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HMRC Can Levy Exit Tax On Trust's £142M Gains, Court Rules
Britain's tax authority can collect an exit tax charged on over £142 million ($190 million) in gains from a real estate company and on over £330,000 in assets from a family trust, provided that the tax is paid in a five-year installment plan, a London court ruled.
Solar, Wind Credits Still Clouded After Safe Harbor Revived
Renewable energy advocates scored a victory when a D.C. federal judge reinstated a safe harbor construction rule for solar and wind projects to access green energy tax credits, but uncertainty persists over the real-world impact while the federal government weighs its next steps.
Justices Won't Review Trump's First-Term China Tariff Hikes
The U.S. Supreme Court refused Monday to review a case challenging tariffs that President Donald Trump installed and increased on Chinese goods during his first term.
Federal More
An Atlanta attorney was sentenced to more than one year in federal prison after evading almost $1.5 million in federal income taxes from 2016 through 2019, a Georgia federal court announced Monday.
The U.S. Supreme Court's recent holding that the International Emergency Economic Powers Act doesn't authorize the president to impose tariffs has sparked class actions, but determining whether a retailer rece... (more story)
President Donald Trump pushed back on a group of former federal judges' claim that the settlement closing his $10 billion suit against the IRS was a result of fraud against a Florida federal court, attacking t... (more story)
A company that provides payroll services to healthcare providers failed to prove it was entitled to injunctive relief that would bar the IRS from enforcing guidance on the employee retention tax credit, an Ohi... (more story)
A skeptical Second Circuit judge on Friday told a Connecticut attorney to stop saying his client was "affirmatively misled" while pleading guilty to tax evasion charges, hinting a written plea agreement and ve... (more story)
The global minimum tax known as Pillar Two had the paradoxical goal of increasing countries' taxing power by having them cede some of their authority to set corporate rates — and ultimately would have hurt bot... (more story)
The D.C. Circuit said Friday that the Internal Revenue Service must reconsider a whistleblower's claim that her information helped the agency collect taxes on more than $31 million in corporate income, reversi... (more story)
State & Local More
DC Court OKs $6M Tax Bill For Merger Property Transfer
The 2002 title transfer of a Washington, D.C., property resulting from the merger of a partnership and a limited liability company was subject to the district's real estate recordation and transfer taxes, an a... (more story)
High Court Won't Revisit Ga. Justices' Ruling On Runoff Fees
The U.S. Supreme Court refused Monday to take up property owners' challenge of a Georgia Supreme Court ruling that left them on the hook for stormwater utility bills by classifying the charges as fees rather t... (more story)
RI Enacts $15B Budget With Phased-In Millionaires Tax
Rhode Island will create a phased-in surcharge on income over $1 million and decouple the state from some federal budget provisions under a $15.2 billion budget plan signed by the state's governor Friday.
Fox Rothschild Hires Tax Atty From McDermott In DC
Fox Rothschild LLP has hired a former tax attorney from McDermott Will & Schulte LLP who is bringing his advisory practice focused on sophisticated tax planning and structuring matters to the Washington, D.C.,... (more story)
Pa. Gross Receipts Tax On Digital Ads Passed By House
Pennsylvania would expand its gross receipts tax to the receipts of companies providing digital advertising in the state under a bill passed by the state House of Representatives.
Ariz. Lawmakers OK Tax Package With Federal Conformity
Arizona would conform the state with most of the tax changes in last year's federal budget legislation, a move projected to save taxpayers $1.4 billion over four years, under bipartisan legislation approved by... (more story)
Taxation With Representation: Gibson Dunn, Davis Polk, S&C
In this week's Taxation With Representation, SpaceX prices a $75 billion initial public offering at its designated price range, Apollo Global Management leads a capital commitment for a Broadcom initiative to ... (more story)
The 2002 title transfer of a Washington, D.C., property resulting from the merger of a partnership and a limited liability company was subject to the district's real estate recordation and transfer taxes, an a... (more story)
The U.S. Supreme Court refused Monday to take up property owners' challenge of a Georgia Supreme Court ruling that left them on the hook for stormwater utility bills by classifying the charges as fees rather t... (more story)
Rhode Island will create a phased-in surcharge on income over $1 million and decouple the state from some federal budget provisions under a $15.2 billion budget plan signed by the state's governor Friday.
