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  • August 17, 2018

    Manafort Judge Talks Threats In Not Releasing Jurors' Names

    The Virginia federal judge overseeing the Paul Manafort trial on Friday revealed he has received threats during the case and expressed concern that revealing the names of jurors deliberating the fate of the former Trump campaign chair could put their “peace and safety” at risk.

  • August 17, 2018

    7th Circ. Backs Officers Of Defunct Bank Co. On $76M Refund

    The Seventh Circuit on Friday upheld the dismissal of a bankruptcy trustee's suit against the officers of a defunct bank holding company for keeping a $76 million tax refund instead of disbursing it to the company’s failing banks.

  • August 17, 2018

    King & Wood Mallesons Nabs Ex-Cahill Gordon Tax Expert

    King & Wood Mallesons LLP announced it has hired a former Cahill Gordon & Reindel LLP tax partner experienced in investments, capital markets and private investment funds for the firm’s New York office to boost its U.S. operations.

  • August 17, 2018

    NJ Appeals Court Won’t Revive Grocery Sales Tax Challenge

    The Appellate Division of the New Jersey Superior Court largely upheld a trial court decision Friday rejecting a class action that accused two grocery stores of illegally charging higher sales tax than permitted under state law.

  • August 17, 2018

    Taxation With Representation: Akin Gump, Wachtell, Kirkland

    In this week’s Taxation With Representation, Diamondback snapped up Energen for $9.2 billion, Federal Street Acquisition Corp. bought Universal Hospital Services for $1.7 billion, Cabot Microelectronics Corp. bought KMG Chemicals for $1.6 billion and Best Buy acquired GreatCall for $800 million.

  • August 17, 2018

    US Gov't Tells High Court Wash. Tribe Must Pay Fuel Tax

    The U.S. Department of Justice has filed an amicus brief urging the U.S. Supreme Court to find that a Native American tribe should be subject to the state of Washington's fuel tax when importing that product onto its reservation.

  • August 17, 2018

    Rising Star: Shearman & Sterling's Nathan Tasso

    Shearman & Sterling LLP partner Nathan Tasso's tax work in an estate’s fight against the Internal Revenue Service helped break new ground in an area that has seen little legal authority in the past, earning him a spot as one of five tax attorneys under age 40 honored by Law360 as Rising Stars.

  • August 17, 2018

    Denmark Widens £1B Tax Fraud Suit, Includes UK City Firms

    Denmark’s tax authority has filed a suit at the High Court in London against 71 individuals and companies, including many in the financial services sector, which it alleges took part in a massive multinational fraud to cheat the Danish government out of £1 billion ($1.3 billion) in reimbursed taxes.

  • August 16, 2018

    Will Law Schools Start Counting ‘Generation ADA’?

    No one is tracking law students with disabilities to see where the education system may be failing them, but some advocates are working to change this dynamic and build a better pipeline.

  • August 16, 2018

    8th Circ. Voids Tax Court Ruling In $1.36B Medtronic Case

    The Eighth Circuit struck a blow Thursday to Medtronic Inc. in its $1.36 billion dispute with the Internal Revenue Service, vacating a favorable U.S. Tax Court decision after finding that the judge in the case had not justified the pricing.

  • August 16, 2018

    Tax Groups Urge Court To Find Wash. Tribe Must Pay Fuel Tax

    Two tax organizations filed an amicus brief with the Supreme Court Thursday, urging the court to find that a Native American tribe should be subject to the state of Washington’s fuel tax when operating outside its reservation.

  • August 16, 2018

    DC Appeals Court Ends FCA Suit Against Verizon, Comcast

    A D.C. appellate panel on Thursday backed a trial court’s dismissal of a False Claims Act lawsuit against Verizon, Comcast, MCI Worldcom and several other telecommunications companies that accused the companies of failing to pay more than $29 million in emergency 911 taxes.

  • August 16, 2018

    Neb. Officials Seek To End Tribal Cos.' Tobacco Lawsuit

    Nebraska officials urged a federal court to toss a suit filed by two Winnebago Tribe of Nebraska-owned cigarette companies challenging the application of state laws, saying the state has immunity to the suit and that its laws aren't blocked by the U.S. Constitution or federal law.

  • August 16, 2018

    Hatch Seeks To Clarify Intent Of NOL Rule In Tax Overhaul

    Senate Finance Committee Chairman Orrin Hatch, R-Utah, sought on Thursday to clarify congressional intent behind the net operating loss rule included in last year’s federal tax overhaul, offering specifics in a letter signed by the committee’s Republican members and sent to the Treasury Department.

  • August 16, 2018

    Ariz. Judge Upholds Ballot Question To Raise Income Taxes

    An Arizona judge Thursday tossed a challenge to a proposed question for the Nov. 6 ballot that would ask voters to raise state income tax rates for high-earners to fund education, saying in part that the explanation of the tax increases was not misleading.

  • August 16, 2018

    A Chat With Ogletree Knowledge Chief Patrick DiDomenico

    In this monthly series, Amanda Brady of Major Lindsey & Africa interviews management from top law firms about the increasingly competitive business environment. Here we feature Patrick DiDomenico, chief knowledge officer at Ogletree Deakins Nash Smoak & Stewart PC.

