Federal

  • May 24, 2022

    Justices Told Calif. Biz Lacks 'Contacts' Required For Ore. Tax

    A California telecommunications company should not have to pay an Oregon tax because the company doesn't have "economic and virtual contacts" with the state, as called for by the U.S. Supreme Court's Wayfair decision, the company told the justices.

  • May 24, 2022

    Wyden Presses Trump's Ex-Accounting Firm On Tax Returns

    Senate Finance Committee Chairman Ron Wyden pressed former President Donald Trump's erstwhile accounting firm — which has cast doubt on the reliability of reports on his finances — over the accuracy of his business's tax and financial reporting in a letter Tuesday. 

  • May 24, 2022

    Court Urged To Affirm Allotment Of Home Proceeds To Tax Lien

    An Arizona federal court should affirm a bankruptcy court decision allowing for money made on a house sale to apply proportionally to different portions of a tax lien, a bankruptcy trustee said in a filing.

  • May 24, 2022

    White House Says ARPA Tax Credits Lowered Child Poverty Rate

    The enhanced child tax credit passed by Congress as a part of last year's federal coronavirus relief package led to the lowest poverty rate for Black and Hispanic children ever, the White House said in a report released Tuesday.

  • May 24, 2022

    TIGTA Finds Effective Use Of Telework By IRS During Pandemic

    The Internal Revenue Service's use of telework to maintain operations during the pandemic was effective, with the number of employees teleworking peaking at 65,000 in early 2021, the Treasury Inspector General for Tax Administration reported Tuesday.

  • May 24, 2022

    9th Circ. Says Man's Abortion Objection Doesn't Block Tax Case

    An Oregon man's religious objection to potentially funding abortion providers with his tax dollars didn't preclude a case in which he was convicted of failing to file taxes, the Ninth Circuit said.

  • May 24, 2022

    Amazon's Gov't Work Warrants Tax Disclosures, Report Says

    Governments that enter contracts with Amazon should require the company to publish its tax revenue and payments on a per-country basis in exchange for their business, according to a report published Tuesday.

  • May 24, 2022

    Tax Court Affirms Biotech Co.'s $34K In Unreported Income

    A Georgia biotechnology company had unreported income of just under $34,600 for tax years 2009 through 2011, the U.S. Tax Court said in a ruling that sustained the adjustments.

  • May 24, 2022

    OECD's 'Pillar One' Tax Rights Overhaul Delayed Until 2024

    Signing off of the Organization for Economic Cooperation and Development's treaty for so-called Pillar One of the global taxing rights reallocation deal will be delayed until at least November, the body's secretary-general said Tuesday.

  • May 23, 2022

    Fed. Judge Tosses Ariz. Co.'s Challenge To La. Tax System

    A federal judge tossed an Arizona jewelry wholesaler's constitutional challenge to Louisiana's decentralized sales tax system Monday, finding a federal law that defers most state tax challenges to state courts barred it from having jurisdiction over the case.

  • May 23, 2022

    Child Credit Portal Outage Affected 240K People, TIGTA Says

    Around 240,000 people couldn't access the Internal Revenue Service's Child Tax Credit Update Portal due to a system outage that lasted longer than a day in 2021, the Treasury Inspector General for Tax Administration said in a report released Monday.

  • May 23, 2022

    IRS Correctly Calculated Most Recovery Credit Payments

    The IRS correctly calculated the vast majority of tax credits issued under a congressional package of COVID-19 relief, according to a Treasury Inspector General for Tax Administration report released Monday, but did issue inaccurate and erroneous credits in some instances.

  • May 23, 2022

    DC Circ. Urged To Revive Case Against Transition Tax Rules

    An expatriate attorney urged the D.C. Circuit on Monday to revive his challenge to regulations governing the transition tax on foreign earnings, saying the government has avenues to redress his past compliance burdens, giving him standing to bring the case.

  • May 23, 2022

    5th Circ. Won't Reconsider Finding Crude Tax Unconstitutional

    The Fifth Circuit declined Monday to reconsider its decision finding that a fee charged on crude oil exports was an unconstitutional export tax, letting stand a decision that entitled a commodities trader to a $4.5 million refund from the IRS.

