Latest COST Conscious

ISSUE 24-07; April 5, 2024

Recent State and Local Tax Audit Trends – Earlier this year, we posed a question on the Members Forum asking if members had noticed a change in the volume of new state corporate tax audits being initiated in the past two years. That question continues to generate significant interest on the forum and the answers indicate that many COST members have noticed changes in the number and complexity of a

Latest Legislative Alert

ISSUE 24-16; April 16, 2024

COST Supports Centralized Accommodations Tax Administration in Alabama; COST Opposes Nebraska Advertising Services Tax Legislation

Latest Practitioner Connection

ISSUE 24-08; April 12, 2024

GeTtin’ SALTy: Episode 26: Catch-Up with Jared Walczak at the Tax Foundation, with a Focus on Property Tax Relief – In this episode of GeTtin’ SALTy, host Nikki Dobay is joined by Jared Walczak, Vice President of Special Projects at the Tax Foundation. Jared catches Nikki up on Tax Foundation's impression of 2023, and then theydiscuss what Jared has been focused on this legislative session. Jared

BLOOMBERG TAX

IRS’s Long-Lived Free File Gets Boost From New Pilot’s Messaging

April 18, 2024

The IRS's partnership with the private sector to help taxpayers file returns for free appears to be getting a bump in use with the help of the launch of the agency-run pilot program this year.

Breaking Down High Court Chevron Case and Tax Rules (Podcast)

April 18, 2024

A forthcoming Supreme Court decision on federal agency rulemaking power is fueling chatter on the extent to which it could upend the regulatory process, but the IRS and Treasury Department are expected to be largely insulated.

EU’s Vestager Warns of Telecoms Merger Risks to Competition (1)

April 18, 2024

Big telecoms mergers in Europe would cut competition and distort the bloc’s prized single market, the European Union’s competition chief Margrethe Vestager warned, in an apparent rebuttal of calls in a new EU report for more consolidation. 

Microsoft’s Out-of-Box Thinking on AI Demands Full FTC Scrutiny

April 18, 2024

Former FTC policy director David Balto warns of anti-competitiveness in AI and urges the commission to use all tools available to examine Microsoft’s recent AI actions.

D.C. Office Conversion Tax Credits Would Ease Housing Crisis

April 18, 2024

Howard University's Jean Wells says government, retail, businesses, and the unhoused could benefit from D.C.'s office property tax plan.

Thailand to Subsidize Diesel Price From Oil Fund: Ministry

April 18, 2024

Thailand plans to subsidize retail diesel price through the state-run oil fund after the finance ministry decided against extending a cut in excise duty on the most-used fuel beyond Friday.

Billionaire Families Lose Hope for Tax Cut After Korean Vote

April 18, 2024

Some of the richest people in South Korea may be among the biggest losers from elections last week that all but ended a proposal to cut one of the highest inheritance tax rates in the developed world.

EU Lawmakers Push for Progress on Joint Deposit Insurance Plans

April 18, 2024

Lawmakers on a key European Parliament body are seeking to build momentum for a controversial plan to pool insurance for bank depositors, a central step needed to complete the bloc’s project for a unified market for banks.

Virginia Governor Calls for Special Session to Rewrite Budget

April 17, 2024

Virginia Gov. Glenn Youngkin (R) and state lawmakers have agreed to scrap the budget previously approved by the General Assembly and restart the process, aiming to present an updated spending plan by mid-May.

Tennessee Court Upholds Rejection of Firm’s Claim to Tax Credits

April 17, 2024

A financial services firm has no claim to unused tax credits resulting from a spinoff involving two Community Health Systems Inc. units, the Tennessee Court of Appeals ruled.