• March 19, 2018

    Rio Tinto Nears Arbitration Over $155M Mongolian Tax Bill

    Mining company Rio Tinto and Mongolia could be headed for international arbitration after the company's Canadian subsidiary filed a formal notice of dispute regarding the valuation of a copper mine on the southeastern border, a move that gives the parties several months to resolve the country's recent claim that it's owed $155 million in back taxes. 

  • March 19, 2018

    Rank Can't Make Alcoa Pay $10M Chilean Tax, Judge Says

    A New York federal judge ruled Monday that Alcoa Inc. shouldn’t have to foot a $10 million Chilean tax bill for Rank Group Ltd. following its $2.7 billion purchase of Alcoa’s packaging business, finding Rank incurred the tax by not paying off a loan it acquired in the deal.

  • March 19, 2018

    UK Atty Tells Jury He Is Scapegoat For Tax-Cheating Heirs

    British lawyer Michael Little told a Manhattan jury Monday he is the “scapegoat” for the family of deceased investor Harry Seggerman, defending himself against charges that he helped his client’s heirs dodge taxes on $14 million of inheritance money and dodged his own tax bills to boot.

  • March 19, 2018

    Tax Court Ruling ‘Absurd,’ Professors Tell 2nd Circ.

    A U.S. Tax Court ruling denying a Connecticut woman's bid to reclaim her overpayment in a case of first impression led to an “absurd” result and must be overturned, according to an amicus brief filed in the Second Circuit Friday by two tax professors.

  • March 19, 2018

    ECJ Rules French Proprietor Owes Tax Despite Swiss Move

    A businessman still owes capital gains tax on his holdings despite moving from France to Switzerland, the European Court of Justice ruled, finding that the agreement allowing for free movement between the European Union and Switzerland did not apply or supersede French law.

  • March 19, 2018

    FBI Properly Withheld Trump's Tax Returns, DC Judge Says

    A D.C. federal judge on Monday ruled against a journalist and a historian who sought information related to President Donald Trump’s tax returns, finding the FBI and Secret Service conducted an adequate search in response to their request and properly withheld records.

  • March 19, 2018

    Taxation Group Opposes Daily Sales Tax Settlement In Mass.

    The Council on State Taxation has joined the protest against a bill in Massachusetts that would require retailers and credit card processors to submit daily sales tax receipts, arguing the measure would be costly to administer and harmful to business and would offer no financial gain.

  • March 19, 2018

    Treasury Urges 5th Circ. To Reinstate Anti-Inversion Rule

    The U.S. Department of the Treasury urged the Fifth Circuit in an appeal filed Friday to resurrect a temporary rule invalidated by a Texas federal court after it sank a planned $160 billion merger between Pfizer Inc. and Irish counterpart Allergan PLC, saying that it had fulfilled its obligations in promulgating the rule.

  • March 19, 2018

    EU Gears Up To Retaliate Against US Steel, Aluminum Tariffs

    The European Commission is seeking input from “private stakeholders” regarding increased tariffs it may impose on goods imported from the United States in the wake of an order signed by President Donald Trump earlier this month imposing controversial tariffs on imports of steel and aluminum.

  • March 19, 2018

    ABA Tax Group Needs Guidance On Foreign Partnership Rules

    The Internal Revenue Service needs to quickly clarify whether limits on the recognition of certain gains or losses apply to provisions in the new federal tax law that involve foreign investors in U.S. partnerships, the American Bar Association’s tax group said Monday.

  • March 19, 2018

    Justices Rebuff Bankrupt Manufacturer's Tax Penalty Appeal

    The owner of a manufacturing company that declared bankruptcy 20 years ago must pay the Internal Revenue Service about $400,000 in penalties after the U.S. Supreme Court refused on Monday to entertain an appeal explaining why taxes had not been paid.

  • March 19, 2018

    1st Circ. Rejects Racial Argument, Upholds Fraud Sentences

    A pair of grocery store employees face three-year prison terms after a First Circuit panel on Friday held race was not a factor behind the government rejecting a potential juror in a tax fraud case involving hundreds of bogus tax refunds and more than $2.6 million.

  • March 19, 2018

    Justices Refuse To Hear Pot Co.'s Challenge Of IRS Probe

    The U.S. Supreme Court told a Colorado-based marijuana company on Monday that it would not hear its lawsuit against the Internal Revenue Service alleging the agency lacked authority to investigate criminal activity.

  • March 16, 2018

    Pa. Revenue Agency Asserts $3.8B Tax Claim In PES Ch. 11

    Pennsylvania revenue officials lodged a preemptive $3.8 billion tax claim against bankrupt Philadelphia Energy Solutions LLC on Friday, along with an objection to the big refinery’s prepackaged, high-speed Chapter 11 reorganization.

  • March 16, 2018

    IRS Says It's Protected From Trustee's $3.6M Clawback Suit

    The IRS is pushing back against the $3.6 million clawback suit brought by the bankruptcy trustee of doomed Ponzi vehicle DBSI Inc., telling an Idaho federal court the tax agency is merely a “conduit,” no different from a bank, and therefore immune to this type of avoidance action.

  • March 16, 2018

    3rd Circ. Affirms Plastic Surgeon's 3-Year Prison Sentence

    The Third Circuit on Friday declined to overturn a plastic surgeon's three-year prison sentence and $96,000 fine for tax evasion — and was unswayed by his argument that the trial court erred in excluding evidence that he eventually paid the tax.

