Illinois' Pritzker Proposes Social Media Tax To Fund Education
Illinois Gov. JB Pritzker proposed Wednesday that the state levy a new tax on social media companies with at least 100,000 users in the state and direct the money raised to education as part of a $56 billion budget plan he unveiled for fiscal 2027.
Varian Contests $1.5B IRS Bill In Tax Court
Varian Medical Systems does not owe $1.24 billion in additional taxes or $248 million in penalties the IRS assessed after the agency recharacterized the company's sales of subsidiaries in the Netherlands and Switzerland, the company told the U.S. Tax Court.
No Fraud By IRS In FOIA Over $18M Tax Case, DC Circ. Says
The Internal Revenue Service did not commit fraud when it said records were missing amid Freedom of Information Act litigation related to an $18 million tax case, the D.C. Circuit said Tuesday, denying claims made by the estate of a man whose offshore businesses were raided.
Illinois' Pritzker Proposes Social Media Tax To Fund Education
Illinois Gov. JB Pritzker proposed Wednesday that the state levy a new tax on social media companies with at least 100,000 users in the state and direct the money raised to education as part of a $56 billion budget plan he unveiled for fiscal 2027.
Varian Contests $1.5B IRS Bill In Tax Court
Varian Medical Systems does not owe $1.24 billion in additional taxes or $248 million in penalties the IRS assessed after the agency recharacterized the company's sales of subsidiaries in the Netherlands and Switzerland, the company told the U.S. Tax Court.
No Fraud By IRS In FOIA Over $18M Tax Case, DC Circ. Says
The Internal Revenue Service did not commit fraud when it said records were missing amid Freedom of Information Act litigation related to an $18 million tax case, the D.C. Circuit said Tuesday, denying claims made by the estate of a man whose offshore businesses were raided.
Federal More
A woman facing more than $300,000 in tax bills because her return preparer committed fraud on her filings decades ago asked the U.S. Supreme Court to overturn the Third Circuit's finding that she is responsibl... (more story)
The jury in SCOTUSblog founder Thomas Goldstein's tax evasion trial will finally begin to deliberate on a 16-count verdict form, after federal prosecutors on Wednesday recounted lies they said he admitted to, ... (more story)
A Georgia limited liability company is challenging the denial of a charitable deduction for donated land it said was correctly valued at $77.9 million based on its potential use as a granite mine.
A coalition suing the IRS over its data-sharing deal with immigration enforcement authorities should not be allowed to investigate the agency's revelation that it shared some data improperly, the IRS told a D.... (more story)
Eversheds Sutherland's tax practice advised on key deals in 2025, guiding Duke Energy in securing $20 million in investment credits and aiding Verizon in avoiding $12 million in corporate franchise taxes, earn... (more story)
The Eighth Circuit misconstrued the statute underpinning transfer pricing regulations when it blocked the IRS from allocating nearly $24 million of 3M Co.'s Brazilian income, a tax professor said in backing th... (more story)
A New York federal judge has signed off on a $99 million request from attorneys representing Colgate-Palmolive retirees who sought fees, expenses and other costs from an overall $332 million megadeal, ending c... (more story)
State & Local More
Ohio House Puts Federal Tax Conformity Bill In Limbo
An Ohio bill that would update the state's conformity to the federal tax code hit a snag Wednesday after the state House passed the legislation, but Democrats succeeded in stripping a provision that could have... (more story)
Neb. Social Media Tax Plan Faces Pushback From Biz Groups
Nebraska's proposed tax on social media companies based on how many customers they have in the state would lead to protracted legal challenges and would hurt the state and the companies themselves, business gr... (more story)
Advanced Manufacturing Tax Breaks Pitched To Ore. Panel
Legislation to expand Oregon tax incentives for semiconductor makers and other advanced technology businesses would help revitalize the state's manufacturing sector, supporters of the bill told a Senate panel ... (more story)
Ore. Senate Panel OKs Estate Tax Threshold Boost
Oregon would boost its estate tax threshold from $1 million to $2.5 million, with a higher top tax rate, under legislation approved Wednesday by a state Senate committee.
Wash. Governor Demands Changes To Millionaires' Tax Bill
A proposal for a nearly 10% tax on income above $1 million that has passed the Washington state Senate is a good start, but it needs significant changes before it gets his signature, Democratic Gov. Bob Ferguson said Tuesday.
