Paul L. Caron
Dean
Pepperdine Caruso
School of Law
Tax News
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NYSBATS Report on NYC’s Pied-à-Terre Tax
The Tax Section of the New York State Bar Association has published a new report, Report No. 1531, which concerns Article 30-C of the New York Tax Law (i.e., the pied-à-terre tax) and its first-year implementation. From the report: As the surcharge’s first fiscal year began on July 1, 2026, before final regulations have been…
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N.Y. Times: Judge Denounces Trump’s I.R.S. Suit as Improper Exercise in Self-Dealing
For the New York Times, Andrew Duehren and Alan Feuer have a piece, “N.Y. Times: Judge Denounces Trump’s I.R.S. Suit as Improper Exercise in Self-Dealing.” From the piece: A federal judge ruled on Monday that President Trump’s lawsuit against the Internal Revenue Service was an improper exercise in self-dealing and barred him from claiming that…
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Treasury’s Top Tax Official to Depart
Erin Slowey and Erin Schilling, “Top Treasury Tax Official, Acting IRS Lawyer Kies to Depart” (Bloomberg, July 13): Ken Kies, the top Treasury tax policy official who also oversees the IRS legal arm, is departing his dual roles, an administration official said Monday. The Senate confirmed Kies as the assistant secretary for tax policy at…
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Law360: State and Local Tax Midyear Updates & Second Half Preview
Jaqueline McCool (Law360): Top State & Local Tax Cases Of 2026: Midyear Report From the U.S. Supreme Court declining to weigh in on Florida’s fight against a California apportionment rule to the New York appellate court affirming the dismissal of a challenge to how P.L. 86-272 applies to internet activities, it’s been a busy half-year for state…
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House Ways and Means Exploring Perceived Disparity in Sports Team Pay Deduction
Cady Stanton (Tax Analysts): W&M Exploring Perceived Disparity in Sports Team Pay Deduction The top House taxwriter said his committee is considering whether expanding an upcoming cap on top earner salary deductions to all sports teams — not just those owned by publicly traded companies — could serve as a solution for concerns about unfair…
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More on NYC’s Pied-à-Terre Tax
Timothy P. Noonan, Lauren E. Austin & Noah S. Chase (Hodgson Russ LLP), Second Home, New Tax: Navigating NYC’s Pied-à-Terre Surcharge, 121 Tax Notes State 79 (July 13, 2026) It’s the first tax of its kind in New York state, and it’s finally here after more than a decade of failed proposals. Here, we walk through…
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Virginia Rewrites the Tax Bargain for AI Data Centers
Virginia’s tax landscape for hyperscale data centers is evolving. After months of budget negotiations, lawmakers preserved the Commonwealth’s sales and use tax exemption for certain data center equipment and simultaneously imposed a first-in-the-nation excise on data-center electricity consumption. This legislative compromise leaves in place the up-front incentives to build data centers in the state, while…
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The Economist: Two Cheers for Trump Accounts
The Economist, Two Cheers for Trump Accounts (July 9, 2026): The idea of giving children equity stakes in the economy is sound in principle. It is also well-timed, as societies face up to the looming economic disruption from artificial intelligence.
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ABA Tax Section: Careers in Tax Webinar
ABA Tax Section, Careers in Tax Webinar on July 15 at 6:30 PM ET: The ABA Tax Section Outreach & Inclusion Committee invites undergraduate and law students to learn about pathways into taxation on July 15 from 6:30 – 7:30 pm ET. During this 60-minute discussion, our panel of accomplished tax professionals will share their…
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Bloomberg: California Film Tax Credit Demand Rises Under Expanded Program
Danielle Muoio Dunn (Bloomberg):California Film Tax Credit Demand Rises Under Expanded Program: California is seeing increased demand for its film and television tax credit program after expanding it to compete with similar incentives offered by New York and several European countries. The state saw an 82% increase in applications for the benefit this fiscal year compared to…
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N.Y. Times: Microsoft Disclosure Provides Rare Glimpse of Tax Haven Tactics
In the New York Times, Jesse Drucker and Karen Weise have a piece, “Microsoft Disclosure Provides Rare Glimpse of Tax Haven Tactics.” From the piece: A compliance report released by Microsoft this week provided a rare look into how tech giants shift profits out of the countries where they have many employees and significant sales…
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Rauh & Jaros: It Failed in France. It Would Be a Disaster in California.
