The U.S. Court of Federal Claims held that a taxpayer failed to establish jurisdiction over his federal tax refund claim or plausibly allege entitlement to a refund because his self-created ...

Switzerland will delay by one year the application of OECD guidance restricting the use of certain deferred tax assets in effective tax rate calculations under global minimum tax rules, the federal ...

The IRS issued final regulations clarifying the treatment of certain liabilities assumed in I.R.C. §351 exchanges between members of a consolidated group for purposes of determining stock basis under ...

The IRS issued a notice on updated interest rates used to determine pension plan funding obligations and benefit values. The guidance provides the corporate bond monthly yield curve and minimum ...

Chicago Mayor Brandon Johnson’s budget for next year includes a renewed push for a per-employee head tax on businesses and a request to sell millions in bonds to pay down settlements and judgments for ...

The Trump administration announced $8 billion in aid for farmers to help offset rising fuel costs, a major burden for growers during the harvest.

The U.S. Court of Federal Claims held that a taxpayer could not pursue its refund claim because it failed to file an administrative refund claim after paying the disputed tax ...

The IRS and Treasury Department are partially withdrawing proposed anti-abuse rules for a controlled corporation’s distribution of stock or securities.

Vivek Ratnam joined Sullivan & Cromwell as a partner in its tax group in New York, the firm announced Tuesday. Ratnam advises clients on the federal income tax consequences of complex business ...

A professional basketball player who played in Japan sued the IRS in US Tax Court, contesting the agency’s rejection of more than $1.28 million in foreign tax credits he claimed on his 2020 and 2021 ...

The IRS successfully implemented four of President Donald Trump’s flagship tax benefits from the 2025 tax-and-spending law, the watchdog said, though compliance concerns remain.

The IRS has published a private letter ruling on I.R.C. §170 addressing contribution deductibility and determining that donors cannot deduct donations and contributions to the taxpayer. The taxpayer ...