Middle East Residents Fleeing War Face Tax Bills In UK
British citizens who reside in the United Arab Emirates and other Persian Gulf states returning home because of the war in Iran may face tax bills from HM Revenue & Customs on overseas deals, as Britain's tax authority appears unlikely to make concessions for them.
FedEx Asks 6th Circ. To Uphold $89M Foreign Tax Credit
FedEx is entitled to an $89 million tax refund because the U.S. Department of the Treasury lacked the authority to issue regulations disallowing foreign tax credits for offset earnings, the company told the Sixth Circuit, asking the court to uphold a lower court ruling.
Biz Groups Decry Colo. Plan To End 80-20 Corp. Tax Rule
A Colorado House panel advanced a bill that would change the treatment of corporate taxpayers with foreign affiliates in a way that supporters said would close a tax loophole, but business groups said the proposal could stifle growth and cause double taxation.
Middle East Residents Fleeing War Face Tax Bills In UK
British citizens who reside in the United Arab Emirates and other Persian Gulf states returning home because of the war in Iran may face tax bills from HM Revenue & Customs on overseas deals, as Britain's tax authority appears unlikely to make concessions for them.
FedEx Asks 6th Circ. To Uphold $89M Foreign Tax Credit
FedEx is entitled to an $89 million tax refund because the U.S. Department of the Treasury lacked the authority to issue regulations disallowing foreign tax credits for offset earnings, the company told the Sixth Circuit, asking the court to uphold a lower court ruling.
Biz Groups Decry Colo. Plan To End 80-20 Corp. Tax Rule
A Colorado House panel advanced a bill that would change the treatment of corporate taxpayers with foreign affiliates in a way that supporters said would close a tax loophole, but business groups said the proposal could stifle growth and cause double taxation.
Federal More
U.S. Secretary of State Marco Rubio would not have met with his old friend, former Rep. David Rivera, to discuss a government transition in Venezuela had he known Rivera's company had a contract with a subsidi... (more story)
SCOTUSblog founder and appellate icon Thomas Goldstein has filed a lengthy motion for a new trial or acquittal after his conviction on a dozen criminal charges related to tax evasion, alleging his trial was ma... (more story)
The Internal Revenue Service has rapidly increased its artificial intelligence use since August 2022, but major staffing reductions at the agency could have a significant impact on its ability to use AI, the U... (more story)
A lower-ranking IRS agent was allowed to tell a couple, before getting her supervisor's approval, that she recommended they pay tax penalties, the federal government told the U.S. Supreme Court in urging it to... (more story)
Tax administrations in member countries of the Organization for Economic Cooperation and Development are using artificial intelligence mainly to detect tax evasion and fraud, the OECD reported Tuesday, saying ... (more story)
A man who missed the deadline for challenging his tax bill in the U.S. Tax Court should not be allowed extra time to make his case, the government told the Fourth Circuit on Monday, saying the deadline, despit... (more story)
A North Dakota law firm that got the U.S. Supreme Court to revive its day-late levy challenge has failed to prove that it deserved equitable tolling of its statute of limitations, the IRS told the Eighth Circuit on Monday.
State & Local More
MTC Airline Reg Updates Draw No Comments At Hearing
A Multistate Tax Commission proposal to update a sourcing regulation for airlines to account for sales of Wi-Fi access and other business practices that didn't exist when the rule was adopted in the 1980s didn... (more story)
Wash. OKs Cash Transaction Rounding Rules As Penny Fades
Washington adopted a law on Monday allowing cash retail transactions to be rounded to the nearest nickel increment, providing clarity for Evergreen State merchants in the wake of the federal government's decis... (more story)
Ga. Updates Federal Tax Conformity, Provides Refunds
Georgia will update its conformity to the Internal Revenue Code, offer income tax exemptions for overtime and tips and provide a one-time tax refund of up to $500 per household under bills signed by Republican... (more story)
5 Tips For Navigating Your Firm's All-Attorney Summit
Law firm retreats should be approached strategically, as they present valuable opportunities to advance both the firm's objectives and attorneys' professional development through meaningful participation, buil... (more story)
Duane Morris Bolsters SF Team With Hanson Bridgett Hire
Duane Morris LLP is growing its West Coast team, bringing in a Hanson Bridgett LLP transactions attorney as a partner in its San Francisco office.
