Trump Says Tariffs Coming For Countries With DSTs
President Donald Trump's administration will impose tariffs on countries with taxes that disproportionately affect American companies, such as digital services taxes, which mainly apply to tech giants, according to a memorandum released late Friday.
The Tax Angle: ABA Midyear Tax Meeting
With a lack of government officials attending the American Bar Association's midyear tax meeting, here's a peek into a reporter's notebook on a few of the week's developing tax stories.
Calif. Sourcing Rules Ready To Drop, But Questions Remain
A key set of market-based sourcing rules for California is finally nearing completion after eight years of work, but significant questions remain as to how they will be administered, including whether they can be applied retroactively.
Trump Says Tariffs Coming For Countries With DSTs
President Donald Trump's administration will impose tariffs on countries with taxes that disproportionately affect American companies, such as digital services taxes, which mainly apply to tech giants, according to a memorandum released late Friday.
The Tax Angle: ABA Midyear Tax Meeting
With a lack of government officials attending the American Bar Association's midyear tax meeting, here's a peek into a reporter's notebook on a few of the week's developing tax stories.
Calif. Sourcing Rules Ready To Drop, But Questions Remain
A key set of market-based sourcing rules for California is finally nearing completion after eight years of work, but significant questions remain as to how they will be administered, including whether they can be applied retroactively.
Federal More
A Florida federal judge sentenced a construction business owner to four years in prison and ordered him to pay millions of dollars in restitution after pleading guilty to fraud-related charges in connection wi... (more story)
An Internal Revenue Service rule targeting digital asset sales and U.S. Commodity Futures Trading Commission guidance on the trading of voluntary carbon credits are among the environmental and financial regula... (more story)
A Tennessee federal judge won't toss a proposed class action claiming that a Chicago green energy outfit and its executives used false promises of extravagant returns to lure investors, but ruled two defendant... (more story)
The telecom industry is again pressing policymakers to make income from federal broadband deployment grants tax-free.
A lobbyist admitted to trying to thwart IRS efforts to collect about $1.3 million in taxes he owed by preventing a real estate agent from widely listing his home and by transferring assets to a family member, ... (more story)
A billionaire's lawsuit against government contractor Booz Allen Hamilton blaming it for the theft of his tax returns in an unprecedented breach by a Booz Allen employee working at the IRS can move forward, a ... (more story)
The U.S. government and an engineer have resolved a dispute over $5.5 million in penalties and interest regarding the nondisclosure of assets in her foreign accounts from 2009 to 2012, according to a judgment ... (more story)
State & Local More
Mich. Pot Cos. Say Grand Rapids' Equity Fees Are Illegal
A group of cannabis companies is suing the city of Grand Rapids in Michigan state court, saying it is illegally charging them millions in fees through its social equity program.
Ohio Board Rejects Dollar Bank's Apportionment Challenge
The Ohio Board of Tax Appeals ruled that it couldn't allow Dollar Bank to obtain a financial institutions tax refund by applying an alternative apportionment method, saying the board lacked jurisdiction to add... (more story)
DLA Piper Tax Attorney Jumps To Vedder Price In Chicago
Vedder Price PC has expanded its Chicago office with the addition of a skilled tax attorney who brings nearly 30 years of experience, most recently with DLA Piper.
Taxation With Representation: Kirkland, V&E, Cravath, Dechert
In this week's Taxation With Representation, Diamondback Energy buys Midland Basin assets from another oil and natural gas company, GTCR closes its second strategic growth fund, Light & Wonder Inc. buys Grover... (more story)
Miss. Senate Panel Advances Cuts To Income, Grocery Taxes
Mississippi would cut its flat individual income tax rate by roughly a percentage point over the next five years and reduce the state grocery tax as part of a state Senate tax plan advanced by the chamber's Fi... (more story)
Fla. Senate Bill Seeks Study On Eliminating Property Taxes
A Republican Florida state senator filed legislation that would require a state agency to study the prospects of eliminating property taxes in exchange for levying additional state and local sales taxes.
NY Vows To Fight Trump's Bid To Kill Congestion Pricing
New York officials vowed to continue implementing congestion pricing after the Trump administration moved to kill the program Wednesday, teeing up an intense legal battle by swiftly launching a counterattack i... (more story)
Wis. Gov. Unveils Budget With Property Tax Freeze Option
Wisconsin's governor unveiled a proposed 2025-2027 budget, including $2 billion in property tax relief, a new tax bracket for income over $1 million and the elimination of income tax on tips.
