Tax

  • August 20, 2024

    UN Dives Into Murky Waters Of Taxing Digital Services

    The United Nations has its sights set on cross-border services in the digital economy as its framework convention on tax takes shape, but it remains unclear how countries will define that broad and hotly contested topic as they work toward a treaty.

  • August 20, 2024

    IRS Fee Hikes Threaten Tax Justice For Small Businesses

    The Internal Revenue Service is expected to continue raising the cost for private letter rulings that clarify tax matters and provide taxpayer certainty, prompting concerns among tax professionals that economic justice may become unattainable for small businesses unable to bear these escalating costs.

  • August 20, 2024

    Insider Trading Won't Impact Pilot's Tax Sentencing Guidelines

    A Manhattan federal judge found Tuesday that insider trading allegations won't bump up the guidelines sentencing range for a pilot for U.K. billionaire Joe Lewis who pled guilty to tax evasion.

  • August 20, 2024

    Mass. Parcels Were Properly Valued Despite Construction

    Two parcels of land in a Massachusetts town were properly valued and should not have their value decreased based on construction on a nearby property, the state Appellate Tax Board said in a decision released Tuesday.

  • August 20, 2024

    Allen Matkins Tax Group Leader Jumps To Covington In LA

    Covington & Burling LLP has added to its Los Angeles office a partner with more than 20 years of experience who most recently led Allen Matkins Leck Gamble Mallory & Natsis LLP's tax group, describing the new hire as "one of the country's leading authorities on partnership tax."

  • August 20, 2024

    A Deep Dive Into Law360 Pulse's 2024 Women In Law Report

    The legal industry continues to see incremental gains for female lawyers in private practice in the U.S., according to a Law360 Pulse analysis, with women now representing 40.6% of all attorneys and 51% of all associates.

  • August 20, 2024

    These Firms Have The Most Women In Equity Partnerships

    The legal industry still has a long way to go before it can achieve gender parity at its upper levels. But these law firms are performing better than others in breaking the proverbial glass ceiling that prevents women from attaining leadership roles.

  • August 20, 2024

    EU Tweaks Anti-Subsidy Duties On Chinese EVs

    The European Commission said Tuesday that it is adjusting the anti-subsidy duties that it will charge Chinese exporters of electric vehicles, a move that it had provisionally announced at the beginning of July.

  • August 19, 2024

    Hunter Biden Loses Bid To Duck Tax Case In Calif.

    Hunter Biden cannot escape his criminal tax case set to go to trial next month, a Los Angeles federal judge ruled Monday, saying Biden's latest motion comes too late.

  • August 19, 2024

    Spouse Asks Tax Court To Reconsider Relief Request

    A woman barred from innocent spouse relief on grounds that tax debt related to an erroneously issued refund doesn't qualify asked the U.S. Tax Court to reconsider, saying she's entitled to the break for any unpaid tax liability.

  • August 19, 2024

    H&R Block's Case On In-House Judges' Role Is Paused

    A Missouri federal judge who refused to halt Federal Trade Commission proceedings accusing H&R Block of deceptive advertising agreed to pause, while the company appeals her refusal, a district court case in which the company has argued that administrative judges should be booted from the proceedings.

  • August 19, 2024

    Trump's Immunity Appeal May Delay Sentencing, DA Says

    Prosecutors will not oppose Donald Trump's request to delay sentencing in his New York hush money case, currently set for next month, while he seeks to dismiss his conviction in light of the U.S. Supreme Court's presidential immunity ruling, agreeing that an immediate appeal may upend the proceedings anyway.

  • August 16, 2024

    Receiver Went Too Far In Settling Nate Paul Entity Dispute

    A Texas appeals court found this week that a receiver acted beyond the scope of his authority when he settled a dispute between a lender and an entity associated with embattled real estate developer Nate Paul.

  • August 16, 2024

    Drexel Accounting Prof Convicted Of Evading Tax On $3.3M

    New Jersey federal jurors have convicted a Drexel University accounting professor on charges of tax evasion and filing false tax returns after the government accused him of failing to report $3.3 million in income from a Trenton pharmacy.

  • August 16, 2024

    Harris Proposes Tax Break For Homebuilders

    Vice President Kamala Harris, the presumptive Democratic nominee for president, proposed several housing-related tax proposals, including creating a tax incentive for homebuilders that sell to first-time homebuyers, during a campaign speech Friday.

