Wednesday, June 03, 2020

Featured Stories

Coronavirus Regulations: A State-By-State Week In Review No Photo Available

While the nation's collective consciousness largely shifted this week from the COVID-19 pandemic to rage over the killing of George Fl... (more story)

3 Ways State Audits Are Adapting To The COVID-19 Pandemic Maria Koklanaris

As the COVID-19 pandemic sweeps the world, state tax agencies continue to find ways to perform audits, through remote operations, adde... (more story)

IRS Rules Would Open Doors For Carbon Capture Projects No Photo Available

Proposed IRS rules on the carbon capture tax credit would allow another avenue for businesses to prove they meet the credit's requirem... (more story)

Federal More

White House Lawyer Confirmed As Virus Relief Watchdog

Tuesday, June 02, 2020

The U.S. Senate on Tuesday confirmed a White House lawyer to monitor billions, possibly trillions, in pandemic relief, with just one Democrat joining Republicans to approve the former General Services Administration watchdog.

10th Circ. Affirms Solar Energy Tax Credit Scheme Owes $50M

Tuesday, June 02, 2020

A Tenth Circuit panel affirmed a $50 million disgorgement order Tuesday for a solar energy company to return profits from promoting an abusive tax scheme that leased useless solar lenses to companies so they c... (more story)

Nev. Woman's Estate Can Take $3M FBAR Dispute To Trial

Tuesday, June 02, 2020

The estate of a Nevada woman can go to trial against a $3 million tax bill to show that she didn't willfully avoid submitting foreign bank and financial accounts forms to the Internal Revenue Service, a federal court ruled.

Increasing Donor Incentives Would Help Nonprofits, Sens. Say

Tuesday, June 02, 2020

Increasing the limit on a tax deduction to encourage charitable contributions would help nonprofits as they assist families and front-line workers during the novel coronavirus pandemic, a bipartisan group of U... (more story)

Tax Court Upholds Ore. Developer's $1.5M In Taxes, Penalties

Tuesday, June 02, 2020

An Oregon real estate developer owes the Internal Revenue Service about $1.5 million in taxes and penalties because he can't claim $5 million in losses for transfers of properties he made to liquidation trusts... (more story)

IRS Shutters Some Offices Amid Unrest, Agency Official Says

Tuesday, June 02, 2020

The Internal Revenue Service has closed some offices because of the nationwide protests and civic unrest following the killing of George Floyd by a Minneapolis police officer, an agency deputy commissioner said Tuesday.

Opportunity Zones Could Help In Virus Relief, GOP Sen. Says

Tuesday, June 02, 2020

The opportunity zone program created under the 2017 tax reform law could help the novel coronavirus relief effort by providing an incentive for companies that make personal protective equipment to move to the ... (more story)

State & Local More

NC Panel Affirms $21.4M Value Of Supermarket's Equipment

Tuesday, June 02, 2020

The North Carolina Court of Appeals on Tuesday upheld a $21.4 million combined appraisal of Harris Teeter's equipment at six supermarkets, rejecting the supermarket company's argument that the equipment's valu... (more story)

First Nations Cigarette Co. Fights State Sales Rule At 2nd Circ.

Tuesday, June 02, 2020

A Canadian First Nations-owned cigarette company has urged the Second Circuit to revive its challenge to Connecticut's enforcement of a state tobacco law, saying a reporting provision meant to stem illegal cig... (more story)

Tenn. Excise Tax Upheld On Co.'s $1.4M Malpractice Settlement

Tuesday, June 02, 2020

A Tennessee-based emissions control products company must pay tax on $1.4 million it received in a legal malpractice settlement over improperly filed patents because the proceeds are business earnings subject ... (more story)

Law360's 2020 Tax Authority State & Local Editorial Advisory Board

Tuesday, June 02, 2020

Law360 is pleased to announce the formation of its 2020 Tax Authority State & Local Editorial Advisory Board.

Colo. Lawmakers May Refer Property Tax Law Repeal To Voters

Tuesday, June 02, 2020

Colorado would ask voters to decide on repealing the state constitution's Gallagher Amendment, which caps residential property tax revenues at a certain percentage of the state's property tax base, under a bip... (more story)

Miss. Justices Ax Deduction For Casino Reward Member Gifts

Monday, June 01, 2020

Two casinos operating in Mississippi cannot claim tax deductions for costs of vehicles, electronics and other prizes that were randomly awarded to members of the casinos' rewards program, the state Supreme Court ruled.

NY Lawmakers OK Property Tax Deferral Bill Amid COVID-19

Monday, June 01, 2020

Local taxing jurisdictions in New York could defer scheduled payments or installment payments for property taxes because of the COVID-19 state of emergency, under a bill passed by the state Legislature. 

Ohio Tax Talk: Unemployment Ruling May Offer M&A Savings

Monday, June 01, 2020

The Ohio Supreme Court's recent decision in Delphi Automotive v. Ohio Department of Job and Family Services sets an acquirer-friendly precedent for unemployment tax rates in mergers, acquisitions and reorganiz... (more story)

Ore. Tax Court Rules Trust Property Can Be Included In Estate Tax

Friday, May 29, 2020

The Oregon tax department's inclusion of trust property in an estate does not violate federal due process because the decedent had an exclusive lifetime interest in the property and lived in Oregon, the state'... (more story)

International More

EU Disclosure Rules Lead To Different Readings, Tax Pros Say

Tuesday, June 02, 2020

European Union countries may end up interpreting the bloc's new tax transparency rules in varying ways that could result in authorities reaching different conclusions about the same cross-border arrangements w... (more story)

Law360's 2020 Tax Authority International Editorial Advisory Board

Tuesday, June 02, 2020

Law360 is pleased to announce the formation of its 2020 Tax Authority International Editorial Advisory Board.

Belgium Recoups $97M In Unpaid Tax On Foreign Accounts: Report

Tuesday, June 02, 2020

The Belgian tax authority has recovered €87 million ($97 million) in unpaid tax on foreign bank accounts following the beginning of a crackdown on people declaring lower account balances than they actually hav... (more story)

Zambian Court Affirms Copper Company's $13M Tax Bill

Tuesday, June 02, 2020

A Zambian copper company must pay 240 million kwacha ($13 million) in taxes after the nation's Supreme Court ruled it could not use a report that would have reduced its liability, finding no proof the government requested it.

OECD Still Aiming For Tax Deal This Year, Official Says

Tuesday, June 02, 2020

The Organization for Economic Cooperation and Development remains committed to forging a deal on significant corporate tax reforms by year's end despite the challenges posed by the novel coronavirus pandemic, ... (more story)

Tax Court To Hold Trials Remotely During Fall Session

Monday, June 01, 2020

The U.S. Tax Court said it will conduct remote proceedings during its fall trial calendar session because of the novel coronavirus pandemic and will allow the public to listen to the sessions.

UK To Make Platform Cos. Collect Foreign Sellers' VAT

Monday, June 01, 2020

Britain's tax authority plans to require online platform operators such as Amazon and eBay to collect value-added tax on sales to U.K. customers by third-party sellers in an effort to fight fraud, the agency confirmed Monday.