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NYC's Proposed Split From State Tax Regs Sparks Pushback

New York City's plan to have its coming corporate tax overhaul regulations diverge from certain areas in the state... (more story)

FTC Noncompete Ban Raises Stakes For Nonprofit Hospitals

The Federal Trade Commission seems eager to apply its employee noncompete ban to healthcare, with a key target in ... (more story)

Nixing Green Energy Tax Perks Would Be Tough For Trump

Former President Donald Trump has vowed to scrap Democrats' signature 2022 climate law should he get reelected in ... (more story)

Federal More

Senate Chairs Seek Info On Trump Meeting With Oil Cos.

The chairs of the Senate's tax and budget committees said Thursday that they were investigating a meeting with former President Donald Trump and oil and energy companies and a trade association where Trump rep... (more story)

Corp. Tax Rate Should Hold, GOP Former Panel Chair Says

Lawmakers should preserve the Tax Cuts and Jobs Act's nonexpiring provisions, specifically the 21% corporate tax rate, when debating the extension of the law's expiring provisions in 2025, former House Ways an... (more story)

US Drops Appeal Of Citigroup's $183M Tax Award At Fed. Circ.

The federal government agreed to stop fighting a ruling that awarded Citigroup $183 million in tax deductions for liabilities belonging to a failing bank it had acquired during the 1980s savings and loan crisi... (more story)

Ambulance Co. Owner Accused Of $1M Pandemic Loan Fraud

The owner of a California ambulance company who was charged last year with tax evasion and filing false returns has been further accused of fraudulently securing $1 million from federal pandemic relief loan pr... (more story)

Akerman Brings On Kilpatrick Tax Ace In LA

Akerman LLP is boosting its tax team, bringing in a Kilpatrick Townsend & Stockton LLP corporate tax and energy tax credit expert as a partner in its Los Angeles office.

Hunter Biden's Calif. Tax Trial Pushed From June To Sept.

A California federal judge on Wednesday moved Hunter Biden's criminal tax trial from June 20 to September over objections from the government and after Biden's attorney said the upcoming date is too close to h... (more story)

Taxpayers Received $90M In Refunds In Direct Filing Pilot

Taxpayers who used the IRS' Direct File pilot program this year took an average of 20 minutes to file a return and received more than $90 million in refunds, but no decision has been reached on whether to expa... (more story)

State & Local More

Minn. Lawmakers OK Family Leave Payroll Tax Boost

Minnesota would raise the payroll premium for its yet-to-begin paid family and medical leave program under a bill passed by state lawmakers in the final hours of their session.

SC Justices Urged To Review $12.5M Amazon Tax Dispute

South Carolina's highest court should review an appeals court's opinion that Amazon was required to collect and remit sales tax on products sold on its marketplace in 2016 and owes the state $12.5 million in t... (more story)

CohnReznick Adds PwC Partner To International Tax Practice

CohnReznick has a new principal in its international tax practice who previously served as a partner at PwC, the firm announced.

22 States Tell 11th Circ. Corp. Transparency Act Goes Too Far

The federal Corporate Transparency Act unconstitutionally displaces state authority and its enforcement would economically harm states and their residents, attorneys general from 22 states told the Eleventh Ci... (more story)

Tax Assessment: Recapping Georgia's Legislative Session

Jonathan Feldman and Alla Raykin at Eversheds Sutherland examine tax-related changes from Georgia’s General Assembly — such as the governor’s successful push to accelerate income tax cuts — and suggest steps t... (more story)

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 the near future.

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)

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)

International More

White & Case Hires Former A&O Tax Pro In Luxembourg

White & Case LLP announced it has added a tax partner to its Luxembourg office from A&O Shearman who specializes in international and Luxembourg corporate tax law.

New Crypto Reporting Will Require Rigorous Recordkeeping

The release of a form for reporting digital asset transactions is a pivotal moment in the Internal Revenue Service's efforts to track cryptocurrency activities that increases oversight by requiring brokers to ... (more story)

Property Transfer For Tax Break Not Dishonest, UK Court Says

Two liquidated London real estate companies failed to convince the United Kingdom Court of Appeal that their former director behaved dishonestly by transferring their holdings to Jersey trusts for less than ma... (more story)

UK Gov't Calls Elections For July 4 Despite Poor Polls

Prime Minister Rishi Sunak on Wednesday called an early general election to be held on July 4, advancing the electoral timetable even though his Conservative Party lags decisively behind the opposition Labour Party.

Swiss Gov't Adopts Proposals For Tougher AML Laws

Switzerland on Wednesday approved a new anti-money laundering framework that will introduce a register in which companies and other legal entities in the country will have to disclose information on their bene... (more story)

EU's Carbon Border Tax Pushes Others To Follow, Experts Say

The European Union's carbon border tax is pushing many countries outside the bloc to introduce similar systems, government and academic experts said Wednesday.

UK Dependency To Implement Pillar 2 Starting In 2025

The island of Jersey, a U.K. crown dependency, said it would implement the international minimum tax for large corporations known as Pillar Two, with the law taking effect next year.