  • August 16, 2024

    UN Votes For Global Services As First Priority Under Tax Pact

    The United Nations voted Friday to make taxation of cross-border services the most prioritized topic for a legally binding agreement to be finalized by late 2027 alongside the organization's framework convention on international tax cooperation.

  • August 16, 2024

    TCJA's Estate Tax Treatment Shouldn't Change, Panel Told

    If the Tax Cuts and Jobs Act's estate tax exemption increase is allowed to lapse in 2025, many family farms in the Midwest would face tough choices, including whether to sell to large corporations, panelists told the House of Representatives' Ways and Means Committee on Friday.

  • August 16, 2024

    Atty Gets 32 Months In Prison For Bribing Chicago Alderman

    An Illinois federal judge on Friday sentenced an immigration attorney and real estate developer convicted of bribing former Chicago Alderman Ed Burke to two years and eight months in prison, maintaining prison time is warranted because the lawyer initiated the bribe and tried to hide it from federal agents and the grand jury.

  • August 16, 2024

    Ch. 7 Trustee Can't Recover Tax Payment, States Tell Justices

    A group of roughly two dozen states threw their support behind the federal government in asking the U.S. Supreme Court to overturn a ruling that forced the IRS to return a tax payment after a bankruptcy trustee argued it was a fraudulent transfer and recoverable under state law.

  • August 16, 2024

    NC AG Readies Appeal In Fight Over Smithfield Foods Funds

    North Carolina Attorney General Josh Stein is taking a fight over millions of dollars in environmental grants to the state appeals court, after a trial judge found the funds should be exclusively set aside for use in public schools.

  • August 16, 2024

    Taxation With Representation: Cleary, Kirkland, Skadden

    In this week's Taxation with Representation, Mars Inc. sets a 2024 record with its $36 billion acquisition of Kellanova, Carlyle inks a $3.8 billion purchase with Baxter International Inc., and Performance Food Group Co. agrees to a $2.1 billion cash deal with Cheney Bros. Inc.

  • August 16, 2024

    Connecticut Legislation Passed In 2024: A Midyear Report

    While Connecticut workers may rejoice over a major expansion of paid sick leave that will begin to roll out next year, businesses will need to spend some time and effort getting ready to implement the new law, attorneys told Law360.

  • August 19, 2024

    New Jersey Legislation To Watch: A Midyear Report

    New Jersey proposals for a corporate transit tax and mandatory business showdowns during sweltering weather have generated concerns from industry sectors fatigued by rising costs, while the rise of artifical intelligence and corresponding legislation appears to have united those fearing the digital-age hazard of "deepfakes."

  • August 15, 2024

    Pa. District's Appeal Method Is Constitutional, Court Affirms

    A Pennsylvania Court of Common Pleas correctly ruled that a school district did not violate the state's uniformity clause when using a monetary threshold to decide which property tax assessments to appeal, the state Commonwealth Court affirmed Thursday.

  • August 15, 2024

    Judge Wary Of Paxton's Bid To 'Annihilate' Houston Nonprofit

    A Texas state judge indicated Thursday that he was hesitant to allow Texas Attorney General Ken Paxton to file a suit seeking to take away an immigrant-led nonprofit's corporate charter, telling attorneys that Paxton was asking him "to go zero to 100" by seeking "annihilation" of the entity.

Expert Analysis

  • Series

    Walking With My Dog Makes Me A Better Lawyer

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    Thanks to my dog Birdie, I've learned that carving out an activity different from the practice of law — like daily outdoor walks that allow you to interact with new people — can contribute to professional success by boosting creativity and mental acuity, as well as expanding your social network, says Sarah Petrie at the Massachusetts Attorney General’s Office.

  • Think Like A Lawyer: Follow The Iron Rule Of Trial Logic

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    Many diligent and eager attorneys include every good fact, point and rule in their trial narratives — spurred by the gnawing fear they’ll be second-guessed for leaving something out — but this approach ignores a fundamental principle of successful trial lawyering, says Luke Andrews at Poole Huffman.

  • Circuit Split Brews Over Who's A Securities Seller Under Act

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    A Securities Act section that creates private liability for the sale of an unregistered security is rapidly becoming a favored statute for plaintiffs to wield against participants in both the digital asset and traditional securities markets, but the circuit courts have diverged on who may be held liable for these violations, say Jeffrey L. Steinfeld and Daniel Aronsohn at Winston & Strawn.

