Featured Stories

Ill. Seller Sourcing Fix Adds Fuel To Constitutional Complaints

A bill before Illinois Gov. J.B. Pritzker is being touted as a legislative fix to a contentious state law requirin... (more story)

International Tax Policy To Watch In The 2nd Half Of 2024

An abundance of loose threads pervades the international tax landscape as the first year of the global minimum tax... (more story)

State Of 2024 Energy Dealmaking: Midyear Report

Energy dealmaking in the first half of 2024 has, in many ways, picked up where 2023 left off, but companies also i... (more story)

Federal More

Partnership Protests IRS' Reasons For $84M Deduction Denial

The Internal Revenue Service wrongly denied a partnership's charitable contribution deduction of nearly $84 million for a donated conservation easement for reasons including the partnership failing to demonstr... (more story)

Attorney Denied Separate Trial In $2.1B Danish Tax Fraud

An attorney facing trial alongside his clients for alleged ties to a $2.1 billion Danish tax fraud has been denied a separate hearing by a New York federal court, which remained unconvinced that his co-workers... (more story)

Taxation With Representation: A&O Shearman, Gibson Dunn

In this week's Taxation With Representation, Cleveland-Cliffs Inc. buys Stelco Holdings Inc., KBR acquires LinQuest Corp., Blue Owl Capital Inc. purchases Atalaya Capital Management LP, and Amphenol Corp. buys... (more story)

Chippewa Lawyer Not Exempt From Taxes, 8th Circ. Says

The Eighth Circuit said Friday that an attorney who belongs to the Minnesota Chippewa Tribe is not exempt from federal taxes on his self-employment income, saying no treaty or statute specifically allows Nativ... (more story)

Hunter Biden Wants Charges Tossed After Trump Docs Ruling

Hunter Biden on Thursday asked federal judges in Delaware and California to throw out his conviction on felony gun charges and to toss other charges of tax evasion, citing a Florida federal judge's order disqu... (more story)

Treasury Starting To Address Amount B, Official Says

The U.S. Department of the Treasury is just starting to decide how to handle a transfer pricing regime under a prong of the OECD-led global tax overhaul, a Treasury official said Thursday.

Bank Exec's Tax Tip Case Wrongly Axed, Estate Tells DC Circ.

The estate of a Dutch bank executive asked the D.C. Circuit to overturn a U.S. Tax Court decision denying him a whistleblower award for reporting on tax avoidance schemes, saying the lower court improperly rel... (more story)

State & Local More

Miss. Justices To Weigh Pipeline's Tax Bill On 3rd-Party Fees

The Mississippi Supreme Court agreed to hear the state tax agency's appeal of a trial court's ruling that negated a use tax assessment on third-party freight charges a pipeline company paid, opting to decide t... (more story)

Neb. Gov. Unveils Plan For Property Tax Cuts

Nebraska's governor on Thursday revealed a plan to cut property taxes ahead of a special session of the state Legislature, proposing a hard cap on property tax increases and the elimination of over a hundred s... (more story)

Ex-Venable Trusts And Estates Partner Joins Stradling In LA

Stradling Yocca Carlson & Rauth PC announced that it launched a trusts and estates practice with the hiring of an experienced Los Angeles-based partner from Venable LLP.

Rising Star: Latham's Eric Kamerman

Eric Kamerman of Latham & Watkins LLP in recent years handled the tax aspects of several multibillion-dollar acquisitions of powerhouses in British soccer and American fashion, earning him recognition as one o... (more story)

Dividends Wrongly Included, Water Utility Tells NJ Tax Court

A water services company operating in New Jersey told the state's tax court that the Division of Taxation erred in denying its attempt to exclude $25 million in intercompany dividends for tax years 2017 and 20... (more story)

Disney To Join IBM's Bid To Bring NY Tax Fight To Justices

The Walt Disney Co. joined IBM in asking the U.S. Supreme Court for more time to file a petition for review of a New York high court decision that upheld tax on royalties received from foreign affiliates.

Connell Foley Adds Wilson Elser Tax Pro In Group Upgrade

Connell Foley LLP strengthened its tax and estate team this week with the promotion of several attorneys up to partner and the addition of a mergers and acquisitions and corporate restructuring tax expert prev... (more story)

The Tax Angle: Child Care, Medical Debt, Small Biz Relief

As talks take place on Capitol Hill over the impact the expiration of the Tax Cuts and Jobs Act will have on small businesses and child care, here's a peek into a reporter's notebook on a few developing tax stories.

Wayfair, Colo. City Agree To Dismiss Sales Tax Suit

Wayfair and a Colorado city have agreed to end a suit by the home furnishings retailer over past sales taxes, stipulating a dismissal of all claims between the parties in state district court.

International More

Gov't Floats Draft Proposal For OBR 'Fiscal Lock' Powers

HM Treasury proposals for a new "fiscal lock" in a draft Budget Responsibility Bill will allow the Office for Budget Responsibility to scrutinize any tax-and-spend decisions with a cost factor of 1% of gross d... (more story)

Tax Pros Say Gov'ts Stretching 'Realistic Alternative' Analysis

Tax authorities including the Internal Revenue Service are overstepping in their use of "realistic alternative" arguments, substituting their own judgment for that of businesses, transfer pricing specialists said Thursday.

GE Can't Claim Credit For £189M In Double Tax, Court Says

A U.K.-registered subsidiary of General Electric does not qualify for at least £189 million ($245 million) in double tax relief under a U.S.-U.K. treaty because it lacks a U.S. presence akin to a domicile, a L... (more story)

Much Of Pillar 1 Treaty Agreed On, OECD Official Says

Agreement has been reached on the bulk of a multilateral pact to implement new taxing rights that are part of a revamp of the international tax system and on expansions to a part of the taxing rights plan, an ... (more story)

Gov't Views On OECD Risk Guidance Vary, Economists Say

In allocating risk among different components of a business for transfer pricing purposes, analysts need to consider governments' varying interpretations of guidance from the Organization for Economic Cooperat... (more story)

Now More Than Ever, Lawyers Must Exhibit Professionalism

As society becomes increasingly fractured and workplace incivility is on the rise, attorneys must champion professionalism and lead by example, demonstrating how lawyers can respectfully disagree without being... (more story)

Rising Star: Cravath's Kiran Sheffrin

Kiran Sheffrin of Cravath Swaine & Moore LLP has advised companies from Anheuser-Busch InBev to Valvoline on multibillion-dollar deals, including a $50 billion combination resulting in the formation of pharmac... (more story)