Featured Stories

Stalled Pillar 1 Raises Specter Of EU Digital Tax

The stalling at the international level of a redistribution of taxing rights known as Pillar One is raising questi... (more story)

Pot Rescheduling Could Spur Inventory Accounting Change

If cannabis is reclassified to a lower tier under the Controlled Substances Act, it would unlock significant tax b... (more story)

Pillar 2 Could Clash With US Double-Dipping Loss Rules

The Pillar Two international minimum tax agreement involves calculations that could trigger long-standing U.S. rul... (more story)

Federal More

Court Should Block IRS 'Fishing Expedition,' Company Says

A company that claims it has been the victim of an IRS "fishing expedition" after being hit with a raft of document requests urged a Georgia federal judge Tuesday to keep alive its bid to quash the summonses, ... (more story)

US Biz Group Urges Treasury Against Basis Denial Rule

The U.S. Treasury Department should rethink its proposed upcoming rule that would deny the basis that U.S. companies have in particular foreign affiliates involved in certain inbound transactions, the National... (more story)

IRS Opens Free E-File Pilot To More New Users

The Internal Revenue Service temporarily reopened its free electronic filing pilot program to more new users Tuesday in the 12 states where taxpayers can participate, an agency official said in a statement.

Tax Court Couldn't Rule On Whistleblower Claims, Circ. Told

The U.S. Tax Court lacked authority to rule on two of a tipster's three claims that the IRS should have given him a whistleblower award, the government told the D.C. Circuit, urging it to vacate a decision eve... (more story)

DOL Finalizing ERISA Voluntary Correction Program Changes

A top official with the U.S. Department of Labor's employee benefits arm said Tuesday that the agency expects to soon finalize changes to a program allowing retirement plan managers to voluntarily self-correct... (more story)

Ex-Bank CFO Cops To $700K Theft And Life Insurance Scam

An ex-Eastern International Bank chief financial officer has pled guilty to defrauding the bank out of more than $700,000 to pay his personal expenses, and he admitted to opening life insurance policies in the... (more story)

US Can Bring Quick Appeal In Donor Reporting Rule Fight

The federal government can immediately appeal a ruling that would require it to prove a strong governmental interest in forcing nonprofits to report their major donors, an Ohio federal court decided Monday, sa... (more story)

State & Local More

Trump Can't Freeze $465M Penalty But Can Seek Loans

A New York state appellate judge on Wednesday refused to freeze the $465 million civil fraud judgment against Donald Trump while he appeals the award, but said the former president could take out loans to cove... (more story)

Wash. Judge Asks If COVID 'Fire Sale' Should Impact Tax Plan

A Seattle city attorney asked a Washington state appeals court on Tuesday to let the city keep a $160 million special property tax in place to fund waterfront improvements, as one judge questioned during oral ... (more story)

Attys Get Personal In Mich. Foreclosure Default Fight

Counsel traded jabs Monday over Michigan counties' tax foreclosure practices, with a lawyer for county treasurers claiming the other side took advantage of a family medical situation to launch a default judgme... (more story)

Chicago Board Will Appeal Transfer Tax Referendum Decision

The Chicago Board of Election Commissioners will appeal a Cook County Circuit Court decision that barred the city from counting any votes cast in the real estate transfer tax referendum in the March 19 primary... (more story)

Firm Accused Of 'Racial Panhandling' In Its Tax Collection Biz

Calling the property tax collection business in Texas a "white-boys-only club," a Black attorney in Houston has sued an area firm in state court, alleging it hired him to secure a government contract by appear... (more story)

Ala. Tax Tribunal Says Co. May Deduct Foreign Payments

A global food-packaging manufacturer that made $76.6 million in interest payments to an American parent, which then in turn made payments to foreign affiliates, is eligible for deductions in Alabama for those ... (more story)

No Tax Break On County Pay To Prison Co., NM Court Affirms

Prison company GEO Group was correctly denied an income tax deduction, a New Mexico appeals court said, rejecting the company's claim that the income at issue was from the resale of a license rather than the sale of services.

Manhattan DA Seeks Trump Gag Order For Hush Money Trial

The Manhattan District Attorney's Office has asked a New York state judge to limit what Donald Trump can say publicly about the upcoming hush money trial against him, referencing Trump's history of intimidatin... (more story)

DC's Housing Tax Break Proposal: What's In It, What's Missing

Proposed Washington, D.C., rules implementing the Housing in Downtown Tax Abatement program — for commercial property owners who convert properties into residential housing — thoroughly explain the process for... (more story)

International More

Bank Disputes South Africa's $254M Claim Over Client Taxes

A South African bank said it should not be held liable for 4.9 billion rand ($254.2 million) plus interest and costs for taxes that the country's revenue service could not collect from the bank's former foreig... (more story)

HMRC Customer Service At All-Time Low, Report Finds

The U.K. tax authority has reached an all-time low level of customer service due to the rising demands from taxpayers and the growing complexity of tax problems, according to a parliamentary report published Wednesday.

Grim UK Fiscal Outlook Precludes Tax Cuts, Think Tank Warns

The U.K. government should focus on reducing the national debt rather than tax cuts in the March 6 Budget statement, according to research published Tuesday by the Institute for Fiscal Studies, an influential think tank.

6 Pointers For Attys To Build Trust, Credibility On Social Media

In an era of information overload, attorneys can use social media strategically — from making infographics to leveraging targeted advertising — to cut through the noise and establish a reputation among current... (more story)

Pillar 1 Ratification Will Be Difficult, EU Official Says

A top European Commission official said he expects participating jurisdictions to sign a convention to implement the OECD's Pillar One plan for reallocating taxing rights in June as planned, but he admitted th... (more story)

Taxation With Representation: Gibson Dunn, Wachtell

In this week's Taxation with Representation, two asset managers invest in AITi Global, Chord Energy Corp. buys Enerplus Corp. and Truist sells an insurance subsidiary to an investor group led by private equity firms.

Spain Allowed To Reclaim Illegal Aid Given To Ship Buyers

Spain can reclaim the financial benefits given to beneficiaries of a tax scheme that gave illegal state aid to purchasers of ships built in Spanish shipyards, the European Union's General Court has ruled.