Judge Wants Cost-Benefit Analysis Of Eaton Guarantees
A U.S. Tax Court judge asked one of Eaton's experts Tuesday how much the company could have saved by issuing debt from its new Irish parent in 2012 instead of having the parent guarantee bonds the U.S. company issued to third parties.
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.
Judge Wants Cost-Benefit Analysis Of Eaton Guarantees
A U.S. Tax Court judge asked one of Eaton's experts Tuesday how much the company could have saved by issuing debt from its new Irish parent in 2012 instead of having the parent guarantee bonds the U.S. company issued to third parties.
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.
Federal More
A magistrate judge in Florida federal court rejected arguments from a title insurance company in upholding a U.S. Department of Treasury rule establishing new reporting requirements for all-cash residential re... (more story)
A man convicted of tax fraud will not get a new trial based on his lawyer's removal from the Seventh Circuit Bar two months after his conviction in an unrelated case, the appellate court ruled Tuesday, saying ... (more story)
The IRS properly penalized a janitorial services company for failing to provide employees with healthcare coverage under the Affordable Care Act, the U.S. government said, urging the Fifth Circuit to reverse a... (more story)
A member of the 17-attorney team that left Tarlow Breed Hart & Rodgers PC to launch Shipman & Goodwin LLP's first office in Boston last month has made another move to join Holland & Knight LLP as a partner in ... (more story)
Flight booking giant Sabre's lawsuit over a U.K. digital tax bill should be dismissed or left for a British court to rule on, British Airways told a Texas federal court, arguing that the digital services tax i... (more story)
Two U.S. senators introduced legislation Monday to allow the growing number of college student-athletes inking name, image and likeness deals with companies to create tax-advantaged investment accounts to save... (more story)
Recent additions to a committee note on proposed Rule of Evidence 707 — governing evidence generated by artificial intelligence — seek to mitigate potential dangers that may arise once machine outputs are intr... (more story)
State & Local More
Ohio Lawmakers OK Limits On Pot Legalization, Tax Law
Ohio would restrict cannabis use and the sale of intoxicating hemp products with new criminal penalties for certain activities and make other changes to the state's voter-approved marijuana legalization and ta... (more story)
Tariffs Add Complexity To State Tax Systems, Tax Pros Say
Tariffs promoted by President Donald Trump's administration are increasing state sales and use tax complexity and risk, which may not easily be undone even if the U.S. Supreme Court strikes the tariffs down, t... (more story)
State Taxation Of AI Presents Sourcing Questions, Attys Say
Sourcing and nexus questions related to the taxation of artificial intelligence may arise if states scrutinize the technology under existing tests for taxing services and digital items, tax practitioners said Tuesday.
No Wrongdoing By County In Valuation Row, Md. Court Says
A Maryland man failed to exhaust his administrative remedies or show that county authorities committed constitutional violations when he appealed his property's valuation, the Appellate Court of Maryland said,... (more story)
The Law Firm Merger Diaries: Getting The Message Across
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)
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.
Hogan Lovells Adds Latham Corporate Ace In Houston
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.
Horizontal Stare Decisis Should Not Be Casually Discarded
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)
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)
Ohio would restrict cannabis use and the sale of intoxicating hemp products with new criminal penalties for certain activities and make other changes to the state's voter-approved marijuana legalization and ta... (more story)
Tariffs promoted by President Donald Trump's administration are increasing state sales and use tax complexity and risk, which may not easily be undone even if the U.S. Supreme Court strikes the tariffs down, t... (more story)
Sourcing and nexus questions related to the taxation of artificial intelligence may arise if states scrutinize the technology under existing tests for taxing services and digital items, tax practitioners said Tuesday.
A Maryland man failed to exhaust his administrative remedies or show that county authorities committed constitutional violations when he appealed his property's valuation, the Appellate Court of Maryland said,... (more story)
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. 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.
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)
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)
International More
Reeves Denies Gov't Authorized UK Budget Leak
British Chancellor of the Exchequer Rachel Reeves told a parliamentary committee Wednesday that she didn't authorize briefings of policy discussions to the media ahead of the autumn budget statement.
Conservative Justices Probe 'Husk' Of FTC Firing Protections
The U.S. Supreme Court's conservative majority pushed back Monday against the 90-year-old precedent permitting the removal only for cause of Federal Trade Commission members, and perhaps those serving other in... (more story)
11th Circ. Affirms Tax Court Wrong Venue For FBAR Challenge
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)
IRS-ICE Data Swap Halt Irrelevant In Other Suit, DC Circ. Told
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)
Huntsman Disputes $28.6M Tax Bill From Cut Capital Loss
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)
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)
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)
British Chancellor of the Exchequer Rachel Reeves told a parliamentary committee Wednesday that she didn't authorize briefings of policy discussions to the media ahead of the autumn budget statement.
The U.S. Supreme Court's conservative majority pushed back Monday against the 90-year-old precedent permitting the removal only for cause of Federal Trade Commission members, and perhaps those serving other in... (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)
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)
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)
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)