Neb. Tax Board Backs $1M Assessment Of Home
The Nebraska tax review board said that a residential property was fairly assessed at over $1 million, siding with the local assessor's sales comparison approach in an order released Friday.
Taxation With Representation: Clifford Chance, Davis Polk
In this Week's Taxation With Representation, Public Storage acquires National Storage Affiliates Trust, 3M teams up with Bain Capital to buy Madison Fire & Rescue, and Mastercard acquires stablecoin infrastructure firm BVNK.
A Multistate Tax Commission proposal to update a sourcing regulation for airlines to account for sales of Wi-Fi access and other business practices that didn't exist when the rule was adopted in the 1980s didn... (more story)
Washington adopted a law on Monday allowing cash retail transactions to be rounded to the nearest nickel increment, providing clarity for Evergreen State merchants in the wake of the federal government's decis... (more story)
Georgia will update its conformity to the Internal Revenue Code, offer income tax exemptions for overtime and tips and provide a one-time tax refund of up to $500 per household under bills signed by Republican... (more story)
Law firm retreats should be approached strategically, as they present valuable opportunities to advance both the firm's objectives and attorneys' professional development through meaningful participation, buil... (more story)
Duane Morris LLP is growing its West Coast team, bringing in a Hanson Bridgett LLP transactions attorney as a partner in its San Francisco office.
The Nebraska tax review board said that a residential property was fairly assessed at over $1 million, siding with the local assessor's sales comparison approach in an order released Friday.
In this Week's Taxation With Representation, Public Storage acquires National Storage Affiliates Trust, 3M teams up with Bain Capital to buy Madison Fire & Rescue, and Mastercard acquires stablecoin infrastructure firm BVNK.
International More
EU, Australia Reach Major Free Trade Deal, Cut Tariffs
The European Union and Australia on Tuesday agreed to terms of a free trade deal that would nearly zero out tariffs on trade between them following eight years of negotiations.
Bahamian Law Can't Shield Trusts In $28M Tax Suit, DOJ Says
A Floridian facing a $28 million tax bill cannot invoke Bahamian law to avoid repatriating funds held in two Bahamian trusts, the U.S. government told a federal court, contending he is "cherry-picking" which j... (more story)
Brexit Donor Loses Appeal Of Inheritance Tax Bill
A political donor's bid to secure an inheritance tax exemption on £1.7 million ($2.2 million) in Brexit campaign donations made as lifetime gifts has been dismissed by a London tribunal.
Frozen Tax Thresholds Boost UK Inheritance Tax Receipts
Inheritance tax revenue is still rising due to the freeze on tax thresholds amid rising house prices, Britain's tax authority said Friday.
Aussie Tax Agency Says Pepsi's Court Win Has Limited Reach
A ruling from Australia's top court that sided with Pepsi in a long-running tax dispute is likely to have limited applications to other cases because of the beverage giant's uncommon facts, according to the Au... (more story)
Paris Firm Adds Longtime Transfer Pricing Expert
De Gaulle Fleurance, a Paris firm specializing in business law, has boosted its international tax department with the addition of a longtime expert in transfer pricing.
Tariff Refund System Testing Underway, US Customs Says
The program for U.S. importers to claim refunds for tariffs paid under the global regime struck down by the U.S. Supreme Court is undergoing testing, according to a declaration by a Customs and Border Protecti... (more story)
The European Union and Australia on Tuesday agreed to terms of a free trade deal that would nearly zero out tariffs on trade between them following eight years of negotiations.
A Floridian facing a $28 million tax bill cannot invoke Bahamian law to avoid repatriating funds held in two Bahamian trusts, the U.S. government told a federal court, contending he is "cherry-picking" which j... (more story)
A political donor's bid to secure an inheritance tax exemption on £1.7 million ($2.2 million) in Brexit campaign donations made as lifetime gifts has been dismissed by a London tribunal.
Inheritance tax revenue is still rising due to the freeze on tax thresholds amid rising house prices, Britain's tax authority said Friday.
A ruling from Australia's top court that sided with Pepsi in a long-running tax dispute is likely to have limited applications to other cases because of the beverage giant's uncommon facts, according to the Au... (more story)
De Gaulle Fleurance, a Paris firm specializing in business law, has boosted its international tax department with the addition of a longtime expert in transfer pricing.
The program for U.S. importers to claim refunds for tariffs paid under the global regime struck down by the U.S. Supreme Court is undergoing testing, according to a declaration by a Customs and Border Protecti... (more story)