NC Supreme Court Clarifies Tax On Prepaid Wireless
A North Carolina cellphone retailer for Boost Mobile products is responsible for tax on prepaid wireless calling services, the state's highest court ruled Friday, though finding that when those services changed to take the form of cards with stored value, tax liability shifted to Boost.
Judge Says Eaton Moved $14B Subsidiary For Tax Purposes
A U.S. Tax Court judge said Friday that he plans to find Eaton's U.S. group transferred ownership of a $14 billion subsidiary overseas in 2012 solely to justify payment of higher interest rates and guarantee fees to the company's new Irish parent.
Natural Gas Tax Nixed For Wash. Silicon Maker On Appeal
A Washington state maker of silicon materials used in solar semiconductors qualified for a tax exemption for natural gas purchased for use in its manufacturing process, an appeals court said Thursday, reversing a state board.
NC Supreme Court Clarifies Tax On Prepaid Wireless
A North Carolina cellphone retailer for Boost Mobile products is responsible for tax on prepaid wireless calling services, the state's highest court ruled Friday, though finding that when those services changed to take the form of cards with stored value, tax liability shifted to Boost.
Judge Says Eaton Moved $14B Subsidiary For Tax Purposes
A U.S. Tax Court judge said Friday that he plans to find Eaton's U.S. group transferred ownership of a $14 billion subsidiary overseas in 2012 solely to justify payment of higher interest rates and guarantee fees to the company's new Irish parent.
Natural Gas Tax Nixed For Wash. Silicon Maker On Appeal
A Washington state maker of silicon materials used in solar semiconductors qualified for a tax exemption for natural gas purchased for use in its manufacturing process, an appeals court said Thursday, reversing a state board.
Federal More
The U.S. Department of Justice — despite recently eliminating its Tax Division as part of a broad restructuring — continues to meet with practitioners representing clients who may face federal criminal tax cha... (more story)
The Internal Revenue Service will be updating a program early next year that would allow taxpayers to voluntarily report previously undisclosed income as a way to resolve their tax issues to facilitate a simpl... (more story)
Two federal court decisions suggesting that the Internal Revenue Service's rules for 501(c)(4) organizations' political activity may be too vague to survive constitutional scrutiny leave nonprofit organization... (more story)
While proposals for limiting the terms of U.S. Supreme Court justices are popular, a steady stream of relatively young, highly marketable ex-justices with unique knowledge and influence entering the marketplac... (more story)
The Trump administration's tariff regime has reshaped the commercial restructuring landscape this year, with an increased number of bankruptcy filings showing how tariffs are influencing first‑day narratives, ... (more story)
The U.S. Treasury Department issued final regulations Friday for determining whether income of foreign governments derived within the U.S. is taxable along with proposed regulations concerning when a foreign g... (more story)
In this week's Taxation With Representation, Paramount Skydance Corp. launches a hostile bid for Warner Bros. Discovery, challenging Netflix's deal to acquire the studio and streaming business, IBM acquires da... (more story)
State & Local More
Pact Board To Weigh New Tax Rules Amid Penny Shortage
A Streamlined Sales Tax Governing Board committee took initial steps Friday to consider guidance that would address how sales tax should be calculated on cash transactions that are rounded to 5-cent increments... (more story)
House Advances Bill To Suspend Tax Refund Claim Limits
The House Ways and Means Committee approved several tax bills Wednesday, including legislation that suspends the limitation period to file a refund claim until an IRS collection due process hearing concludes a... (more story)
DOJ Seeks Fairness Review From High Court In Tax Dispute
A property owner is appropriately compensated if given surplus proceeds from a government sale of their property for more than the owner owed, provided the sale was conducted fairly, the federal government tol... (more story)
Kilpatrick Brings On Akerman SALT Pro
Kilpatrick Townsend said Wednesday that it's bringing on a former Akerman tax professional, experienced in advising clients from middle-market businesses to Fortune 500 companies, to the firm's state and local tax practice.
Ohio Lawmakers OK Limits On Pot Legalization, Tax Law
Ohio would restrict cannabis use and the sale of intoxicating hemp products with new criminal penalties for certain activities and make other changes to the state's voter-approved marijuana legalization and ta... (more story)
Tariffs Add Complexity To State Tax Systems, Tax Pros Say
Tariffs promoted by President Donald Trump's administration are increasing state sales and use tax complexity and risk, which may not easily be undone even if the U.S. Supreme Court strikes the tariffs down, t... (more story)
State Taxation Of AI Presents Sourcing Questions, Attys Say
Sourcing and nexus questions related to the taxation of artificial intelligence may arise if states scrutinize the technology under existing tests for taxing services and digital items, tax practitioners said Tuesday.