Fox Rothschild LLP has hired a former tax attorney from McDermott Will & Schulte LLP who is bringing his advisory practice focused on sophisticated tax planning and structuring matters to the Washington, D.C.,... (more story)
Pennsylvania would expand its gross receipts tax to the receipts of companies providing digital advertising in the state under a bill passed by the state House of Representatives.
Arizona would conform the state with most of the tax changes in last year's federal budget legislation, a move projected to save taxpayers $1.4 billion over four years, under bipartisan legislation approved by... (more story)
In this week's Taxation With Representation, SpaceX prices a $75 billion initial public offering at its designated price range, Apollo Global Management leads a capital commitment for a Broadcom initiative to ... (more story)
International More
Dutch Gov't Rejects National Parcel Handling Fee
The Dutch government rejected a request from lawmakers to introduce a national handling fee for parcels and will instead rely on measures at the European Union level.
Disqualified Director Jailed For £3M Fraud, Money Laundering
A company director has been sentenced to four years in prison for diverting more than £3 million ($4 million) through an insolvency fraud and money laundering scheme, the Insolvency Service said.
KC Says He Was Entitled To Cut Tax Bill In £2M Evasion Case
A senior barrister accused of cheating the public purse out of almost £2 million ($2.7 million) told a court on Monday that he was "morally entitled" to pursue a strategy to reduce his tax liability.
Biz Groups Back Liberty Global In $2.4B Tax Substance Fight
The Tenth Circuit should reconsider its decision denying telecommunications company Liberty Global a $2.4 billion income deduction, the U.S. Chamber of Commerce and other groups said, arguing the court excessi... (more story)
EU States Aim To Expand Carbon Border Tax Downstream
The European Union's council of ministers wants to expand the bloc's tax on emissions-intensive imports from raw materials to a selection of downstream products containing steel and aluminum while also closing... (more story)
Ride App Bolt Can't Cut £190M VAT Bill After All, Court Rules
Ride-hailing giant Bolt can't apply a value-added tax margin scheme to reduce an estimated liability of £190 million ($254.9 million) because its services aren't comparable to travel agency or tour operator se... (more story)
Italy VAT Amnesty Breaches EU Law, Court Adviser Says
Italy's simplified system to help companies resolve their value-added tax disputes by letting them pay only a fraction of their liabilities violates European Union requirements for bloc members to collect VAT ... (more story)
The Dutch government rejected a request from lawmakers to introduce a national handling fee for parcels and will instead rely on measures at the European Union level.
A company director has been sentenced to four years in prison for diverting more than £3 million ($4 million) through an insolvency fraud and money laundering scheme, the Insolvency Service said.
A senior barrister accused of cheating the public purse out of almost £2 million ($2.7 million) told a court on Monday that he was "morally entitled" to pursue a strategy to reduce his tax liability.
The Tenth Circuit should reconsider its decision denying telecommunications company Liberty Global a $2.4 billion income deduction, the U.S. Chamber of Commerce and other groups said, arguing the court excessi... (more story)
The European Union's council of ministers wants to expand the bloc's tax on emissions-intensive imports from raw materials to a selection of downstream products containing steel and aluminum while also closing... (more story)
Ride-hailing giant Bolt can't apply a value-added tax margin scheme to reduce an estimated liability of £190 million ($254.9 million) because its services aren't comparable to travel agency or tour operator se... (more story)
Italy's simplified system to help companies resolve their value-added tax disputes by letting them pay only a fraction of their liabilities violates European Union requirements for bloc members to collect VAT ... (more story)