  • The Art Of Asking: Leveraging Your Contacts For Referrals

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    Though attorneys may hesitate to ask for referral recommendations to generate new business, research shows that people want to help others they know, like and trust, so consider who in your network you should approach and how to make the ask, says Rebecca Hnatowski at Edwards Advisory.

  • Unpacking The Bill To Extend TCJA's Biz-Friendly Tax Breaks

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    Attorneys at Skadden examine how a bipartisan bill currently being considered by the U.S. Senate to save the Tax Cuts and Jobs Act's tax breaks for research and development costs, and other expiring business-friendly provisions, would affect taxpayers.

  • Series

    Being An Equestrian Makes Me A Better Lawyer

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    Beyond getting experience thinking on my feet and tackling stressful situations, the skills I've gained from horseback riding have considerable overlap with the skills used to practice law, particularly in terms of team building, continuing education, and making an effort to reset and recharge, says Kerry Irwin at Moore & Van Allen.

  • Deciding What Comes At The End Of WTO's Digital Tariff Ban

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    Companies that feel empowered by the World Trade Organization’s recent two-year extension of the ban on e-commerce tariffs should pay attention to current negotiations over what comes after the moratorium expires, as these agreements will define standards in international e-commerce for years to come, say Jan Walter, Hannes Sigurgeirsson and Kulsum Gulamhusein at Akin Gump.

  • 4 Ways To Refresh Your Law Firm's Marketing Strategy

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    With many BigLaw firms relying on an increasingly obsolete marketing approach that prioritizes stiff professionalism over authentic connection, adopting a few key communications strategies to better connect with today's clients and prospects can make all the difference, say Eric Pacifici and Kevin Henderson at SMB Law.

  • Consider 2 Alternative Exit Plans In RE Distress Scenarios

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    In the face of an impending wave of foreclosures, lenders and borrowers alike should consider two exit strategies — deed-in-lieu of foreclosure and consent foreclosure — that can mitigate potential costs and diminution in property value that could be incurred during a lengthy proceeding, say attorneys at BCLP.

  • Tips For Balanced Board Oversight After A Cyberincident

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    The U.S. Securities and Exchange Commission's cybersecurity disclosure rules, as well as recent regulatory enforcement actions bringing board governance under scrutiny, continue to push boards toward active engagement in relation to their cyber-oversight role, despite it being unclear what a board's level of involvement should be, say attorneys at Alston & Bird.

  • Opinion

    SC's Courts Have It Wrong On Amazon Marketplace Sales Tax

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    The South Carolina Supreme Court should step in and correct the misguided change in tax law effectuated by lower court rulings that found Amazon owes state sales tax for marketplace sales made prior to the U.S. Supreme Court’s Wayfair v. South Dakota decision in 2018, says Hayes Holderness at the University of Richmond.

  • IRS Sings New Tune: Whistleblower Form Update Is Welcome

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    In a significant reform at the Internal Revenue Service's Whistleblower Office, the recently introduced revisions to the Form 211 whistleblower award application use new technology and a more intuitive approach to streamline the process of reporting allegations of tax fraud committed by wealthy individuals and companies, says Benjamin Calitri at Kohn Kohn.

  • Series

    Whitewater Kayaking Makes Me A Better Lawyer

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    Whether it's seeing clients and their issues from a new perspective, or staying nimble in a moment of intense challenge, the lessons learned from whitewater kayaking transcend the rapids of a river and prepare attorneys for the courtroom and beyond, says Matthew Kent at Alston & Bird.

  • This Earth Day, Consider How Your Firm Can Go Greener

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    As Earth Day approaches, law firms and attorneys should consider adopting more sustainable practices to reduce their carbon footprint — from minimizing single-use plastics to purchasing carbon offsets for air travel — which ultimately can also reduce costs for clients, say M’Lynn Phillips and Lisa Walters at IMS Legal Strategies.

  • Energy Community Tax Credit Boost Will Benefit Wind Sector

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    Recent Internal Revenue Service guidance broadening tax credit eligibility to more parts of offshore wind facilities in so-called energy communities is a win for the industry, which stands to see more projects qualify for a particularly valuable bonus in the investment tax credit context due to the capital-intensive nature of offshore wind projects, say attorneys at Troutman Pepper.

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