Caleb Harshberger

5 days ago | news.bloombergtax.com | Caleb Harshberger

The US won’t sign on to the OECD’s global minimum tax regime and is committed to keeping its own tax system, a Treasury official said Friday. The US tax system has to operate “side by side” with the global minimum tax, Rebecca Burch, deputy assistant secretary for international tax affairs, said at the American Bar Association Section of Taxation’s May 2025 meeting. Burch was referring to part of the global corporate tax deal agreed to by more than 140 countries in 2021.

6 days ago | news.bloomberglaw.com | Caleb Harshberger

Company challenging $9.6 million IRS bill, transfer pricing ruleLess deference to agency seen likely after Loper Bright decisionMcKesson Corp.'s case against the IRS and its cost-sharing regulations is the latest salvo against the agency’s rulemaking power—and one that could have financial implications for companies around the country. The pharmaceutical company sued the agency over a $9.6 million tax bill that it says it shouldn’t have to pay.

6 days ago | news.bloombergtax.com | Caleb Harshberger

McKesson Corp.'s case against the IRS and its cost-sharing regulations is the latest salvo against the agency’s rulemaking power—and one that could have financial implications for companies around the country. The pharmaceutical company sued the agency over a $9.6 million tax bill that it says it shouldn’t have to pay.

1 week ago | news.bloombergtax.com | Caleb Harshberger

California med-tech company Edwards Lifesciences Corp. faces an ongoing pair of high-dollar tax disputes—one in the US and one in Israel, the company said in financial filings Tuesday. The Irvine, Calif., company said it received an additional $16 million tax assessment in Israel on top of an existing dispute that started early last year, bringing the total sought by the Israel Tax Authority to $126 million, not including interest or penalties. The company said it is challenging the assessment.

1 week ago | news.bloombergtax.com | Caleb Harshberger

The US-China Business Council is asking the Trump administration to keep the US-China Tax Treaty, warning that terminating it would harm business. The group is “deeply concerned” about the administration’s consideration of eliminating the treaty, it said in a letter signed by its president Sean Stein.