|
Taxpayers prevailed in only 23 out of 55 (41.8 percent) of the significant tax cases involving state and local taxes in the fourth quarter of 2019, and for the entire year only 83 out of 218 (38.1 percent) of the significant tax cases in 2019, according to a recent analysis.
| Taxpayers were on losing side more often in SALT lawsuits | | By Michael Cohn 3 min read
| | Taxpayers prevailed in only 23 out of 55 (41.8 percent) of the significant tax cases involving state and local taxes in the fourth quarter of 2019, and for the entire year only 83 out of 218 (38.1 percent) of the significant tax cases in 2019, according to a recent analysis. | |
| Spain plans tax on jumbo tech companies despite U.S. warning | | By Jeannette Neumann 2 min read
| | Spain will introduce a digital services tax at the end of the year that would hit the revenue of companies such as Facebook Inc. and Alphabet Inc.’s Google in a move likely to draw the ire of the U.S. administration. | |
| Tax-prep analyst sees more free filers hampering revenue growth | | By Andres Guerra Luz 2 min read
| | Tax-preparation software companies face headwinds for the revenue they get from each tax return this year due to the combined effect of a rising mix of free filings and lower need for services that assist do-it-yourself filers, according to Morgan Stanley. | |
| Zuckerberg backs digital tax that could boost Facebook’s bill | | By William Horobin 2 min read
| | Mark Zuckerberg for the first time said he supports efforts to create a global digital tax that would ultimately raise the amount Facebook Inc. pays to foreign countries, in a move that may boost efforts to put a new levy in effect by year-end. | |
| Senate Democrats introduce bill to eliminate GILTI tax loophole | | By Michael Cohn 2 min read
| | Sen. Ron Wyden, D-Ore., the top Democrat on the Senate Finance Committee, and Sen. Sherrod Brown, D-Ohio, have introduced legislation to block the Treasury Department from providing a way for multinational corporations to choose the lowest available tax rate. | |
| IRS urged to offer more cryptocurrency guidance | | By Michael Cohn 4 min read
| | The Internal Revenue Service could be doing more to help taxpayers who own Bitcoin and other forms of cryptocurrency to comply with their tax obligations, according to a new report. | |
|