  • March 16, 2018

    $57M Pistons Arena Tax Melee Battled Out Before 6th Circ.

    Michigan residents hoping to block $56.5 million in tax dollars from funding the NBA’s Detroit Pistons’ relocation to a new arena said they were deprived of their constitutional rights by not being allowed to vote on how educational funds were redirected, the Sixth Circuit was told Thursday.

  • March 16, 2018

    Minn. Begins Federal Tax Conformity Fight With Gov.'s Plan

    Minnesota Gov. Mark Dayton on Friday proposed significant changes to the state’s tax regime, including switching its starting point for taxation from federal taxable income to federal adjusted gross income, as he announced his plan for conforming to the Tax Cuts and Jobs Act, P.L. 115-97.

  • March 16, 2018

    FERC Pursues Utility, Pipeline Rate Changes Amid Tax Cuts

    The Federal Energy Regulatory Commission on Thursday said it is taking action to make sure that proper adjustments are being made in the electric and energy sectors to ensure rates are fair in the wake of the tax reform measure that Republicans passed last year.

  • March 16, 2018

    Gunster Nabs Ex-Sharp Partners Tax Pro In Fla.

    Gunster has lured a former Sharp Partners PA attorney to its Tampa office, the Florida firm announced Thursday, bolstering its offerings with his practice centered around helping clients navigate international tax controversies and planning initiatives.

Expert Analysis

  • A View From Silicon Valley: Tax Reform And The Tech Industry

    Michele Alexander

    Many of the most discussed provisions in the Tax Cuts and Jobs Act have particular significance for the technology industry, affecting companies’ choices about entity classification, where they do business and hold assets, and the manner in which they receive or make investments. Michele Alexander and Ryan Davis of Bracewell LLP discuss the options.

  • Tax-Exempt Organization Restructurings Made Easier

    Matthew Elkin

    The IRS recently issued Revenue Procedure 2018-15, easing rules for restructuring tax-exempt organizations. Such organizations will no longer be required to file a new exemption application provided the reorganized entity meets certain criteria, say Matthew Elkin and Shira Helstrom of Morgan Lewis & Bockius LLP.

  • Tax Planning In The Age Of Tax Reform: Part 3

    Ellen McElroy

    A number of provisions in the Tax Cuts and Jobs Act require further guidance or technical correction. To ensure that their implementation can withstand subsequent scrutiny, companies should fully document their processes, their analyses and their support for technical positions taken, say attorneys with Eversheds Sutherland LLP.

  • Tax Planning In The Age Of Tax Reform: Part 2

    Ellen McElroy

    Businesses face challenges in implementing the Tax Cuts and Jobs Act, especially given its size and scope and the ambiguities that remain regarding its application. Unfortunately, if administrative guidance and technical corrections are not issued soon, companies may lose valuable rights, say attorneys with Eversheds Sutherland LLP.

  • US District Court To French Tax Authorities: Pas De Probleme

    Robin Greenhouse

    The U.S. and its treaty partners frequently aid each other in tax investigations. Although a taxpayer has procedural rights to quash an IRS summons issued in response to a treaty partner's request for information, a recent Northern District of Illinois decision shows it could be an uphill battle, say Robin Greenhouse and Kevin Spencer of McDermott Will & Emery LLP.

  • Tax Planning In The Age Of Tax Reform: Part 1

    Ellen McElroy

    The Tax Cuts and Jobs Act presents both challenges and opportunities. Companies face immediate hurdles implementing the law without administrative guidance. But the combination of expiring provisions and newly enacted provisions creates unique tax planning opportunities, say attorneys with Eversheds Sutherland LLP.

  • Lawyering A La Carte: Unbundled Dispute Resolution Services

    David Wallace

    There's no reason for limiting unbundled legal services to family law or even pro se litigants. Wider adoption, especially by litigators, presents an opportunity to correct law's distribution and pricing problem, to make justice practically available to all, and to dethrone litigation as the "sport of kings," says New York-based trial lawyer David Wallace.

  • Illinois And Oregon's Turn To Respond To Federal Tax Reform

    Stephen Kranz

    On March 1, Illinois issued guidance explaining how federal tax reform, especially the international and net operating loss provisions, will impact its taxpayers. And Oregon has now addressed the repatriation provisions of federal tax reform and is in the process of repealing its tax haven inclusion provision. Attorneys with McDermott Will & Emery LLP track the changes.

  • You’re Perfect, Now Change: Perfectionism Hurts Lawyers

    Peter Norman

    Like medical professionals, lawyers often resist policies to reduce errors due to the culture of perfectionism that permeates the industry. Autonomy is key to the legal professional's prestige and the outward demonstration of competence is key to maintaining autonomy, says Peter Norman of Winnieware LLC.

  • State Tax After Reform: Where Are We Going?

    State Tax After Reform: Where Are We Going?

    Determining financial statement impact from the state flow-through of federal tax reform will be complicated by changes in state tax policy expected to be adopted. In this video, Steve Kranz and Diann Smith of McDermott Will & Emery LLP discuss the issues with Joe Henchman, executive vice president of the Tax Foundation, and suggest options for companies to protect against negative policy changes.