The Fifth Circuit on Monday affirmed a U.S. Tax Court judgment finding a Louisiana attorney liable for more than $600,000 in taxes from 2001, saying the Internal Revenue Service hadn’t abused its discretion in seeking the money.
Swedish makeup company Oriflame Cosmetics SA on Tuesday confirmed that Russian police have searched the company's Moscow offices over a tax investigation launched several years ago.
The U.S. Tax Court ruled Monday that the Internal Revenue Service used too high a value for stock in a family-run company in assessing a $15.3 million penalty on the estate of television magnate Franklin Adell for allegedly underpaying taxes, finding that the estate’s original valuation of the stock was more accurate.
The U.S. Tax Court said Monday that a whistleblower who gave the government information about two Swiss bankers during a tax evasion investigation cannot rely on Internal Revenue Service emails as a determination of his award eligibility because they didn’t provide a concrete answer.
A third Florida judge has now deemed the state's ban on same-sex marriage unconstitutional in a ruling handed down in Broward County on Monday that said Florida must recognize a Vermont civil union and allow it to be dissolved.
The New Jersey Assembly on Monday gave final approval to a referendum that would change the state Constitution to dedicate a growing share of corporate business tax revenue to land preservation, quelling doubts that lawmakers wouldn't act in time for this November's ballot.
Walgreen Co. announced Monday that it has replaced its chief financial officer with a former Kraft Foods Group Inc. executive, as the nation's largest pharmacy chain continues to weigh a merger with Switzerland-based Alliance Boots that would allow it to move its corporate headquarters overseas and slash its U.S. tax bill.
France and Germany have banded together to push for a common European stance urging U.S. regulators and prosecutors to tone down prospective penalties against foreign banks for allegedly aiding tax evasion, violating U.S. sanctions law and other claimed improprieties, according to media reports Monday.
A coupon publisher's Chapter 7 trustee on Monday proposed a settlement agreement with the Michigan Treasury over $667,000 in taxes it paid under protest before it entered bankruptcy.
In a cash-strapped economy, state tax authorities are increasing their audits in an effort to get quick cash, and retailers — particularly small and online-based companies — are getting caught in the crosshairs. Below are four tips to help retailers ward off such audits.
Arizona's attorney general said Wednesday that the state's luxury tax on tobacco products and “smoke-free” laws don't apply to electronic cigarettes, as the devices don't actually contain tobacco leaves or pieces.
Texas tycoon Sam Wyly and the estate of his late brother Charles Wyly Jr. should be penalized up to $750 million for using offshore trusts to secretly trade stocks while evading taxes, a U.S. Securities and Exchange Commission lawyer said Monday at the start of a damages trial.
The Organization for Economic Cooperation and Development wants public comments on how it should collect and analyze data to determine the effectiveness of its base erosion and profit shifting plan, it said Monday.
A proposed sugary drink tax recently introduced in Congress has little hope of being enacted, but with the increasingly insistent debate over health problems linked to sugar-laden beverages and persistent efforts to tax them, experts say it's just a matter of time before such a levy takes hold in the U.S.
The Florida Department of Economic Opportunity asked a Delaware bankruptcy judge Friday to rule that $20 million in tax credits Digital Domain Media Group Inc. applied for aren’t part of the debtor’s estate because the “Titanic” special effects shop never met the conditions for final approval.
The California Court of Appeal on Friday ruled that a San Diego special election to approve a hotel tax measure tied to a convention center project was unconstitutional, finding that the city erred by narrowing the vote to owners and certain lessees of property on which a hotel is located.
Local tax assessors have no right to enter a home in the Town of Cornwall, New York, to assess its value by virtue of the fact that a homeowner challenged their assessment, a state appeals court has ruled, citing Fourth Amendment privacy rights and reversing a lower court's ruling.
The Sixth Circuit on Monday axed a lawsuit claiming Employee Retirement Income Security Act plans are exempt from a Michigan health insurance tax law because the law interferes with plan administration, ruling the tax is a general applicability provision that doesn't specifically burden plans.
A global tax panel of the Organization for Economic Cooperation and Development on Monday released international compliance ratings for 10 countries and territories, finding Mexico was the only one to be fully compliant.
Combining multiple law firms into a Swiss verein structure has become the preferred way for big law firms to become global giants, and industry experts say more firms will go the verein route because it offers a faster, less complex way to grow internationally.