IRS Hiring Freeze Prompts Job Placement Aid From Tax Pros
The White House's federal government hiring freeze order, which led the IRS and U.S. Justice Department's tax division to rescind job offers, has tax practitioners launching their own job placement initiatives to assist law students, recent graduates and attorneys.
China Signals Retaliation Following Extra 10% US Tariff
The Chinese government said Friday it will pursue additional "countermeasures" if President Donald Trump's administration follows through on plans to impose an extra 10% tariff on Chinese goods.
Key State And Local Tax Takeaways From February
February saw the near-conclusion of California's long process to amend market-based sourcing regulations for intangibles and a recommendation by a city commission that Philadelphia do away with its business tax, marking a short but newsy month in state and local tax. Here, Law360 presents these and other state and local tax developments to know from the past month.
IRS Hiring Freeze Prompts Job Placement Aid From Tax Pros
The White House's federal government hiring freeze order, which led the IRS and U.S. Justice Department's tax division to rescind job offers, has tax practitioners launching their own job placement initiatives to assist law students, recent graduates and attorneys.
China Signals Retaliation Following Extra 10% US Tariff
The Chinese government said Friday it will pursue additional "countermeasures" if President Donald Trump's administration follows through on plans to impose an extra 10% tariff on Chinese goods.
Key State And Local Tax Takeaways From February
February saw the near-conclusion of California's long process to amend market-based sourcing regulations for intangibles and a recommendation by a city commission that Philadelphia do away with its business tax, marking a short but newsy month in state and local tax. Here, Law360 presents these and other state and local tax developments to know from the past month.
Federal More
A Maryland federal magistrate judge declined Friday to rethink her order upholding an IRS freeze on a Baltimore law firm's bank account over a $1.5 million tax debt, finding the firm failed to cite any case la... (more story)
A cryptocurrency investor who lost his challenge to the Internal Revenue Service's seizure of his account records has asked the U.S. Supreme Court for review, saying the 1976 legal doctrine that sank his case ... (more story)
In a continuation of trends in property and casualty insurance class actions, last quarter insurers struggled with defending the merits and class certification of sales tax and fee suits, and labor depreciatio... (more story)
A Mississippi federal judge denied bond to a financial adviser who admitted promoting an illegal tax shelter involving royalty deductions that caused a $37 million tax loss, according to court documents.
In this week's Taxation With Representation, Blackstone acquires Safe Harbor Marinas, National Grid sells its green subsidiary in the U.S. to Brookfield, Apollo Global Management buys Bridge Investment Group H... (more story)
A California man has agreed to plead guilty to filing false tax returns related to $1.2 million in income he made from selling memorabilia signed by late Marvel Comics writer and publisher Stan Lee.
U.S. District Judge William Alsup on Thursday temporarily blocked the mass firings of probationary federal employees ordered by President Donald Trump's administration, determining that the Office of Personnel... (more story)
State & Local More
Mich. Justices Reject Credit Suisse's NOL Carryforward Bid
The Michigan Supreme Court on Friday denied Credit Suisse's bid to appeal a lower court's decision that barred the bank from straying from the federal method of determining taxable income to carry forward $21.... (more story)
Biz Groups Pan Md. Plan For Corp. Combined Tax Reporting
Combined water's-edge corporate tax reporting in Maryland would hurt the state's economy, destabilize revenue and impose significant burdens on taxpayers and the state, business groups told a legislative panel... (more story)
NY Tribunal Reverses Securities Co.'s Tax Sourcing Win
The New York Tax Appeals Tribunal rejected an investment company's claims that sourcing receipts to locations of institutional intermediaries, such as hedge funds, instead of to investors unconstitutionally di... (more story)
Minn. Justices Send Golf Course Dispute Back To Tax Court
The Minnesota Supreme Court booted a county's property tax fight with the former owner of a golf course back to the state's tax court, saying the lower court's decision to keep the case alive was not a final o... (more story)
Death, Taxes And Relocations: SALT In Review
From a move to phase out Minnesota's estate tax to proposed inducements for relocating to Alabama and West Virginia, RSM's David Brunori offers his thoughts on noteworthy state and local tax news.
Philly Commission Says City Must End Business Tax
Philadelphia, after losing more than 50,000 residents between 2020 and 2023, should eliminate its business income and receipts tax and reduce its wage tax, the city Tax Reform Commission said in a report.
RI House Finance Panel Questions Legality Of Digital Ad Tax
Rhode Island's plan to tax digital advertisement revenue may open the state to legal challenges, members of the state House of Representatives Finance Committee said, expressing concern at the possibility of b... (more story)
Mich. Judge Demands RICO Pattern Details In Foreclosure Suit
A Michigan federal judge on Wednesday pressed attorneys for homeowners to point to specific criminal activities that would help the proposed class establish a pattern of racketeering activity to support their ... (more story)
Religious Group Says NJ Township Using Tax Deal As 'Sword'
A New Jersey township is discriminating against a religious group because the group no longer wants to make payments on a previous tax agreement, the group told a federal district court.
