Thursday, November 26, 2020

Featured Stories

Biden Faces Short Timetable On OECD Digital Tax Talks Alex M. Parker

As Joe Biden's team races to staff his administration, ensuring that the U.S. Treasury Department has key decision-makers in place to ... (more story)

SALT Cap Compromise On The Table In Next Congress Maria Koklanaris

While a full repeal of the 2017 tax overhaul's cap on the deduction for state and local taxes remains uncertain under a Biden administ... (more story)

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

Ahead of the long weekend, when Americans are most known for gathering and traveling, Thanksgiving-minded governors laid down more res... (more story)

Federal More

Ex-SCANA CEO Cops To Fraud In Nuke Plant Plans Debacle

Wednesday, November 25, 2020

The former CEO of South Carolina utility company SCANA Corp. pled guilty to federal and state charges of fraud stemming from his role in an alleged plot in which the company misled investors about plans for a ... (more story)

Danish Gov't Fires Back At Bid To Toss $2.1B Tax Fraud Suit

Wednesday, November 25, 2020

Denmark's government urged a Manhattan federal judge not to toss its enhanced $2.1 billion tax refund fraud suit, arguing the claims are timely and that counterclaims should be rejected on the same grounds the... (more story)

Manhattan DA Takes Manafort Case To NY's Highest Court

Wednesday, November 25, 2020

Manhattan District Attorney Cyrus Vance is moving forward with appealing the dismissal of state fraud charges against former Trump campaign chairman Paul Manafort to New York's highest court, after two lower c... (more story)

NY Right To Investigate Trump Consulting Fees For Tax Fraud

Wednesday, November 25, 2020

New York authorities correctly put aside political considerations and took the appropriate first step in any tax fraud investigation by seeking bank and corporate records to investigate potential connections b... (more story)

Intuit Will Ditch Credit Karma Tax Biz To Save $7.1B Deal

Wednesday, November 25, 2020

Intuit will have to sell off Credit Karma's tax business to win the U.S. Department of Justice's blessing for its $7.1 billion acquisition of the credit reporting upstart, the agency revealed Wednesday.

Former Treasury Official Rejoins KPMG's DC Int'l Tax Group

Tuesday, November 24, 2020

A former U.S. Treasury Department official who oversaw the mammoth task of writing guidance for the 2017 tax overhaul's international measures has rejoined KPMG LLP in the firm's Washington, D.C., office, wher... (more story)

Carbon Capture Policy Should Be Aligned For Global Adoption

Tuesday, November 24, 2020

With support from both Republicans and Democrats, carbon capture, utilization and storage technology as a tool for decarbonization may be poised for domestic growth — but the U.S. and the European Union must c... (more story)

State & Local More

False Claims And State Income Taxes: SALT In Review

Wednesday, November 25, 2020

From the District of Columbia's likely inclusion of tax matters in its False Claims Act to a nationwide push against income taxes, RSM US LLP's David Brunori offers his thoughts on the past week's noteworthy s... (more story)

New Conn. House Leader To Push Pot On Ballot If Bills Fail

Wednesday, November 25, 2020

Connecticut's incoming House speaker said Wednesday that he will push for cannabis legalization and taxation next year and that if the votes aren't there, he'll aim to put the question to voters via ballot.

Minn. Gov. To Float COVID-19 Tax Relief In Special Session

Tuesday, November 24, 2020

Minnesota's governor on Tuesday proposed tax credits for food donations as part of a package of novel coronavirus relief options, but said a proposal to forgive sales tax for businesses could present challenges.

NJ Cannabis Strides Highlight Nearby States' Need To Legalize

Tuesday, November 24, 2020

As New Jersey's ballot measure approving adult-use cannabis gives the state a strong head start in the race to legalization, neighboring states Pennsylvania, New York and Connecticut need to move quickly to fo... (more story)

Pa. Retailers Accused Of Wrongly Charging Tax On Masks

Tuesday, November 24, 2020

Several Pennsylvania retailers and big-box stores, including Walmart and Home Depot, wrongly charged sales tax on tax-exempt protective face masks and face coverings, claimed a proposed class action filed in a state court.

Texas Panel Affirms Tax, Fraud Penalty On $4.8M Plane Buy

Monday, November 23, 2020

A Texas appellate court upheld a tax assessment and fraud penalty on a company's purchase of a $4.8 million airplane, finding the corporation presented false information while seeking to qualify for a tax exemption.

Fla. County Can Tax Public Space Leased To Private Tenants

Monday, November 23, 2020

A Florida county property appraiser can tax public property at several airports that the county aviation authority leased to private tenants because the property was not used for an exempt purpose, a state court said.

South Dakota Pot Legalization Fought In Court After Passage

Monday, November 23, 2020

South Dakota's ballot measure broadly legalizing marijuana — which passed with 54% of the vote — is the latest to face a challenge in court after law enforcement officers sued, challenging the measure's validity.

Feds Want Former Chicago Alderman In Prison For Tax Crimes

Monday, November 23, 2020

A former Chicago alderman previously convicted of tax fraud should serve prison time for admitting to dodging taxes on a settlement distribution he illicitly received, the U.S. government told an Illinois federal court.

International More

Dutch Finance Minister Seeks To Ease FATCA Banking Issues

Wednesday, November 25, 2020

The Netherlands' finance minister is looking into whether banks can maintain accounts for individuals with U.S. citizenship if they've urged their customers to comply with the U.S. Foreign Account Tax Complian... (more story)

Response Options For Danish Cum-Ex Interview Targets

Wednesday, November 25, 2020

As the Danish tax authority prepares for the first of a three-part U.K. trial involving cum-ex fraud, U.K. recipients of interview requests from the Danish prosecutorial agency should neither automatically acc... (more story)

Companies Receive Notice To Pay French Digital Tax

Wednesday, November 25, 2020

Companies subject to France's digital services tax have received notice to pay the tax, the government confirmed in a statement Wednesday, a move that could sour relations between France and the United States ... (more story)

Canada Court Says Hands Tied In Bid For Property Tax Rebate

Tuesday, November 24, 2020

An entity formed by an Ontario firefighter who later died can't obtain a rental property rebate because of a late-filed application, the Tax Court of Canada ruled, saying it lacked authority in the matter but ... (more story)

Canadian Tax Court Says Businessman Doesn't Owe $35K

Tuesday, November 24, 2020

A businessman who sold a property in Montreal is not liable for the transaction's CA$45,750 ($35,207) goods and services tax owed by the buyer, the Tax Court of Canada ruled.  

UK Climate Group Tells Activists To Withhold Tax Payments

Tuesday, November 24, 2020

An environmental group has suggested that its activists withhold the payment of tax in protest over the British government's handling of climate change. 

EU Seeks Feedback On Planned Cryptoasset Disclosure Rules

Tuesday, November 24, 2020

The European Commission is seeking feedback from industry stakeholders on rules it plans to unveil in the second half of next year that it hopes will make it harder to use cryptoassets to evade taxes.