Treasury To Float Guidance For Budget Bill's Int'l Provisions
The U.S. Treasury Department announced plans Thursday to issue regulations for international tax provisions that were modified under the federal budget bill in July, including guidance to help corporations calculate foreign tax credits on certain types of overseas income.
Ore. Waives High Court Response In Delta Intangible Tax Fight
The Oregon Department of Revenue will not respond to Delta Air Lines' petition to the U.S. Supreme Court challenging a state tax on its intangible property unless directed by the court, the department said in a filing.
Colo. Board Advances High-Earner Tax Ballot Measure
Colorado would boost income tax rates for high earners and lower them for others, raising as much as $4 billion annually, under a proposed ballot measure advanced Wednesday by a state board.
Treasury To Float Guidance For Budget Bill's Int'l Provisions
The U.S. Treasury Department announced plans Thursday to issue regulations for international tax provisions that were modified under the federal budget bill in July, including guidance to help corporations calculate foreign tax credits on certain types of overseas income.
Ore. Waives High Court Response In Delta Intangible Tax Fight
The Oregon Department of Revenue will not respond to Delta Air Lines' petition to the U.S. Supreme Court challenging a state tax on its intangible property unless directed by the court, the department said in a filing.
Colo. Board Advances High-Earner Tax Ballot Measure
Colorado would boost income tax rates for high earners and lower them for others, raising as much as $4 billion annually, under a proposed ballot measure advanced Wednesday by a state board.
Federal More
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)
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)
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)
The Sixth Circuit declined to reexamine an August decision that allowed some leeway in extending the U.S. Tax Court's 90-day deadline to file a petition, according to an order dismissing a federal government b... (more story)
The U.S. Department of Justice revived its bid to toss most of a boutique law firm's complaint for not processing its claims for pandemic-era tax credits after settlement negotiations with the firm failed, acc... (more story)
Attorneys representing investors that settled with Vanguard for $25 million to end claims the company improperly triggered an asset sell-off that damaged investors asked a Pennsylvania federal court on Tuesday... (more story)
A Massachusetts executive has agreed to plead guilty in a scheme to avoid paying income taxes and restitution in a 2008 securities fraud case by receiving more than $1.6 million in compensation and benefits un... (more story)
State & Local More
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)
Mass. Justices Question Limits Of Estate Tax Penalties
A fine and interest assessment levied by Massachusetts' tax agency against an estate that filed its return seven years late is excessive and unconstitutional, the estate told the state's high court Wednesday, ... (more story)
State, Federal Incentives Heat Up Geothermal Projects
Geothermal energy can now benefit from dramatically accelerated permitting for development on federal land as well as state-level renewable energy portfolio standards — but operating in the complex legal frame... (more story)
Boston Celeb Chef Facing Default In City's $1.7M Tax Case
Celebrity chef Barbara Lynch failed to line up new counsel or respond to an amended complaint the city of Boston brought against her in state court over an unpaid $1.7 million tax bill for her now-shuttered re... (more story)
Okla. Urges Justices To Turn Down Tribal Tax Case
The Oklahoma Supreme Court properly ruled that a member of the Muscogee (Creek) Nation owes Oklahoma income tax, the state's tax commission told the U.S. Supreme Court on Tuesday, urging the court to deny the ... (more story)
Mich. County's Tax Sale Violates Constitution, Justices Told
A Michigan county violated the takings clause of the U.S. Constitution when it took title to a home over a tax debt, then sold the home at a low price and refunded only that amount to the homeowner, the homeow... (more story)
The Law Firm Merger Diaries: How To Build On Cultural Fit
Law firm mergers should start with people, then move to strategy: A two-level screening that puts finding a cultural fit at the pinnacle of the process can unearth shared values that are instrumental to decidi... (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)
A fine and interest assessment levied by Massachusetts' tax agency against an estate that filed its return seven years late is excessive and unconstitutional, the estate told the state's high court Wednesday, ... (more story)
Geothermal energy can now benefit from dramatically accelerated permitting for development on federal land as well as state-level renewable energy portfolio standards — but operating in the complex legal frame... (more story)
Celebrity chef Barbara Lynch failed to line up new counsel or respond to an amended complaint the city of Boston brought against her in state court over an unpaid $1.7 million tax bill for her now-shuttered re... (more story)
The Oklahoma Supreme Court properly ruled that a member of the Muscogee (Creek) Nation owes Oklahoma income tax, the state's tax commission told the U.S. Supreme Court on Tuesday, urging the court to deny the ... (more story)
A Michigan county violated the takings clause of the U.S. Constitution when it took title to a home over a tax debt, then sold the home at a low price and refunded only that amount to the homeowner, the homeow... (more story)
Law firm mergers should start with people, then move to strategy: A two-level screening that puts finding a cultural fit at the pinnacle of the process can unearth shared values that are instrumental to decidi... (more story)
International More
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.
Most Countries Compliant With Data Exchanges, OECD Says
Many countries are on track with implementing a data-swapping network under global guidelines to exchange financial and tax information, but more could be done to enforce reporting requirements for banks, the ... (more story)
Trump Tariff Refund Rights Should Be Preserved, Costco Says
The federal government should have to refund President Donald Trump's emergency tariffs paid by Costco Wholesale Corp., the company told the U.S. Court of International Trade.
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.
Many countries are on track with implementing a data-swapping network under global guidelines to exchange financial and tax information, but more could be done to enforce reporting requirements for banks, the ... (more story)
The federal government should have to refund President Donald Trump's emergency tariffs paid by Costco Wholesale Corp., the company told the U.S. Court of International Trade.