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4 Questions As Gov't Appeals Illegal Tariff Refund Suit
READY FOR FINAL EDIT -- The government's appeal of an order requiring immediate refunds for tariffs that were deemed illegal by the U.S. Supreme Court earlier this year is the latest obstacle for importers forced to stall investments in new products and brace for a longer wait for their refunds in response.
Data Center Tax Fight Spurs Va. House Study Proposal
Trying to move forward Virginia's budget, which has been snarled for weeks amid an intraparty fight over continuing tax breaks for data centers, state House Democrats proposed what they called a compromise plan Friday that would create a commission to study the centers.
EU Draft Budget Omits Digital Tax, Outlines New Revenues
The Council of the European Union's presidency presented a plan for the next long-term EU budget that does not include proposed taxes on digital services, online gambling and crypto-assets that were under consideration.
4 Questions As Gov't Appeals Illegal Tariff Refund Suit
READY FOR FINAL EDIT -- The government's appeal of an order requiring immediate refunds for tariffs that were deemed illegal by the U.S. Supreme Court earlier this year is the latest obstacle for importers forced to stall investments in new products and brace for a longer wait for their refunds in response.
Data Center Tax Fight Spurs Va. House Study Proposal
Trying to move forward Virginia's budget, which has been snarled for weeks amid an intraparty fight over continuing tax breaks for data centers, state House Democrats proposed what they called a compromise plan Friday that would create a commission to study the centers.
EU Draft Budget Omits Digital Tax, Outlines New Revenues
The Council of the European Union's presidency presented a plan for the next long-term EU budget that does not include proposed taxes on digital services, online gambling and crypto-assets that were under consideration.
Federal More
The D.C. Circuit said Friday that the Internal Revenue Service must reconsider a whistleblower's claim that her information helped the agency collect taxes on more than $31 million in corporate income, reversi... (more story)
The Tenth Circuit should reconsider its decision denying telecommunications company Liberty Global a $2.4 billion income deduction, the U.S. Chamber of Commerce and other groups said, arguing the court excessi... (more story)
Fox Rothschild LLP has hired a former tax attorney from McDermott Will & Schulte LLP who is bringing his advisory practice focused on sophisticated tax planning and structuring matters to the Washington, D.C.,... (more story)
A Virginia federal court judge ordered the federal government Friday to submit in writing that it won't create a $1.8 billion payment fund to settle President Donald Trump's tax leak suit against the Internal ... (more story)
In this week's Taxation With Representation, SpaceX prices a $75 billion initial public offering at its designated price range, Apollo Global Management leads a capital commitment for a Broadcom initiative to ... (more story)
A microcaptive insurance advisory firm asked the Sixth Circuit on Thursday to overturn a Tennessee federal court's ruling that a set of revised IRS rules requiring taxpayers to disclose some microcaptive arran... (more story)
Two investors accused an energy company of selling them fraudulent tax shelters marketed as tribal tax credits for $600,000 in a complaint filed in an Arkansas federal court.
State & Local More
RI Enacts $15B Budget With Phased-In Millionaires Tax
Rhode Island will create a phased-in surcharge on income over $1 million and decouple the state from some federal budget provisions under a $15.2 billion budget plan signed by the state's governor Friday.
Pa. Gross Receipts Tax On Digital Ads Passed By House
Pennsylvania would expand its gross receipts tax to the receipts of companies providing digital advertising in the state under a bill passed by the state House of Representatives.
Ariz. Lawmakers OK Tax Package With Federal Conformity
Arizona would conform the state with most of the tax changes in last year's federal budget legislation, a move projected to save taxpayers $1.4 billion over four years, under bipartisan legislation approved by... (more story)
Philly Budget Signed Without Hotel Tax Hike, Ride-Hail Tax
Philadelphia will not create a tax on ride-hailing trips, increase its hotel tax or charge a tax on retail deliveries after proposals by its mayor failed to make the final city budget.
Crazy Little Thing Called Unsound Tax Policy: SALT In Review
From Tennessee's taxing of prediction markets to Iowa's new exemption for bees, RSM's David Brunori offers his thoughts on noteworthy state and local tax news.
