Treasury Clarifies Tax-Advantaged 'Trump Accounts'

By Anna Scott Farrell

The federal government issued guidance Tuesday on the new type of tax-advantaged brokerage account for children, known as Trump accounts, that specifies how to create the savings plans and who can make contributions and receive government seed money for them.

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Chevron Unit Entitled To $80M In Tax Credits, Tax Court Told

By Anna Scott Farrell

A Chevron subsidiary and chemicals supplier that operates internationally is entitled to more than $80 million in tax credits for energy investments and research related to plastics production, the company has told the U.S. Tax Court in challenging denials by the Internal Revenue Service.

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ACA Expansion Lapse May Impede Organ Access, Panel Told

By Asha Glover

Allowing the Affordable Care Act's premium tax credit expansion to lapse would make it harder for Americans to be listed for organ transplants, potentially dampening an upward trend in transplants in the years since the expansion was enacted, a panelist told House lawmakers Tuesday.

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A Close Look At The Evolving Interval Fund Space

Interval funds — closed-end registered investment companies that make periodic repurchase offers — have recently moved to the center of the conversation about retail access to private markets, spurred along by President Donald Trump's August executive order incorporating alternative assets into 401(k) plans and target date strategies, say attorneys at Simpson Thacher.

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Okla. Urges Justices To Turn Down Tribal Tax Case

By Jaqueline McCool

The Oklahoma Supreme Court properly ruled that a member of the Muscogee (Creek) Nation owes Oklahoma income tax, the state's tax commission told the U.S. Supreme Court on Tuesday, urging the court to deny the member's petition for review.

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Vanguard Investors' Attys Seek $8.3M Fee

By Sydney Price

Attorneys representing investors that settled with Vanguard for $25 million to end claims the company improperly triggered an asset sell-off that damaged investors asked a Pennsylvania federal court on Tuesday to award them $8.3 million in fees in addition to other expenses.

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Exec To Admit To $1.6M Scheme Involving Taxes, Restitution

By Julie Manganis

A Massachusetts executive has agreed to plead guilty in a scheme to avoid paying income taxes and restitution in a 2008 securities fraud case by receiving more than $1.6 million in compensation and benefits under the table, federal prosecutors announced.

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