SC Justices Should Rehear Sales Tax Case, Amazon Says
South Carolina's highest court incorrectly interpreted the state's sales tax law when it ruled that Amazon was required to collect tax on goods that third-party merchants sold on its online platform before the Wayfair decision, the company argued as it urged to court to reconsider.
Little-Known Gambling Tax Could Upend Boom In US Betting
After a record year for U.S. commercial gaming, a little-known tax on phantom income in last year's Republican reconciliation law has spurred bipartisan repeal efforts amid concerns it could alter betting behavior and drain state and local economies built on gambling-related tourism.
Irish Co. Defeats £18M Tax Appeal Over Lehman Bros. Debt
HM Revenue & Customs can't retain over £18 million ($24.3 million) in a withholding tax claimed by an Irish company on debt interest from collapsed bank Lehman Brothers, a London court ruled Monday.
SC Justices Should Rehear Sales Tax Case, Amazon Says
South Carolina's highest court incorrectly interpreted the state's sales tax law when it ruled that Amazon was required to collect tax on goods that third-party merchants sold on its online platform before the Wayfair decision, the company argued as it urged to court to reconsider.
Little-Known Gambling Tax Could Upend Boom In US Betting
After a record year for U.S. commercial gaming, a little-known tax on phantom income in last year's Republican reconciliation law has spurred bipartisan repeal efforts amid concerns it could alter betting behavior and drain state and local economies built on gambling-related tourism.
Irish Co. Defeats £18M Tax Appeal Over Lehman Bros. Debt
HM Revenue & Customs can't retain over £18 million ($24.3 million) in a withholding tax claimed by an Irish company on debt interest from collapsed bank Lehman Brothers, a London court ruled Monday.
Federal More
The U.S. Supreme Court won't review the Internal Revenue Service's rejection of a Texas doctor's claim to $1 million in tax deductions linked to his urgent care network's captive insurance company, the court said Monday.
Recent oral arguments in the U.S. Supreme Court case Pung v. Isabella focused on rules for valuation, timing and administrability of tax auction proceeds and whichever method the court adopts for determining j... (more story)
A New York attorney has filed a $3.1 million contract suit against her former employer, accusing an Oklahoma-based national litigation firm of terminating her employment after she requested an overdue invoice,... (more story)
The founder of now-defunct Buy.com told the Tenth Circuit that the IRS cannot use "a patchwork of documents" to show it didn't miss the window to hit him with a nearly $16 million tax bill, pushing for reversa... (more story)
The Internal Revenue Service fell short in its request for the full Fifth Circuit to revisit a high-profile case it lost in January over the self-employment tax exception for business partners with limited lia... (more story)
A forensic accountant testified in Florida federal court on Friday that his investigation into the finances of politician David Rivera found that no funds were given to Venezuelan opposition officials, telling... (more story)
The Internal Revenue Service's funding would be cut by $1 billion for the 2027 fiscal year under legislation advanced Friday by a House Appropriations subcommittee.
State & Local More
Tenn. Senate OKs Tax On International Money Transfers
Tennessee would impose a tax on money transferred from the state to anywhere outside the country and U.S. territories under a bill passed by the state Senate.
Taxation With Representation: Skadden, Stikeman Elliott
In this week's Taxation With Representation, Amazon.com Inc. buys satellite communications company Globalstar Inc., waste management company GFL Environmental Inc. acquires Secure Waste Infrastructure Corp., a... (more story)
2 Discovery Rulings Break With Heppner On AI Privilege Issue
While a New York federal court’s recent ruling in U.S. v. Heppner suggests that some litigants’ communications with AI tools are discoverable, two other recent federal court decisions demonstrate that such int... (more story)
What's Right Isn't Always Easy To Swallow: SALT In Review
From vodka warehoused in Maine to Nebraska's new excise on something called kratom, RSM's David Brunori offers his thoughts on noteworthy state and local tax news.
NYC Tribunal Says Case's 20-Year Hold Didn't Violate Rights
A New York City tribunal rejected an insurance agent's arguments that his tax case that was stuck on hold for nearly 20 years while he waited for a quorum to hear it should be dismissed for denying him due process.
Minn. Senate Panel Pitched On Hennepin Sales Tax Hike
Minnesota would boost the sales tax in its largest county, with some of the resulting funds dedicated to local healthcare facilities, under legislation before a Senate panel on Wednesday.
