Featured Stories

New Domestic Content Guidance May Boost Energy Credits

The U.S. Treasury Department's new guidance on bonus tax credits for clean energy projects that source domestic-ma... (more story)

Trump's Potential Witness Could Be Defense 'Dynamite'

As Donald Trump's hush money trial in Manhattan nears its end, experts say criminal defense attorney Robert Costel... (more story)

No Relief For Struggling SPACs Under Buyback Tax Proposal

Special-purpose acquisition companies won't get sought-after relief from a new 1% tax on stock buybacks under a re... (more story)

Federal More

Strategic Hiring Was The New Normal For BigLaw In 2023

The 400 largest law firms by headcount in the U.S. grew more slowly in 2023 than in the previous two years, while Kirkland & Ellis LLP surpassed the 3,000-attorney threshold, according to the latest Law360 ranking.

The Law360 400: Tracking The Largest US Law Firms

The legal market expanded more tentatively in 2023 than in previous years amid a slowdown in demand for legal services, especially in transactions, an area that has been sluggish but is expected to quicken in ... (more story)

Ex-IRS Agent, Five Others Sentenced In COVID Fraud Scheme

A former Internal Revenue Service agent, his brother and four other defendants have pled guilty to participating in a scheme that netted more than $3 million in fraudulent COVID-19 pandemic relief loans.

Opportunity Zones Helped Restore Pa. City, House Panel Told

The Tax Cuts and Jobs Act's provisions, especially the law's opportunity zones aimed at boosting economic investment in distressed communities, have been integral in the economic restoration of Erie, Pennsylva... (more story)

IRS Guidance Plan Should Cover Corp. AMT, AICPA Says

The Internal Revenue Service should provide guidance on the definitions and applications of the 15% corporate alternative minimum tax, among other topics, the American Institute of Certified Public Accountants... (more story)

Domino's Franchisee Gets Year In Prison In $2.5M Tax Case

The owner of dozens of Domino's Pizza restaurants was sentenced to a year in prison Monday and ordered to pay $2.5 million to the Internal Revenue Service after having admitted he filed false tax returns, the ... (more story)

Geothermal Energy Has Growing Potential In The US

Bipartisan support for the geothermal industry shows that geothermal energy can be an elegant solution toward global decarbonization efforts because of its small footprint, low supply chain risk, and potential... (more story)

State & Local More

Ex-Conn. Town Atty Sues Over 'False' Ethics Complaint

Former Newington, Connecticut, town attorney Benjamin Ancona Jr. and other former officials took the Hartford-area suburb to state court claiming the town's assessor and others defamed them in and regarding a ... (more story)

Colo. To Impose Fee On Car Rentals To Fund Rail Projects

Colorado will impose a daily fee on vehicle rentals to raise funding for rail and transit infrastructure projects under legislation signed by Democratic Gov. Jared Polis that could be subject to litigation or ... (more story)

Feds Fight Proposed Delay In Hunter Biden's Tax Trial

Hunter Biden shouldn't be allowed to delay his criminal tax trial in California just because his lead attorney says the dates run up against Biden's upcoming trial in Delaware on firearms charges, the special ... (more story)

Home Distillers Tell Feds Ban Fails Under Spirit Of The Law

The Hobby Distillers Association said the federal government is exceeding its constitutional powers and treading on states' rights by banning homemade liquor under its taxing authority, as the group laid out i... (more story)

Fla. Appeals Court Nixes Condo Tax Sale After Address Mix-Up

A Florida state appeals panel authored a split decision ordering a lower district court to reverse a tax deed sale after a property owner in Miami-Dade claimed the county's clerk of court failed to provide not... (more story)

Credit Suisse Can't Reverse $21.3M Biz Loss Denial

Credit Suisse cannot carry forward $21.3 million in business losses from 2015-2017 to its 2018 Michigan tax return, a state appeals court said, letting stand a ruling that the bank miscalculated its business i... (more story)

Ark. High Court Nixes $35M Hotel Tax Bill On Travel Cos.

An Arkansas circuit court erred in finding that online travel companies such as Hotels.com and Expedia were on the hook for $35 million in unpaid hotel taxes, the state's Supreme Court ruled, finding that a de... (more story)

Ohio School Board Can't Appeal Property Value To Court

An Ohio school board is prohibited from appealing a board of revision's valuation of a property that the school board didn't own to a court of common pleas, a state appeals court ruled.

Missouri Bill To Ban St. Louis Teleworker Tax Fails To Pass

A push by Missouri lawmakers to prevent St. Louis from imposing its earnings tax on remote workers stalled Friday for the fourth consecutive year when the state Senate adjourned for the year without giving the... (more story)

International More

I Am An Honest Man, British Trader Tells £1.4B Fraud Trial

Sanjay Shah, a former hedge fund owner who is accused of defrauding Denmark's tax authority out of £1.4 billion ($1.8 billion), told a London court on Tuesday that he is an "honest man" who traded using a legal "loophole."

India's Top Court Says Accounting Body Can Limit Tax Audits

India's regulatory association for accountants has the authority to limit the amount of tax audits performed by an individual accountant to 60, the Supreme Court of India ruled — even as it canceled ongoing di... (more story)

Koch-Tied Group Says Transparency Law Offends Federalism

The Corporate Transparency Act is unconstitutional because it does not regulate interstate commerce yet mandates that state-registered entities disclose personal information, a conservative group affiliated wi... (more story)

Transfer Pricing Deal Needed For Pillar 1, OECD Official Says

It's crucial for countries to agree on transfer pricing policies under an international profit reallocation agreement known as Pillar One as they work toward their end-of-June deadline to sign a related multil... (more story)

Taxation With Representation: Wachtell Lipton, Freshfields

In this week's Taxation with Representation, Nippon Life acquires Corebridge Financial, Crescent Energy buys SilverBow Resources and Uber purchases Foodpanda.

Pillar 1 Faces Hard June Deadline, Ex-Treasury Official Says

An international agreement to reallocate certain corporate profits, known as Pillar One, will likely stall if countries miss their deadline to sign a multilateral treaty by the end of June, a former U.S. Treas... (more story)

Australian Lawmakers OK Tougher Corporate Promoter Rules

Australian lawmakers agreed Thursday to raise maximum penalties on corporations that promote tax avoidance schemes and to introduce a cap on deductions under its petroleum resource rent tax despite concerns fr... (more story)