No Wrongdoing By County In Valuation Row, Md. Court Says
A Maryland man failed to exhaust his administrative remedies or show that county authorities committed constitutional violations when he appealed his property's valuation, the Appellate Court of Maryland said,... (more story)
AI Evidence Rule Tweaks Encourage Judicial Guardrails
Recent additions to a committee note on proposed Rule of Evidence 707 — governing evidence generated by artificial intelligence — seek to mitigate potential dangers that may arise once machine outputs are intr... (more story)
A Streamlined Sales Tax Governing Board committee took initial steps Friday to consider guidance that would address how sales tax should be calculated on cash transactions that are rounded to 5-cent increments... (more story)
The House Ways and Means Committee approved several tax bills Wednesday, including legislation that suspends the limitation period to file a refund claim until an IRS collection due process hearing concludes a... (more story)
A property owner is appropriately compensated if given surplus proceeds from a government sale of their property for more than the owner owed, provided the sale was conducted fairly, the federal government tol... (more story)
Kilpatrick Townsend said Wednesday that it's bringing on a former Akerman tax professional, experienced in advising clients from middle-market businesses to Fortune 500 companies, to the firm's state and local tax practice.
Ohio would restrict cannabis use and the sale of intoxicating hemp products with new criminal penalties for certain activities and make other changes to the state's voter-approved marijuana legalization and ta... (more story)
Tariffs promoted by President Donald Trump's administration are increasing state sales and use tax complexity and risk, which may not easily be undone even if the U.S. Supreme Court strikes the tariffs down, t... (more story)
Sourcing and nexus questions related to the taxation of artificial intelligence may arise if states scrutinize the technology under existing tests for taxing services and digital items, tax practitioners said Tuesday.
A Maryland man failed to exhaust his administrative remedies or show that county authorities committed constitutional violations when he appealed his property's valuation, the Appellate Court of Maryland said,... (more story)
Recent additions to a committee note on proposed Rule of Evidence 707 — governing evidence generated by artificial intelligence — seek to mitigate potential dangers that may arise once machine outputs are intr... (more story)
International More
Judge Slams Eaton Expert For Offering Legal Analysis
A report submitted by one of Eaton's expert witnesses in its acquisition financing trial overstepped the limits of an expert's role, offering legal rather than economic analysis and seeming to advocate for the... (more story)
Fed Terminates 3 Actions Against Credit Suisse, JPMorgan
The Federal Reserve said Thursday that it has terminated a trio of enforcement actions against Credit Suisse Group AG and JPMorgan Chase & Co., lifting consent orders that were tied to alleged illicit finance ... (more story)
Wealth Taxes Can Succeed Despite Flaws, EU Panel Hears
Wealth taxes have underperformed across the European Union because of design flaws, but this doesn't mean such levies can't work or that there are no alternatives, tax experts said Thursday.
Judge Probes IRS Expert On Method For Eaton's Credit Rating
A U.S. Tax Court judge asked an IRS expert Wednesday about his calculation of a standalone credit rating for Eaton's U.S. group in 2012, when it acquired an Irish entity and inverted, noting that the expert, u... (more story)
Sabre Tax Dispute Belongs In UK Court, British Airways Says
Flight booking giant Sabre's lawsuit over a U.K. digital tax bill should be dismissed or left for a British court to rule on, British Airways told a Texas federal court, arguing that the digital services tax i... (more story)
Conservative Justices Probe 'Husk' Of FTC Firing Protections
The U.S. Supreme Court's conservative majority pushed back Monday against the 90-year-old precedent permitting the removal only for cause of Federal Trade Commission members, and perhaps those serving other in... (more story)
The Law Firm Merger Diaries: Getting The Message Across
Communications and brand strategy during a law firm merger represent a crucial thread that runs through every stage of a combination and should include clear messaging, leverage modern marketing tools and embr... (more story)
A report submitted by one of Eaton's expert witnesses in its acquisition financing trial overstepped the limits of an expert's role, offering legal rather than economic analysis and seeming to advocate for the... (more story)
The Federal Reserve said Thursday that it has terminated a trio of enforcement actions against Credit Suisse Group AG and JPMorgan Chase & Co., lifting consent orders that were tied to alleged illicit finance ... (more story)
Wealth taxes have underperformed across the European Union because of design flaws, but this doesn't mean such levies can't work or that there are no alternatives, tax experts said Thursday.
A U.S. Tax Court judge asked an IRS expert Wednesday about his calculation of a standalone credit rating for Eaton's U.S. group in 2012, when it acquired an Irish entity and inverted, noting that the expert, u... (more story)
Flight booking giant Sabre's lawsuit over a U.K. digital tax bill should be dismissed or left for a British court to rule on, British Airways told a Texas federal court, arguing that the digital services tax i... (more story)
The U.S. Supreme Court's conservative majority pushed back Monday against the 90-year-old precedent permitting the removal only for cause of Federal Trade Commission members, and perhaps those serving other in... (more story)
Communications and brand strategy during a law firm merger represent a crucial thread that runs through every stage of a combination and should include clear messaging, leverage modern marketing tools and embr... (more story)