Federal Reserve Raises Cap on Debit Card Swipe Fees, Provides Banks with More Time to Comply

A divided Federal Reserve Board June 29 cleared a final rule that caps so-called swipe fees on debit card transactions much higher than the 12-cent limit that the Fed proposed in December…

Retailers, Card Issuers, Bankers Move Fast to Shape Interchange Rules

Retailers, card issuers, bankers, and others are moving early and fast to shape critical regulations that will govern interchange fees in the fast-growing market for debit cards, even while the rules are still on the…

ANALYSIS: Colorado’s New Law (H.B. 1193): Is This Approach to E-Commerce Taxation the Solution That Cash-Strapped States Have Been Waiting For?

Colorado H.B. 1193, which imposes new reporting requirements on internet retailers, has generated considerable controversy in the state in the wake of Amazon.com’s decision to…

National Digital Tax Regime, Long-Term R&E Credit Called for in FCC Broadband Proposal

A federal framework for taxing digital goods and services would improve tax certainty and promote online entrepreneurship and investment, the Federal Communications Commission said in…

Trade Groups, Firms Exploiting Proliferation of Border-Crossing Payment Systems

Trade associations and private firms are moving to exploit an increasingly globalized payment system that is fast outgrowing the laws that govern those transactions…

ANALYSIS: State Taxes in 2009: The Year in Review

KPMG’s review of state taxation in 2008 began with the quote, “It was the best of times, it was the worst of times …”; in contrast, 2009 generally was the worst of times—from start to finish…

Supreme Court Finds New York City May Not Make RICO Claims in Internet Sales Tax Case

The U.S. Supreme Court Jan. 25 found that New York City could not assert civil tax claims under the Racketeer Influenced and Corrupt Organizations Act against out-of-state vendors who allegedly sold…