Head of DC's Tax Agency Named MTC Executive Director
The Multistate Tax Commission named a deputy chief financial officer for Washington, D.C., as the group's next executive director Tuesday.
County's Tourism Tax Use Was Reasonable, NC Justices Told
Counsel for a coastal North Carolina county told the state's Supreme Court justices Tuesday that commissioners' decision to spend occupancy tax dollars on public safety and infrastructure wasn't arbitrary and ... (more story)
An Ohio bill that would update the state's conformity to the federal tax code hit a snag Wednesday after the state House passed the legislation, but Democrats succeeded in stripping a provision that could have... (more story)
Nebraska's proposed tax on social media companies based on how many customers they have in the state would lead to protracted legal challenges and would hurt the state and the companies themselves, business gr... (more story)
Legislation to expand Oregon tax incentives for semiconductor makers and other advanced technology businesses would help revitalize the state's manufacturing sector, supporters of the bill told a Senate panel ... (more story)
Oregon would boost its estate tax threshold from $1 million to $2.5 million, with a higher top tax rate, under legislation approved Wednesday by a state Senate committee.
A proposal for a nearly 10% tax on income above $1 million that has passed the Washington state Senate is a good start, but it needs significant changes before it gets his signature, Democratic Gov. Bob Ferguson said Tuesday.
The Multistate Tax Commission named a deputy chief financial officer for Washington, D.C., as the group's next executive director Tuesday.
Counsel for a coastal North Carolina county told the state's Supreme Court justices Tuesday that commissioners' decision to spend occupancy tax dollars on public safety and infrastructure wasn't arbitrary and ... (more story)
International More
Most Of New Hires Won't Work On Mansion Tax, HMRC Says
Most of the 1,000 tax officials being hired by Britain's tax authority ahead of the rollout of the high-value council tax surcharge known as the mansion tax will not work directly on the tax, the authority's v... (more story)
Glencore Says It Paid $1B To HMRC Over Tax Disputes
Mining giant Glencore told shareholders Wednesday that it paid $1 billion to the U.K.'s tax authority last year over tax disputes but is pushing to recover some of the money.
Ex-IRS Official Drops Suit Over Private Info Leak
The former commissioner of the IRS' Large Business and International Division asked a D.C. federal court to drop her suit accusing the agency of unlawfully leaking information on her employment status to the m... (more story)
EU Blacklists Turks and Caicos, Vietnam As Tax Havens
The European Union blacklisted two countries as tax havens Tuesday over their failure to meet transparency standards and policies encouraging foreign companies and entities to shift their profits overseas.
Senate Dems Say IRS-ICE Privacy Warnings Proved Correct
The Internal Revenue Service's recent admission that a faulty system improperly shared taxpayer records with U.S. Immigration and Customs Enforcement vindicates long-standing warnings about privacy and data pr... (more story)
Gov'ts To Explore Transfer Pricing Database For UN Tax Pact
Governments are expected to form a task force on improving access to transfer pricing information, including by potentially creating a database, to support the dispute protocol under the United Nations framewo... (more story)
FinCEN Eases Beneficial Owner ID Rules For Banks
The U.S. Treasury Department's Financial Crimes Enforcement Network announced Friday that banks are excepted from certain aspects of the agency's customer due diligence rules, including the requirement to repe... (more story)
Most of the 1,000 tax officials being hired by Britain's tax authority ahead of the rollout of the high-value council tax surcharge known as the mansion tax will not work directly on the tax, the authority's v... (more story)
Mining giant Glencore told shareholders Wednesday that it paid $1 billion to the U.K.'s tax authority last year over tax disputes but is pushing to recover some of the money.
The former commissioner of the IRS' Large Business and International Division asked a D.C. federal court to drop her suit accusing the agency of unlawfully leaking information on her employment status to the m... (more story)
The European Union blacklisted two countries as tax havens Tuesday over their failure to meet transparency standards and policies encouraging foreign companies and entities to shift their profits overseas.
The Internal Revenue Service's recent admission that a faulty system improperly shared taxpayer records with U.S. Immigration and Customs Enforcement vindicates long-standing warnings about privacy and data pr... (more story)
Governments are expected to form a task force on improving access to transfer pricing information, including by potentially creating a database, to support the dispute protocol under the United Nations framewo... (more story)
The U.S. Treasury Department's Financial Crimes Enforcement Network announced Friday that banks are excepted from certain aspects of the agency's customer due diligence rules, including the requirement to repe... (more story)