The Michigan Supreme Court on Friday denied Credit Suisse's bid to appeal a lower court's decision that barred the bank from straying from the federal method of determining taxable income to carry forward $21.... (more story)
Combined water's-edge corporate tax reporting in Maryland would hurt the state's economy, destabilize revenue and impose significant burdens on taxpayers and the state, business groups told a legislative panel... (more story)
The New York Tax Appeals Tribunal rejected an investment company's claims that sourcing receipts to locations of institutional intermediaries, such as hedge funds, instead of to investors unconstitutionally di... (more story)
The Minnesota Supreme Court booted a county's property tax fight with the former owner of a golf course back to the state's tax court, saying the lower court's decision to keep the case alive was not a final o... (more story)
From a move to phase out Minnesota's estate tax to proposed inducements for relocating to Alabama and West Virginia, RSM's David Brunori offers his thoughts on noteworthy state and local tax news.
Philadelphia, after losing more than 50,000 residents between 2020 and 2023, should eliminate its business income and receipts tax and reduce its wage tax, the city Tax Reform Commission said in a report.
Rhode Island's plan to tax digital advertisement revenue may open the state to legal challenges, members of the state House of Representatives Finance Committee said, expressing concern at the possibility of b... (more story)
A Michigan federal judge on Wednesday pressed attorneys for homeowners to point to specific criminal activities that would help the proposed class establish a pattern of racketeering activity to support their ... (more story)
A New Jersey township is discriminating against a religious group because the group no longer wants to make payments on a previous tax agreement, the group told a federal district court.
International More
Indian Beats Tax Fraud Extradition On Prison Extortion Fears
Sanjay Bhandari will not be extradited to India to face charges of tax evasion and money laundering as a London court ruled Friday that he would be at "a real risk" of inhumane treatment in one of the largest ... (more story)
Poland Can't Exclude Domestic Funds From Tax Break
The Polish government can't offer corporate tax exemptions to investment funds managed outside the country unless it offers the same benefits to domestically managed funds, the European Court of Justice ruled Thursday.
Police Supply Store, Others Ask 5th Circ. To Keep CTA Paused
A Texas police supply store joined with Mississippi libertarians and several other parties asking the Fifth Circuit to keep the Corporate Transparency Act on hold, saying ending the stoppage of that law could ... (more story)
Attorneys Must Act Now To Protect Judicial Independence
Given the Trump administration's recent moves threatening the independence of the judiciary, including efforts to impeach judges who ruled against executive actions, lawyers must protect the rule of law and re... (more story)
Billionaire Claims HMRC Failed To Hold Lawful Tax Inquiry
HM Revenue & Customs failed to lawfully notify the right people in its investigation of tax returns for two partnerships, counsel for a hedge fund billionaire told a London court Wednesday.
Coke's $2.7B Tax Bill Due To 'Bait And Switch,' 11th Circ. Told
Coca-Cola urged the Eleventh Circuit to reverse a U.S. Tax Court decision putting the beverage giant on the hook for $2.7 billion in taxes, arguing the ruling excused the IRS' "blatant bait and switch" regardi... (more story)
Tax Overhaul Designer Named Top Tax Adviser To Treasury
An attorney who worked for Exxon Mobil and helped design the 2017 tax overhaul in President Donald Trump's first term has been appointed to serve as a top tax adviser to Treasury Secretary Scott Bessent, Treas... (more story)
Sanjay Bhandari will not be extradited to India to face charges of tax evasion and money laundering as a London court ruled Friday that he would be at "a real risk" of inhumane treatment in one of the largest ... (more story)
The Polish government can't offer corporate tax exemptions to investment funds managed outside the country unless it offers the same benefits to domestically managed funds, the European Court of Justice ruled Thursday.
A Texas police supply store joined with Mississippi libertarians and several other parties asking the Fifth Circuit to keep the Corporate Transparency Act on hold, saying ending the stoppage of that law could ... (more story)
Given the Trump administration's recent moves threatening the independence of the judiciary, including efforts to impeach judges who ruled against executive actions, lawyers must protect the rule of law and re... (more story)
HM Revenue & Customs failed to lawfully notify the right people in its investigation of tax returns for two partnerships, counsel for a hedge fund billionaire told a London court Wednesday.
Coca-Cola urged the Eleventh Circuit to reverse a U.S. Tax Court decision putting the beverage giant on the hook for $2.7 billion in taxes, arguing the ruling excused the IRS' "blatant bait and switch" regardi... (more story)
An attorney who worked for Exxon Mobil and helped design the 2017 tax overhaul in President Donald Trump's first term has been appointed to serve as a top tax adviser to Treasury Secretary Scott Bessent, Treas... (more story)