  • May 23, 2022

    Utility Group Asks For Bond Use Test Regs In IRS Priority Plan

    The Internal Revenue Service's 2022-23 priority guidance plan should contain changes to rules dealing with private activity tests for certain bonds used by utilities, a nonprofit utility coalition said.

  • May 23, 2022

    IRS Seeks Comments On Form To End PFIC Treatment

    The Internal Revenue Service asked Monday for comments on a form for passive foreign investment company shareholders making certain elections to end that treatment.

  • May 20, 2022

    IRS Issues Revisions To Employee Benefit Plan Filings

    The Internal Revenue Service issued revisions Friday to forms for reporting employee benefit plans beginning in 2022, largely adopting proposed changes to those filings introduced in September.

  • May 20, 2022

    Taxation With Representation: Latham, Cravath, Kirkland

    In this week's Taxation With Representation, the Carlyle Group struck a deal to buy ManTech, SMBC Aviation Capital is buying Goshawk Aviation, and Colgate Energy Partners III plans to combine with Centennial Resource Development through a merger of equals.

  • May 20, 2022

    Trump Pays $110K To NY AG For Not Complying In Biz Probe

    Former President Donald Trump has paid a $110,000 fine for his failure to comply with the New York attorney general's probe into his business practices and filed affidavits ahead of a Friday deadline to keep a court's contempt order lifted.

  • May 20, 2022

    IRS Is Tracking Dispute Talks Under Pillar 1, Official Says

    The Internal Revenue Service is following discussions about how countries may approach disputes about cross-border profit allocations under the so-called first pillar of a global corporate tax overhaul, an agency official said Friday, noting that "we saw this on the horizon."

  • May 20, 2022

    Weekly Internal Revenue Bulletin

    The Internal Revenue Service released its weekly bulletin, which included simplified procedures for certain Puerto Rico residents to claim the child tax credit.

  • May 20, 2022

    IRS Seeks Comments On Excise Tax Reporting Burden

    The Internal Revenue Service asked Friday for comments on the reporting burden for quarterly excise tax returns.

  • May 20, 2022

    Tax Overpayment, Underpayment Interest Rates To Rise In Q3

    The Internal Revenue Service said in a revenue ruling Friday that interest rates for overpayments and underpayments of tax by individuals and corporations will increase in the third quarter of 2022.

  • May 19, 2022

    Judge Cuts 'Unreasonable' Atty Fee Bid In $98M Mattel Deal

    A California federal judge has granted final approval to a $98 million settlement between investors and toymaker Mattel Inc. and PwC, but slashed the requested $24.5 million in attorney fees, saying it was too high.

  • May 19, 2022

    US Says Court Wrongly Allowed Apportioned Tax Lien Funds

    A bankruptcy court wrongly decided funds from a property sale can be applied proportionately to different parts of a tax lien, which could reduce the government's overall take, the U.S. told an Arizona federal court.

Featured Stories

  • Inaction On Retention Credit Risks Nonprofit Staff Cuts

    David van den Berg

    In the face of congressional inaction on legislation to restore the employee retention tax credit for the fourth quarter of 2021, nonprofit organizations could find themselves having to lay off workers or unable to rehire laid off employees.

  • GILTI Sticking Points May Emerge In Global Min. Tax Rules

    Natalie Olivo

    The current language of an international minimum tax agreement may leave room for countries to arrive at their own technical interpretations about how to treat the U.S. measure for global intangible low-taxed income, particularly if Congress doesn't enact key changes.

  • Justices' Pass On Billboard Cases May Help Md. Digital Tax

    Maria Koklanaris

    The U.S. Supreme Court's refusal to review two cases over cities' billboard taxes could shore up Maryland's digital advertising tax, even as the result raises additional questions about whether states can tax advertising without violating the First Amendment.

Expert Analysis

  • Crypto Cos. Should Prep For More IRS John Doe Summonses

    Author Photo

    In anticipation of new reporting requirements that will go into effect in 2024, cryptocurrency exchanges and custodians should inform themselves on the John Doe summons, a unique mechanism that allows the IRS to obtain expansive information about cryptocurrency transactions, say Shivani Poddar and Andrew Heighington at Herrick Feinstein.

