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Italian Police Freeze €12.3M In Textile VAT Fraud Investigation

by usoftax_admin | Oct 11, 2024 | Tax News

The Italian Financial Police carried out two freezing orders totaling €12.3 million ($13.5 million) against suspects in an ongoing investigation into a value-added tax fraud involving the illegal importation of textiles from China, the European Public...

Bird & Bird Adds DLA Piper Legal Director To London Office

by usoftax_admin | Oct 11, 2024 | Tax News

Bird & Bird LLP has added a former DLA Piper legal director as a partner to its London tax team. 

Disputes May Loom Over Dividend Deductions For CFCs

by usoftax_admin | Oct 11, 2024 | Tax News

U.S. multinational corporations are concerned that rulemakers’ interpretation of a law allowing tax-free repatriation of certain overseas earnings could lead to controversy after the Internal Revenue Service published a memo indicating the break is unavailable...

Bank Info Fair Game In Crypto Exec’s Appeal, Gov’t Says

by usoftax_admin | Oct 11, 2024 | Tax News

A cryptocurrency executive charged in a 2020 bitcoin fraud investigation can’t stop the IRS from using the financial information it gathered through summonses while he appeals the demands in the Fifth Circuit, the U.S. government told a Texas federal...

5 Mos. Jail Enough For Swiss Tax Expert In $60M IRS Scam

by usoftax_admin | Oct 11, 2024 | Tax News

A Manhattan federal judge on Friday allowed a former financial executive from Switzerland to avoid additional time behind bars for his role in building a complex tax fraud scheme that helped wealthy Americans hide $60 million from the IRS.

Taxation With Representation: Davis Polk, Latham, Kirkland

by usoftax_admin | Oct 11, 2024 | Tax News

In this week’s Taxation With Representation, Rio Tinto agrees to acquire Arcadium Lithium for roughly $6.7 billion, Ares Management Corp. and GCP International reach a $3.7 billion deal, and Butterfly Equity announces plans to buy The Duckhorn Portfolio for $2...
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