Fla. Panel Advances Stricter Caps On Assessment Increases
Florida's House tax-writing committee advanced a constitutional amendment Tuesday that would ask voters to place tighter limits on property assessment increases used to calculate nonschool property taxes.
Trump's Greenland Tariff Threats Could Backfire On US
The brief turmoil over President Donald Trump's sweeping tariff threats involving Greenland has abated for Europe and the global financial markets, but European governments may be more likely to retaliate with their own tariffs on the U.S. in the future, experts said.
Justices' FCC Review Could Reshape IRS Penalty Disputes
The U.S. Supreme Court's upcoming review of a pair of cases questioning the validity of the Federal Communications Commission's penalty authority could have ripple effects that further delineate the Internal Revenue Service's authority to impose penalties.
Fla. Panel Advances Stricter Caps On Assessment Increases
Florida's House tax-writing committee advanced a constitutional amendment Tuesday that would ask voters to place tighter limits on property assessment increases used to calculate nonschool property taxes.
Trump's Greenland Tariff Threats Could Backfire On US
The brief turmoil over President Donald Trump's sweeping tariff threats involving Greenland has abated for Europe and the global financial markets, but European governments may be more likely to retaliate with their own tariffs on the U.S. in the future, experts said.
Justices' FCC Review Could Reshape IRS Penalty Disputes
The U.S. Supreme Court's upcoming review of a pair of cases questioning the validity of the Federal Communications Commission's penalty authority could have ripple effects that further delineate the Internal Revenue Service's authority to impose penalties.
Federal More
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The Treasury Inspector General for Tax Administration raised concerns over the IRS' readiness for the tax filing season Tuesday ahead of Senate votes that would reduce funding, saying that staffing levels coul... (more story)
A group of Wisconsin homeowners is asking the Seventh Circuit to revive its claims that local political jurisdictions of the Menominee Indian Tribe joined forces to increase the homeowners' tax burden, arguing... (more story)
President Donald Trump's threat of a tariff hike on South Korea for "not living up to" its trade deal with the U.S. had South Korea's two major parties warring Tuesday over the pact's approval process.
Pharmaceutical giant Perrigo overpaid $89.2 million in taxes, penalties and interest during years 2009 through 2012, a Michigan court found in a final judgment issued Tuesday.
A Baltimore attorney found personally responsible for paying a client's unpaid taxes owes only part of the debt, a federal magistrate judge said, finding the attorney owed $1.9 million rather than the $3.3 mil... (more story)
A fractional aircraft ownership company is liable for federal excise taxes, the U.S. Department of Justice told the Sixth Circuit, arguing that the company failed to establish any statutory or equitable defens... (more story)
State & Local More
Md. Bill Would Let Counties Split Up Land, Building Tax Rates
Maryland counties could establish separate real property subclasses for land and improvements, with different tax rates, under legislation heard by a state House of Delegates panel Tuesday and opposed by busin... (more story)
Mass. Gov.'s Bill Seeks Corp. Tax Conformity, But In '26, '27
Massachusetts would delay until 2026, or later, conformity with corporate tax provisions in last year's federal budget bill signed in July under legislation sponsored by Gov. Maura Healey that she said will pr... (more story)
That Fellow Behind The Tree: SALT In Review
From an annual report on businesses' share of the tax load to calls for taxes on millionaires in Washington state and Rhode Island, RSM's David Brunori offers his thoughts on noteworthy state and local tax news.
Taxation With Representation: Vinge, A&O Shearman, Cassels
In this week's Taxation With Representation, Swedish private equity company EQT buys U.K. secondaries firm Coller Capital, biopharmaceutical giant GSK PLC acquires Rapt Therapeutics Inc., and fusion energy com... (more story)
Senate To Take Up Spending Bills With $11.2B IRS Funding
The U.S. Senate is poised to take up bills next week that would provide the IRS with an $11.2 billion budget — a 9% annual cut — and cut $11.7 billion from the IRS spending boost included in the Inflation Reduction Act.
