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Supreme Court hears arguments in challenge to Sec. 965 transition tax

by usoftax_admin | Dec 6, 2023 | Tax News

At stake is up to $340 billion in tax revenue in case where couple is challenging tax that they say increased their liability by about $15,000 in 2017.

New York MTA Board Approves Congestion Pricing Tolls

by usoftax_admin | Dec 6, 2023 | Tax News

The board of New York’s Metropolitan Transportation Authority on Wednesday approved new tolls under a controversial first-in-the-nation plan to charge all drivers entering midtown Manhattan a fee ranging from $15 for passenger vehicles to over $24 for...

Breaking Down High Court’s New Code Of Conduct

by usoftax_admin | Dec 6, 2023 | Tax News

The U.S. Supreme Court recently adopted its first-ever code of conduct, and counsel will need to work closely with clients in navigating its provisions, from gift-giving to recusal bids, say Phillip Gordon and Mateo Forero at Holtzman Vogel.

Trump’s NY Gag Appeal Claims Laughable, Judge’s Atty Says

by usoftax_admin | Dec 6, 2023 | Tax News

The New York state trial court that hit Donald Trump with gag orders in his civil fraud case defended those decisions Wednesday in an appellate filing, calling Trump’s alleged free speech injuries “risible” compared to the potential harm to court...

11th Circ. Questions Whether $18M FBAR Penalty Is Excessive

by usoftax_admin | Dec 6, 2023 | Tax News

The Eleventh Circuit questioned Wednesday whether $18 million in tax penalties against a man who failed to report his foreign bank accounts may have breached the U.S. Constitution’s bar on excessive fines, with one judge calling the issue the most serious in the...

Mayer Brown Questions Retroactivity Of Repatriation Regs

by usoftax_admin | Dec 6, 2023 | Tax News

The U.S. Treasury Department’s proposed changes to regulations regarding the repatriation of foreign earnings go too far, particularly in how far back they would retroactively apply, Mayer Brown LLP told the Internal Revenue Service in a letter published...
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