1st Circ. Skeptical Of Legal Basis For IRS-ICE Data Sharing
The First Circuit repeatedly suggested during a hearing Wednesday that the Trump administration's use of a privacy exception in the tax code for criminal investigations to justify demanding tax records of noncitizens could allow it to target nearly anyone's private returns.
Okla. High Court Bars Property Tax Phaseout From Ballot
An Oklahoma ballot measure that proposed eliminating the state's ad valorem property tax by 2029 is unconstitutional and cannot appear on the November ballot, the state Supreme Court ruled.
Calif. Tribe Says Kalshi Evades Tribal Sports Betting Bans
A Southern California tribe warned the U.S. Supreme Court on Tuesday that a recent Third Circuit decision blocking New Jersey from enforcing its gambling laws against Kalshi could threaten tribes' exclusive rights to regulate gambling on their reservations.
1st Circ. Skeptical Of Legal Basis For IRS-ICE Data Sharing
The First Circuit repeatedly suggested during a hearing Wednesday that the Trump administration's use of a privacy exception in the tax code for criminal investigations to justify demanding tax records of noncitizens could allow it to target nearly anyone's private returns.
Okla. High Court Bars Property Tax Phaseout From Ballot
An Oklahoma ballot measure that proposed eliminating the state's ad valorem property tax by 2029 is unconstitutional and cannot appear on the November ballot, the state Supreme Court ruled.
Calif. Tribe Says Kalshi Evades Tribal Sports Betting Bans
A Southern California tribe warned the U.S. Supreme Court on Tuesday that a recent Third Circuit decision blocking New Jersey from enforcing its gambling laws against Kalshi could threaten tribes' exclusive rights to regulate gambling on their reservations.
Federal More
By better understanding neurodiversity and implementing simple accommodations for clients with autism, ADHD or learning differences, attorneys can build stronger relationships with those who may otherwise stru... (more story)
A former president of a nonprofit organization serving the Telugu community who falsified tax returns by reclassifying expenditures meant to reimburse donors as legitimate expenses pled guilty to conspiracy to... (more story)
The trust responsible for liquidating assets of the Silicon Valley Bank, which went into receivership in 2023, owes none of $41 million in assessed tax deficiencies and is due a $21.7 million refund, the IRS a... (more story)
A former Tennessee county commissioner was sentenced to two years in prison for evading taxes by failing to report to the IRS roughly $311,000 over five years in income derived from grants that the commission ... (more story)
The U.S. Supreme Court's decision upholding federal fines against wireless giants has no bearing on the government's appeal to reinstate the IRS' $1 million penalty against a woman for failing to follow her fo... (more story)
The former majority owner of Charlotte's minor league hockey team has admitted to filing a false tax return in 2020 that federal prosecutors said drastically understated his income, court records filed in the ... (more story)
The IRS should have allowed a partnership to deduct $22.6 million for its donation of a historic building and land in Buncombe County, North Carolina, to a preservation society in 2019, the partnership told th... (more story)
State & Local More
Illinois Banking Brief: All The Notable Legal Updates In Q3
Recent banking developments in Illinois include significant new consumer protection legislation, three meaningful Seventh Circuit decisions, and a high-profile constitutional challenge to the state's new digit... (more story)
Amazon Shoppers' Tariff Refund Suits Sent To Seattle As MDL
The Judicial Panel on Multidistrict Litigation has centralized a series of proposed class actions accusing Amazon of denying online shoppers tariff refunds, sending lawsuits filed in Florida, Michigan, New Yor... (more story)
Illinois' Curbs On Kalshi Sports Contracts Blocked For Now
An Illinois federal judge temporarily blocked the state from enforcing its gambling license requirements against Kalshi and Coinbase on Friday, saying that the companies' core sports betting contracts are like... (more story)
Bilzin Sumberg Expands Tax Practice With Nelson Mullins Atty
Bilzin Sumberg Baena Price & Axelrod LLP has expanded its tax and private wealth practice with the addition of a Miami-based partner from Nelson Mullins Riley & Scarborough LLP.