If Upheld, Wash. Millionaire Tax Could Upend State Law
The Washington Supreme Court could open the door to broader income, rental and corporate taxes if it defies precedent and the historically established desires of voters by redefining the state constitution's c... (more story)
Conn. Justices Order New Trial In $13.2M Estate Tax Fight
The Connecticut Supreme Court on Thursday ordered a new trial over the state's $13.2 million tax assessment against the estate of a health insurance executive who died in Florida, saying a trial judge should h... (more story)
Rhode Island will create a phased-in surcharge on income over $1 million and decouple the state from some federal budget provisions under a $15.2 billion budget plan signed by the state's governor Friday.
Pennsylvania would expand its gross receipts tax to the receipts of companies providing digital advertising in the state under a bill passed by the state House of Representatives.
Arizona would conform the state with most of the tax changes in last year's federal budget legislation, a move projected to save taxpayers $1.4 billion over four years, under bipartisan legislation approved by... (more story)
Philadelphia will not create a tax on ride-hailing trips, increase its hotel tax or charge a tax on retail deliveries after proposals by its mayor failed to make the final city budget.
From Tennessee's taxing of prediction markets to Iowa's new exemption for bees, RSM's David Brunori offers his thoughts on noteworthy state and local tax news.
The Washington Supreme Court could open the door to broader income, rental and corporate taxes if it defies precedent and the historically established desires of voters by redefining the state constitution's c... (more story)
The Connecticut Supreme Court on Thursday ordered a new trial over the state's $13.2 million tax assessment against the estate of a health insurance executive who died in Florida, saying a trial judge should h... (more story)
International More
EU States Aim To Expand Carbon Border Tax Downstream
The European Union's council of ministers wants to expand the bloc's tax on emissions-intensive imports from raw materials to a selection of downstream products containing steel and aluminum while also closing... (more story)
Ride App Bolt Can't Cut £190M VAT Bill After All, Court Rules
Ride-hailing giant Bolt can't apply a value-added tax margin scheme to reduce an estimated liability of £190 million ($254.9 million) because its services aren't comparable to travel agency or tour operator se... (more story)
Italy VAT Amnesty Breaches EU Law, Court Adviser Says
Italy's simplified system to help companies resolve their value-added tax disputes by letting them pay only a fraction of their liabilities violates European Union requirements for bloc members to collect VAT ... (more story)
4 Members Of £23M Crypto Money Laundering Ring Jailed
The leaders of a £23.4 million ($31.3 million) money laundering ring that cleaned money for Irish and Kurdish organized criminals were sentenced to a total of more than 27 years imprisonment at a London court Friday.
Ex-Bank Chief Admits Role In Odebrecht Tax Evasion Plot
The former CEO of Austrian lender Meinl Bank AG on Thursday pled guilty in Brooklyn federal court after a yearslong fight over accusations he helped Odebrecht SA hide $170 million in funds used to bribe offici... (more story)
Auto Parts Biz Says Freight Co. Duped It Into Container Fraud
A Michigan-based importer and seller of aftermarket auto parts that was stuck with added costs from U.S. Customs and Border Protection related to empty shipping containers has sued its freight-forwarding contr... (more story)
FedEx Tells 6th Circ. Recent Rulings Back $89M Tax Refund
FedEx's case for an $89 million tax refund is supported by a decision in the U.S. Tax Court that outlined a formula for disallowing foreign tax credits and a Sixth Circuit decision about how to view the purpos... (more story)
The European Union's council of ministers wants to expand the bloc's tax on emissions-intensive imports from raw materials to a selection of downstream products containing steel and aluminum while also closing... (more story)
Ride-hailing giant Bolt can't apply a value-added tax margin scheme to reduce an estimated liability of £190 million ($254.9 million) because its services aren't comparable to travel agency or tour operator se... (more story)
Italy's simplified system to help companies resolve their value-added tax disputes by letting them pay only a fraction of their liabilities violates European Union requirements for bloc members to collect VAT ... (more story)
The leaders of a £23.4 million ($31.3 million) money laundering ring that cleaned money for Irish and Kurdish organized criminals were sentenced to a total of more than 27 years imprisonment at a London court Friday.
The former CEO of Austrian lender Meinl Bank AG on Thursday pled guilty in Brooklyn federal court after a yearslong fight over accusations he helped Odebrecht SA hide $170 million in funds used to bribe offici... (more story)
A Michigan-based importer and seller of aftermarket auto parts that was stuck with added costs from U.S. Customs and Border Protection related to empty shipping containers has sued its freight-forwarding contr... (more story)
FedEx's case for an $89 million tax refund is supported by a decision in the U.S. Tax Court that outlined a formula for disallowing foreign tax credits and a Sixth Circuit decision about how to view the purpos... (more story)