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California lawmakers appear willing to put aside skepticism about economic benefits of the state’s film and television tax credits and to expand the program, mainly to stanch the flow of productions to places with more generous tax breaks. More than 130 Democrats are condemning the Trump administration’s firing of thou
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News
New Coinbase General Counsel Charts AI-Engineered Legal Path
2+ week, 4+ day ago (816+ words) Coinbase Global Inc.’s new general counsel Molly Abraham is re-engineering the legal group she now leads to maximize the impact of artificial intelligence. Abraham, who began her career two decades ago as a product development engineer at Procter & Gamble…...
CME CEO Spars With CFTC Chair About Prediction Market Oversight
3+ week, 2+ day ago (108+ words) news.bloombergtax.com The head of CME Group Inc. told the chairman of the Commodity Futures Trading Commission that the agency needed to do more to prevent manipulation on prediction markets as the trading startups grow into multibillion-dollar businesses. The…...
Grant Thornton CEO Says CBIZ Merger is Key to Unlocking AI Value
1+ week, 4+ day ago (106+ words) news.bloombergtax.com Grant Thornton’s planned $5 billion acquisition of CBIZ Inc. is a critical part of its strategy to expand its artificial intelligence capabilities, the firm’s US leader said. “Adding that additional level of scale really does give us greater…...
Grant Thornton Freed From Veradigm Investor’s Accounting Lawsuit
3+ week, 3+ day ago (113+ words) news.bloombergtax.com Veradigm Inc. and two former top executives must contend with investor allegations over the health-tech company’s accounting practices in the early 2020s, but claims against its ex-auditor Grant Thornton LLP weren’t specific enough to proceed, a federal judge…...
Anthropic Expects to Match or Top SpaceX’s Record IPO Size (1)
3+ week, 2+ day ago (107+ words) news.bloombergtax.com Anthropic PBC expects to match or beat the size of SpaceX’s record-setting initial public offering, according to people familiar with the matter, in the latest sign of overwhelming demand from investors looking to profit from the artificial…...
Illinois Crypto Tax Stung With Another Industry Group Challenge
2+ week, 5+ day ago (112+ words) news.bloombergtax.com Cryptocurrency trade groups are bringing another legal challenge to Illinois’s first-in-the-nation tax on digital asset transactions, alleging the state hastily enacted a “flawed and unlawful statute.” The Blockchain Association and the Crypto Council for Innovation filed suit…...
Trump Asks Congress to Pass Crypto Bill Alongside Executives
3+ week, 3+ day ago (113+ words) news.bloombergtax.com President Donald Trump pressed Congress to pass digital asset market structure legislation that is a top priority for the industry, as he hosted cryptocurrency executives at the White House on Wednesday. Trump cast the so-called Clarity Act…...
Crypto Broker Tax Form’s New Challenges Call for Early Action
3+ week, 4+ day ago (511+ words) Form 1099-DA treated every digital asset the same way in 2025, reporting gross proceeds of crypto sales to the IRS. Large crypto brokers such as Coinbase, Kraken, and Crypto.com all issued the forms for the first time. But Form 1099-DA…...
Companies’ Sharing of AI Agents Risks More Tax Fights
3+ week, 2+ day ago (853+ words) Multinationals sharing proprietary AI agents among their subsidiaries risk the possibility of more disputes with tax authorities as questions arise about how to price that sharing. The fact that any person with access to the technology can make or add…...
IRS Drops Crypto Scam Victims’ Tax Bill on Theft Loss Deduction
1+ week, 1+ day ago (143+ words) The IRS reached an agreement with a New York couple that they no longer owed taxes or penalties, after previously disallowing their $965,000 theft loss deduction related to a cryptocurrency investment scam, according to a US Tax Court decision Friday. Brian…...