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Monday, July 23, 2018

Featured Stories

The Many Defenses Of Paul Manafort No Photo Available

Former Trump campaign chairman Paul Manafort, whose trial on a dozen charges of bank and tax fraud is scheduled to begin in Virginia f... (more story)

3 Avenues For Curbing Conservation Easement Tax Abuse Amy Lee Rosen

Lawmakers and the IRS have turned their attention toward scrutinizing conservation easements that generate outsized charitable deducti... (more story)

OECD Tax Chief Slams Efforts For Public Global Tax Reporting No Photo Available

Efforts to bolster tax transparency by forcing companies to publish the tax they pay in particular jurisdictions do more harm than goo... (more story)

Federal More

Transfer Pricing Changes Extend IP ‘Useful Life,’ Panelists Say

Friday, July 20, 2018

Changes to the U.S. transfer pricing statute will result in a longer "useful life" of intellectual property and increase the tax on IP transferred to foreign affiliates, a panel of economists said at... (more story)

7th Circ. Refuses To Revive Suits Against Debt Collectors

Friday, July 20, 2018

An assertion that a tax consequence “may” happen is not the same as a declaration that it “will,” a Seventh Circuit panel has ruled, upholding the dismissals of two individuals' sui... (more story)

Tribe Asks 11th Circ. To Review Tax Ruling's $3.4M Impact

Friday, July 20, 2018

The Miccosukee Tribe of Indians of Florida has asked the Eleventh Circuit to reconsider its position that one of its members should be taxed on funds intended for her husband and children, saying that the ruli... (more story)

9th Circ. Won't Revive Challenge Of Mont. Tax Credit Rule

Friday, July 20, 2018

The Ninth Circuit has affirmed a lower court’s dismissal of a Montana couple’s challenge to a state regulation that denies a state scholarship tax credit program from directing donations to religio... (more story)

Taxation With Representation: Latham, Freshfields, Kirkland

Friday, July 20, 2018

In this week’s Taxation With Representation, Phillips Edison took over a real estate investment trust that it manages in order to create a $6.3 billion business, Linde AG offloaded parts of its business ... (more story)

A Meritless Suit And NJ's Busy Summer: SALT In Review

Friday, July 20, 2018

From the questionable merits and intentions of a suit filed by four states seeking to preserve the full federal deduction for state and local taxes to New Jersey's busy summer of tax changes, Quarles & Brady L... (more story)

Chaos Ahead For Remote Sellers

Friday, July 20, 2018

The U.S. Supreme Court's ruling in South Dakota v. Wayfair Inc. will cause a massive shift of risk onto remote sellers in the form of state audits, litigation in hostile forums, and state False Claims Act and ... (more story)

State & Local More

Laundry Biz Can't Wash Sales Tax Liability, Wis. Panel Says

Friday, July 20, 2018

The Wisconsin Court of Appeals has upheld an $875,543 sales tax assessment against Healthcare Services Group Inc., finding that the company's housekeeping operations were taxable laundry services even thou... (more story)

Calif. Appeals Court OKs LLC Class Action For Tax Refunds

Friday, July 20, 2018

A California appeals court has ruled that limited liability companies claiming refunds from the state Franchise Tax Board for unconstitutional levies can file a class action, reversing a trial court decision d... (more story)

NJ Panel Affirms State Auditor's Tax Assessment On Pizzeria

Friday, July 20, 2018

A New Jersey appeals panel has upheld a state auditor's tax assessment against a pizzeria, affirming a lower court’s determination that the business' records were insufficient to determine the am... (more story)

NH Lawmakers Approve Draft Bill To Mitigate Wayfair Ruling

Thursday, July 19, 2018

New Hampshire’s legislators finalized a draft bill designed to combat the U.S. Supreme Court’s new nexus standard Thursday, potentially setting the stage for a showdown with out-of-state entities s... (more story)

NYC Council OKs Requiring Reports Of Short-Term Host Data

Thursday, July 19, 2018

The New York City Council has approved legislation that would help the city enforce laws banning short-term rentals, requiring companies such as Airbnb that collect booking fees to disclose certain information... (more story)

Ruling OK'ing Philly Soda Tax Tees Up Legislative Fight

Thursday, July 19, 2018

The Pennsylvania Supreme Court’s decision on Wednesday upholding the city of Philadelphia’s controversial tax on sweetened beverages is likely to put renewed pressure on lawmakers to enact legislat... (more story)

Pepper Hamilton Lures Ex-Flaster Greenberg Tax Atty In Philly

Thursday, July 19, 2018

Pepper Hamilton LLP has announced that a Flaster Greenberg PC attorney experienced in tax planning, estate and trust administration, and estate litigation is joining the firm’s tax and estates practice g... (more story)

International More

Colorado Judge Rules That IRS Penalty Cap Is Still Intact

Thursday, July 19, 2018

A Colorado federal judge became the latest to say an old penalty cap for undisclosed offshore accounts was still applicable, citing a Texas federal court’s recent conclusion that the U.S. Congress’... (more story)

Profit-Split No Cure-All For Transfer Pricing Ills, IRS Official Says

Thursday, July 19, 2018

The profit-split method, in which the tax burden of a multinational company’s foreign units is calculated based on the income each contributes to the group, seems simple and straightforward, but applying... (more story)

IRS Official Urges More Detail In Int'l Tax Documentation

Thursday, July 19, 2018

Companies seem to be putting less effort into their transfer pricing documentation in recent years, making it harder for the Internal Revenue Service to rule out cases and focus its examinations, an official w... (more story)

Round 2 Tax Bills Would Further Batter Working Families

Thursday, July 19, 2018

The next round of proposed tax legislation would make permanent certain tax cuts from last year's Tax Cuts and Jobs Act. Like the TCJA itself, it would disproportionately benefit the wealthy, fail to deliver o... (more story)

EU Sues UK Over Tax Breaks On Share Losses, Bad Loans

Thursday, July 19, 2018

Tax relief provided for share disposal and bad loans in the U.K. discriminates against other European Union nations, the European Commission said in an opinion Thursday that was part of a package of legal meas... (more story)

Manafort Can't Kill Evidence Collected In Home Raid

Wednesday, July 18, 2018

A D.C. federal judge Wednesday denied Paul Manafort's request to suppress evidence collected from his home in Alexandria, Virginia, finding that the search warrant was not overly broad and that the feds&rs... (more story)

EU Lawmakers Urge US Help Against Financial Crime, Tax Fraud

Wednesday, July 18, 2018

A group of European Union lawmakers wrapped up a trip to Washington, D.C., on Wednesday, after urging counterparts in Congress and members of the Trump administration not to let the U.S. go it alone in fightin... (more story)