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NY Internet Activity Rule Not Barred By Fed. Law, Panel Says
A New York rule that outlines when out-of-state businesses' online activities exceed federal protections against state income taxes isn't preempted by federal law, a state appeals court ruled Thursday, saying the federal statute's goal of shielding certain interstate businesses from tax isn't impeded by the regulation.
Trump's Temporary Global Tariffs Illegal, Trade Court Rules
President Donald Trump's temporary global 10% tariffs are unlawful because the narrow set of economic conditions required for the measure to be imposed were not met, the U.S. Court of International Trade said Thursday in a divided opinion.
Securities Co. Asks NY Court To Source Receipts To Investors
A securities company asked a New York state appeals court to reverse a tribunal decision that said its receipts must be sourced to the locations of institutional intermediaries, such as investment advisers, rather than where underlying investors were located.
NY Internet Activity Rule Not Barred By Fed. Law, Panel Says
A New York rule that outlines when out-of-state businesses' online activities exceed federal protections against state income taxes isn't preempted by federal law, a state appeals court ruled Thursday, saying the federal statute's goal of shielding certain interstate businesses from tax isn't impeded by the regulation.
Trump's Temporary Global Tariffs Illegal, Trade Court Rules
President Donald Trump's temporary global 10% tariffs are unlawful because the narrow set of economic conditions required for the measure to be imposed were not met, the U.S. Court of International Trade said Thursday in a divided opinion.
Federal More
The IRS should issue more guidance on what kind of debt arrangements can limit a development project's access to clean energy tax credits under new prohibited foreign entity requirements as uncertainty over fi... (more story)
Despite the U.S. Securities and Exchange Commission's pullback on crypto, cybersecurity and recordkeeping cases, accounting fraud remains a core enforcement priority, making it important for public companies a... (more story)
The U.S. and Romania recently completed negotiations on their double-tax treaty and are conducting reviews of the changes, an official with the U.S. Department of the Treasury said Friday.
The Third Circuit has declined to reconsider upholding the conviction of a man who raked in $40 million from filing false tax returns.
Federal prosecutors are claiming that SCOTUSBlog founder Thomas Goldstein may have violated his pretrial release conditions when he racked up over $1.7 million in gambling income last year, telling a federal j... (more story)
In this week's Taxation With Representation, gold companies Regis Resources and Vault Minerals combine, Long Lake Management acquires American Express Global Business Travel, and Vodafone buys out CK Hutchison... (more story)
The top official for the U.S. Department of Labor's employee benefits subagency said at a trade association conference Friday that agency investigations will focus on benefit plan managers' loyalty conflicts, ... (more story)
State & Local More
Hochul Says Budget Deal Will Include NYC 2nd-Home Tax
New York Gov. Kathy Hochul said Thursday that she reached a budget compromise with lawmakers that includes a tax on high-value second homes in New York City and a tax break for tip income, but the state Assemb... (more story)
Stinson Real Estate Finance Atty Joins Reed Smith In DC
Reed Smith LLP has hired a Stinson LLP lawyer who focuses her practice on real estate finance matters, renewable energy tax credit and new market tax credit issues, the firm has announced.
Speed Jigsaw Puzzling Makes Me A Better Lawyer
My passion for speed puzzling — I can complete a 500-piece jigsaw puzzle in under 50 minutes — has sharpened my legal skills in more ways than one, with both disciplines requiring patience, precision and the a... (more story)
JetBlue Asks Appeals Court To Find Fla. Tax Unconstitutional
JetBlue asked a Florida state appeals court to rule that the state's method of taxing airline income unconstitutionally counts miles flown outside Florida's borders, arguing that a trial court misapplied a tes... (more story)
Texas Worker Can't Be Taxed As Unitary Biz, Calif. Panel Rules
A Texas-based radiologist who worked remotely as an independent contractor for a California company was a sole proprietor engaged in a single business activity and cannot be taxed as a unitary business, a stat... (more story)
Wis. Village Urges 7th Circ. To Void Oneida Tribal Trust Order
A Wisconsin village is asking the Seventh Circuit to undo a U.S. Department of the Interior decision to place 500 acres of properties into trust for the Oneida Nation, arguing that a district court ignored evi... (more story)
Fla. Cites Petty Defense Of Social Media Law, Groups Say
Tech groups urged a Florida federal court to deny an attempt to end a lawsuit challenging a state law that punishes social media websites for banning accounts of political candidates' based on viewpoint, calli... (more story)
New York Gov. Kathy Hochul said Thursday that she reached a budget compromise with lawmakers that includes a tax on high-value second homes in New York City and a tax break for tip income, but the state Assemb... (more story)
Reed Smith LLP has hired a Stinson LLP lawyer who focuses her practice on real estate finance matters, renewable energy tax credit and new market tax credit issues, the firm has announced.
