Tax

  • September 10, 2024

    Ex-Conn. Town Atty Slams Official's Defamation Suit Defense

    The former attorney for Newington, Connecticut, and the town's tax assessor bickered over whether the latter's allegedly defamatory sentiments linked to now-dismissed ethics complaints were made publicly, with the lawyer insisting the statements were made to select groups of individuals and therefore weren't motivated by concern for the municipality's citizens.

  • September 10, 2024

    Werfel Asked To Clarify How To Treat R&D Costs In M&A

    Accounting firm RSM US LLP, in a letter released Tuesday, asked Internal Revenue Commissioner Daniel Werfel to clarify how to treat research and development costs when a taxpayer disposes of an entire business in a mergers and acquisitions transaction.

  • September 10, 2024

    Manatt Phelps Grows Pot Practice With Special Counsel Hire

    Manatt Phelps & Phillips LLP on Tuesday revealed the latest expansion of its cannabis and CBD practice, saying it has hired a former Barclay Damon LLP attorney who specializes in corporate, tax and regulatory issues for clients including retail dispensary licensees, cultivators and multistate operators.

  • September 10, 2024

    House Panel To Consider Axing $600 Payment Reporting Law

    The House Ways and Means Committee is set to consider legislation Wednesday that would repeal a law requiring peer-to-peer payment platforms such as Venmo and PayPal to report aggregate payments of $600 or more, among other bills.

  • September 10, 2024

    FCC Chair Vows High Court Fight Over Universal Service

    Federal Communications Commission Chair Jessica Rosenworcel told educators the agency will ask the U.S. Supreme Court to overturn a recent Fifth Circuit decision against the Universal Service Fund, the federal program that subsidizes telecom service to low-income and hard-to-reach areas.

  • September 10, 2024

    Trailer Co. Seeks Refund Of $4M In Highway Excise Taxes

    The Internal Revenue Service erroneously assessed federal highway excise taxes on a South Dakota trailer manufacturer even though the agency had already determined that the trailers were exempt from the tax, the company told a federal court as it sought a tax refund of some $4 million.

  • September 10, 2024

    IRS Extends Tax Deadlines For NY, Conn. Storm Victims

    Victims of severe storms and flooding in New York and Connecticut will have more time to file some tax returns and make estimated payments, the Internal Revenue Service announced Tuesday.

  • September 09, 2024

    Pa. Supreme Court Snapshot: Benefits, Cannabis, Taxes

    The Pennsylvania Supreme Court's September schedule will have the justices pondering when to cancel tax exemptions for hospitals, if stormwater fees are taxes in disguise, and the potential resurrection of requiring medical marijuana products to be tested and approved by two separate laboratories.

  • September 09, 2024

    Russia Says DC Circ. Ruling Erodes $5B Award To Yukos

    A recent D.C. Circuit ruling that Spain must comply with $395 million in arbitration awards awarded to Yukos Oil's financing arm undermines the company's $5 billion claim against Russia because the country, unlike Spain, never ratified the international treaty on which the court relied, Russia has told a D.C. federal court.

  • September 09, 2024

    Investment Firm Can't Fell Timber Co.'s Carbon Offset Suit

    The North Carolina Business Court has trimmed a timber company's lawsuit accusing a forestland investment firm of overstating land's carbon offset value in a sale, but let most of the claims escape being felled, reasoning that the timber company's complaint alleged plausible accusations of contract violations.

  • September 09, 2024

    Owner Of Mass., NH Eateries Cops To $2M Tax Fraud

    The owner of three restaurants in Massachusetts and New Hampshire has pled guilty to failing to pay approximately $2 million in employment and state and local meals taxes over a six-year period, the U.S. attorney's office in Massachusetts announced Monday.

  • September 09, 2024

    Tax Court's Take Shouldn't Loom Over Kyocera Case, US Says

    The U.S. Tax Court's opinion that allowed a company to treat a gross-up for taxes paid by its foreign subsidiaries as a dividend received goes against what Congress intended and shouldn't be applied to Kyocera's similar claims, the U.S. Department of Justice told a South Carolina federal court.

  • September 09, 2024

    Bradley Arant Adds Katten Partner In Dallas

    Bradley Arant has hired a six-and-a-half-year veteran of Katten Muchin Rosenman LLP who is joining the firm's corporate and securities practice in Dallas as a partner.

