Science, Computers & Technology Tax

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Navigating the ACA in the Trump Era

On November 8, 2016, the future of the Patient Protection and Affordable Care Act (ACA) became more uncertain. Republicans in Congress have been working to repeal the ACA since it was passed in 2010, and now, with control of...more

UK Autumn Statement 2016: IPT

No major changes were announced (subject to legislation to be published on 5 December), but we set out below a brief summary of the announcements which are relevant to corporates in the IPT sector....more

The Chancellor’s Autumn Statement

It’s that time of the quarter again and Chancellor Philip Hammond’s first (and last) Autumn Statement. It’s also the first Statement ‘post-Brexit’. The focus of the Statement has, as predicted, been on austerity versus...more

IRS on the Hunt for Bitcoin Users

Bitcoin is the most popular of the virtual currencies. In Notice 2014-21, the IRS advised that such currencies are not money, but property, for tax purposes. Two implications of this are that persons who use Bitcoins to...more

Ohio Imposes Tax on Online Retailers with No Physical Presence in State

Ohio Supreme Court decides physical presence is not a necessary condition for imposing commercial activity tax. The Ohio Supreme Court recently ruled that Ohio may impose its commercial activity tax (CAT) on...more

Digital Currency Exchange Customers Targeted in IRS Information-Gathering Sweep

Coinbase, one of the largest digital currency exchange companies in the world, will likely be asked to provide the Internal Revenue Service (IRS) with transactional data and other information on all U.S. customers who used...more

D.C. District Court Dismisses Cybersecurity Suit Against The IRS

On November 2, 2016, Judge Rosemary Collyer of the U.S. District Court for the District of Columbia dismissed a class action cybersecurity lawsuit against the Internal Revenue Service (“IRS”) for lack of standing and failure...more

IRS Data Breach Class Action Dismissed

Last week, the Internal Revenue Service successfully defeated a putative class action related to a data breach it suffered in 2015. The D.C. District Court’s decision dismissing the suit demonstrates the high bar required to...more

Potential for Tax Reform in 2017: Insight from Proposals of the President-Elect and Congressional Republicans

In the U.S. general election held on November 8, 2016, Donald J. Trump was elected to become the 45th President of the United States. Republicans also retained their majorities in both the U.S. House of Representatives and...more

October 2016: International Trade Update

Litigating the First Case of International Economic Cyber Espionage Under Section 337 of the Tariff Act. In what has been described by analysts as the case that “could be the most significant development in U.S. steel trade...more

Mexican government proposes tax incentives on IT services and R&D activities for 2017

As part of the 2017 economic budget and proposed tax reform, the Mexican government intends to incentivize a couple of activities that may be intertwined: first, by allowing information technology (IT) services to qualify as...more

Digital Tax Update – Local Edition

After the highly publicized administrative lease transaction and amusement tax expansions in Chicago last year, more cities around the country are taking steps to impose transaction taxes on the sale or rental of digital...more

Bill Proposes Tax Incentives For Data Breach Insurance

On September 14, 2016, U.S. Representative Ed Perlmutter (D-Colo.) introduced the “Data Breach Insurance Act,” which would incentivize private industry to enhance its cybersecurity posture by providing federal income tax...more

Former IRS Employee Reports to Prison for Identity Theft and Fraud

Nakeisha Hall was sentenced in federal district court in August to serve nine years and two months in prison after she plead guilty for crimes she committed while working for the IRS Taxpayer Advocate Service. Instead of...more

Your daily dose of financial news - The Brief – 9.12.16

The past 2 years have been just short of disastrous for most hedge funds. But even without much to show in the form of results, the world’s biggest fund manager—Bridgewater Associates—has attracted $22.5 billion in investor...more

Privacy Tip #51 – Check Up on Your Tax Preparer’s Data Security Measures

We have written before about the ability of hackers to file false tax returns to get fraudulent refunds by using the IRS website, and how hundreds of thousands of Americans have become victims of tax fraud. The IRS...more

Gavel to Gavel: Retail Protection Act to affect internet sales

Internet sales to Oklahomans are going to be subject to new sales tax rules starting Nov. 1. The new Oklahoma Retail Protection Act of 2016 is to provide a sales tax level playing field between brick-and-mortar...more

Romanian tax authorities go public on the first VAT fixed establishment assessment in the pharmaceutical industry

The Romanian tax authorities just issued a press release regarding an audit performed on the activity carried out by the local subsidiary of a multinational pharmaceutical group. The Romanian authorities claim that this...more

Digitally Delivered Products Now Subject to Sales Tax in Pennsylvania - Tax Update Volume 2016, Issue 3

The implementation of sales tax on the thousands of services that are delivered digitally can prove vexing. Have you downloaded a book recently or sent an e-card? Is your billing address in Pennsylvania? If so, as of August...more

Pennsylvania Tax Developments - A Reed Smith Quarterly Update

Is Pennsylvania bringing back its tax on “computer-related services”? Pennsylvania’s new “Netflix” tax (enacted as part of Act 84 of 2016) covers more than just digital downloads and streaming services. Effective August 1,...more

Texas Comptroller’s Office Holds Roundtable on Proposed Regulation Targeting IT, Pharmaceutical Industries

On August 4, 2016, representatives of the Texas Comptroller of Public Accounts held a limited-invite roundtable to discuss the proposed amendments to 34 Tex. Admin. Code 3.584, relating to the reduced rate available under the...more

Michigan Supreme Court’s Decision Order in IBM Must be Followed

Background Under Michigan's Business Tax Act ("MBT Act"), generally effective from 2008-2011, income was apportioned using a single sales factor. During the same time period, Michigan law included the Multistate Tax Compact,...more

Food and Beverage News and Trends - August 2016 #2

This regular publication by DLA Piper lawyers focuses on helping clients navigate the ever-changing business, legal and regulatory landscape. - GMO labeling bill enacted into federal law. On July 29, President Barack...more

New VAT regime for e-services

On 1 January 2017 the special VAT regime for "electronically supplied services" ("e-services") comes into effect, as introduced by Federal Law No. 244-FZ dated 3 July 2016....more

Derivatives in Review - July 2016

An Overview of Proposed Regulation AT - Orrick attorneys authored an overview of Regulation Automated Trading (known as "Regulation AT") proposed by the Commodity Futures Trading Commission ("CFTC") in the May/June 2016...more

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