Tax Law360 provides breaking news and analysis on federal, state, and international tax law, with a focus on business enterprises. Coverage includes high-stakes litigation, government enforcement actions, and auditing issues, as well as related policy developments.
Former Trump campaign chairman Paul Manafort, whose trial on a dozen charges of bank and tax fraud is scheduled to begin in Virginia federal court Wednesday, has aggressively pushed back against the Office of Special Counsel’s allegations since his indictment, and experts told Law360 they expect him to use every legal tool he can to keep evidence away from jurors and cast doubt on the evidence put before them.
An assertion that a tax consequence “may” happen is not the same as a declaration that it “will,” a Seventh Circuit panel has ruled, upholding the dismissals of two individuals' suits against debt collection firms for a perceived implication about their forgiven debt.
A California state appeals court on Thursday found that a Los Angeles County assessor can include revenue from Time Warner Cable Inc.’s broadband and telephone services in valuing the right to use the public rights-of-ways for the purposes of property taxes, partially reversing a trial court ruling over a $10 million property tax refund.
The Miccosukee Tribe of Indians of Florida has asked the Eleventh Circuit to reconsider its position that one of its members should be taxed on funds intended for her husband and children, saying that the ruling, if applied to other members, would increase the tribe’s tax withholding obligations by about $3.4 million annually.
In this week’s Taxation With Representation, Phillips Edison took over a real estate investment trust that it manages in order to create a $6.3 billion business, Linde AG offloaded parts of its business interests in North America to a joint venture between Messer Group GmbH and a CVC Capital Partners fund for $3.3 billion, and Asahi Kasei Corp. agreed to buy Sage Automotive Interiors from Clearlake Capital Group for $700 million.