3 Things To Keep In Mind About IRS' Corporate Audit Changes
The IRS' revamped audit process for corporate taxpayers will likely streamline examinations, but companies may now shoulder new responsibilities when presenting facts and face lingering uncertainties when weighing whether to participate in a broadened settlement program. Here, Law360 examines three key issues for companies to consider under the new audit process.
Md. Tech Groups Praise Cybersecurity Tax Credit Plan
Expanding eligibility for Maryland's cybersecurity tax credit would help more customers use tools from companies in the state to protect their data and information systems, industry representatives and the state's Commerce Department director told legislators Thursday.
What Makes A Good Tax Court Expert? Economists Share Tips
It's not easy being an expert witness in a U.S. Tax Court case. Lawyers ask leading questions and bring up old research; hypothetical scenarios abound, requiring analysis on the fly; and judges have varying levels of expertise, with some seeking detailed explanation and others offended by it.
3 Things To Keep In Mind About IRS' Corporate Audit Changes
The IRS' revamped audit process for corporate taxpayers will likely streamline examinations, but companies may now shoulder new responsibilities when presenting facts and face lingering uncertainties when weighing whether to participate in a broadened settlement program. Here, Law360 examines three key issues for companies to consider under the new audit process.
Md. Tech Groups Praise Cybersecurity Tax Credit Plan
Expanding eligibility for Maryland's cybersecurity tax credit would help more customers use tools from companies in the state to protect their data and information systems, industry representatives and the state's Commerce Department director told legislators Thursday.
What Makes A Good Tax Court Expert? Economists Share Tips
It's not easy being an expert witness in a U.S. Tax Court case. Lawyers ask leading questions and bring up old research; hypothetical scenarios abound, requiring analysis on the fly; and judges have varying levels of expertise, with some seeking detailed explanation and others offended by it.
Federal More
The Senate passed an appropriations package Friday that would fund several government departments and agencies, including the U.S. Department of the Treasury, and provide the Internal Revenue Service with an $... (more story)
A former Florida congressman and a lobbyist charged with failing to register as foreign agents for Venezuela urged a federal court to disqualify an assistant U.S. attorney in the case, saying Friday that the p... (more story)
The U.S. Trade Representative condemned the World Trade Organization's decision to side with China in a dispute over energy tax credits passed during former President Joe Biden's term Friday, calling the globa... (more story)
Halliburton has overblown its attorney-client privilege claims over a set of key legal documents the U.S. Department of Justice wants the global oil field operator to disclose as part of the company's $35 mill... (more story)
Though the emotional wear and tear of legal work can trap attorneys in conflict fatigue — leaving them unable to shake off tense interactions or return to a calm baseline — simple therapeutic techniques for re... (more story)
In this week's Taxation With Representation, real estate investment trust Apollo Commercial Real Estate Finance Inc. announces plans to sell a loan portfolio to retirement services company Athene Holding Ltd.,... (more story)
The owner of a vertical farming business was sentenced to three years in prison and ordered to pay nearly $1 million in restitution after he admitted to evading taxes and lying to his clients, according to a j... (more story)
State & Local More
Conn. Justices Free Calif. Woman From Tax Bank Seizure
The Connecticut Supreme Court on Friday ruled that a tax collector cannot recover a shuttered company's debts from a California woman's personal bank accounts, saying the case presented an issue of first impre... (more story)
3 Key Ohio Financial Services Developments From 2025
Ohio's banking and financial services sector saw particularly notable developments in 2025, including a significant Ohio Supreme Court decision on creditor disclosure duties to guarantors in Huntington Nationa... (more story)
Prosecutors Can't Revive RICO Case Against NJ Power Broker
The New Jersey Appellate Division on Friday rejected a bid from state prosecutors to revive the criminal racketeering case against South Jersey powerbroker George Norcross and several others, finding that the ... (more story)
MTC Group Unveils Draft For Partnership Tax Sourcing
The Multistate Tax Commission group working on state taxation of partnerships released a first draft Thursday of a model statute for sourcing partnership income that states could eventually copy.