  • Employer Travel Benefits Options For Abortion Care Post-Roe

    Author Photo

    Given the likelihood that Roe v. Wade will be overturned, and with the proliferation of state legislation restricting abortion access, employers may want to consider the legal implications of several options to expand travel reimbursement benefits for employees who seek abortion services, say Danita Merlau and Ben Conley at Seyfarth.

  • Global Tax Chiefs Should Look To US Whistleblower Programs

    Author Photo

    As the Joint Chiefs of Global Tax Enforcement develops its international whistleblower program to address tax evasion and money laundering schemes in new areas like cryptocurrency, it should take lessons from highly successful U.S. programs on which features to include and pitfalls to avoid, say Neil Getnick and Nico Gurian at Getnick & Getnick.

  • Crypto Investors May Face Increasing State FCA Tax Liability

    Author Photo

    Cryptocurrency investors who fail to report the state tax consequences of transactions are poised to encounter increased civil or criminal legal exposure as a growing number of states bring tax fraud under the purview of their whistleblower statutes, say attorneys at Brownstein Hyatt.

  • Justices' Boechler Ruling May Spell Tax Exceptionalism's End

    Author Photo

    By basing its decision on cases outside the tax arena, the U.S. Supreme Court treated Boechler v. Commissioner as an administrative law case rather than a tax case and stripped away the traditional lines of tax exceptionalism, says James Creech at Baker Tilly.

  • MORE Act's Possible Impact On State-Licensed Cannabis Cos.

    Author Photo

    The Marijuana Opportunity Reinvestment and Expungement Act, recently passed in the U.S. House of Representatives, would dramatically alter the federal legal landscape for state-licensed cannabis businesses in both positive and negative ways — from opening new marketing avenues to compounding tax burdens, say attorneys at the Law Offices of Omar Figueroa​​​​​​​.

  • 3 Contract Considerations For Renewable Fuels Trade

    Author Photo

    As renewable fuels continue to develop and contracts for their sale and purchase become more common in the energy industry, companies should think about negotiating several key issues when entering into offtake agreements for feedstock purchase transactions, says Nneka Obiokoye at Holland & Knight.

  • What Microcaptive Reporting Ruling May Mean For The IRS

    Author Photo

    In CIC v. Internal Revenue Service, a Tennessee federal court’s decision to set aside an IRS requirement to disclose microcaptive insurance arrangements may be a step toward evidentiary standards to show that the potential for abuse in a lawful transaction is sufficient to support heightened disclosure requirements, says Samuel Lauricia at Weston Hurd.

  • Avoiding Surprise Taxation Of Employment Settlements

    Excerpt from Practical Guidance
    Author Photo

    Sandra Cohen at Cohen & Buckmann discusses how to avoid unwelcome tax-related payments in connection with settling an employment claim, as the extra cost can significantly decrease the perceived value of an offer and push the parties further apart.

  • US Should Leverage Tax Rules To Deter Business With Russia

    Author Photo

    The U.S. should further restrict the flow of resources available for the Putin regime's war in Ukraine by denying U.S. businesses that operate in Russia or Belarus foreign tax credits and global intangible low-taxed income preferences, and by terminating its tax treaty with Russia, says Reuven Avi-Yonah at University of Michigan Law School.

  • Federal Cannabis Bill Needs A Regulatory Plan To Succeed

    Author Photo

    The Marijuana Opportunity Reinvestment and Expungement Act, which was passed by the U.S. House of Representatives on Friday, is laudable but fundamentally flawed because it lacks a robust regulatory plan that would allow for bipartisan support, says Andrew Kline at Perkins Coie.

  • To Capture All Digital Transactions, Tax Rules Must Keep Up

    Author Photo

    Legislative efforts to capture revenue from digital-transaction income can do better than the American Rescue Plan Act, which recently went into effect but employs definitions that have already been surpassed by technology, says Matthew Agramonte at Shutts & Bowen.

  • Lessons From Recent PPP Loan And COVID Fraud Cases

    Author Photo

    Following President Joe Biden's recent pledge to expand enforcement efforts against pandemic and Paycheck Protection Program loan fraud, a look at the U.S. Department of Justice's recent criminal and civil enforcement actions sheds light on its evolving priorities, say Sara Lord and Aaron Danzig at Arnall Golden.