Featured Stories

Preserving Enhanced LITC Funding Could Aid Tax System

Lawmakers haven't yet enacted funding levels for low-income taxpayer clinics for 2025, but they could grease the w... (more story)

5 Themes That Could Determine Trump's NY Criminal Trial

With closing arguments set for Tuesday morning in Donald Trump's New York hush money case and deliberations on the... (more story)

Biden's Judicial Impact And What's Left On The Wish List

President Joe Biden secured confirmation of his 200th federal judge Wednesday and has transformed the judiciary by... (more story)

Federal More

Baker McKenzie Grows Tax Practice With Ex-KPMG Adviser

Baker McKenzie announced the hiring of an experienced Chicago-based tax adviser as a principal who most recently spent sixteen and a half years at Big Four accounting firm KPMG.

Presidential Candidate Convicted For $15.5M Tax Fraud

A tax-preparation business owner and 2024 presidential candidate was convicted on 33 counts of tax fraud after being accused of inflating deductions in a scheme federal prosecutors said caused more than $15.5 ... (more story)

Treasury Details Which Tech Would Get Clean Energy Credits

Treasury released proposed rules Wednesday outlining which technologies would qualify for new zero-emission energy tax credits, saying wind, solar and geothermal are among those that would make the cut.

Biz Groups Back BofA In Merger Interest Tax Fight At 4th Circ.

Business groups told the Fourth Circuit on Tuesday that they supported Bank of America in its fight against a North Carolina federal court ruling that found the bank wasn't entitled to net the interest on the ... (more story)

Wisconsin Atty Gets 5½ Years For $2.3M Fraud, Tax Evasion

An attorney licensed in Wisconsin has been sentenced to 5½ years in federal prison and ordered to pay around $2.3 million in restitution for her involvement in multiple fraud schemes, the U.S. Department of Ju... (more story)

Home Care Co. Says It's Owed $1.1M In Pandemic Tax Credits

The IRS has unfairly delayed paying a home healthcare service in Pennsylvania more than $1.1 million in pandemic-era employee retention tax credits while the agency claims to be checking that the business does... (more story)

Proposed Cannabis Reschedule Sidesteps State Law Effects

The U.S. Department of Justice's recent proposal to move cannabis to Schedule III of the Controlled Substances Act provides certain benefits, but its failure to address how the rescheduling would interact with... (more story)

State & Local More

Minn. To Raise Coming Payroll Tax For Family Leave Program

Minnesota will raise the payroll premium for its upcoming family and medical leave program under legislation signed by the governor over the objections of Republican lawmakers who said the package was rushed t... (more story)

Ex-NRA CFO Settles NY AG Suit Before Phase-Two Trial

The National Rifle Association's former chief financial officer has reached a settlement with the New York attorney general's office ahead of the second phase of a trial over claims the group and its executive... (more story)

Pa. Lawmakers Want End To 40% NOL Cap To Attract Biz

A bipartisan group of Pennsylvania lawmakers voiced support Tuesday to ditch the state's 40% cap on net operating loss deductions and either match the federal standard or eliminate the limit altogether.

Tax Lawyer Rejoins Mayer Brown In DC From Latham

Mayer Brown LLP has rehired a tax partner from Latham & Watkins LLP, who joins the firm in Washington, D.C., to continue working with clients to best utilize renewable energy tax credits, the firm announced Tuesday.

How Attys Can Avoid Pitfalls When Withdrawing From A Case

The Trump campaign's recent scuffle over its bid to replace its counsel in a pregnancy retaliation suit offers a chance to remind attorneys that many troubles inherent in withdrawing from a case can be mitigat... (more story)

Shuttered Paper Mill Flouted $12M Incentive Deal, NC AG Says

The state of North Carolina is suing food and beverage packaging company Pactiv Evergreen to recoup $12 million in economic incentives the company allegedly accepted to keep a local mill up and running after i... (more story)

CohnReznick Adds Tax Planning Partner From Mazars

CohnReznick LLP added a top accountant and tax partner from Mazars USA LLP to its roster of tax professionals, the firm announced.

NY Tax Dept. Wrongly Cut CEO's Enterprise Credit, ALJ Says

New York's state tax agency incorrectly used the business allocation percentage of an S corporation to reduce the amount of qualified Empire Zone enterprise tax credits that the company's CEO could claim, an a... (more story)

Taxation With Representation: Davis Polk, Wachtell, Latham

In this week's Taxation With Representation, SouthState Corp. buys Independent Bank Group Inc., CyberArk acquires Venafi, Carlyle clinches its fifth Japanese buyout fund, and AuditBoard Inc. agrees to be bought by Hg Capital.

International More

Colombian Court Affirms Fossil Fuel Tax Break Must Stay

The Constitutional Court of Colombia affirmed its decision to strike down a law denying fossil fuel companies the ability to offset corporate income tax liabilities with deductions for royalty payments despite... (more story)

Lithuania Seeks CJEU Ruling On Gaming Co.'s $1.1M Tax Bill

Lithuanian tax authorities have asked the Court of Justice of the European Union whether the past economic justification for a video game company's structure allows it to avoid €1 million ($1.1 million) in tax... (more story)

Greenberg Traurig Adds Tax Pro From MoFo In London

Greenberg Traurig LLP added to its deep bench of legal talent by recruiting a tax partner from Morrison & Foerster to join the firm's London office and co-chair its tax practice, the firm said.

Labour Party Rules Out Any Additional Tax Rises

The Labour Party on Tuesday ruled out introducing any more tax rises in addition to measures it has already announced in the event it wins the July 4 general election.

G7 Moves Toward Using Frozen Russian Assets For Ukraine

Finance ministers from the Group of Seven countries made progress over the weekend on agreeing how to use profits from frozen and immobilized Russian state assets to support Ukraine's war against Russia, altho... (more story)

Fiji Joins International Framework Against Tax Avoidance

Fiji joined an international group of jurisdictions aiming to stop tax avoidance, the Organization for Economic Cooperation and Development said Monday, adding that the country would participate in the two-pil... (more story)

Court Upholds Limit To Award In Ecopetrol, Texas Co. Dispute

An arbitration tribunal was within its authority to limit the number of years and the amount that a Houston-based oil company had to reimburse Colombia's state-owned entity, Ecopetrol, for the value-added tax ... (more story)