Virginia Governor Proposes Delaying Cannabis Retail Sales
Virginia Gov. Abigail Spanberger on Tuesday declined to sign into law legislation that would tax and regulate the sale of adult-use cannabis, sending the bill back to the Legislature with numerous changes, inc... (more story)
Tennessee would impose a tax on money transferred from the state to anywhere outside the country and U.S. territories under a bill passed by the state Senate.
In this week's Taxation With Representation, Amazon.com Inc. buys satellite communications company Globalstar Inc., waste management company GFL Environmental Inc. acquires Secure Waste Infrastructure Corp., a... (more story)
While a New York federal court’s recent ruling in U.S. v. Heppner suggests that some litigants’ communications with AI tools are discoverable, two other recent federal court decisions demonstrate that such int... (more story)
From vodka warehoused in Maine to Nebraska's new excise on something called kratom, RSM's David Brunori offers his thoughts on noteworthy state and local tax news.
A New York City tribunal rejected an insurance agent's arguments that his tax case that was stuck on hold for nearly 20 years while he waited for a quorum to hear it should be dismissed for denying him due process.
Minnesota would boost the sales tax in its largest county, with some of the resulting funds dedicated to local healthcare facilities, under legislation before a Senate panel on Wednesday.
Virginia Gov. Abigail Spanberger on Tuesday declined to sign into law legislation that would tax and regulate the sale of adult-use cannabis, sending the bill back to the Legislature with numerous changes, inc... (more story)
International More
UK Co. Should Have Known About VAT Fraud, Tribunal Says
A computer company should have known it was dealing with value-added tax fraudsters whose business was too good to be true, so HMRC's denial of a nearly £430,000 ($582,000) tax deduction is valid, the First-ti... (more story)
Reform UK Deputy Says His Co. May Have Made Tax Errors
Reform UK deputy Richard Tice said "some errors" are inevitable when running multiple businesses following a report that his investment company failed to pay almost £100,000 ($135,000) in corporate tax, adding... (more story)
Brexit Backer Owes Inheritance Tax On Donations, Court Says
A former hedge fund manager who donated about £750,000 ($1 million) to political groups that mostly advocated for Brexit isn't exempt from about £100,000 of inheritance tax on his donations, the First-tier Tri... (more story)
Furniture Cos.' $19M Captive Insurance Scam Suit Resumed
A Maryland federal court has resumed a lawsuit accusing a D.C. corporate tax attorney and his former law firm of a $19 million captive insurance scam following notification that the bankruptcy proceedings of t... (more story)
Taxing Digital Economy Gaining More Traction, OECD says
An official from the Organization for Economic Cooperation and Development said Friday that the Paris-based group is engaging in constructive dialogue on the taxation of the digital economy as interest in the subject grows.
Senate Bill Seeks To End Carried Interest Tax Break
Fund managers would face annual taxation of carried interest based on imputed compensation, instead of primarily enjoying long-term capital gains rates, under a bill introduced Thursday by Senate Finance Commi... (more story)
Defunct Canada Law Firm Can't Get Bad Debt Tax Deduction
A shuttered Canadian law firm can't get a tax break on unpaid client bills, the Tax Court of Canada ruled, holding that the firm didn't make a sufficient effort to chase down payments before claiming a bad debt deduction.
A computer company should have known it was dealing with value-added tax fraudsters whose business was too good to be true, so HMRC's denial of a nearly £430,000 ($582,000) tax deduction is valid, the First-ti... (more story)
Reform UK deputy Richard Tice said "some errors" are inevitable when running multiple businesses following a report that his investment company failed to pay almost £100,000 ($135,000) in corporate tax, adding... (more story)
A former hedge fund manager who donated about £750,000 ($1 million) to political groups that mostly advocated for Brexit isn't exempt from about £100,000 of inheritance tax on his donations, the First-tier Tri... (more story)
A Maryland federal court has resumed a lawsuit accusing a D.C. corporate tax attorney and his former law firm of a $19 million captive insurance scam following notification that the bankruptcy proceedings of t... (more story)
An official from the Organization for Economic Cooperation and Development said Friday that the Paris-based group is engaging in constructive dialogue on the taxation of the digital economy as interest in the subject grows.
Fund managers would face annual taxation of carried interest based on imputed compensation, instead of primarily enjoying long-term capital gains rates, under a bill introduced Thursday by Senate Finance Commi... (more story)
A shuttered Canadian law firm can't get a tax break on unpaid client bills, the Tax Court of Canada ruled, holding that the firm didn't make a sufficient effort to chase down payments before claiming a bad debt deduction.