Tax Court OKs IRS Partnership Procedures In Easement Fight
The IRS properly notified a partnership of tax deficiencies tied to a 2018 conservation easement deduction under the 2015 centralized partnership audit regime, the U.S. Tax Court unanimously ruled Monday, saying the entity failed to prove that agency mistakes had hindered its audit response.
Colo. Justices Nix TABOR Expansion Ballot Plan
A proposed Colorado ballot measure that would potentially subject more fees to voter approval under its Taxpayer's Bill of Rights unlawfully contains more than a single subject, the state Supreme Court found Monday, reversing a state board.
Canadian Funds Can't Block IRS Bank Summons, Court Says
Two Cayman-Canadian investment funds cannot block IRS summonses made on behalf of the Canadian government for daily trading records at a U.S. bank because they failed to show the agency didn't tick the right boxes, a New York federal court said.
Tax Court OKs IRS Partnership Procedures In Easement Fight
The IRS properly notified a partnership of tax deficiencies tied to a 2018 conservation easement deduction under the 2015 centralized partnership audit regime, the U.S. Tax Court unanimously ruled Monday, saying the entity failed to prove that agency mistakes had hindered its audit response.
Colo. Justices Nix TABOR Expansion Ballot Plan
A proposed Colorado ballot measure that would potentially subject more fees to voter approval under its Taxpayer's Bill of Rights unlawfully contains more than a single subject, the state Supreme Court found Monday, reversing a state board.
Canadian Funds Can't Block IRS Bank Summons, Court Says
Two Cayman-Canadian investment funds cannot block IRS summonses made on behalf of the Canadian government for daily trading records at a U.S. bank because they failed to show the agency didn't tick the right boxes, a New York federal court said.
Federal More
Fabletics, the activewear company cofounded by actress Kate Hudson, faces a proposed class action from customers who say the company passed the cost of President Donald Trump's illegal 2025 tariffs onto custom... (more story)
The Second Circuit on Monday revived a $5.5 million contractual dispute against Argentina, ruling that a New York state COVID-19 policy saved some bondholder claims from being time-barred.
TurboTax distributor Intuit Inc. and several of its partners were hit with a proposed class action alleging their process for distributing tax refund advance loans comes with high costs and arbitration clauses... (more story)
The receiver for a Philadelphia company behind the $405 million Par Funding merchant cash advance Ponzi scheme reached a plea deal Monday, where the company pled guilty to conspiracy to commit wire fraud and s... (more story)
In response to a sustained reorientation of U.S. trade policy around national security considerations, businesses reliant on processed critical minerals must closely monitor diplomatic negotiations and the pot... (more story)
To replace tariffs formerly imposed under the International Emergency Economic Powers Act, the administration will rely on a patchwork of statutes, potentially leading to procedural challenges and a complex ta... (more story)
In a significant update, the IRS Revenue Procedure 2026-8 shows that the group exemption program is moving into a new regulatory era involving more uniformity, oversight and compliance obligations, and early a... (more story)
State & Local More
Ohio Updates Conformity To Federal Tax Breaks
Ohio conformed to a host of new federal tax breaks under a bill the governor signed that took immediate effect and will apply to this year's tax season.
Colo. House OKs Fiscal Info Requirement For Ballot Measures
Colorado ballot measures that would increase state expenditures without identifying corresponding revenues to pay for them would be required to explain what government operations would receive reduced funding ... (more story)
Taxation With Representation: Slaughter And May, Kirkland
In this week's Taxation With Representation, British insurer Beazley accepts a cash takeover offer from Zurich Insurance Group, a consortium of investors led by Blackrock's Global Infrastructure Partners and t... (more story)
A Worthy Successor: SALT In Review
From the naming of the Multistate Tax Commission's new executive director to a bidding war for the Chicago Bears, RSM's David Brunori offers his thoughts on noteworthy state and local tax news.
Colo. High-Earner Tax Plans Unlawful, State Justices Told
Proposed Colorado ballot measures that would hike taxes on high earners by creating a graduated income tax and dedicate the increased revenue to specific purposes violate the state constitution, opponents told... (more story)
Ohio Lawmakers OK Updating Conformity To Fed. Tax Code
Ohio would immediately update its conformity to the federal tax code under a bill given final passage Wednesday by the state Senate that would largely follow federal tax breaks enacted last year.
