
Justices Struggle To Grasp IRS Determination To Collect Debt
U.S. Supreme Court justices struggled Tuesday to understand the significance of an IRS determination that compelled a woman to continue litigating a 2010 tax debt that the agency zeroed out while her suit in Tax Court was pending over the determination that she still owed taxes.

Minnesota Senate Panel Backs Tax On University Endowments
Minnesota would tax the growth of the endowments of higher education institutions, potentially netting more than $100 million annually in revenue, with the funds dedicated to student scholarships, under legislation advanced Tuesday by a Senate panel.

Vance Says US, India Finalized Guidelines For Trade Talks
Indian Prime Minister Narendra Modi and U.S. Vice President JD Vance have finalized the terms of reference for trade negotiations aimed at doubling bilateral trade by 2030, Vance said Tuesday.
Federal More
A Connecticut couple must pay $2.9 million in tax liabilities, the Second Circuit affirmed Tuesday, saying they failed to address a lower court finding that they introduced evidence challenging their debt too late.
The Montana Farmers Union wants to be included in a suit filed by members of the Blackfeet Nation challenging President Trump's tariffs on imports from Canada and abroad, arguing that the duties under scrutiny... (more story)
The Federal Claims Court tossed an investor's suit accusing the U.S. government of wrongly blocking him from gaining access to his shares held by a Russian-owned bank amid the country's invasion of Ukraine, sa... (more story)
A group of churches and Christian advocacy groups asked a Texas federal court Monday to find that a provision of the Internal Revenue Code that prevents tax-exempt nonprofits from endorsing political candidate... (more story)
Harvard University on Monday hit the Trump administration with a suit in Massachusetts federal court, escalating a high-profile battle after the government slashed more than $2 billion in funding amid allegati... (more story)
The U.S. government urged the Fourth Circuit to pause a challenge brought by community associations against an information disclosure law aimed at small businesses, arguing that the U.S. Treasury Department's ... (more story)
As businesses face shifting regulatory and technological uncertainty, general counsel will need to strengthen certain soft skills to succeed, from admitting when they make a mistake to maintaining a healthy do... (more story)
State & Local More
St. Louis Revenue Collector's Tax Assessment Rejected
St. Louis' revenue collector erred in assessing additional earnings tax on a woman's income from various limited partnerships because the income wasn't earned, the Missouri Appeals Court affirmed Tuesday.
CPAs Seek Clarity On NJ's Proposed Tax Rule For Dividends
A CPA organization asked New Jersey's tax agency to clarify whether a provision in the state's proposed corporate tax regulations that involve dividends and deemed dividends is designed to subject certain earn... (more story)
NJ AG Pushes To Revive RICO Case Against Power Broker
New Jersey urged a state appellate court to revive its sprawling racketeering indictment against Garden State power broker George E. Norcross III, politically connected attorneys and others, arguing that the t... (more story)
Texas Mulls Sales Tax Exemption For Payment Services
Texas would amend its sales and use tax regime to exclude payment services provided by marketplace providers from the state's definition of taxable data processing services under a bill being considered by the... (more story)
Mich. Plastic Co. Can Apportion City Income, Tribunal Says
A plastic manufacturing company in Michigan can apportion its city income tax liabilities because it has an employee in another municipality and made all its sales outside the city where it's located, the stat... (more story)
Marketers Knock NJ Plan To Adopt MTC Web Activity Rules
New Jersey's proposal to adopt portions of the Multistate Tax Commission's guidelines regarding the taxation of internet activities that fall outside a federal law limiting tax on income would be unlawful, a l... (more story)
Colo. House OKs High-Earner Tax Hike For Meals Plan
Colorado voters would decide whether to boost taxes on high earners to support the state's universal school meals program, and whether to let the state keep excess revenue already collected, under legislation ... (more story)
Supreme Court Won't Hear Neb. Tribe's Tobacco Sales Dispute
The U.S. Supreme Court won't hear two Nebraska tribal companies' bid to undo an Eighth Circuit ruling that held the state can regulate a tribally owned manufacturer's sales of cigarettes to Indigenous-owned di... (more story)
Ore. Realtors Urge Panel To Reject Fees On Vacant Homes
Proposed legislation to allow local governments to impose fees on certain vacant homes would violate fundamental principles of property rights, Oregon Realtors told a state Senate panel.
