Tax Law360 provides breaking news and analysis on federal, state, and international tax law, with a focus on business enterprises. Coverage includes high-stakes litigation, government enforcement actions, and auditing issues, as well as related policy developments.
Tax havens blacklisted by the European Union enable only 1 percent of the financial-secrecy services that threaten EU countries, while one-third comes from financial centers within the 28-nation bloc, an advocacy group asserted in a new study.
A Delaware jury took little more than a hour to find Overstock.com guilty of concealing nearly $3 million in abandoned gift card balances from Delaware’s revenue agency, after a six-day whistleblower trial that could lead to a treble damages sanction.
A former oil trader for Chevron facing 20 years in prison for his role in an alleged kickback scheme until making a deal with prosecutors was sentenced by a federal judge in Houston on Friday to three years of probation.
The U.S. Department of the Treasury plans to do away with rules forcing multinational corporations to prove related-party transactions are debt as opposed to equity, but thorough documentation still could prove beneficial in case of an audit.
The Internal Revenue Service’s decision to delay carrying out a new W-4 form was both necessary and positive, tax and payroll professionals told Law360 Friday.