Featured Stories

Staffing Hurdles Could Slow Impact Of IRS Audit Boost

The Internal Revenue Service's intended ramping up of enforcement on wealthy people, large corporations and comple... (more story)

A Chronology Of The Hunter Biden Investigation

The story behind President Joe Biden's son Hunter Biden's conviction on federal gun charges started with a gun pur... (more story)

Labour Manifesto Targets Wealthy To Fill Funding Gaps

Labour set out plans in its election manifesto on Thursday to raise a total of more than £8.5 billion ($10.8 billi... (more story)

Federal More

Senate Finance Panel OKs 3 Tax Court Judges, Treasury IG

The Senate Finance Committee overwhelmingly approved Thursday the nominations of three judges for the U.S. Tax Court and a new inspector general for the U.S. Department of the Treasury, a post that has lacked ... (more story)

Easement Deduction Limit Hurts Conservation, 11th Circ. Told

A partnership's tax deduction for its donation of a conservation easement should not be limited to its adjusted basis in the property, the partnership told the Eleventh Circuit in urging it to overturn a U.S. ... (more story)

Senate Budget Chair Seeks End To Carried Interest Tax Break

Lawmakers should end the favorable tax treatment of income from carried interest compared with ordinary earned income, Senate Budget Committee Chairman Sheldon Whitehouse said Wednesday.

Feds Strike Deal Ending $7M FBAR Penalty Cases

The U.S. government agreed to settle a pair of foreign bank account reporting cases in which it had sought a total of $7 million from a former insurance broker and his wife's estate, according to a court order... (more story)

St. Louis Atty Urges Acquittal After Tax Avoidance Conviction

A Missouri attorney who was found guilty of participating in a $4 million tax avoidance scheme alongside her father and a North Carolina insurance agent is looking to wipe out the verdict, arguing there wasn't... (more story)

Treasury Issued Over $1B In Clean Vehicle Tax Credits

The clean vehicle tax credit of up to $7,500 has saved buyers more than $1 billion in total upfront costs since January, the U.S. Treasury Department announced Wednesday, saying the figures represent a major m... (more story)

Litigation Inspiration: Attys Can Be Heroic Like Olympians

Although litigation won’t earn anyone an Olympic medal in Paris this summer, it can be worthy of the same lasting honor if attorneys exercise focused restraint — seeking both their clients’ interests and those... (more story)

State & Local More

NY Court Strikes Housing Tax Break's Labor Dispute Process

A New York state court has undercut a provision in a since-expired affordable housing tax break that enabled a city watchdog to issue judgments against developers who underpaid construction workers, deeming th... (more story)

Calif. Budget Will Likely Have Unexpected Tax Consequences

A temporary suspension of net operating loss deductions and business incentive tax credits, likely to be approved on June 15 as part of California’s next budget, may create unanticipated tax liabilities for bu... (more story)

Precedent Favors Nationwide In Mich. Tax Fight, Judge Says

A Michigan Court of Appeals judge said Tuesday that the state's tax agency was asking the court to turn its back on recent precedent to hold that Nationwide entities couldn't file as a unitary business to shar... (more story)

No Tax Owed On Mailed Ads, Insurer Tells Mich. Appeals Court

Advertisements mailed for a Michigan insurance provider by an out-of-state direct-mail contractor should not incur the state's use tax, the insurer told a state appeals court Tuesday.

Global Combined Reporting Catches States' Eyes, Expert Says

States in the last two years are showing interest in worldwide combined reporting at a level not seen in decades, a tax expert said.

Kostelanetz Partners Talk Benefits Of Atlanta Tax Firm Tie-Up

Kostelanetz LLP partners Bryan Skarlatos and Todd Welty discuss the firm’s recent combination with Atlanta boutique Welty PC.

Lean Into The 'Great Restoration' To Retain Legal Talent

As the “great resignation,” in which employees voluntarily left their jobs in droves, has largely dissipated, legal employers should now work toward the idea of a “great restoration,” adopting strategies to ef... (more story)

Philly Tax Case Could Give Answers On Reach Of Localities

The U.S. Supreme Court, presented with a Philadelphia resident's claim that the city's refusal to credit her Delaware state taxes paid against her city wage tax liabilities discriminated against interstate com... (more story)

Unclaimed Property Group Backs Disney At Mich. High Court

An unclaimed property holder trade organization urged the Michigan Supreme Court to affirm that the state waited too long to demand that Disney and a restaurant company remit unclaimed property, arguing that t... (more story)

International More

EU Eyeing Exchange Rules Linked To Min. Tax, Official Says

The European Union is looking to introduce rules regarding the exchange of information pertaining to the global minimum corporate tax, a top official in the EU's executive branch said Thursday.

Compliance Costs Outweigh Min. Tax Gains, Biz Reps Say

Multinational businesses are concerned that the burden of complying with the 15% global minimum tax outweighs any potential revenue gains associated with the burgeoning system, tax attorneys and a trade associ... (more story)

Tory Tax Cut Plans Raise Questions On Funding Gaps

The prime minister unveiled plans for £17.2 billion ($21.8 billion) in tax cuts at the launch of the Conservative Party's election manifesto on Tuesday, but a headline cut of two percentage points in the payro... (more story)

Sunak Pledges Further Tax Cuts In Election Manifesto

Rishi Sunak said on Tuesday that his Conservative Party would establish a tax system that "rewards work" by slashing a range of levies if it wins the general election, including another cut in the national pay... (more story)

UN Aims To Finish Drafting Tax Convention By Fall 2026

The United Nations should aim to finish a framework convention on international tax cooperation and early protocols that address taxation of the digital economy, cross-border services and high-net-worth indivi... (more story)

Lib Dems Vow To Raise Capital Gains Tax For UK's Wealthiest

The U.K.'s third-largest political party vowed on Monday to raise taxes on the country's wealthiest individuals if it wins the next election, in a bid to raise £5 billion ($6.4 billion) for the National Health Service.

Dentons Adds Pair Of Husch Blackwell Tax Attys

Two South Carolina tax attorneys have joined Dentons' corporate, tax and private client practice as partners after moving from Husch Blackwell LLP, the firm announced on Thursday.