Featured Stories

Pa. Supreme Court Snapshot: Judge's Side Gig Vexes Tax Row

In its first argument session of 2024, the Supreme Court of Pennsylvania will once again have seven justices on th... (more story)

Easement Cases To Put IRS-Hired Appraisers Under Scrutiny

Some partnerships challenging the denial of tax deductions for conservation easement donations are mounting a new ... (more story)

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)

Federal More

Demystifying IRS' Claims Of $851B Return On Investment

The IRS' recently released analysis, estimating a $851 billion return on the government’s $80 billion investment in the agency, represents a huge increase over its 2022 estimate and that of the Congressional B... (more story)

IRS Turning To Experts, AI For Complex Returns, Werfel Says

The Internal Revenue Service is using a blend of newly hired subject-matter experts and artificial intelligence technology to increase scrutiny of complex tax returns filed by wealthy corporations and individu... (more story)

Tax Break Bill Could Still Pass After Tax Season, Aide Says

If Senate lawmakers haven't voted on the bipartisan House-passed tax bill by the end of the 2024 tax filing season, that doesn't necessarily mean the bill won't get to President Joe Biden's desk this year, an ... (more story)

Exec's Captive Insurance Case Headed To Trial

Whether an insurance executive knowingly lied to clients by telling them they could take illegal tax deductions in connection with captive insurance arrangements should be decided by a jury, a Florida federal ... (more story)

Commission Eyes Sweeping Changes To US Olympic Model

An independent commission called for an overhaul of the U.S. Olympic system Friday, rebuking leaders for failing to keep athletes safe from sexual abuse and calling on Congress to take a more active role in ad... (more story)

How Firms Can Ensure Associate Gender Parity Lasts

Among associates, women now outnumber men for the first time, but progress toward gender equality at the top of the legal profession remains glacially slow, and firms must implement time-tested solutions to en... (more story)

House Tax Panel To Prep Members On OECD Pillar 1

Neither Republicans nor Democrats on the House Ways and Means Committee have opined much about the OECD profit reallocation plan known as Pillar One, but they will gain valuable information during an upcoming ... (more story)

State & Local More

Court Urged To Act Quickly On Dispute Over Ariz. Tax Rebates

Arizona taxpayers will suffer irreparable harm if the state's lawsuit against federal taxation of Arizona tax rebates is not heard during the current tax filing season, the state told a federal court.

Taxation With Representation: Pillsbury, Cleary Gottlieb

In this week's Taxation with Representation, First Advantage Corp. acquires Sterling Check Corp., International Game Technology spins off two subsidiaries, Disney merges its media operations in India with Reli... (more story)

Verizon's Fla. Tax Deductions Expired, Appeals Court Rules

Verizon is barred from claiming tax deductions in Florida from net operating losses on businesses it acquired more than 20 years ago, and federal tax mitigation provisions that could allow the company to sides... (more story)

Local Gov't Reps Urge Mass. Lawmakers To Raise Tax Ceilings

Massachusetts cities and towns should have the option of boosting their taxes on meals and lodging and imposing a new vehicle surtax, representatives of local jurisdictions told a state legislative panel Thurs... (more story)

NY Shouldn't Pair 421-a Restoration And Good Cause Eviction

The good cause eviction system of rent control should not be imposed in New York, nor should its legislation be tied to renewal of the 421-a tax abatement program, which New York City desperately needs, says A... (more story)

NC Says Court Blocked From Philip Morris Franchise Tax Row

The North Carolina Department of Revenue is urging the state Supreme Court to uphold a loss for Philip Morris in the agency's fight to fetch more than $300,000 in franchise tax from the tobacco giant, arguing ... (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)

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)

International More

Global Wealth Tax Plan Could Mirror Pillar 2, G20 Told

A global minimum wealth tax featuring a top-up tax and enforcement system similar to the global minimum tax on corporations would reduce the ability of very wealthy individuals to avoid the measure by relocati... (more story)

Biz Owner's $2.4M FBAR Dispute Paused For Mediation

The U.S. government and a retired plumbing business owner mutually agreed to a 90-day stay of their $2.4 million tax dispute over foreign bank account reporting while they try to mediate a solution, a Georgia ... (more story)

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.

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)

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)