  • August 15, 2018

    In Closing, Manafort Defense Says Gov't Is 'Desperate'

    Attorneys for former Trump campaign chairman Paul Manafort threw their final punches Wednesday in an effort to knock down the government’s tax and bank fraud case against him in Virginia federal court, painting cooperating witness Rick Gates as a serial liar and slamming the prosecution as “desperate” during closing arguments.

  • August 15, 2018

    Out-Of-State Drugs Can Be Taxed, Minn. High Court Rules

    Minnesota can apply its drug tax to pharmacies outside the state that deliver prescription drugs into Minnesota, the state’s highest court ruled Wednesday.

  • August 15, 2018

    $10.5B Calif. Property Tax Measure Could Head To 2020 Ballot

    Supporters of a potential California ballot measure that would change how large commercial and industrial properties are taxed — potentially increasing property tax revenues by up to $10.5 billion annually — say they’ve gathered enough signatures to send the question to the ballot in 2020.

  • August 15, 2018

    Transfer Pricing Must Factor In Mobility, Specialist Says

    With people traveling for business more than ever, companies need to make sure their employees’ work aligns with their locations when setting transfer pricing policies during a merger, a PwC specialist said during a webcast Wednesday.

Expert Analysis

  • Why 25% Foreign-Owned Blocker Corps. Must File Form 5472

    Brad Wagner

    The IRS has recently become very aggressive in asserting penalties for failing to file a Form 5472 — used to identify potential tax issues with regard to transactions between a U.S. corporation and related foreign shareholder, says Brad Wagner of Wagner Duys & Wood LLLP.

  • Plan Sponsors Should Consider Pension De-Risking

    Elliot Dinkin

    For some plan sponsors, the prospect of engaging in a pension risk transfer may seem cost-prohibitive. However, the cost of transferring risk is lower than what many sponsors perceive, says Elliott Dinkin of Cowden Associates Inc. 

  • Series

    Judging A Book: Lipez Reviews 'Last Great Colonial Lawyer'

    Judge Kermit Lipez

    In his new book, "The Last Great Colonial Lawyer: The Life and Legacy of Jeremiah Gridley," Charles McKirdy argues that Gridley — someone I had never heard of — was the last great colonial lawyer, and that his cases illuminate his times. The author largely substantiates both claims, says First Circuit Judge Kermit Lipez.

  • As IRS Eases Reporting, States Target Dark Money Reforms

    Amber Maltbie

    At the same time that the IRS is making it easier for nonprofits to shield their donors from inadvertent disclosure by eliminating a reporting requirement on annual tax filings, some states, such as Maine and Montana, continue to trend toward greater disclosure of donors to politically active nonprofits. It is thus imperative that nonprofits are cognizant of the complex and inconsistent rules among federal, state and local jurisdictions, say attorneys at Nossaman.

  • Long-Awaited Bonus Depreciation Insight For Partnerships

    Junaid Chida

    Earlier this month, the IRS finally released proposed regulations under the bonus depreciation provisions of the Tax Cuts and Jobs Act. The guidance provides long-awaited clarification on the availability of 100 percent bonus depreciation to partnership basis adjustments, say attorneys at O'Melveny & Myers LLP.

  • Tax Enforcers Unite Against International Tax Crime

    Kyle Womboldt

    In light of the launch of the Joint Chiefs of Global Tax Enforcement alliance against transnational tax crime and money laundering, it is more important than ever for corporations and professional services firms to carefully manage their exposure to higher risk clients and business activity, say Kyle Wombolt and Jeremy Birch of Herbert Smith Freehills LLP.

  • A Close Look At IRS Proposed Pass-Through Deduction Rules

    Stephen Looney

    Last week, the IRS proposed regulations under Internal Revenue Code Section 199A, providing guidance on the new deduction available to pass-through entities and sole proprietorships. Mostly taxpayer friendly, the lengthy proposed regs are likely to undergo some changes before becoming finalized, say Stephen Looney and Edward Waters of Dean Mead Egerton Bloodworth Capouano & Bozarth PA.

  • Illinois Tax Talk: Penalty Application And Abatement

    Samantha Breslow

    When faced with an audit, taxpayers should become familiar with the potential penalties that may result from underpayment or missed filing deadlines, the legal basis for relief and the process and requirements for seeking penalty abatement, says Samantha Breslow of Horwood Marcus & Berk Chtd.

  • Unclear Which Way Wind Blows After Reversal Of Alta Wind

    Julie Marion

    The Federal Circuit recently reversed the U.S. Court of Federal Claims decision in Alta Wind v. United States, finding the trial court's method of valuing the wind farm properties did not accurately represent their fair market value. The decision was unclear, however, about how the lower court should determine the value on remand, leaving the renewable energy industry with a number of questions, say attorneys at Latham & Watkins LLP.

  • Maine Residents Can't Deduct NH Business Taxes

    Jonathan Block

    After a recent Maine Supreme Judicial Court decision in Goggin v. State Tax Assessor favored the state, there appears to be no respite in sight for Maine resident taxpayers who own pass-through entities doing business in New Hampshire and feel unfairly taxed, says Jonathan Block of Pierce Atwood LLP.