Featured Stories

The Tax Angle: More GOP TCJA Teams, Nonprofit Hospitals

From a look at efforts by the Republicans on the Senate Finance Committee to prepare for next year's expiration of... (more story)

Staffing Hurdles Could Slow Impact Of IRS Audit Boost

The Internal Revenue Service's intended ramping up of enforcement on wealthy people, large corporations and comple... (more story)

A Chronology Of The Hunter Biden Investigation

The story behind President Joe Biden's son Hunter Biden's conviction on federal gun charges started with a gun pur... (more story)

Federal More

Ga. CPA Admits To Role In $1.3B Tax Fraud Scheme

After a federal jury convicted two of his co-conspirators in a landmark conservation easement tax shelter trial last year, a Georgia accountant who'd previously denied culpability elected to change course Frid... (more story)

5th Circ. Says Jury Instructions Deeply 'Flawed' In Tax Suit

A Fifth Circuit panel has found that the jury instructions for a $580,000 tax dispute were "irredeemably flawed," vacating the verdict and handing a loss to a partnership that claimed it had reasonable cause f... (more story)

US Urges 5th Circ. To Back $2M Tax Bill For Tire Imports

The Fifth Circuit should overturn a lower court's ruling that a Houston truck company was not an importer responsible for nearly $2 million in excise taxes on tires it bought from a Chinese manufacturer, the U... (more story)

Eaton Says Court Improperly Required Int'l Employee Evals

An Ohio federal court should reconsider its decision that multinational power management company Eaton must disclose the personnel records of its foreign employees that were requested by the Internal Revenue S... (more story)

IRS Says Ariz. Lacks Standing To Fight Taxation Of Rebates

Arizona did not have standing to lodge its claim that its 2023 income tax rebates should be exempt from federal tax, the Internal Revenue Service told a federal court, arguing the taxes paid by Arizonans did n... (more story)

Tax Preparer Blames Customers For Errors In $42.5M Dispute

A tax preparer who once worked for the IRS said the government wrongly accused him of underestimating clients' tax liabilities, telling a Washington federal court in response to allegations that he caused $42.... (more story)

Taxation With Representation: Kirkland, Arnold & Porter

In this week's Taxation with Representation, Noble Corp. PLC buys Diamond Offshore Drilling Inc., Cognizant buys Belcan, AlphaSense raises funding to buy Tegus, and Matador Resources Co. acquires a subsidiary ... (more story)

State & Local More

Credit Cards And Trading Cards: SALT In Review

From Mastercard's loss in a South Carolina court case to the taxability of trading cards imported to California, RSM's David Brunori offers his thoughts on noteworthy state and local tax news.

NY Court Strikes Housing Tax Break's Labor Dispute Process

A New York state court has undercut a provision in a since-expired affordable housing tax break that enabled a city watchdog to issue judgments against developers who underpaid construction workers, deeming th... (more story)

Senate Budget Chair Seeks End To Carried Interest Tax Break

Lawmakers should end the favorable tax treatment of income from carried interest compared with ordinary earned income, Senate Budget Committee Chairman Sheldon Whitehouse said Wednesday.

Calif. Budget Will Likely Have Unexpected Tax Consequences

A temporary suspension of net operating loss deductions and business incentive tax credits, likely to be approved on June 15 as part of California’s next budget, may create unanticipated tax liabilities for bu... (more story)

Treasury Issued Over $1B In Clean Vehicle Tax Credits

The clean vehicle tax credit of up to $7,500 has saved buyers more than $1 billion in total upfront costs since January, the U.S. Treasury Department announced Wednesday, saying the figures represent a major m... (more story)

Litigation Inspiration: Attys Can Be Heroic Like Olympians

Although litigation won’t earn anyone an Olympic medal in Paris this summer, it can be worthy of the same lasting honor if attorneys exercise focused restraint — seeking both their clients’ interests and those... (more story)

Precedent Favors Nationwide In Mich. Tax Fight, Judge Says

A Michigan Court of Appeals judge said Tuesday that the state's tax agency was asking the court to turn its back on recent precedent to hold that Nationwide entities couldn't file as a unitary business to shar... (more story)

No Tax Owed On Mailed Ads, Insurer Tells Mich. Appeals Court

Advertisements mailed for a Michigan insurance provider by an out-of-state direct-mail contractor should not incur the state's use tax, the insurer told a state appeals court Tuesday.

Global Combined Reporting Catches States' Eyes, Expert Says

States in the last two years are showing interest in worldwide combined reporting at a level not seen in decades, a tax expert said.

International More

Mining Co. Entity Can't Deduct Loan Interest, UK Court Says

A U.S. mining company's entity in the U.K. that was created to save taxes through the acquisition of a Texas-based firm cannot overturn the Upper Tribunal's decision that its U.K tax deductions weren't deserve... (more story)

Full DC Circ. Won't Hear Foreign Disclosure Penalty Dispute

The D.C. Circuit declined to reconsider its ruling overturning a major U.S. Tax Court decision that had crimped the administrative collection arm of the Internal Revenue Service, letting stand a panel's restor... (more story)

UK Broker Denied Supreme Court Hearing Over Cum Ex Raids

Judges at a London court refused on Friday to allow a brokerage to challenge at the U.K. Supreme Court findings that a raid on its London office during an investigation into tax fraud in 2022 was legal, findin... (more story)

EU Eyeing Exchange Rules Linked To Min. Tax, Official Says

The European Union is looking to introduce rules regarding the exchange of information pertaining to the global minimum corporate tax, a top official in the EU's executive branch said Thursday.

Feds Strike Deal Ending $7M FBAR Penalty Cases

The U.S. government agreed to settle a pair of foreign bank account reporting cases in which it had sought a total of $7 million from a former insurance broker and his wife's estate, according to a court order... (more story)

Compliance Costs Outweigh Min. Tax Gains, Biz Reps Say

Multinational businesses are concerned that the burden of complying with the 15% global minimum tax outweighs any potential revenue gains associated with the burgeoning system, tax attorneys and a trade associ... (more story)

Kostelanetz Partners Talk Benefits Of Atlanta Tax Firm Tie-Up

Kostelanetz LLP partners Bryan Skarlatos and Todd Welty discuss the firm’s recent combination with Atlanta boutique Welty PC.