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

A Proposal For Fairer, More Efficient Innocent Spouse Relief

Adding a simple election to the current regulatory framework for innocent spouse claims would benefit both taxpayers and the Internal Revenue Service by alleviating the undue burdens placed on those the progra... (more story)

IRS Enforcement Push Will Target 125K Wealthy Nonfilers

The Internal Revenue Service is ramping up enforcement against 125,000 high-income taxpayers who haven't filed returns since 2017 as a part of its ongoing efforts to increase tax compliance, the agency's chief... (more story)

Bankrupt Endo To Pay $465M To Resolve Opioid Claims

Drugmaker Endo International has agreed to pay as much as $465 million to resolve criminal and civil claims stemming from its sale and marketing of a powerful opioid, and will turn over its assets to a group o... (more story)

7 Common Myths About Lateral Partner Moves

As lateral recruiting remains a key factor for law firm growth, partners considering a lateral move should be aware of a few commonly held myths — some of which contain a kernel of truth, and some of which are... (more story)

Crapo Seeks Changes To Child Tax Credit Provisions In Bill

The top-ranking Republican on the Senate Finance Committee said Wednesday that he cannot support the bipartisan tax bill pending in the Senate as long as a provision that allows taxpayers to receive a refundab... (more story)

Amgen Seeks Dismissal Of Investor Action Over $11B Tax Bill

Amgen had no obligation to disclose specific amounts of proposed adjustments to its taxes, the company told a New York federal court as it again demanded dismissal of a proposed class action alleging the compa... (more story)

Embattled Philly Loan Biz Principals Hit With RICO Charges

Legal troubles for the principals of Philadelphia's Par Funding cash advance company are mounting as federal prosecutors hit them with a new indictment adding Racketeer Influenced and Corrupt Organizations Act... (more story)

State & Local More

Wash. Housing Program Funding Stream Survives Challenge

A Washington appellate court has upheld a document-recording surcharge implemented statewide in 2021, the proceeds of which fund housing and homelessness initiatives, overriding a trade group's arguments that ... (more story)

NY Acting Tax Head Says Flow-Through Entity Regs Next

The New York state tax department's focus will shift to sourcing for flow-through entities now that regulations implementing the state's 2015 corporate tax overhaul have been adopted, the department's acting c... (more story)

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.

International More

HMRC Uncovers Complex Offshore Tax Avoidance Scheme

The U.K. tax authority said Thursday that it had exposed a complex tax avoidance scheme operating through a Singapore-based company.

Disclosure Law Holds Up Under Scrutiny, ECJ Adviser Says

A European Union law that requires tax advisers to disclose some cross-border arrangements does not violate the principles of European Union law, an adviser to Europe's highest court said on Thursday.

G20 To Talk Global Minimum Wealth Tax At Brazil's Behest

The Group of 20 nations' finance ministers and central bank governors will hear proposals for a global minimum tax on wealth Thursday, Brazil's finance minister said Wednesday while expressing support for the ... (more story)

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)

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)

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.