The phaseout of the penny would become law and retailers would be able to round cash transactions up or down to the nearest 5-cent amount under a bill that the U.S. House passed Tuesday, sending it to the Senate.

A California bicycle seller told the U.S. Tax Court that the IRS' faulty appraisal of its value caused the agency to mischaracterize a transaction with its parent company as a discharge of indebtedness and a $... (more story)

The Fifth Circuit affirmed a tax preparer's nearly 16-year sentence for aiding in the preparation of false and fraudulent tax returns, rejecting his argument that a Texas federal court erred when it denied his... (more story)

The IRS' nonprofit donor disclosure rule violates the First Amendment, a conservative youth group told a D.C. federal court, arguing that a now-convicted contractor's theft of donor records and those of high-r... (more story)

Tom Goldstein’s upcoming sentencing provides a useful lens for defense practitioners seeking a variance from the guidelines range, serving as a reminder to distinguish those requests from guidelines challenges... (more story)

IRS experts erred at trial in relying on other land sales to calculate a value of under $1 million for Alabama property donated to a conservation group in 2017, far below the $28 million determined by the part... (more story)

President Donald Trump nominated a former acting Internal Revenue Service chief counsel for a seat in the U.S. Tax Court on Monday.

New York Gov. Kathy Hochul has signed an executive order that blocks any new hyperscale data center projects from being built in her state by temporarily pausing environmental permits for those types of projec... (more story)

New Jersey Gov. Mikie Sherrill on Monday signed into law a bill intended to ensure consumers don't bear the costs of nuclear power projects needed to help address the growing demand for electricity driven prim... (more story)

The Second Circuit on Monday upheld New York City's congestion pricing, rejecting two suburban counties' claims that Manhattan's congestion pricing tolls are discriminatory and unconstitutionally restrict moto... (more story)

The second quarter brought several notable financial services law developments to Michigan, including a U.S. Supreme Court ruling on state tax foreclosures, progress on a money transmission modernization bill ... (more story)

A Missouri federal court closed a class action by online customers claiming excessive tax charges by a mattress retailer after the parties reached a deal that will see the customers refunded.

California's managed care organization provider tax, which was restructured and requires federal approval under a recently enacted law, should be rejected by the U.S. government, state Assembly Republicans sai... (more story)

The small central Massachusetts town of Lancaster says a developer is trying to wriggle out of paying half of an agreed-upon impact contribution spelled out in a deal to create a mixed-use "enterprise district... (more story)

A London tribunal was wrong to rule that Liverpool's port operator can claim tax allowances on £57.1 million ($76.4 million) spent constructing part of a deep-water container terminal, the U.K. tax authority argued Tuesday.

A Berlin court convicted three individuals, including a tax adviser, tied to a €50 million ($57.1 million) value-added tax fraud involving luxury vehicles and medical face masks, the European Public Prosecutor... (more story)

Greek authorities seized evidence and assets from companies tied to a suspected value-added tax fraud scheme involving small electronic goods that produced €46.9 million ($53.6 million) in lost tax revenue, th... (more story)

Policymakers should reflect on the rationale behind the European Union's interest limitation rule — a tool that can increase firms' tax bases — as it is hitting companies that aren't circumventing tax mandates... (more story)

An Israeli law firm asked the D.C. federal court Monday to disregard the government's attempt to end its suit aiming to scrap regulations that implemented the 2017 tax law's global intangible low-taxed income ... (more story)

A Utah federal judge declined to reduce further the original sentence of an accomplice in a $500 million biofuel production tax credit fraud scheme, finding that his prior reduction to 12 years had sufficientl... (more story)

A lobbying group representing U.S. companies called on the European Union to respect the country's side-by-side agreement as the bloc continues to work on a tax simplification overhaul.