/tax?utm_source=rss&utm_medium=rss&utm_campaign=section Latest articles for: Tax Copyright 2025 ÃÛÌÒÊÓƵ. en-US Tue, 08 Jul 2025 21:54:42 +0000 /tax/articles/2362488?utm_source=rss&utm_medium=rss&utm_campaign=section /tax/articles/2362488 President Donald Trump announced Tuesday that he will impose a new 50% tariff on copper imported into the U.S., while also raising the possibility of imposing a 200% tariff on pharmaceuticals. Tue, 08 Jul 2025 19:59:11 +0000 /tax/articles/2362251?utm_source=rss&utm_medium=rss&utm_campaign=section /tax/articles/2362251 Challenges to President Donald Trump's global tariffs have brought renewed attention to the U.S. Supreme Court's major questions doctrine, including observations that lower courts have so far inconsistently applied this approach when scrutinizing a range of agency actions. Tue, 08 Jul 2025 19:59:02 +0000 /tax/articles/2362316?utm_source=rss&utm_medium=rss&utm_campaign=section /tax/articles/2362316 Kansas lawmakers have approved a one-year extension of the state's Sales Tax and Revenue bonds while the Missouri-based Kansas City Chiefs and Kansas City Royals continue talks with officials about migrating to Kansas. Tue, 08 Jul 2025 19:17:44 +0000 /tax/articles/2361852?utm_source=rss&utm_medium=rss&utm_campaign=section /tax/articles/2361852 An Illinois federal court has certified a class of Cook County residents who were stripped of excess equity when their residential properties were sold to recoup property taxes, overriding county objections that homeowners should have to litigate cases individually. Tue, 08 Jul 2025 18:41:38 +0000 /tax/articles/2362413?utm_source=rss&utm_medium=rss&utm_campaign=section /tax/articles/2362413 A settlement offer the Internal Revenue Service said it mistakenly made to a partnership after rejecting its $57 million conservation easement deduction is not binding, the U.S. Tax Court said Tuesday, declining the partnership's request to enforce the deal. Tue, 08 Jul 2025 17:47:17 +0000 /tax/articles/2362317?utm_source=rss&utm_medium=rss&utm_campaign=section /tax/articles/2362317 Federal drug enforcers urged the D.C. Circuit on Tuesday to toss a petition brought by an Iowa church seeking a religious exemption to use a psychedelic in its rites, saying there was no legal basis to the organization's allegations that the agency took too long to process its application. Tue, 08 Jul 2025 17:32:49 +0000 /tax/articles/2360993?utm_source=rss&utm_medium=rss&utm_campaign=section /tax/articles/2360993 Recent amendments to Nevada corporate law, which will narrow controlling stockholders’ liability, streamline mergers and allow companies to opt out of jury trials, show the interstate competition to attract new and reincorporating companies is still heating up, say attorneys at Simpson Thacher. Tue, 08 Jul 2025 17:22:08 +0000 /tax/articles/2362232?utm_source=rss&utm_medium=rss&utm_campaign=section /tax/articles/2362232 The Eleventh Circuit upheld a Georgia woman's tax fraud conviction and four-year-plus prison sentence, rejecting her claims that the judge overseeing her case was biased, that her lawyer was ineffective and that a hearing should have been held on whether she was competent to stand trial. Tue, 08 Jul 2025 16:31:41 +0000 /tax/articles/2362237?utm_source=rss&utm_medium=rss&utm_campaign=section /tax/articles/2362237 Four Michigan companies reached settlements worth a combined $1.9 million with the federal government to resolve claims they violated the False Claims Act by making false statements to get Paycheck Protection Program loans during the COVID-19 pandemic. Tue, 08 Jul 2025 15:55:17 +0000 /tax/articles/2352355?utm_source=rss&utm_medium=rss&utm_campaign=section /tax/articles/2352355 The U.S. Supreme Court on Tuesday ruled the Trump administration can move forward with its plans for large-scale layoffs and reorganizations at various federal departments and agencies, lifting a California federal judge's order that had paused the efforts while a legal challenge continues. Tue, 08 Jul 2025 15:54:20 +0000 /tax/articles/2360192?utm_source=rss&utm_medium=rss&utm_campaign=section /tax/articles/2360192 