EU High Court Denies Tax Break for Investment Giant
The European Union’s top court on Thursday ruled against BlackRock in an attempt by the world’s largest investment management company to avoid paying taxes.
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Taxes
EU Magistrate Backs Challenges to Cross-Border Tax Disclosures
Residents of European Union member states can contest the release of their personal financial information as part of an exchange of data between tax authorities in different countries, an adviser to the EU’s highest court said Thursday.
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High Court Slams Religious Bias in State Tax-Credit Scheme
Montana discriminated against religious schools by excluding them from a tax-credit scheme meant to help low-income families afford private education, the Supreme Court ruled 5-4 Tuesday.
Read moreConstitution
A class action against all 36 Oregon counties claims they unconstitutionally seize and sell property for “small, sometimes minuscule amounts” of unpaid real estate taxes and keep all of the money, including money that exceeds the amount of taxes owed, in Deschutes County Court.
Read moreEurope Slams US Withdrawal From Tech Tax Talks
European countries are slamming the Trump administration’s withdrawal from negotiations over a major tax on big tech companies.
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Ex-Businessman Argues Mental Illness Should Void Fraud Sentence
An attorney for a former business executive sentenced to two decades in prison for tax and wire fraud asked an 11th Circuit panel Wednesday to reinstate his habeas petition claiming his bipolar disorder rendered him unable to legally form the intent to commit the crimes.
Read moreCharity Fraud
Geraldine Hill, 59, and her husband Clayton Hill, 58, both of Bonita, Calif., face up to 10 years in prison after pleading guilty to conspiracy to commit mail fraud and tax evasion involving their alleged charity On Your Feet aka Family Resource Center, of Spring Valley, from which they diverted $1.3 million and paid no taxes, federal prosecutors said.
Read moreTaxes
The City of Arcadia and 37 others sued Southern California Edison in Santa Barbara County Court, claiming it diverts millions of dollars of taxes intended for public services for its own benefit.
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Israeli Model Bar Refaeli Signs Plea Bargain for Tax Evasion
Israeli top model Bar Refaeli signed a plea bargain agreement with authorities on Tuesday to settle a long-standing tax evasion case against her and her family.
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Property Tax Overhaul Initiative Qualifies for California Ballot
The coronavirus pandemic and California’s shattered finances have injected urgency into an initiative that qualified for the November ballot Friday which — if passed — would reform the state’s landmark property tax code to raise billions for cash-strapped schools and counties.
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Feds Accused of Holding Back Tax Refunds Over Student Debt
The Trump administration has kept up collecting on federal student loan debt during the Covid-19 pandemic by withholding urgently needed tax refunds, according to a lawsuit filed Friday in Washington federal court.
Read moreCalifornia Senate Rejects Governor Newsom’s Call for Cuts
The California State Senate rejected Governor Gavin Newsom’s proposed budget cuts to sectors like education and health care Thursday, instead seeking to draw down more reserves, raise taxes on certain industries and borrow against the future to make up an estimated $54 billion shortfall.
Read moreSoak the Rich
Despite revenue shortfalls record-high unemployment due to the Covid-19 pandemic, a ballot initiative to tax the wealthiest individuals and biggest businesses to address the homelessness crisis sailed to victory in Portland, Oregon, on Tuesday.
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Fight to Unearth Trump’s Financial Records Roils Supreme Court
Supreme Court arguments stretched for more than three hours Tuesday with few hints from the justices on how they will resolve multiple subpoenas over President Donald Trump’s financial records.
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High Court Set to Hear Historic Trump Financial Records Cases
In a pair of cases that test the limits of presidential privileges and the relationship between the executive and legislative branches, the Supreme Court will hear arguments Tuesday over whether House Democrats and a New York prosecutor can subpoena President Donald Trump’s financial records and tax returns.
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Delaware Court Says Outdated Property Values Hurt Schools
In a 150-page opinion Friday, a Delaware chancellor rapped state officials for skimping on public school funding by relying on property tax values that are more than 30 years old.
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House Urges Justices to Reject Challenge to Obamacare Tax Penalty
The Supreme Court will hear arguments over the Affordable Care Act’s individual mandate during its next term. WASHINGTON (CN) —
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