Congress Hitting Back After Int'l Tax Talks, US Official Says
The House Ways and Means Committee's tax bill includes retaliatory measures against certain foreign taxes because lawmakers were dissatisfied with international administrative guidance that thought felt undermined their tax sovereignty, a U.S. Treasury Department official said Friday.
House Panel Fails To Pass Budget With $3.8T Tax Overhaul
The House Budget Committee failed Friday to advance the chamber's budget bill, which includes Republicans' $3.8 trillion tax package, prompting the committee to schedule another vote Sunday to reconsider the bill.
La. Tax Dept. Looks At Taking On Remote Seller Audits
The Louisiana Department of Revenue is interested in assuming audit responsibilities from the state's remote sellers commission, an official suggested Thursday, saying the department's more robust staffing may make it better positioned to enforce sales tax compliance from out-of-state businesses.
Congress Hitting Back After Int'l Tax Talks, US Official Says
The House Ways and Means Committee's tax bill includes retaliatory measures against certain foreign taxes because lawmakers were dissatisfied with international administrative guidance that thought felt undermined their tax sovereignty, a U.S. Treasury Department official said Friday.
House Panel Fails To Pass Budget With $3.8T Tax Overhaul
The House Budget Committee failed Friday to advance the chamber's budget bill, which includes Republicans' $3.8 trillion tax package, prompting the committee to schedule another vote Sunday to reconsider the bill.
La. Tax Dept. Looks At Taking On Remote Seller Audits
The Louisiana Department of Revenue is interested in assuming audit responsibilities from the state's remote sellers commission, an official suggested Thursday, saying the department's more robust staffing may make it better positioned to enforce sales tax compliance from out-of-state businesses.
Federal More
President Donald Trump asked the U.S. Supreme Court on Friday to pause a California federal judge's order temporarily halting agencies from implementing an executive order to plan reorganizations and reduction... (more story)
A company seeking $268 million in excise tax exemptions for its refurbished tractors asked the Sixth Circuit to reconsider its decision that the tractors might not qualify because they may have previously been... (more story)
The IRS can move forward in collecting a decades-old tax debt from a former attorney despite his claim that a judge in an underlying proceeding lacked authority because his term had expired before the proceedi... (more story)
In this week's Taxation With Representation, Charter Communications Inc. merges with Cox Communications, Hub International Ltd. boosts its valuation after securing an investment, Pan American Silver Corp. acqu... (more story)
A new partner has joined Holland & Knight LLP's Philadelphia office and will help lead its state and local tax team, the firm announced.
A recent settlement of claims against law firm Eckert Seamans for allegedly abetting a Ponzi scheme underscores the continuing threat of clients who seek to exploit their lawyers in perpetrating fraud, and the... (more story)
A Georgia attorney has been sentenced to 16 months in federal prison and slammed with an $8 million bill after pleading guilty to helping orchestrate a $1.3 billion tax scheme involving fraudulent conservation easements.
State & Local More
Skechers Must Foot $155K Tax Bill, Mass. Board Says
Skechers' income must be apportioned to Massachusetts under the state's rule for manufacturers, a Massachusetts tax board ruled in an opinion released Friday, upholding a $155,000 tax assessment, plus penaltie... (more story)
Conservatives Challenge Title Of Colo. Tax Cut Initiative
A proposed Colorado ballot measure to reduce the state income tax rate by one-hundredth of a percentage point was assigned an unlawfully confusing title by a state board, the conservative activists behind the ... (more story)
Pa. House Advances Energy Tax Credits
Pennsylvania would update an economic development tax credit program to offer incentives to electric-generating and hydrogen facilities, among other energy projects, under a bill passed by the state's House.
House Plans Vote On Budget Bill With Tax Package Next Week
Republican leaders in the House plan to hold a vote next week on the chamber's budget bill that includes the GOP's $3.8 trillion tax package, with the aim of sending the legislation to the Senate before Memori... (more story)
Minn. Justices Affirm $9M Medical Building Tax Valuation
A Minnesota medical building was correctly valued by the state tax court, the state Supreme Court said Wednesday, affirming a decision that boosted the building's original valuation by more than $1 million.
Hawaii Justices Won't Review Honolulu Property Class Case
The Hawaii Supreme Court declined to review an appellate court decision that found a special Honolulu property class did not violate the state and country's equal protection clause.
Wisconsin Lake Homeowners Amend Tribal Tax Burden Suit
Four lake homeowners and an association have amended a suit against local governments in the Menominee reservation in northern Wisconsin, claiming the tribe has sought to grow the amount of tax-exempt land whi... (more story)
Newsom Blames 'Trump Slump' As Calif. Faces $12B Shortfall
California's fiscal situation has changed for the worse since January, Gov. Gavin Newsom said Wednesday, putting the blame on what he said was a "Trump slump" that has resulted in lower capital gains tax collections.