Pa. Justices Say Sales Tax Isn't Commerce Under State Law
Collecting sales tax is not part of a commercial transaction even if it occurs at the same time as that transaction, according to a Wednesday ruling from the Pennsylvania Supreme Court in a suit accusing Ameri... (more story)
A group of cannabis companies is suing the city of Grand Rapids in Michigan state court, saying it is illegally charging them millions in fees through its social equity program.
The Ohio Board of Tax Appeals ruled that it couldn't allow Dollar Bank to obtain a financial institutions tax refund by applying an alternative apportionment method, saying the board lacked jurisdiction to add... (more story)
Vedder Price PC has expanded its Chicago office with the addition of a skilled tax attorney who brings nearly 30 years of experience, most recently with DLA Piper.
In this week's Taxation With Representation, Diamondback Energy buys Midland Basin assets from another oil and natural gas company, GTCR closes its second strategic growth fund, Light & Wonder Inc. buys Grover... (more story)
Mississippi would cut its flat individual income tax rate by roughly a percentage point over the next five years and reduce the state grocery tax as part of a state Senate tax plan advanced by the chamber's Fi... (more story)
A Republican Florida state senator filed legislation that would require a state agency to study the prospects of eliminating property taxes in exchange for levying additional state and local sales taxes.
New York officials vowed to continue implementing congestion pricing after the Trump administration moved to kill the program Wednesday, teeing up an intense legal battle by swiftly launching a counterattack i... (more story)
Wisconsin's governor unveiled a proposed 2025-2027 budget, including $2 billion in property tax relief, a new tax bracket for income over $1 million and the elimination of income tax on tips.
Collecting sales tax is not part of a commercial transaction even if it occurs at the same time as that transaction, according to a Wednesday ruling from the Pennsylvania Supreme Court in a suit accusing Ameri... (more story)
International More
French 2% Minimum Wealth Tax Advances In Parliament
French households with assets worth more than €100 million ($104.6 million) would be subject to a 2% minimum tax on their net worth annually under a top-up wealth tax proposal approved by the lower house of Fr... (more story)
UK Sticks With Inheritance Tax Changes Amid Higher Revenue
A U.K. budget surplus, reported Friday, indicates that the Labour government shows no sign of compromising with its inheritance tax changes as tax receipts rise despite the implications for middle-class families and farmers.
Bradley Arant Adds Securities, Tax Expert As Partner
Bradley Arant Boult Cummings LLP added a former Burr & Forman LLP partner to the firm's tax group and corporate and securities group in its Birmingham, Alabama, office.
Guinea Fends Off Push To Enforce $22M Telecom Award
A D.C. federal court said it lacked jurisdiction to enforce a $22 million arbitration award against the Republic of Guinea stemming from a system enabling the country to tax international telecommunications tr... (more story)
Bilzin Sumberg Adds Ex-KPMG Tax Pro In Miami
Miami-based Bilzin Sumberg Baena Price & Axelrod LLP announced Thursday that it has hired an experienced tax attorney who previously worked as a managing director with Big 4 accounting firm KPMG as a partner.
Third Of Pension Professionals Uncertain About Gov't Policy
Approximately one in three pension professionals is unclear about the government's priorities for the sector, research by a specialist law firm has suggested, with particular uncertainty over proposals to appl... (more story)
Miller & Chevalier Adds Former IRS Chief Counsel
Miller & Chevalier Chtd. has found a new co-leader for its tax controversy and litigation practice as it brings aboard the former chief counsel of the Internal Revenue Service during President Donald Trump's first term.
French households with assets worth more than €100 million ($104.6 million) would be subject to a 2% minimum tax on their net worth annually under a top-up wealth tax proposal approved by the lower house of Fr... (more story)
A U.K. budget surplus, reported Friday, indicates that the Labour government shows no sign of compromising with its inheritance tax changes as tax receipts rise despite the implications for middle-class families and farmers.
Bradley Arant Boult Cummings LLP added a former Burr & Forman LLP partner to the firm's tax group and corporate and securities group in its Birmingham, Alabama, office.
A D.C. federal court said it lacked jurisdiction to enforce a $22 million arbitration award against the Republic of Guinea stemming from a system enabling the country to tax international telecommunications tr... (more story)
Miami-based Bilzin Sumberg Baena Price & Axelrod LLP announced Thursday that it has hired an experienced tax attorney who previously worked as a managing director with Big 4 accounting firm KPMG as a partner.
Approximately one in three pension professionals is unclear about the government's priorities for the sector, research by a specialist law firm has suggested, with particular uncertainty over proposals to appl... (more story)
Miller & Chevalier Chtd. has found a new co-leader for its tax controversy and litigation practice as it brings aboard the former chief counsel of the Internal Revenue Service during President Donald Trump's first term.