Minn. Court Wrong To OK Childcare Tax Break, County Says
A Minnesota childcare center missed a statutory filing deadline for a property tax break and thus should not be allowed the deduction, the state's largest county told the state Supreme Court, urging it to reve... (more story)
NJ Tax Court Axes Challenge To Internet Activity Tax Rules
The New Jersey Tax Court tossed a trade group's challenge to the state's regulations that outline when an out-of-state company's internet activities exceed a federal law's protections against state income taxe... (more story)
Signatures For Colo. Graduated Tax Plan Valid, Court Told
Signature gatherers for a Colorado ballot measure for graduated income tax rates followed all state laws aimed at preventing fraud, election officials and the measure's backers told a state court, urging it to... (more story)
Recent banking developments in Illinois include significant new consumer protection legislation, three meaningful Seventh Circuit decisions, and a high-profile constitutional challenge to the state's new digit... (more story)
The Judicial Panel on Multidistrict Litigation has centralized a series of proposed class actions accusing Amazon of denying online shoppers tariff refunds, sending lawsuits filed in Florida, Michigan, New Yor... (more story)
An Illinois federal judge temporarily blocked the state from enforcing its gambling license requirements against Kalshi and Coinbase on Friday, saying that the companies' core sports betting contracts are like... (more story)
Bilzin Sumberg Baena Price & Axelrod LLP has expanded its tax and private wealth practice with the addition of a Miami-based partner from Nelson Mullins Riley & Scarborough LLP.
A Minnesota childcare center missed a statutory filing deadline for a property tax break and thus should not be allowed the deduction, the state's largest county told the state Supreme Court, urging it to reve... (more story)
The New Jersey Tax Court tossed a trade group's challenge to the state's regulations that outline when an out-of-state company's internet activities exceed a federal law's protections against state income taxe... (more story)
Signature gatherers for a Colorado ballot measure for graduated income tax rates followed all state laws aimed at preventing fraud, election officials and the measure's backers told a state court, urging it to... (more story)
International More
USTR Probes EU Carbon Tax's Impact On US Trade
The U.S. is considering whether the European Union's carbon import tax and proposals to expand its scope harm American producers, the U.S. Trade Representative's Office said.
EU Lawmaker Warns Against Deleting Tax From Biz Proposal
A European Union proposal to boost entrepreneurship would be significantly undermined if its tax provisions are scrapped, a lead lawmaker said Wednesday, adding that such a decision could create a political de... (more story)
Hungary's Government Proposes 1% Wealth Tax
Hungary wants to levy an annual 1% wealth tax on fortunes above 1 billion Hungarian forints ($3.07 million) starting at the end of this year, roping in assets held abroad and those held by trusts, private foun... (more story)
Ireland Plans To Lift Threshold For Higher Tax Rate In Budget
The Irish government said Tuesday that it will increase a threshold at which a higher rate of income tax is due as part of its 2027 budget package.
Novel Strategy Prompted ETF Guidance, Treasury Atty Says
The U.S. Department of the Treasury's recent revenue ruling and notice cracking down on improper arrangements using legitimate exchange-traded fund conversions was a response to a marketed transaction that was... (more story)
Tax Pros From Brazil, Canada Highlight APA Challenges
Brazil's nascent transfer pricing system isn't yet prepared for an influx of advance pricing agreement requests, a tax specialist from that country said Monday, while a Canadian attorney said the APA process i... (more story)
Philippine Airlines Asks Tax Court To Cut $5.7M Off Tax Bill
The IRS cannot deny Philippine Airlines a tax exemption on income from passengers and excess baggage just because the Philippines taxes cargo income, the airline told the U.S. Tax Court in a bid to cut more th... (more story)
The U.S. is considering whether the European Union's carbon import tax and proposals to expand its scope harm American producers, the U.S. Trade Representative's Office said.
A European Union proposal to boost entrepreneurship would be significantly undermined if its tax provisions are scrapped, a lead lawmaker said Wednesday, adding that such a decision could create a political de... (more story)
Hungary wants to levy an annual 1% wealth tax on fortunes above 1 billion Hungarian forints ($3.07 million) starting at the end of this year, roping in assets held abroad and those held by trusts, private foun... (more story)
The Irish government said Tuesday that it will increase a threshold at which a higher rate of income tax is due as part of its 2027 budget package.
The U.S. Department of the Treasury's recent revenue ruling and notice cracking down on improper arrangements using legitimate exchange-traded fund conversions was a response to a marketed transaction that was... (more story)
Brazil's nascent transfer pricing system isn't yet prepared for an influx of advance pricing agreement requests, a tax specialist from that country said Monday, while a Canadian attorney said the APA process i... (more story)
The IRS cannot deny Philippine Airlines a tax exemption on income from passengers and excess baggage just because the Philippines taxes cargo income, the airline told the U.S. Tax Court in a bid to cut more th... (more story)