Featured Stories

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)

Swiss Seen Turning To Credits, Subsidies As Pillar 2 Begins

Switzerland is expected to turn to the use of subsidies and tax credits to try to keep business in the country as ... (more story)

Ohio Justices May Clear Up Persistent Sourcing Questions

Two cases pending before the Ohio Supreme Court could resolve questions around the evidentiary bar needed to prove... (more story)

Federal More

Attys Settle Yacht Donor's Malpractice Suit Over $4.6M Tax Bill

A New York law firm and two attorneys have settled what remained of a malpractice suit brought by a former client who alleged faulty legal advice led to her being slapped with a $4.6 million tax bill, with a j... (more story)

US Can't Appeal Order To Give Avenatti's Tax Info To Trustee

A California federal judge declined Wednesday to allow the U.S. to appeal a bankruptcy court's decision ordering Michael Avenatti's tax returns to be released to the trustee overseeing the estate of Eagan Aven... (more story)

Conn. Embezzler Gets 2 Years For $1M Mom-And-Pop Ripoff

The former office manager for a family-owned construction business in Connecticut must serve 24 months in prison for stealing nearly $1 million from her employer through a yearslong embezzlement scheme and fai... (more story)

Energy Credit's Cost Exclusions Flout Congress, IRS Told

The U.S. Treasury Department and Internal Revenue Service flouted congressional intent in proposed rules for the advanced green energy manufacturing tax credit by putting forth production cost exclusions, incl... (more story)

Why Biz Groups Disagree On Ending Chevron Deference

Two amicus briefs filed in advance of last month's U.S. Supreme Court oral arguments in Loper Bright Enterprises v. Raimondo highlight contrasting views on whether the doctrine of Chevron deference promotes or... (more story)

IRS Agent, Gov't Attys Immune From RICO Suit, Judge Says

An Arizona federal judge dismissed a $15 million lawsuit against an Internal Revenue Service agent and two assistant U.S. attorneys brought by an investment adviser convicted of filing false tax returns, sayin... (more story)

Convicted Chicago Pol Seeks Acquittal Or New Trial

One of Chicago's longest serving and most powerful local politicians asked an Illinois federal judge Wednesday to set aside a jury's December verdict convicting him of using his official position to steer tax ... (more story)

State & Local More

Ex-HFZ Capital Chief Denies $86M Real Estate Fraud Charges

The former head of troubled real estate firm HFZ Capital Group has pled not guilty in New York state court to dozens of criminal charges alleging he spearheaded a series of theft and tax fraud schemes that net... (more story)

US Can't Tax Ariz. Residents' Rebates From State, Court Told

Arizona residents should not owe federal income tax on the state's one-time tax rebates issued last year because they were "general welfare" payments that federal guidance says are excluded from taxation, the ... (more story)

Gallo Winery Qualifies For Lower NY Biz Tax Rate, ALJ Rules

E.& J. Gallo Winery is eligible for a reduced business tax rate because it meets the requirements of a qualified New York manufacturer despite contracting a company to manage its property in the state, an admi... (more story)

Va. Oil Terminal's Tax Value Upheld By Appeals Court

A petroleum terminal was correctly valued by a local assessor at about $63 million for 2018 and $66 million for 2020, the Virginia Court of Appeals said, rejecting the owner's argument that the property's busi... (more story)

Sirius XM, NJ Settle $1.4M Tax Dispute Over Receipt Sourcing

Sirius XM and New Jersey's tax agency agreed to settle the company's protest of a $1.4 million corporate tax assessment that centered on the proper method for sourcing receipts from services for tax years befo... (more story)

A Post-Mortem Analysis Of Stroock's Demise

After the dissolution of 147-year-old firm Stroock late last year shook up the legal world, a post-mortem analysis of the data reveals a long list of warning signs preceding the firm’s collapse — and provides ... (more story)

Baker McKenzie Adds San Francisco Tax Pro From Boutique

Baker McKenzie has hired a state and local tax lawyer in San Francisco who joins the firm to broaden its ability to work with clients on a range of California tax matters, the firm announced Wednesday.

HCA Healthcare Challenges $13.8M Fla. Tax Bill

Florida wrongly classified nonbusiness income as business income and didn't recognize a federal credit for wages paid outside the state when it upheld a $13.8 million corporate income tax assessment on HCA Hea... (more story)

Kansas House Fails To Override Gov.'s Veto Of Flat Tax

A bill that would have restructured Kansas' current income tax rates to create a flat tax rate of 5.25% failed by a single vote Tuesday to override the governor's veto.

International More

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.

Frankfurt Wins Bid For EU's New AML Center

The European Union's new authority to fight money laundering and terrorist financing will be in Frankfurt, Germany, the European Commission announced Wednesday.

NatWest Settles £60M VAT Fraud Case Ahead Of Retrial

NatWest Markets PLC and liquidators for several defunct trading companies have settled a £60 million ($75.9 million) dispute over whether the bank is liable for a huge value-added tax fraud scheme ahead of a retrial.

US-Chile Tax Treaty May Encourage Cross-Border Investors

Provisions in the recently effective U.S.-Chile bilateral income tax treaty should encourage business between the two countries, as they reduce U.S. withholding tax on investment income for Chilean taxpayers, ... (more story)

Gang Jailed For 'Industrial Scale' Money Laundering Operation

Four members of a gang that sent £26 million ($33 million) in dirty money to Dubai by depositing illegal cash at banks have been jailed for a combined 22 years, the U.K.'s tax authority said Thursday.

Malta's Used Car Tax Breaches Law, Top EU Court Rules

Malta is breaking EU law when it charges a higher annual tax for used cars bought in other countries in the bloc and brought to the island state, the European Court of Justice said in a judgment issued Thursday. 

EU Parliament Committee Wants Transfer Pricing Law Sooner

A committee of the European Parliament said Thursday that it wants proposed new transfer pricing rules to enter into force one year earlier than currently planned.