Ariz. Justices OK Manufacturing Tax Break For Launderer
An Arizona company that rents and launders textiles for the healthcare industry qualifies as a manufacturing or processing operation for purposes of a use tax exemption, the state Supreme Court ruled, reversing a lower court.
Ohio conformed to a host of new federal tax breaks under a bill the governor signed that took immediate effect and will apply to this year's tax season.
Colorado ballot measures that would increase state expenditures without identifying corresponding revenues to pay for them would be required to explain what government operations would receive reduced funding ... (more story)
In this week's Taxation With Representation, British insurer Beazley accepts a cash takeover offer from Zurich Insurance Group, a consortium of investors led by Blackrock's Global Infrastructure Partners and t... (more story)
From the naming of the Multistate Tax Commission's new executive director to a bidding war for the Chicago Bears, RSM's David Brunori offers his thoughts on noteworthy state and local tax news.
Proposed Colorado ballot measures that would hike taxes on high earners by creating a graduated income tax and dedicate the increased revenue to specific purposes violate the state constitution, opponents told... (more story)
Ohio would immediately update its conformity to the federal tax code under a bill given final passage Wednesday by the state Senate that would largely follow federal tax breaks enacted last year.
An Arizona company that rents and launders textiles for the healthcare industry qualifies as a manufacturing or processing operation for purposes of a use tax exemption, the state Supreme Court ruled, reversing a lower court.
International More
Mining Co. Weighs Arbitration With Mozambique Tax Authority
An Irish mining company said Monday it's considering international arbitration for a dispute with the Mozambique Tax Authority over the agency's imposition of higher royalties during negotiations on renewing a... (more story)
Omni Bridgeway Gets Green Light To Target Albania Assets
A Washington, D.C., federal judge agreed to let litigation funder Omni Bridgeway seize assets belonging to the Albanian government as it looks to enforce an arbitral award now worth some $13 million that the c... (more story)
Hotel Fund Can't Challenge Tax Method Again, Tribunal Says
A property fund's appeal against the U.K. tax authority's decision to reject its claim to £5.2 million ($6.96 million) in tax relief for the cost of renovating a hotel near London Luton Airport was dismissed b... (more story)
Customs Faces Hurdles In $166B Tariff Refund Order
U.S. Customs and Border Protection no longer needs to immediately refund Trump administration tariffs that were struck down by the U.S. Supreme Court after the U.S. Court of International Trade loosened a prev... (more story)
Italian Police Seize €2M In EU Tax Fraud Probe
Italian police seized almost €2 million ($2.3 million) in assets as part of an investigation into 12 people suspected of claiming European tax credits for fake energy projects, the European Public Prosecutor's... (more story)
Overhauled IRS Microcaptive Rules Pass Muster With Judge
Revamped rules requiring taxpayers to disclose certain microcaptive insurance arrangements to the Internal Revenue Service do not violate the Administrative Procedure Act, a Tennessee federal judge found Thurs... (more story)
Feds Can't Repatriate Trusts In $28M Tax Suit, Court Told
The U.S. government cannot force a Floridian facing a $28 million tax bill to repatriate assets from his trusts because they're governed by Bahamian law and thus the trustee, a Bahamian trust provider, has sol... (more story)
An Irish mining company said Monday it's considering international arbitration for a dispute with the Mozambique Tax Authority over the agency's imposition of higher royalties during negotiations on renewing a... (more story)
A Washington, D.C., federal judge agreed to let litigation funder Omni Bridgeway seize assets belonging to the Albanian government as it looks to enforce an arbitral award now worth some $13 million that the c... (more story)
A property fund's appeal against the U.K. tax authority's decision to reject its claim to £5.2 million ($6.96 million) in tax relief for the cost of renovating a hotel near London Luton Airport was dismissed b... (more story)
U.S. Customs and Border Protection no longer needs to immediately refund Trump administration tariffs that were struck down by the U.S. Supreme Court after the U.S. Court of International Trade loosened a prev... (more story)
Italian police seized almost €2 million ($2.3 million) in assets as part of an investigation into 12 people suspected of claiming European tax credits for fake energy projects, the European Public Prosecutor's... (more story)
Revamped rules requiring taxpayers to disclose certain microcaptive insurance arrangements to the Internal Revenue Service do not violate the Administrative Procedure Act, a Tennessee federal judge found Thurs... (more story)
The U.S. government cannot force a Floridian facing a $28 million tax bill to repatriate assets from his trusts because they're governed by Bahamian law and thus the trustee, a Bahamian trust provider, has sol... (more story)