St. Louis' revenue collector erred in assessing additional earnings tax on a woman's income from various limited partnerships because the income wasn't earned, the Missouri Appeals Court affirmed Tuesday.
A CPA organization asked New Jersey's tax agency to clarify whether a provision in the state's proposed corporate tax regulations that involve dividends and deemed dividends is designed to subject certain earn... (more story)
New Jersey urged a state appellate court to revive its sprawling racketeering indictment against Garden State power broker George E. Norcross III, politically connected attorneys and others, arguing that the t... (more story)
Texas would amend its sales and use tax regime to exclude payment services provided by marketplace providers from the state's definition of taxable data processing services under a bill being considered by the... (more story)
A plastic manufacturing company in Michigan can apportion its city income tax liabilities because it has an employee in another municipality and made all its sales outside the city where it's located, the stat... (more story)
New Jersey's proposal to adopt portions of the Multistate Tax Commission's guidelines regarding the taxation of internet activities that fall outside a federal law limiting tax on income would be unlawful, a l... (more story)
Colorado voters would decide whether to boost taxes on high earners to support the state's universal school meals program, and whether to let the state keep excess revenue already collected, under legislation ... (more story)
The U.S. Supreme Court won't hear two Nebraska tribal companies' bid to undo an Eighth Circuit ruling that held the state can regulate a tribally owned manufacturer's sales of cigarettes to Indigenous-owned di... (more story)
Proposed legislation to allow local governments to impose fees on certain vacant homes would violate fundamental principles of property rights, Oregon Realtors told a state Senate panel.
International More
Billabong Founder Loses Appeal Of AU$50M Tax Bill
A Federal Court of Australia panel on Tuesday largely upheld a judge's ruling that put the founder of surf brand Billabong on the hook for AU$50 million ($32 million) in taxes stemming from the sale of a startup company.
HMRC Tax Investigations Of Large Cos. Drag On, Report Says
HM Revenue & Customs investigations into the tax arrangements of large businesses take almost four years on average, according to research published by a law firm.
An Unrestrained, Bright-Eyed View Of Legal AI's Future
Todd Itami at Covington offers a bright-eyed, laughing-all-the-way, skydive look at what the legal industry could look like after an artificial intelligence revolution, which he believes may happen much sooner... (more story)
Swiss-Italian Man Seeks To Block IRS Getting Data From Apple
A Swiss-Italian man is seeking to quash an IRS summons on Apple Inc. to produce records linked to his account as part of a probe into his Swiss income tax liabilities, according to a petition filed in Californ... (more story)
Taxation With Representation: Davis Polk, Simpson Thacher
In this week's Taxation With Representation, Global Payments Inc. buys Worldpay from GTCR and FIS, Intel Corp. sells a stake in its Altera business to Silver Lake, KKR acquires OSTTRA from S&P Global and CME G... (more story)
Dutch Cancel Planned VAT Hike Amid Budget Revisions
The Netherlands is no longer planning to increase value-added taxes on sports, culture and media, the Dutch Finance Ministry announced Friday.
Tracking The Evolution In Litigation Finance
Despite continued innovation, litigation finance remains an immature market with borrowers recieving significantly different terms as lenders learn to value cases, which firms need a strong handle on to ensure... (more story)
A Federal Court of Australia panel on Tuesday largely upheld a judge's ruling that put the founder of surf brand Billabong on the hook for AU$50 million ($32 million) in taxes stemming from the sale of a startup company.
HM Revenue & Customs investigations into the tax arrangements of large businesses take almost four years on average, according to research published by a law firm.
Todd Itami at Covington offers a bright-eyed, laughing-all-the-way, skydive look at what the legal industry could look like after an artificial intelligence revolution, which he believes may happen much sooner... (more story)
A Swiss-Italian man is seeking to quash an IRS summons on Apple Inc. to produce records linked to his account as part of a probe into his Swiss income tax liabilities, according to a petition filed in Californ... (more story)
In this week's Taxation With Representation, Global Payments Inc. buys Worldpay from GTCR and FIS, Intel Corp. sells a stake in its Altera business to Silver Lake, KKR acquires OSTTRA from S&P Global and CME G... (more story)
The Netherlands is no longer planning to increase value-added taxes on sports, culture and media, the Dutch Finance Ministry announced Friday.
Despite continued innovation, litigation finance remains an immature market with borrowers recieving significantly different terms as lenders learn to value cases, which firms need a strong handle on to ensure... (more story)