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Tax Pact Group To Pitch Fresh Remote Seller Amnesty Plan
A Streamlined Sales Tax Governing Board work group is nearing completion of a revised proposal that would allow unregistered remote sellers to limit their back sales tax liabilities, a board director said Thursday.
Meta Must Share Option Costs Post-Altera, IRS Says
The Ninth Circuit's 2019 ruling against Altera Corp., which upheld rules requiring companies to share the cost of employee stock options with foreign affiliates, means that Meta's income for 2017-18 should be increased by roughly $3 billion, the IRS told the U.S. Tax Court.
Pact Board OKs Tax Guidance For Delivery Cos., Code Sales
The Streamlined Sales Tax Governing Board approved a host of additions to the state tax simplification compact it oversees Wednesday, including guidance on tax rules for delivery network companies and codes that are redeemed for products or services.
Tax Pact Group To Pitch Fresh Remote Seller Amnesty Plan
A Streamlined Sales Tax Governing Board work group is nearing completion of a revised proposal that would allow unregistered remote sellers to limit their back sales tax liabilities, a board director said Thursday.
Meta Must Share Option Costs Post-Altera, IRS Says
The Ninth Circuit's 2019 ruling against Altera Corp., which upheld rules requiring companies to share the cost of employee stock options with foreign affiliates, means that Meta's income for 2017-18 should be increased by roughly $3 billion, the IRS told the U.S. Tax Court.
Pact Board OKs Tax Guidance For Delivery Cos., Code Sales
The Streamlined Sales Tax Governing Board approved a host of additions to the state tax simplification compact it oversees Wednesday, including guidance on tax rules for delivery network companies and codes that are redeemed for products or services.
Federal More
Imported parts used in manufacturing various trucks are treated like automobile parts in guidelines that the U.S. International Trade Administration issued Thursday for U.S. manufacturers of medium- and heavy-... (more story)
The U.S. government urged the Sixth Circuit to reverse a Tennessee federal court's decision that invalidated foreign tax credit regulations and allowed FedEx an $89 million refund, arguing that the rules refle... (more story)
The U.S. plans to propose its entire package of rules on the corporate alternative minimum tax — which has so far been the subject of five Internal Revenue Service notices — in February, an official from the U... (more story)
An Ohio man told a district court that the Internal Revenue Service wrongly denied his tax deduction claim for a loss of over $800,000 from a cryptocurrency "pig butchering" scheme despite the extensive docume... (more story)
The Office of the U.S. Trade Representative on Thursday said it is seeking comments on tariff recommendations made in April by the U.S. International Trade Commission regarding imported quartz surfaces.
A bipartisan group of federal lawmakers on Wednesday introduced a bill that would allow workers to make tax-free charitable donations directly from their employer-sponsored retirement plans, building on a sect... (more story)
A man who missed the deadline for challenging his tax bill in the U.S. Tax Court urged the Fourth Circuit to revive his suit, saying the statutory cutoff for filing petitions does not have to be strictly follo... (more story)
State & Local More
Colorado Lawmakers OK Bill To Narrow Software Tax Break
Colorado would narrow its sales tax exemption for downloadable software, allowing the break only for software customized for the user or governed by a negotiated license agreement, under legislation passed by lawmakers.
Hologic Tells NH Justices It's One Org.; State Pushes Back
New Hampshire's revenue department and Hologic sparred before the state's justices over whether a capital loss carryback can offset capital gains in a combined group, even if the loss and gain are generated by... (more story)
Colo. Panel Kills Corp. Decoupling Bill Under Veto Threat
Colorado legislation to decouple the state from four of last year's federal corporate tax changes was stalled by a Senate panel at the request of the bill's sponsor, who suggested that Gov. Jared Polis said he... (more story)
Judge Won't Toss Boston Property Tax Retaliation Claims
Boston must face a proposed class action accusing the city of inflating the valuations of some properties after owners appealed their tax bills, a state court judge has ruled.
4 Emerging Approaches To AI Protective Order Language
Over the last year, at least five federal district courts have issued or analyzed specific protective order provisions restricting the use of generative artificial intelligence platforms with protected materia... (more story)
Ohio Bank's Tax Break On Data Processing Denied By Board
An Ohio bank is liable for sales tax on financial data processing services it purchased, a state board affirmed, applying the true object test to the transactions as directed by the state Supreme Court.