Rescheduling Cannabis Marks New Tax Era For Operators
As the attorney general takes steps to move cannabis from Schedule I to Schedule III of the Controlled Substances Act, operators and advisers should prepare by considering the significant changes this will bri... (more story)
Mo. Biz Groups Seek Exemptions In Income, Sales Tax Plan
Missouri business representatives voiced concern Wednesday that a proposed constitutional amendment to phase out the personal income tax in exchange for a broader sales tax base doesn't include any exemptions ... (more story)
Cantor Fitzgerald Loses $7.8M NY Tax Case Over Subsidiaries
Cantor Fitzgerald owes $7.77 million in New York City unincorporated business tax revenue because the company incorrectly aggregated the business activities of non-city subsidiaries that brought down its tax b... (more story)
The Connecticut Supreme Court on Friday ruled that a tax collector cannot recover a shuttered company's debts from a California woman's personal bank accounts, saying the case presented an issue of first impre... (more story)
Ohio's banking and financial services sector saw particularly notable developments in 2025, including a significant Ohio Supreme Court decision on creditor disclosure duties to guarantors in Huntington Nationa... (more story)
The New Jersey Appellate Division on Friday rejected a bid from state prosecutors to revive the criminal racketeering case against South Jersey powerbroker George Norcross and several others, finding that the ... (more story)
The Multistate Tax Commission group working on state taxation of partnerships released a first draft Thursday of a model statute for sourcing partnership income that states could eventually copy.
As the attorney general takes steps to move cannabis from Schedule I to Schedule III of the Controlled Substances Act, operators and advisers should prepare by considering the significant changes this will bri... (more story)
Missouri business representatives voiced concern Wednesday that a proposed constitutional amendment to phase out the personal income tax in exchange for a broader sales tax base doesn't include any exemptions ... (more story)
Cantor Fitzgerald owes $7.77 million in New York City unincorporated business tax revenue because the company incorrectly aggregated the business activities of non-city subsidiaries that brought down its tax b... (more story)
International More
8th Circ.'s Ruling For 3M 'Makes No Sense,' Gov't Says
The Eighth Circuit's ruling that Brazilian law prevented the IRS from reallocating income to 3M from its subsidiary in that country "makes no sense" because the law limits only royalties, not other forms of in... (more story)
Imported Scooters Not Duty-Free, UK Court Says In Reversal
Mobility scooters imported into the U.K. by two companies should be assessed a 10% duty, a London court ruled, reversing a lower court decision it said labeled the scooters duty-free due to a misapplication of relevant rules.
Fund Managers Should Be Taxed As Workers, HMRC Testifies
Portfolio managers at BlueCrest Capital Management should be taxed as disguised employees because they don't hold wider legal responsibilities at the hedge fund, Britain's tax authority told the U.K. Supreme C... (more story)
SocGen Loses Case Against French Electric Grid Fees
A European Union court upheld fees that French companies must pay to access the country's electric grid, ruling against banking giant Société Générale in holding that the payments don't amount to indirect exci... (more story)
Microsemi To Report $144M In Overseas Sales In Settlement
Semiconductor manufacturer Microsemi has agreed to report $144 million in income from sales to its Irish affiliate but will avoid some tax penalties under the terms of a transfer pricing settlement with the In... (more story)
Fund Managers Should Be Taxed As Partners, UK Court Told
Portfolio managers at a hedge fund should be taxed as partners, not disguised employees, because they have significant influence at the partnership, a hedge fund told the U.K. Supreme Court on Wednesday.
Judges On AI: How Judicial Use Informs Guardrails
U.S. Magistrate Judge Maritza Dominguez Braswell at the U.S. District Court for the District of Colorado discusses why having a sense of how generative AI tools behave, where they add value, where they introdu... (more story)
The Eighth Circuit's ruling that Brazilian law prevented the IRS from reallocating income to 3M from its subsidiary in that country "makes no sense" because the law limits only royalties, not other forms of in... (more story)
Mobility scooters imported into the U.K. by two companies should be assessed a 10% duty, a London court ruled, reversing a lower court decision it said labeled the scooters duty-free due to a misapplication of relevant rules.
Portfolio managers at BlueCrest Capital Management should be taxed as disguised employees because they don't hold wider legal responsibilities at the hedge fund, Britain's tax authority told the U.K. Supreme C... (more story)
A European Union court upheld fees that French companies must pay to access the country's electric grid, ruling against banking giant Société Générale in holding that the payments don't amount to indirect exci... (more story)
Semiconductor manufacturer Microsemi has agreed to report $144 million in income from sales to its Irish affiliate but will avoid some tax penalties under the terms of a transfer pricing settlement with the In... (more story)
Portfolio managers at a hedge fund should be taxed as partners, not disguised employees, because they have significant influence at the partnership, a hedge fund told the U.K. Supreme Court on Wednesday.
U.S. Magistrate Judge Maritza Dominguez Braswell at the U.S. District Court for the District of Colorado discusses why having a sense of how generative AI tools behave, where they add value, where they introdu... (more story)