My passion for speed puzzling — I can complete a 500-piece jigsaw puzzle in under 50 minutes — has sharpened my legal skills in more ways than one, with both disciplines requiring patience, precision and the a... (more story)
JetBlue asked a Florida state appeals court to rule that the state's method of taxing airline income unconstitutionally counts miles flown outside Florida's borders, arguing that a trial court misapplied a tes... (more story)
A Texas-based radiologist who worked remotely as an independent contractor for a California company was a sole proprietor engaged in a single business activity and cannot be taxed as a unitary business, a stat... (more story)
A Wisconsin village is asking the Seventh Circuit to undo a U.S. Department of the Interior decision to place 500 acres of properties into trust for the Oneida Nation, arguing that a district court ignored evi... (more story)
Tech groups urged a Florida federal court to deny an attempt to end a lawsuit challenging a state law that punishes social media websites for banning accounts of political candidates' based on viewpoint, calli... (more story)
International More
Liberty Global Easy Case For 10th Circ., IRS Atty Says
The Internal Revenue Service's recent win against telecommunications giant Liberty Global, whose complex transactions were held to be a tax shelter lacking economic substance, was an "easy affirmance" for the ... (more story)
Wyden Probes Wall Street Firms For Tariff Refund Stakes' Info
The top Democratic lawmakers on the Senate Finance Committee sent letters to major Wall Street firms Thursday about their activity in buying the rights to importers' tariff refund interests at a discount follo... (more story)
Italian Man Arrested Amid Probe Into Large-Scale VAT Fraud
Italian authorities have arrested a businessman suspected of laundering the proceeds of a multimillion-euro value-added tax fraud, the European Public Prosecutor's Office said.
Documenting Business Purpose After IRS' 10th Circ. Win
Following the Tenth Circuit’s recent Liberty Global v. U.S. decision, which held the economic substance doctrine does not require a threshold relevancy determination, taxpayers can prepare for potential audit... (more story)
IRS Gets Protest Of Wedding Gift Penalties Narrowed
A Chinese citizen seeking a refund of penalties imposed by the IRS over a failure to report wedding gifts she received from abroad cannot argue the agency must collect the penalties through a civil action, a C... (more story)
Tax Reform Crucial To EU-Ukraine Loan Talks, Official Says
A European Union official said Tuesday that tax reform is an important part of negotiations with Ukraine over unlocking a portion of a €90 billion ($105.3 billion) financial assistance loan for the country.
US Ends $15M Tax Refund Fight With Gas Biz Partners
The U.S. government agreed to end litigation alleging that several Texas residents had erroneously claimed a total of about $15 million in tax refunds tied to a partnership involving gas and oil operations in ... (more story)
The Internal Revenue Service's recent win against telecommunications giant Liberty Global, whose complex transactions were held to be a tax shelter lacking economic substance, was an "easy affirmance" for the ... (more story)
The top Democratic lawmakers on the Senate Finance Committee sent letters to major Wall Street firms Thursday about their activity in buying the rights to importers' tariff refund interests at a discount follo... (more story)
Italian authorities have arrested a businessman suspected of laundering the proceeds of a multimillion-euro value-added tax fraud, the European Public Prosecutor's Office said.
Following the Tenth Circuit’s recent Liberty Global v. U.S. decision, which held the economic substance doctrine does not require a threshold relevancy determination, taxpayers can prepare for potential audit... (more story)
A Chinese citizen seeking a refund of penalties imposed by the IRS over a failure to report wedding gifts she received from abroad cannot argue the agency must collect the penalties through a civil action, a C... (more story)
A European Union official said Tuesday that tax reform is an important part of negotiations with Ukraine over unlocking a portion of a €90 billion ($105.3 billion) financial assistance loan for the country.
The U.S. government agreed to end litigation alleging that several Texas residents had erroneously claimed a total of about $15 million in tax refunds tied to a partnership involving gas and oil operations in ... (more story)