Monday, August 26, 2019

Featured Stories

EU-Wide Aviation Tax Faces Steep Climb Natalie Olivo

Taxes designed to curb pollution from air travel in the European Union would have the most impact on a bloc-wide level, but cross-bord... (more story)

6 Things Attys Hope To See In IRS Cryptocurrency Rules Amy Lee Rosen

The proliferation of cryptocurrency use with limited guidance concerning tax treatment of transactions has had practitioners on edge, ... (more story)

For Lawyer, Chance Powerball Job Leads To New Career Path No Photo Available

In late 2011, real estate land-use lawyer Jason Kurland got lucky. He got connected to a Powerball jackpot winner, and word of mouth e... (more story)

Federal More

2nd Circ. Goes Into Fact-Finding Mode On Trump Subpoenas

Friday, August 23, 2019

The Second Circuit on Friday asked two banks to disclose if they are in possession of Donald Trump's tax returns, as it ponders the legality of demands for the Republican president's banking records by congres... (more story)

Taxation With Representation: Gibson, Kirkland, Latham

Friday, August 23, 2019

In this week’s Taxation With Representation, software company VMware makes a $4.8 billion cybersecurity and technology play, Simply Good Foods shells out $1 billion for Quest Nutrition, and private equity firm... (more story)

Trump To Introduce New Tax Cut Plan, Adviser Says

Thursday, August 22, 2019

President Donald Trump intends to unveil a new plan to cut taxes, with the possibility of it being released during the upcoming campaign cycle, a White House adviser told reporters on Thursday.

Calif. Justices To Hear GOP Suit Over Trump Tax Return Law

Thursday, August 22, 2019

A challenge to California’s new law requiring President Donald Trump and other candidates for the state’s 2020 primary contest to release tax returns before their names can appear on the ballot will be heard b... (more story)

Partnerships Don’t Have To Use Final GILTI Rules, IRS Says

Thursday, August 22, 2019

Partnerships that relied on proposed regulations for determining their global intangible low-taxed income won't have to submit corrected tax information about their partners based on final rules that changed h... (more story)

Former Tax Foundation Exec Joins McDermott's SALT Team

Thursday, August 22, 2019

Joseph Bishop-Henchman, former executive vice president at the conservative-leaning Tax Foundation, will be joining the state and local tax team at McDermott Will & Emery LLP, the law firm announced Thursday.

Rep. Asks Ad Firm To Cede Docs For NRA Tax-Exempt Inquiry

Thursday, August 22, 2019

An Illinois congressman has asked the National Rifle Association's former advertising agency Ackerman McQueen to provide documents to review the NRA’s tax-exempt status following media reports detailing exampl... (more story)

State & Local More

NJ Apportionment Formula Includes Foreign-Derived Income

Friday, August 23, 2019

New Jersey will include net global intangible low-taxed income and foreign-derived intangible income in the apportionment factor used for business income, with the income subject to a new formula that has draw... (more story)

Whistleblowers In Calif. And Nexus In Texas: SALT In Review

Friday, August 23, 2019

From California's latest whistleblower idea to Texas' post-Wayfair proposal, Quarles & Brady LLP's David Brunori offers his thoughts on recent noteworthy state and local tax news.

NJ Appeals Court Upholds Tax Court's Reservoir Valuation

Thursday, August 22, 2019

A group of New Jersey utility companies and Harmony Township were handed losses on Thursday by a state appellate court, which upheld the methodology and deductions used to value a reservoir. 

Parish's Tax Claims 'Outlandish,' Walmart Tells La. Justices

Thursday, August 22, 2019

A Louisiana parish’s arguments that Walmart.com was liable for sales and use tax on third-party products sold through its web platform are “outlandish” and unsupported by Louisiana law, the retail giant has to... (more story)

2nd Time Will Likely Be The Charm For Florida's Wayfair Bill

Thursday, August 22, 2019

It seems likely that, with a more focused understanding of Florida’s long-standing use tax and increased political pressure from in-state businesses to level the playing field, the Florida Legislature will fee... (more story)

MTA Bridges Can't Duck Trimmed Excessive Tolls Suits

Thursday, August 22, 2019

The operator of some of New York City’s major toll bridges and tunnels must face trimmed proposed class claims that it hit motorists with improper fees and excessive penalties from its E-ZPass cashless tolls, ... (more story)

Cooley Adds Veteran Tax Partner In DC From Wilson Sonsini

Wednesday, August 21, 2019

Cooley has added a veteran tax attorney from Wilson Sonsini Goodrich & Rosati PC to its tax practice group, the firm has said.

International More

Leaked EU Document Calls For Speaking With One Voice On Tax

Friday, August 23, 2019

A leaked internal European Union briefing document seen by Law360 Friday sets out the need for the bloc to speak with a single voice to better ensure the OECD tax rules being developed align with its interests.

Barrister Faces £10M Suit Over Bad Film Tax Scheme Advice

Thursday, August 22, 2019

Investors seeking £10 million from a United Kingdom barrister for failing to advise them on the risks of a film-related tax benefits scheme were recently ordered to respond to arguments that the barrister was ... (more story)

Passenger Tax Would Damage Swiss Aviation, Lobby Says

Wednesday, August 21, 2019

A proposed Swiss passenger tax to offset carbon emissions would have a “most damaging” impact on aviation and the economy, an industry lobby group said recently.

IRS Seeks $120M From Californian, Estate In FBAR Case

Tuesday, August 20, 2019

The IRS has sued a Californian and her late husband's estate for a record $119.6 million in penalties over what it says were violations of foreign bank account reporting rules, arguing they used complex busine... (more story)

Game Supplier Should've Seen VAT Red Flags, UK Court Says

Tuesday, August 20, 2019

A British wholesale supplier in the electronic games industry lost its bid for a value-added tax repayment when a U.K. tax tribunal concluded that the company should have known that it was involved in transact... (more story)

Denmark Can't Be Countersued In $2.8B Tax Fight, Court Told

Tuesday, August 20, 2019

A group of U.S. pension plans targeted by the Danish tax authority in a $2.8 billion refund suit cannot countersue the authority for denying tax refund applications, the agency has told a New York federal court.

HMRC Seeks Digital Tool To Help Officers Detect Fraud

Monday, August 19, 2019

HM Revenue & Customs has issued a preliminary request for proposals to gauge potential vendors’ ability to supply a “digital notebook application” that would enable revenue officers in the field to record evid... (more story)