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

Ore. To Adopt IRS' Free E-File Program For 2025 Season

Oregon will participate in the Internal Revenue Service's Direct File free online tax filing program when it returns for the 2025 filing season, the U.S. Department of the Treasury and the IRS announced Tuesday.

Corporate Rate Revenue To Decrease After 2025, CBO Says

Corporate income tax receipts will steadily decrease after 2025 in relation to gross domestic product due to expiration of many of the 2017 tax law's provisions, the Congressional Budget Office said in a repor... (more story)

Navigating New Safe Harbor For Domestic Content Tax Credits

The U.S. Department of the Treasury’s recent notice simplifying domestic content calculations for certain solar, onshore wind and battery storage projects, which directly acknowledges the difficulty for taxpay... (more story)

Former Tax Atty Hid Pension's $22.6M, Tax Court Says

A former attorney who promoted himself as an expert in employee stock ownership plans failed to report nearly $22.6 million in income related to his acquisition of a furniture company's overfunded pension plan... (more story)

Life Insurance Fraudster Deserves Tax Penalties, 7th Circ. Told

The IRS urged the Seventh Circuit to maintain nearly $400,000 in fraud penalties assessed against an Illinois man who pled guilty to falsifying his tax returns as part of a scheme to poison his wife and collec... (more story)

IRS Guidance Doesn't Perceive Spinoff Abuse, Official Says

Recent IRS guidance limiting the corporate spinoffs that revenue officials will approve as tax-free ahead of time was designed to reflect the drafters' current views, rather than suggest perceived abuse of the... (more story)

Firms Must Rethink How They Train New Lawyers In AI Age

As law firms begin to use generative artificial intelligence to complete lower-level legal tasks, they’ll need to consider new ways to train summer associates and early-career attorneys, keeping in mind the fi... (more story)

State & Local More

The 2 Attys Ensnared In A NJ Mogul's Racketeering Rap

New Jersey businessman George E. Norcross III may be the alleged mastermind of a racketeering scheme to reap millions in tax credits on waterfront property in a distressed city, but the explosive indictment al... (more story)

NM Appeals Court Says Co.'s Foreign Dividends Not Taxable

New Mexico's administrative hearing office erred in finding an oil and gas company must pay tax on its foreign dividend income as those subsidiaries aren't considered part of its unitary group, the state appeals court ruled.

La. Tax Chief Backs Digital Goods Tax, Fewer Exemptions

Louisiana's top tax official told a state tax-writing panel Tuesday that eliminating tax exemptions while broadening the sales tax base to include digital goods and services could pay for cutting the state's p... (more story)

Colo., Tax Group Reach Tentative Ageement In Elections Case

A group challenging Colorado reporting laws for ballot measure advocates has tentatively settled its lawsuit, the group and state officials told a federal court.

Kansas Pols Agree On Tax Cuts Ahead Of Special Session

Kansas would reduce its income tax brackets to two and exempt Social Security income from tax under a compromise proposal reached between state House and Senate Republican leaders and Gov. Laura Kelly, announc... (more story)

NJ Power Broker, Firm CEO Brother Accused Of Racketeering

Powerful New Jersey businessman George E. Norcross III and his brother who is the chief executive officer of law firm Parker McCay have been criminally charged alongside others in a scheme to acquire waterfron... (more story)

Think Like A Lawyer: Always Be Closing

When a lawyer presents their case with the right propulsive structure throughout trial, there is little need for further argument after the close of evidence — and in fact, rehashing it all may test jurors’ pa... (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)

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.

International More

EU Commission Tells France, Italy To Lower Budget Deficits

The European Commission told France, Italy and six other European Union countries to rein in their big budget deficits on Wednesday, although their governments can decide themselves on the details of spending ... (more story)

Problems With VAT Law Still Not Resolved, Estonia Says

Estonia said Wednesday that it continues to have concerns about a proposed change to the European Union's value added tax law, which the small northeastern European country said would hurt small businesses.

OECD Tax Plan Is Developing Nations' Best Choice, Prof Says

Developing countries could gain more revenue from the OECD's multilateral plan to tax the digital economy than the U.N. Tax Committee's bilateral alternative because they have small treaty networks, many custo... (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)

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)

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)