NC Court Backs Asphalt Co. In $2.6M Tax Dispute
A North Carolina asphalt company's transfers of property to its parent company aren't taxable sales because the state Department of Revenue failed to prove there was any form of payment for the products, the s... (more story)
Key False Claims Act Trends From The Last Year
The False Claims Act remains a powerful enforcement tool after some record verdicts and settlements in 2025, and while traditional fraud areas remain a priority, new initiatives are raising questions about its... (more story)
Maryland counties could establish separate real property subclasses for land and improvements, with different tax rates, under legislation heard by a state House of Delegates panel Tuesday and opposed by busin... (more story)
Massachusetts would delay until 2026, or later, conformity with corporate tax provisions in last year's federal budget bill signed in July under legislation sponsored by Gov. Maura Healey that she said will pr... (more story)
From an annual report on businesses' share of the tax load to calls for taxes on millionaires in Washington state and Rhode Island, RSM's David Brunori offers his thoughts on noteworthy state and local tax news.
In this week's Taxation With Representation, Swedish private equity company EQT buys U.K. secondaries firm Coller Capital, biopharmaceutical giant GSK PLC acquires Rapt Therapeutics Inc., and fusion energy com... (more story)
The U.S. Senate is poised to take up bills next week that would provide the IRS with an $11.2 billion budget — a 9% annual cut — and cut $11.7 billion from the IRS spending boost included in the Inflation Reduction Act.
A North Carolina asphalt company's transfers of property to its parent company aren't taxable sales because the state Department of Revenue failed to prove there was any form of payment for the products, the s... (more story)
The False Claims Act remains a powerful enforcement tool after some record verdicts and settlements in 2025, and while traditional fraud areas remain a priority, new initiatives are raising questions about its... (more story)
International More
EU, India Reach Major Free Trade Agreement
The European Union and India have struck a deal on a free trade agreement including major tariff removals and reductions, culminating decades' worth of negotiations between the second- and fourth-largest econo... (more story)
Canada Says China Tariff Agreement Isn't Free Trade Deal
Canadian Prime Minister Mark Carney and the country's foreign affairs minister downplayed the country's recent tariff deescalation with China, indicating Canada will not pursue a free trade agreement with Chin... (more story)
Cineplex Gets $19M Tax Deduction After AMC Exits Canada
Canadian movie theater chain Cineplex can claim a CA$26.5 million ($19.4 million) deduction for two theaters that U.S.-based AMC closed before selling its remaining assets to Cineplex and leaving the country, ... (more story)
EU To Suspend US Tariff Countermeasures Another 6 Months
The European Union will suspend tariff countermeasures covering more than €93 billion ($110 billion) of U.S. goods another six months after President Donald Trump backed down from tariff threats this week in r... (more story)
UN Committee Releases Revised Tax Convention Template
The United Nations released an updated template for the framework convention on international tax cooperation with more descriptive wording on allocating taxing rights, a new article on exchange of information... (more story)
Cost Of Tax Breaks On Pension Contributions Nears £60B
The cost to the U.K. government of providing tax breaks on pensions savings is set to rise to nearly £60 billion ($81.2 billion) next year, according to official figures.
UK Trading Co. Escapes £1.5M In Penalties For Tax Scheme
HM Revenue & Customs lacked sufficient evidence to justify more than £1.5 million ($2 million) in penalties on a securities trading company for careless and deliberate inaccuracies on its returns linked to a t... (more story)
The European Union and India have struck a deal on a free trade agreement including major tariff removals and reductions, culminating decades' worth of negotiations between the second- and fourth-largest econo... (more story)
Canadian Prime Minister Mark Carney and the country's foreign affairs minister downplayed the country's recent tariff deescalation with China, indicating Canada will not pursue a free trade agreement with Chin... (more story)
Canadian movie theater chain Cineplex can claim a CA$26.5 million ($19.4 million) deduction for two theaters that U.S.-based AMC closed before selling its remaining assets to Cineplex and leaving the country, ... (more story)
The European Union will suspend tariff countermeasures covering more than €93 billion ($110 billion) of U.S. goods another six months after President Donald Trump backed down from tariff threats this week in r... (more story)
The United Nations released an updated template for the framework convention on international tax cooperation with more descriptive wording on allocating taxing rights, a new article on exchange of information... (more story)
The cost to the U.K. government of providing tax breaks on pensions savings is set to rise to nearly £60 billion ($81.2 billion) next year, according to official figures.
HM Revenue & Customs lacked sufficient evidence to justify more than £1.5 million ($2 million) in penalties on a securities trading company for careless and deliberate inaccuracies on its returns linked to a t... (more story)