A U.S. Tax Court judge asked one of Eaton's experts Tuesday how much the company could have saved by issuing debt from its new Irish parent in 2012 instead of having the parent guarantee bonds the U.S. company issued to third parties.
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WEDNESDAY, DECEMBER 10, 2025 Law360 iOS App Law360 Android App Follow Law360 on Facebook Follow Law360 on LinkedIn Follow Law360 on Twitter

TOP NEWS

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Judge Wants Cost-Benefit Analysis Of Eaton Guarantees

By Molly Moses

A U.S. Tax Court judge asked one of Eaton's experts Tuesday how much the company could have saved by issuing debt from its new Irish parent in 2012 instead of having the parent guarantee bonds the U.S. company issued to third parties.

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US Asks 5th Circ. To Revive ACA Employer Tax Penalties

By Kat Lucero

The IRS properly penalized a janitorial services company for failing to provide employees with healthcare coverage under the Affordable Care Act, the U.S. government said, urging the Fifth Circuit to reverse a Texas federal court ruling that voided regulations promulgating the penalties.

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7th Circ. Denies Tax Evader's New Trial Over Disciplined Atty

By Kat Lucero

A man convicted of tax fraud will not get a new trial based on his lawyer's removal from the Seventh Circuit Bar two months after his conviction in an unrelated case, the appellate court ruled Tuesday, saying the discipline must relate to his own defense.

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EXPERT ANALYSIS

AI Evidence Rule Tweaks Encourage Judicial Guardrails

Recent additions to a committee note on proposed Rule of Evidence 707 — governing evidence generated by artificial intelligence — seek to mitigate potential dangers that may arise once machine outputs are introduced at trial, encouraging judges to perform critical gatekeeping functions, say attorneys at Lankler Siffert & Wohl.

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LITIGATION

Sabre Tax Dispute Belongs In UK Court, British Airways Says

By Josh White

Flight booking giant Sabre's lawsuit over a U.K. digital tax bill should be dismissed or left for a British court to rule on, British Airways told a Texas federal court, arguing that the digital services tax is a matter for U.K. law.

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REGULATION

IRS Provides Guidance On Health Savings Account Expansion

By Asha Glover

The IRS provided guidance Tuesday on new tax benefits for Health Savings Account participants, including a provision making bronze and catastrophic plans available through the Affordable Care Act marketplace HSA-compatible, even if they don't meet the definition of a high-deductible health plan.

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LEGISLATION

Sens. Propose NIL Accounts To Help Students Grow Earnings

By Tom Lotshaw

Two U.S. senators introduced legislation Monday to allow the growing number of college student-athletes inking name, image and likeness deals with companies to create tax-advantaged investment accounts to save some of their earnings.

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PEOPLE

Holland & Knight Adds Shipman & Goodwin Wealth Atty

By Jack Rodgers

A member of the 17-attorney team that left Tarlow Breed Hart & Rodgers PC to launch Shipman & Goodwin LLP's first office in Boston last month has made another move to join Holland & Knight LLP as a partner in its private wealth services group, the firm announced Monday.

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Law360 Tax Authority Map

LAW FIRMS IN TODAY'S NEWS

Covington & Burling

Haynes Boone

Holland & Knight

Kelly Hart

Lankler Siffert

Mayer Brown

Shipman & Goodwin

Skadden Arps

COMPANIES IN TODAY'S NEWS

Affordable Care LLC

British Airways PLC

Cooper Industries PLC

Eaton Corp. PLC

LinkedIn Corp.

Morgan Stanley

National Collegiate Athletic Association

GOVERNMENT AGENCIES IN TODAY'S NEWS

HM Revenue & Customs

Internal Revenue Service

U.S. Attorney's Office for the Northern District of Indiana

U.S. Attorney's Office for the Southern District of New York

U.S. Court of Appeals for the Fifth Circuit

U.S. Court of Appeals for the Seventh Circuit

U.S. Department of Health and Human Services

U.S. Department of Justice

U.S. Department of the Treasury

U.S. District Court for the Northern District of Texas

U.S. Tax Court