The American Bar Association's recent ethics opinion clarifies when attorneys may terminate clients without good cause, though courts may still disqualify a lawyer who drops a client like a hot potato, so sending a closeout letter is always a best practice, say attorneys at Thompson Hine. Tue, 08 Jul 2025 14:41:00 +0000 /tax/articles/2362050?utm_source=rss&utm_medium=rss&utm_campaign=section /tax/articles/2362050 Churches can endorse political candidates without losing their tax-exempt status despite a ban on political activity by certain nonprofits, the IRS said in a Texas federal court document seeking to settle a suit by religious groups that claimed the prohibition on campaigning was unconstitutional. Tue, 08 Jul 2025 14:17:55 +0000 /tax/articles/2358601?utm_source=rss&utm_medium=rss&utm_campaign=section /tax/articles/2358601 The rapid overhaul of federal procurement, heightened domestic sourcing rules and aggressive immigration enforcement are reshaping U.S. construction, but several pragmatic considerations can help federal contractors engaged in infrastructure and public construction avoid the legal, financial and operational fallout, say attorneys at Cozen O'Connor. Tue, 08 Jul 2025 11:45:41 +0000 /tax/articles/2362032?utm_source=rss&utm_medium=rss&utm_campaign=section /tax/articles/2362032 The Council of the European Union gave its final approval Tuesday for Bulgaria to transition to using the euro next year, with the bloc saying the change will give Bulgarians "real, everyday benefits" like easier cross-border payments and greater access to foreign investment. Mon, 07 Jul 2025 21:27:37 +0000 /tax/articles/2361887?utm_source=rss&utm_medium=rss&utm_campaign=section /tax/articles/2361887 President Donald Trump ordered the U.S. Treasury Department on Monday to begin carrying out cuts and restrictions to the solar and wind production and investment tax credits that were mandated in the budget bill Trump signed Friday. Mon, 07 Jul 2025 21:18:30 +0000 /tax/articles/2361172?utm_source=rss&utm_medium=rss&utm_campaign=section /tax/articles/2361172 State and federal courts have handed down rulings in Illinois cases so far this year that have clarified standing for data breach actions in the state's courts, affirmed coverage for attorney fees and costs paid as part of a settlement, and deemed insufficient a jury instruction frequently given in Illinois personal injury cases. Here's a breakdown of some of the biggest decisions courts have handed down in Illinois cases so far in 2025. Mon, 07 Jul 2025 18:17:58 +0000 /tax/articles/2361807?utm_source=rss&utm_medium=rss&utm_campaign=section /tax/articles/2361807 A former manager of an essential oils company was sentenced to nearly six years in federal prison Monday for his role in an embezzlement scheme that stripped his employer of more than $29 million and awarded him millions in kickbacks he hid from the IRS, according to the U.S. Department of Justice. Mon, 07 Jul 2025 16:53:15 +0000 /tax/articles/2361543?utm_source=rss&utm_medium=rss&utm_campaign=section /tax/articles/2361543 Goods entering the U.S. from numerous countries will face tariff hikes beginning Aug. 1 unless their governments commit to address trade concerns the U.S. has raised, according to letters President Donald Trump sent Monday. Mon, 07 Jul 2025 16:05:26 +0000 /tax/articles/2357698?utm_source=rss&utm_medium=rss&utm_campaign=section /tax/articles/2357698 With the recent and continually evolving tariffs announced by the Trump administration, John Ryan at King & Spalding takes a detailed look at whether those new tariffs can be added back in calculating earnings before interest, taxes, depreciation and amortization — an important question that may greatly affect a company's compliance with its financial covenants. Mon, 07 Jul 2025 14:56:16 +0000 /tax/articles/2361680?utm_source=rss&utm_medium=rss&utm_campaign=section /tax/articles/2361680 Maine authorized the creation of a task force to explore the need for legislation and constitutional amendments to provide more effective property tax relief for residents under a bill signed by the governor.