insolvent UK Co.'s Ex-Director Fights £2M VAT Fraud Case
The former director of a company in liquidation denied an insolvency specialist's claims that he took part in a value-added tax fraud at the business and is liable for paying about £2 million ($2.6 million), s... (more story)
US, China Agree To Cut Tariffs, Restrictions In Trade Truce
The United States and China have agreed to a one-year suspension of certain tariffs, export controls and retaliatory trade restrictions, according to statements by the White House and China's Ministry of Commerce.
UK Co. Can't Shake £8.4M Tax On Goods Imported For Repair
A U.K. subsidiary of a U.S. industrial equipment company isn't entitled to recover roughly £8.4 million ($11 million) in value-added tax on goods it brought into the U.K. for repair and servicing, a London tribunal ruled.
China Delays Expanded Mineral Export Controls, Trump Says
China has agreed to delay for a year an expansion to export controls for key minerals and is set to start purchasing more U.S. agricultural products including soybeans, while U.S. tariffs on Chinese goods will... (more story)
Senate Votes To Ax Global Tariffs, But House Path Blocked
The Senate passed legislation Thursday to end the declared national emergency propping up President Donald Trump's global tariff regime shortly after passing similar bills regarding tariffs on Canada and Brazi... (more story)
IRS Discloses Record In ICE Data Sharing Case
The IRS, following a judge's order, has released its administrative record in a lawsuit over its agreement to share taxpayer information with federal immigration authorities, including emails in which official... (more story)
Canada's government aims to introduce immediate expensing for manufacturing, energy, data network infrastructure and scientific research while reinstating first-year write-offs for most capital assets, which w... (more story)
The former director of a company in liquidation denied an insolvency specialist's claims that he took part in a value-added tax fraud at the business and is liable for paying about £2 million ($2.6 million), s... (more story)
The United States and China have agreed to a one-year suspension of certain tariffs, export controls and retaliatory trade restrictions, according to statements by the White House and China's Ministry of Commerce.
A U.K. subsidiary of a U.S. industrial equipment company isn't entitled to recover roughly £8.4 million ($11 million) in value-added tax on goods it brought into the U.K. for repair and servicing, a London tribunal ruled.
China has agreed to delay for a year an expansion to export controls for key minerals and is set to start purchasing more U.S. agricultural products including soybeans, while U.S. tariffs on Chinese goods will... (more story)
The Senate passed legislation Thursday to end the declared national emergency propping up President Donald Trump's global tariff regime shortly after passing similar bills regarding tariffs on Canada and Brazi... (more story)
The IRS, following a judge's order, has released its administrative record in a lawsuit over its agreement to share taxpayer information with federal immigration authorities, including emails in which official... (more story)