Meta Fights $16B Tax Bill Over Facebook's Cost-Sharing Deal
Facebook parent Meta Inc. is challenging a nearly $16 billion tax bill stemming from an agreement with an Irish affiliate to share the costs of developing intangibles, telling the U.S. Tax Court that the IRS can't relitigate issues the court already addressed.
Mich. Judge Won't Block 24% Wholesale Cannabis Tax
A judge said she won't stop Michigan's excise tax on wholesale marijuana sales from going into effect Jan. 1, finding Monday that a trade association and cannabis businesses were unlikely to succeed on claims the tax was unlawfully enacted.
Justices Won't Review Bankruptcy Court's Scope In Tax Case
The U.S. Supreme Court announced Monday that it will not take up an Indiana couple's bid for a bankruptcy court to review the legality of a tax debt, maintaining an appellate split on the power of bankruptcy courts to address tax claims.
Meta Fights $16B Tax Bill Over Facebook's Cost-Sharing Deal
Facebook parent Meta Inc. is challenging a nearly $16 billion tax bill stemming from an agreement with an Irish affiliate to share the costs of developing intangibles, telling the U.S. Tax Court that the IRS can't relitigate issues the court already addressed.
Mich. Judge Won't Block 24% Wholesale Cannabis Tax
A judge said she won't stop Michigan's excise tax on wholesale marijuana sales from going into effect Jan. 1, finding Monday that a trade association and cannabis businesses were unlikely to succeed on claims the tax was unlawfully enacted.
Justices Won't Review Bankruptcy Court's Scope In Tax Case
The U.S. Supreme Court announced Monday that it will not take up an Indiana couple's bid for a bankruptcy court to review the legality of a tax debt, maintaining an appellate split on the power of bankruptcy courts to address tax claims.
Federal More
Tax and legal services provider Andersen Group launched plans for an estimated $165 million initial public offering, according to a filing with the U.S. Securities and Exchange Commission on Monday.
Communications and brand strategy during a law firm merger represent a crucial thread that runs through every stage of a combination and should include clear messaging, leverage modern marketing tools and embr... (more story)
The U.S. Tax Court isn't the right venue for a couple to challenge the Internal Revenue Service's denial of a hearing over the agency withholding their Social Security benefits to cover penalties stemming from... (more story)
Hogan Lovells announced Monday that it has bolstered its tax, pensions and benefits offerings with a Houston-based attorney who came aboard from Latham & Watkins LLP.
Eliminating the so-called law of the circuit doctrine — as recently proposed by a Fifth Circuit judge, echoing Justice Neil Gorsuch’s concurrence in Loper Bright — would undermine public confidence in the judi... (more story)
A D.C. federal court's order pausing the Internal Revenue Service's ability to share confidential taxpayer addresses with immigration enforcement officials should not impact a separate D.C. Circuit proceeding ... (more story)
Multinational chemical manufacturer Huntsman is challenging the IRS over a $28.6 million tax bill that resulted from the agency reducing its carried-forward loss from selling a spun-off pigments business, acco... (more story)
State & Local More
US Can Join Hawaii Transient Tax Case, Court Rules
The U.S. government can join a group of cruise businesses in their challenge of Hawaii's transient occupancy tax expansion after meeting the intervention requirements, a U.S. district court ruled.
NH Supreme Court Asked To Affirm Tax Loss Offset Ruling
New Hampshire's justices should affirm a lower court's finding that a capital loss carryback can be used to offset capital gains in a combined group, even if the loss and gain are generated by different group ... (more story)
Colo. Justices Urged To Scrap Ballot Plan To Expand TABOR
A proposed ballot measure to require voter approval for a broader range of fees under Colorado's Taxpayer's Bill of Rights unlawfully contains more than a single subject and should be rejected, an opponent of ... (more story)
Food For Thought On Taxes, By The Bagful: SALT In Review
From a welcome annual ranking of the states' tax climates to the Virginia capital city's new tax on plastic bags, RSM's David Brunori offers his thoughts on noteworthy state and local tax news.
10 Commandments For Agentic AI Tools In The Legal Industry
Though agentic artificial intelligence has demonstrated significant promise for optimizing legal work, it presents numerous risks, so specific ethical obligations should be built into the knowledge base of eve... (more story)
NYU Tax Group Backs IRS In 1st Circ. Limited Partner Row
Partners who are active participants in a partnership's business despite their status as limited partners under state law are not exempt from the self-employment tax, New York University's tax law center told ... (more story)
NY Tax Talk: New ALJs, New Rules, Apportionment, Bundling
Attorneys at Eversheds review the top New York tax law developments from last quarter, including appointments to the New York City Tax Appeals Tribunal and the city's proposed rules to clarify income taxation ... (more story)
Mineral Rights At Former Mo. Gas Station Ruled Worthless
A convenience store company's interest in mineral rights it retained when it sold a gas station property are correctly valued at $0 and not taxable, the Missouri Court of Appeals ruled, upholding decisions of ... (more story)
Wisconsin Village Loses Bid to Block Oneida Land Trust
A federal court judge affirmed an Interior Department decision to place 500 acres of properties into a trust for the Oneida Nation, rejecting claims by a Wisconsin village that the transfers were based on a bi... (more story)
The U.S. government can join a group of cruise businesses in their challenge of Hawaii's transient occupancy tax expansion after meeting the intervention requirements, a U.S. district court ruled.
