Molly Moses

An attorney for Siemens USA asked the U.S. Tax Court on Monday to consider all elements of the restructuring that followed the company's 2017 acquisition of Mentor Graphics and led to a $3.5 billion deduction the following year.

The U.S. Tax Court has jurisdiction in the case of a partnership that missed the 90-day window for filing its petition under an Internal Revenue Code rule enacted as part of the 2015 Bipartisan Budget Act, the court held Wednesday, finding that the 2015 regulations warranted a result different from that reached by the court in an earlier case.

Airbnb lost its constitutional challenge to a French penalty for failure to collect and remit tourist tax, with a court finding the minimum fine of €750 ($865) was appropriate given the difficulty that collecting the tax poses to local authorities.

The U.K.'s Upper Tribunal declined to allow a man who kept inadequate till records and tried to introduce last-minute evidence at a hearing to bring a second challenge to a First-tier Tribunal's decision upholding value-added tax assessments against him.

The OECD plans to publish at the end of August the comments it received on draft revisions to transfer pricing guidelines dealing with intragroup services, an official said at a conference Thursday.

OECD To Publish Comments On Services Draft In August

Companies borrowing from their affiliates need to establish that they are doing so on an arm's-length basis, an Internal Revenue Service official said Wednesday, defending the agency's position in current litigation against Eaton Corp. at a conference in Washington, D.C.

Companies borrowing from their affiliates need to establish that they are doing so on an arm's-length basis, an Internal Revenue Service official said Wednesday, defending the agency's position in current litigation against Eaton Corp. at a conference in Washington, D.C.

Four limited liability companies defended total deductions of $245 million for conservation easements on land in two Wisconsin counties they donated in 2021, telling the U.S. Tax Court the properties had the potential to support nearly 300 oil production wells.

Four limited liability companies defended total deductions of $245 million for conservation easements on land in two Wisconsin counties they donated in 2021, telling the U.S. Tax Court the properties had the potential to support nearly 300 oil production wells.