  • September 09, 2024

    EU Should Loosen Merger Rules To Compete, Report Says

    The European Union should loosen its merger rules and reform trade policy and the energy market in order to boost EU competitiveness enough to catch up with the U.S. and China, a former European Central Bank president reported Monday.

  • September 09, 2024

    Security Contractor Says It's Owed $3.6M In Worker Credits

    A government contractor sued the U.S. for a nearly $3.6 million tax refund in Maryland federal court, claiming the Internal Revenue Service hasn't responded to its request for pandemic-era employee retention credits for the first three quarters of 2021.

  • September 09, 2024

    Ore. Tax Court Nixes Parcel Owners' Bid To Raise Valuation

    The Oregon Tax Court rejected an attempt by owners of a property to increase its tax valuation, saying the owners failed to show they were aggrieved by the valuation and did not first appeal to the local assessment board.

  • September 06, 2024

    2nd Circ. Won't Revive Solar Cos.' National Grid Tax Suit

    The Second Circuit declined to revive one of two proposed class actions brought by solar companies against National Grid alleging it illegally charged them for taxes in an effort to dampen competition from renewables, finding on Friday that the district court properly determined it lacked subject matter jurisdiction.

  • September 06, 2024

    Calif. Gov. Targets Hemp Intoxicants With Emergency Ban

    California Gov. Gavin Newsom on Friday announced emergency regulations banning products derived from industrial hemp that contain any intoxicating cannabinoids, and setting an age minimum of 21 years to purchase hemp products.

  • September 06, 2024

    $111M Tax Fraud Scheme's Ringleader Sentenced To 14 Years

    The leader of a scheme to steal the identities of taxpayers and pose as their accountants to commit $111 million in tax fraud was sentenced Friday to more than 14 years in prison by a Texas federal judge, according to the U.S. Department of Justice.

  • September 06, 2024

    IRS Urges Safe And Legal Sports Betting As NFL Kicks Off

    With the professional football season just barely underway, and in the wake of a few bombshell betting scandals, IRS Criminal Investigation is reminding the public to bet safely and legally, warning that illegal gambling activities can lead to criminal charges ranging from money laundering to tax evasion.

  • September 06, 2024

    FDII Covers Overseas Services For US Gov't, Memo Says

    Government contractors that provide services to U.S. operations overseas are allowed to claim the deduction for foreign-derived intangible income, the IRS said in one of two internal memos released Friday that address foreign income issues.

  • September 06, 2024

    Colo. Counties Sue State Over $25M Mining Tax Fund Transfer

    Seven Colorado counties filed a lawsuit in Denver District Court on Thursday against the state over legislation transferring $25 million in revenue generated by a tax on mineral extraction, wiping out a fund on which the counties "have come to heavily rely" and warning of severe consequences for their communities.

  • September 06, 2024

    Steptoe Adds Co-Leader To Restructuring & Insolvency Group

    Steptoe LLP has expanded its transactions and tax practice by hiring a New York-based partner as a co-leader of the firm's insolvency and restructuring team.

  • September 06, 2024

    China Complains To WTO About Canada EV Surtaxes

    China is looking for the World Trade Organization to step in to address proposed Canadian surtaxes on imported Chinese electric vehicles, steel and aluminum, taxes that a spokesperson for China's Ministry of Commerce said Friday violate the organization's rules.

  • September 06, 2024

    Trump Sentencing Pushed Back Until After Election

    The New York judge overseeing Donald Trump's hush money case said Friday he will not sentence the former president before Election Day, pushing the hearing date from Sept. 18 to Nov. 26 in an effort to avoid the appearance of political considerations.

Expert Analysis

  • Opinion

    A Tale Of 2 Trump Cases: The Rule Of Law Is A Live Issue

    Author Photo

    The U.S. Supreme Court’s decision this week in Trump v. U.S., holding that former President Donald Trump has broad immunity from prosecution, undercuts the rule of law, while the former president’s New York hush money conviction vindicates it in eight key ways, says David Postel at Henein Hutchison.

  • Series

    Boxing Makes Me A Better Lawyer

    Author Photo

    Boxing has influenced my legal work by enabling me to confidently hone the skills I've learned from the sport, like the ability to remain calm under pressure, evaluate an opponent's weaknesses and recognize when to seize an important opportunity, says Kirsten Soto at Clyde & Co.