New Hampshire's justices should affirm a lower court's finding that a capital loss carryback can be used to offset capital gains in a combined group, even if the loss and gain are generated by different group ... (more story)
A proposed ballot measure to require voter approval for a broader range of fees under Colorado's Taxpayer's Bill of Rights unlawfully contains more than a single subject and should be rejected, an opponent of ... (more story)
From a welcome annual ranking of the states' tax climates to the Virginia capital city's new tax on plastic bags, RSM's David Brunori offers his thoughts on noteworthy state and local tax news.
Though agentic artificial intelligence has demonstrated significant promise for optimizing legal work, it presents numerous risks, so specific ethical obligations should be built into the knowledge base of eve... (more story)
Partners who are active participants in a partnership's business despite their status as limited partners under state law are not exempt from the self-employment tax, New York University's tax law center told ... (more story)
Attorneys at Eversheds review the top New York tax law developments from last quarter, including appointments to the New York City Tax Appeals Tribunal and the city's proposed rules to clarify income taxation ... (more story)
A convenience store company's interest in mineral rights it retained when it sold a gas station property are correctly valued at $0 and not taxable, the Missouri Court of Appeals ruled, upholding decisions of ... (more story)
A federal court judge affirmed an Interior Department decision to place 500 acres of properties into a trust for the Oneida Nation, rejecting claims by a Wisconsin village that the transfers were based on a bi... (more story)
International More
Judge Skeptical Implicit Support Worthless To Eaton Investors
A U.S. Tax Court judge closely questioned Thursday an expert for Eaton who said potential investors would not have counted on financial support from the company's parent in the event it couldn't meet its oblig... (more story)
IRS Official Tells Court She Can't Find New Job After Leak
The commissioner of the IRS' Large Business and International Division, who was placed on leave, told a D.C. federal court that she cannot find a new job due to the agency's alleged unlawful leak of informatio... (more story)
Belgian Court Refers FATCA Data Case To EU's Top Court
A Brussels court referred a case to the Court of Justice of the European Union concerning whether transfers of U.S. taxpayer data breach EU privacy law, according to a court document released Thursday.
Over 2 Dozen Countries Commit To Property Tax Transparency
A group of 26 jurisdictions committed Thursday to adopting a framework developed by the Organization for Economic Cooperation and Development to facilitate the exchange of real estate information among tax authorities.
HMRC OK To Fire Union Rep Who Promoted Strike Via Teams
HM Revenue & Customs did not act unfairly by sacking a long-standing trade union rep for gross misconduct after he sent 67 Microsoft Teams messages to staff who declined to join a strike in 2023, a tribunal has ruled.
UK Importer Must Pay Tax On PPE, Court Affirms
A logistics company must pay £1.4 million ($1.8 million) in customs duties and value-added tax for personal protective equipment imported from China to the U.K. during the COVID-19 pandemic in 2020, a London c... (more story)
Thai Cabinet Backs Carbon Tax, Border Tax, Emissions Trading
Thailand would institute a carbon tax, emissions trading system and carbon-border adjustment mechanism under the country's first comprehensive climate bill, approved Tuesday by the country's cabinet.
A U.S. Tax Court judge closely questioned Thursday an expert for Eaton who said potential investors would not have counted on financial support from the company's parent in the event it couldn't meet its oblig... (more story)
The commissioner of the IRS' Large Business and International Division, who was placed on leave, told a D.C. federal court that she cannot find a new job due to the agency's alleged unlawful leak of informatio... (more story)
A Brussels court referred a case to the Court of Justice of the European Union concerning whether transfers of U.S. taxpayer data breach EU privacy law, according to a court document released Thursday.
A group of 26 jurisdictions committed Thursday to adopting a framework developed by the Organization for Economic Cooperation and Development to facilitate the exchange of real estate information among tax authorities.
HM Revenue & Customs did not act unfairly by sacking a long-standing trade union rep for gross misconduct after he sent 67 Microsoft Teams messages to staff who declined to join a strike in 2023, a tribunal has ruled.
A logistics company must pay £1.4 million ($1.8 million) in customs duties and value-added tax for personal protective equipment imported from China to the U.K. during the COVID-19 pandemic in 2020, a London c... (more story)
Thailand would institute a carbon tax, emissions trading system and carbon-border adjustment mechanism under the country's first comprehensive climate bill, approved Tuesday by the country's cabinet.