Evolving Federal Rules Pose Further Obstacles To NY LLC Act
Following the Financial Crimes Enforcement Network's recent changes to beneficial ownership information reporting under the federal Corporate Transparency Act — dramatically reducing the number of companies re... (more story)
Skechers' income must be apportioned to Massachusetts under the state's rule for manufacturers, a Massachusetts tax board ruled in an opinion released Friday, upholding a $155,000 tax assessment, plus penaltie... (more story)
A proposed Colorado ballot measure to reduce the state income tax rate by one-hundredth of a percentage point was assigned an unlawfully confusing title by a state board, the conservative activists behind the ... (more story)
Pennsylvania would update an economic development tax credit program to offer incentives to electric-generating and hydrogen facilities, among other energy projects, under a bill passed by the state's House.
Republican leaders in the House plan to hold a vote next week on the chamber's budget bill that includes the GOP's $3.8 trillion tax package, with the aim of sending the legislation to the Senate before Memori... (more story)
A Minnesota medical building was correctly valued by the state tax court, the state Supreme Court said Wednesday, affirming a decision that boosted the building's original valuation by more than $1 million.
The Hawaii Supreme Court declined to review an appellate court decision that found a special Honolulu property class did not violate the state and country's equal protection clause.
Four lake homeowners and an association have amended a suit against local governments in the Menominee reservation in northern Wisconsin, claiming the tribe has sought to grow the amount of tax-exempt land whi... (more story)
California's fiscal situation has changed for the worse since January, Gov. Gavin Newsom said Wednesday, putting the blame on what he said was a "Trump slump" that has resulted in lower capital gains tax collections.
Following the Financial Crimes Enforcement Network's recent changes to beneficial ownership information reporting under the federal Corporate Transparency Act — dramatically reducing the number of companies re... (more story)
International More
Refocus Global Tax Policy On Bilateral Treaties, Attys Say
Global tax policymakers at the OECD and United Nations should return to their original focus of advancing bilateral tax treaties among the countries they cater toward, attorneys said Friday.
Work Agency Loses VAT Deregistration Appeal Over Tax Fraud
An agency worker supply company has lost its latest bid to challenge a decision by the U.K. tax authority to cancel its VAT registration over its alleged links to a tax fraud scheme, as a London appeals court ... (more story)
Pillar Two Costs May Outweigh Revenue, Tax Exec Says
The administrative requirements for complying with an international minimum tax agreement known as Pillar Two could end up costing companies more than any taxes they pay under the global regime, a Microsoft ta... (more story)
HMRC Fights To Keep £261M In Overseas Dividends Tax Battle
The British High Court was wrong to find BAT Industries PLC could have discovered that its tax payments on foreign dividends were made by mistake, HM Revenue & Customs told an appeals court Thursday, urging it... (more story)
Texan Says IRS' $1M FBAR Penalty Unconstitutional
A Texan urged a federal court to dismiss the U.S. government's suit seeking to collect $1 million in penalties for unreported offshore bank accounts, arguing that the IRS' penalty assessment violated her const... (more story)
Ex-Solicitor Hit With 1st Individual Tax Avoidance Stop Notice
HM Revenue & Customs has ordered a struck-off solicitor to stop promoting two tax avoidance schemes, the first notice of its kind issued against an individual, the tax authority said Thursday.
Eversheds Sutherland Rehires Tax Expert From DLA Piper
Eversheds Sutherland is welcoming back a tax expert in the U.K. who spent the last seven years at DLA Piper, the firm announced.
Global tax policymakers at the OECD and United Nations should return to their original focus of advancing bilateral tax treaties among the countries they cater toward, attorneys said Friday.
An agency worker supply company has lost its latest bid to challenge a decision by the U.K. tax authority to cancel its VAT registration over its alleged links to a tax fraud scheme, as a London appeals court ... (more story)
The administrative requirements for complying with an international minimum tax agreement known as Pillar Two could end up costing companies more than any taxes they pay under the global regime, a Microsoft ta... (more story)
The British High Court was wrong to find BAT Industries PLC could have discovered that its tax payments on foreign dividends were made by mistake, HM Revenue & Customs told an appeals court Thursday, urging it... (more story)
A Texan urged a federal court to dismiss the U.S. government's suit seeking to collect $1 million in penalties for unreported offshore bank accounts, arguing that the IRS' penalty assessment violated her const... (more story)
HM Revenue & Customs has ordered a struck-off solicitor to stop promoting two tax avoidance schemes, the first notice of its kind issued against an individual, the tax authority said Thursday.
Eversheds Sutherland is welcoming back a tax expert in the U.K. who spent the last seven years at DLA Piper, the firm announced.