  • Opinion

    Industry Self-Regulation Will Shine Post-Chevron

    Author Photo

    The U.S. Supreme Court's Loper decision will shape the contours of industry self-regulation in the years to come, providing opportunities for this often-misunderstood practice, says Eric Reicin at BBB National Programs.

  • 3 Ways Agencies Will Keep Making Law After Chevron

    Author Photo

    The U.S. Supreme Court clearly thinks it has done something big in overturning the Chevron precedent that had given deference to agencies' statutory interpretations, but regulated parties have to consider how agencies retain significant power to shape the law and its meaning, say attorneys at K&L Gates.

  • Roundup

    After Chevron

    Author Photo

    In the month since the U.S. Supreme Court overturned the Chevron deference standard, this Expert Analysis series has featured attorneys discussing the potential impact across 26 different rulemaking and litigation areas.

  • Opinion

    Atty Well-Being Efforts Ignore Root Causes Of The Problem

    Author Photo

    The legal industry is engaged in a critical conversation about lawyers' mental health, but current attorney well-being programs primarily focus on helping lawyers cope with the stress of excessive workloads, instead of examining whether this work culture is even fundamentally compatible with lawyer well-being, says Jonathan Baum at Avenir Guild.

  • Series

    Skiing And Surfing Make Me A Better Lawyer

    Author Photo

    The skills I’ve learned while riding waves in the ocean and slopes in the mountains have translated to my legal career — developing strong mentor relationships, remaining calm in difficult situations, and being prepared and able to move to a backup plan when needed, says Brian Claassen at Knobbe Martens.

  • Tracking Implementation Of IRA Programs As Election Nears

    Author Photo

    As the Biden administration races to cement key regulations implementing the Inflation Reduction Act, a number of the law's programs and incentives are at risk of delay or repeal if Republicans retake control of Congress, the White House or both — so stakeholders should closely watch ongoing IRA implementation and guidance, say attorneys at Squire Patton.

  • Unpacking The Circuit Split Over A Federal Atty Fee Rule

    Author Photo

    Federal circuit courts that have addressed Rule 41(d) of the Federal Rules of Civil Procedure are split as to whether attorney fees are included as part of the costs of a previously dismissed action, so practitioners aiming to recover or avoid fees should tailor arguments to the appropriate court, says Joseph Myles and Lionel Lavenue at Finnegan.

  • Takeaways From Justices' Redemption Insurance Decision

    Author Photo

    The U.S. Supreme Court’s recent decision in Connelly v. U.S. examines how to determine the fair market value of shares in a closely held company for estate tax purposes, and clarifies how life insurance held by the company to enable redemption of a decedent’s shares affects that calculation, says Evelyn Haralampu at Burns & Levinson.

  • 6 Tips For Maximizing After-Tax Returns In Private M&A Deals

    Author Photo

    With potential tax legislation likely to spur a surge in private business sales, sellers can make the most of after-tax proceeds with strategies that include price allocation and qualified investment options, say Isaac Grossman and Daniel Studin at Morrison Cohen.

  • After A Brief Hiccup, The 'Rocket Docket' Soars Back To No. 1

    Author Photo

    The Eastern District of Virginia’s precipitous 2022 fall from its storied rocket docket status appears to have been a temporary aberration, as recent statistics reveal that the court is once again back on top as the fastest federal civil trial court in the nation, says Robert Tata at Hunton.

  • Factors For London Cos. To Consider If Adding US Listings

    Author Photo

    Recent reports of a continuing valuation gap between London and New York have resulted in some London-listed companies considering U.S. listings to gain an increased investor base, but with various obligations and implications involved in such a move, organizations should consider whether there is a real benefit from trading there, say lawyers at Winston & Strawn.

  • Recruitment Trends In Emerging Law Firm Frontiers

    Author Photo

    BigLaw firms are facing local recruitment challenges as they increasingly establish offices in cities outside of the major legal hubs, requiring them to weigh various strategies for attracting talent that present different risks and benefits, says Tom Hanlon at Buchanan Law.

  • Series

    Glassblowing Makes Me A Better Lawyer

    Author Photo

    I never expected that glassblowing would strongly influence my work as an attorney, but it has taught me the importance of building a solid foundation for your work, learning from others and committing to a lifetime of practice, says Margaret House at Kalijarvi Chuzi.

Want to publish in Law360?


Submit an idea

Have a news tip?


Contact us here
Can't find the article you're looking for? Click here to search the Tax archive.
Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!