By Richard Rubin and Theo Francis
Richard Rubin and Theo Francis consider how tax court decisions may impact companies’ bottom lines, or not.
By Alexander Osipovich
Rep. Rashida Tlaib (D., Mich.), a member of the so-called “squad” of firebrand progressives in the House, is calling for a financial transaction tax to rein in risky stock trading and to redistribute wealth. “The majority of Americans support taxing Wall Street transactions,” she said at Thursday’s hearing on the GameStop trading frenzy. “This tax, to me, would discourage risky and high-frequency trading.”
By Reuven S. Avi-Yonah and Gianluca Mazzoni
Coca Cola v. Commissioner (Tax Court, Nov. 18, 2020) is the first decisive IRS victory in a major transfer pricing case since 1979. If the outcome is not reversed on appeal, this will mark an important shift in transfer pricing litigation in the US, and perhaps indicate that the IRS could win some of the other major pending cases, like the one against Facebook.