Latest COST Conscious

ISSUE 25-03; February 14, 2025

Polling Questions as a Presentation Tool – During presentations at COST meetings and conferences, the speakers ask several polling questions. Polling questions are designed to allow speakers to interact with the audience in real-time and to make presentations more engaging. We are interested in gauging the value of these polling questions to our members. Choose all that apply:

Latest Legislative Alert

ISSUE 25-07; February 18, 2025

COST Opposes Montana Digital Advertising Services Tax Legislation; COST Opposes Maryland Mandatory Worldwide Combined Reporting Legislation

Latest Practitioner Connection

ISSUE 25-03; February 7, 2025

State and Local Tax Weekly for January 10 and January 17 – Prepared by Ernst & Young's State and Local Taxation group, this weekly update summarizes important news, cases, and other developments in U.S. state and local taxation. Ernst & Young LLP, February 6, 2025.

BLOOMBERG TAX

Wealth Tax Backed by French Lawmakers Is Panned by Government

February 21, 2025

French Budget Minister Amelie de Montchalin criticized a bill adopted by the National Assembly for a 2% wealth tax, saying the measure — which is unlikely to become law — would hurt investment and job creation. 

Senate Republicans Back Budget Plan, Dodge Democrats’ Amendments

February 21, 2025

The Senate passed a budget resolution package largely along party lines.

Trump’s Growing Focus on Tariff Revenue Raises Trade War Odds

February 21, 2025

President Donald Trump and his economic team are increasingly focusing on the revenues his tariffs would generate as he seeks to get tax cuts through Congress, pointing to an ominous path ahead for countries trying to avoid a trade war.

New Jersey Sets Up Rules for More Companies to Pay Income Tax

February 21, 2025

New Jersey's latest rulemaking is a warning to out-of-state companies that tax officials will be more assertive in subjecting them to state income tax if they conduct certain internet activities in the Garden State, tax practitioners say.

Thousands of IRS Firings Foreshadow Delays, Enforcement Drop

February 21, 2025

Thousands of cuts to the IRS workforce threaten to throw a wrench in the agency’s plans to ramp up tax enforcement and will likely delay refunds for complex filers.

Cameco Ruling Sets Off Push for More Taxpayer Audit Data

February 21, 2025

A court order requiring Canada’s tax authority to divulge more details about its transfer pricing audits is seen as an encouraging sign for taxpayers, as tax lawyers say the reasoning behind such examinations is too often shrouded in mystery.

Transfer Pricing Chat: Sean McNama of RSM Canada LLP

February 21, 2025

In more ways than one, a company’s transfer pricing policy is only as good as how well it is implemented across the many different functions it touches.

Allow IRS Criminal Investigators to Keep Following the Money

February 21, 2025

Former IRS special agent Jonathan Schnatz says reassignment of investigators away from financial crime is the wrong move, and that collaboration is already happening with border enforcement.

Illinois Pepsi Case Puts Spotlight on 80/20 Rule Modernization

February 21, 2025

Akerman partners say multinationals should reassess their tax reporting in all states and carefully track employees' presence, following an Illinois circuit court ruling that rejected PepsiCo's application of the 80/20 exclusion rule.

IRS Plans to Cut Thousands of Workers by Post After Email Glitch

February 20, 2025

Thousands of IRS employees around the country reported to work Thursday prepared for an email announcement that they were being placed on leave.