Minn. Justices Challenge County On Hilton Valuation Appeal
Minnesota's justices quizzed counsel for Hennepin County on Monday on whether its arguments for its preferred method for valuing a Hilton-branded Minneapolis hotel and convention center could be enough to over... (more story)
Colorado would narrow its sales tax exemption for downloadable software, allowing the break only for software customized for the user or governed by a negotiated license agreement, under legislation passed by lawmakers.
New Hampshire's revenue department and Hologic sparred before the state's justices over whether a capital loss carryback can offset capital gains in a combined group, even if the loss and gain are generated by... (more story)
Colorado legislation to decouple the state from four of last year's federal corporate tax changes was stalled by a Senate panel at the request of the bill's sponsor, who suggested that Gov. Jared Polis said he... (more story)
Boston must face a proposed class action accusing the city of inflating the valuations of some properties after owners appealed their tax bills, a state court judge has ruled.
Over the last year, at least five federal district courts have issued or analyzed specific protective order provisions restricting the use of generative artificial intelligence platforms with protected materia... (more story)
An Ohio bank is liable for sales tax on financial data processing services it purchased, a state board affirmed, applying the true object test to the transactions as directed by the state Supreme Court.
Minnesota's justices quizzed counsel for Hennepin County on Monday on whether its arguments for its preferred method for valuing a Hilton-branded Minneapolis hotel and convention center could be enough to over... (more story)
International More
UK Tribunal Partially Allows Claims For Tax Relief On Films
Several partnerships can claim tax relief on the equity-financed portions of their film productions but not debt-financed components designed to inflate their tax relief, a London court found, ordering HMRC to... (more story)
Barrister Loses Bid To Overturn £15K Fine Tied To Tax Row
A London court has maintained a £15,000 ($20,100) fine imposed on a barrister after he sent a barrage of emails accusing HMRC and a caseworker of colluding to sabotage his tax appeal, backing a disciplinary pa... (more story)
Ex-Deputy PM Rayner Says She's Cleared Of Tax Claims
Britain's tax authority has cleared former Deputy Prime Minister Angela Rayner of claims that she dodged taxes on an £800,000 ($1 million) property, according to an interview published Thursday, just as the La... (more story)
Highest Earners Hardest Hit By Pension Tax Change, IFS Says
The highest earners in the private sector will be hit the hardest by the U.K. government's decision to cap tax-free pension salary sacrifices at £2,000 ($2,700), the Institute for Fiscal Studies has said, with... (more story)
Trump 1st-Term Tariff Hikes On China Legal, Feds Tell Justices
President Donald Trump's first administration was well within its legal authority to increase tariffs on Chinese goods under a law utilized to address unfair trading practices, and the U.S. Supreme Court doesn... (more story)
Tax Court Won't Rethink Nix Of Russian Scientist's Exemption
The U.S. Tax Court won't rethink its decision that the U.S. Department of Energy's payments to a Russian scientist for his subatomic particle research in Virginia don't fall under a tax exemption for grants in... (more story)
Suspect Arrested In €18M Electronics VAT Fraud Scheme
European prosecutors said Wednesday that German authorities arrested one suspect and carried out a series of raids in an investigation into an alleged €18 million ($21 million) value-added tax carousel fraud i... (more story)
Several partnerships can claim tax relief on the equity-financed portions of their film productions but not debt-financed components designed to inflate their tax relief, a London court found, ordering HMRC to... (more story)
A London court has maintained a £15,000 ($20,100) fine imposed on a barrister after he sent a barrage of emails accusing HMRC and a caseworker of colluding to sabotage his tax appeal, backing a disciplinary pa... (more story)
Britain's tax authority has cleared former Deputy Prime Minister Angela Rayner of claims that she dodged taxes on an £800,000 ($1 million) property, according to an interview published Thursday, just as the La... (more story)
The highest earners in the private sector will be hit the hardest by the U.K. government's decision to cap tax-free pension salary sacrifices at £2,000 ($2,700), the Institute for Fiscal Studies has said, with... (more story)
President Donald Trump's first administration was well within its legal authority to increase tariffs on Chinese goods under a law utilized to address unfair trading practices, and the U.S. Supreme Court doesn... (more story)
The U.S. Tax Court won't rethink its decision that the U.S. Department of Energy's payments to a Russian scientist for his subatomic particle research in Virginia don't fall under a tax exemption for grants in... (more story)
European prosecutors said Wednesday that German authorities arrested one suspect and carried out a series of raids in an investigation into an alleged €18 million ($21 million) value-added tax carousel fraud i... (more story)