In the New York Times, Joshua Rauh (Stanford Hoover Institute) and Benjamin Jaros (Stanford Hoover Institute) have published a guest essay titled, “It Failed in France. It Would Be a Disaster in California.” From the piece: To many, the 5 percent wealth tax on California’s ballot this year may sound like a harmless way to…
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Democracy Journal Publishes New Tax Symposium
Democracy: A Journal of Ideas, has recently published a tax symposium—focused on “why we need more tax revenue, and how to raise it”—that features a number of law professors, including contributions from Brian Galle, Lily Batchelder, and David Kamin (with Chye-Ching Huang and Brandon Debot of the Tax Law Center at NYU). The full set…
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NY Tax on Remote Work Again Withstands Professor’s Challenge
Perry Cooper (Bloomberg Law): NY Tax on Remote Work Again Withstands Professor’s Challenge New York’s strict rules for taxing remote work performed for in-state companies survived another legal attack after a state appeals court ruled Thursday that they conform to federal constitutional protections. … Zelinsky asked the New York Supreme Court, Appellate Division, Third Department,…
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Kalshi Sues Illinois to Nullify New Prediction Market Tax Law
Emily Hollingsworth (Tax Analysts): Kalshi Sues Illinois to Nullify New Prediction Market Tax Law Kalshi has filed suit in federal court to prevent Illinois from enforcing its new prediction market tax and licensing requirements, which the company says will cause it “irreparable harms.” The prediction market company filed its June 23 complaint under KalshiEX LLC v. Raoul in the U.S.…
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The OBBBA’s Trump Accounts Open on July 4
On the OBBBA’s first anniversary, one of the law’s more unusual experiments takes full effect. Starting July 4, 2026, contributions may be made to minor children’s 530A accounts—better known as Trump Accounts. There’s fanfare: next week, the NYSE and Nasdaq opening bells will ring from the Oval Office to celebrate families’ ability to fund these…
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TPC: America at 250: Ten Tax Facts to Remember
Tracy Gordon & Aravind Boddupalli, America at 250: Ten Tax Facts to Remember, Tax Policy Center (June 29, 2026): The 250th anniversary of the signing of the Declaration of Independence marks a great time to think about taxes. . . .
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Roundup: The OBBBA, One Year Later
July 4 marks one year since the enactment of the One Big Beautiful Bill Act, and analysts across the tax policy spectrum are taking stock: who received tax relief (and how much), who bore (or will bear) the offsetting costs, and how the law has reshaped the American fiscal state and the trajectory of future…
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WSJ: Why a Couple Lost a $200,000 Tax Battle Over Their Horses
Laura Saunders, Why a Couple Lost a $200,000 Tax Battle Over Their Horses (Wall Street Journal, July 3, 2026) Lots of Americans lose battles with the Internal Revenue Service. But sometimes those fights provide insights the rest of us can use to win against the IRS on similar issues. A recent Tax Court case about so-called hobby…
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Bloomberg: North Carolina Targets Prediction Markets, Sports Betting Taxes
Daniel Moore (Bloomberg): North Carolina Targets Prediction Markets, Sports Betting Taxes: North Carolina lawmakers unveiled a $34 billion budget deal (SB 257) Tuesday that includes a new 6% prediction markets tax and higher levies on sports betting providers—the latest move by the state to extract more revenue from its growing gambling industry. The agreement announced…
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The Tax Adviser: IRS outlines AI risks, Circular 230 duties for tax practitioners
Martha Waggoner (The Tax Adviser): IRS outlines AI risks, Circular 230 duties for tax practitioners: The IRS Office of Professional Responsibility (OPR) issued guidance outlining how existing Treasury Circular 230 rules apply to tax practitioners’ use of artificial intelligence (AI), emphasizing that long-standing duties such as due diligence, competence, and confidentiality remain unchanged. The overarching…
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Bernie Moreno and Elizabeth Warren: Our Plan to Save Social Security
In a guest essay for the New York Times, Bernie Moreno (R-OH) and Elizabeth Warren (D-MA) argue for their plan “to save Social Security for generations of Americans to come.” From the piece: That starts with a common-sense solution: lifting the Social Security payroll tax cap. For 2026, the payroll tax cap, or taxable maximum,…
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Tax Notes: Soroban Gets Cool Reception on Limited Partner Argument
Kristen A. Parillo, in Tax Notes, provided an update on the oral argument in Soroban Capital Partners LP v. Commissioner, the Second Circuit case in which a taxpayer is challenging the government’s interpretation of the term “limited partner” in section 1402(a)(13): A panel of Second Circuit judges seemed highly skeptical of a New York hedge fund’s…
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DOJ Tax is Hiring
Trevor Sikes, “DOJ Seeks More Tax Attorneys as Caseload Increases” (Tax Notes, June 29, 2026): The Justice Department’s Tax Litigation Branch of the Civil Division is looking to bolster its workforce following a significant exodus of attorneys and an increased caseload, according to a government official. “During the last couple of years, we’ve lost some significant amount of…
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Newsom Floats Federal Wealth Tax After California Deal Fails
Alicia Clanton & Biz Carson (Bloomberg Law): Newsom Floats Federal Wealth Tax After California Deal Fails Governor Gavin Newsom is calling for a federal tax on billionaires after failing to stop a California wealth tax from reaching the November ballot, setting up a high-profile test of whether voters will back one of the nation’s most…