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Tax
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April 10, 2024
Ex-Trump Finance Chief Weisselberg Jailed For Perjury
A New York state judge on Wednesday sentenced former Trump Organization Chief Financial Officer Allen Weisselberg to five months in jail for lying under oath in the attorney general's civil fraud case against Donald Trump and his business associates, imprisoning a close ally of the former president on the eve of his hush-money trial.
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April 09, 2024
Treasury Proposes Long-Awaited Stock Buyback Tax Rules
The U.S. Treasury Department proposed a pair of long-awaited rules Tuesday that detail the calculation and reporting of a new excise tax assessed to publicly traded corporations that recently bought back their own shares of stock on the open market.
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April 09, 2024
Healthcare Co. Can't Sue Ex-Exec For Causing Canada Tax Hit
A Colorado federal judge shot down a pharmacy automation company's suit alleging its former chief commercial officer cost it nearly CA$1.2 million ($907,000) in Canadian taxes by not telling his employer he had moved out of the country, saying the company hasn't shown it suffered any damage as a result.
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April 09, 2024
Poland Adopts Digital Platform Reporting Rules
Poland's Council of Ministers approved a measure Tuesday implementing the European Union's tax information reporting procedures for digital platform operators, known as DAC7, the country's tax authority said.
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April 09, 2024
UK Court Affirms Sweet VAT Ruling For Jumbo Marshmallows
Jumbo-size marshmallows are not candy like regular marshmallows because they're meant to be roasted, so they qualify for a value-added tax exemption for food, the U.K. Upper Tribunal ruled in upholding a lower court's findings.
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April 09, 2024
Trump Opposes NY Monitor Probe After Exec's Perjury
Attorneys for Donald Trump argued against allowing a court-appointed monitor of the Trump Organization to look into supposed discovery lapses in the New York attorney general's civil business fraud case related to a perjury plea by the company's former longtime Chief Financial Officer Allen Weisselberg.
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April 09, 2024
Pittsburgh Schools Sue To Force Countywide Reassessment
The school district serving the city of Pittsburgh has filed a lawsuit in state court to compel Allegheny County to conduct a countywide reassessment of real estate values, arguing that taxation starting from a 12-year-old base level is putting homeowners in some neighborhoods at an unfair and unconstitutional disadvantage.
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April 09, 2024
Man's Unusual Filing Methods Led To Liability, 4th Circ. Told
The Fourth Circuit should uphold a U.S. Tax Court decision allowing the IRS to collect the tax liability of a technology consultant who for years used unusual filing methods, the government argued Tuesday, saying the court correctly noted he contributed to any confusion over his bill.
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April 09, 2024
Former Atlanta CFO Pleads Guilty To Stealing City Funds
The city of Atlanta's former chief financial officer, Jim Beard, has pled guilty in a federal case alleging he obstructed an Internal Revenue Service audit and stole thousands of dollars in city funds to use for personal travel and the purchase of two custom-built machine guns.
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April 09, 2024
Fund Managers Want Ga. Attys' Tax Shelter Fraud Suit Tossed
A fund manager accused of misleading investors into an illegal tax shelter want a Georgia federal court to throw out the proposed class action against them, claiming the facts alleged in an updated complaint still aren't specific enough for court.
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April 09, 2024
Trump Loses 2nd Appellate Bid To Pause NY Criminal Trial
A New York state appellate judge refused Tuesday to delay Donald Trump's upcoming criminal hush-money trial while the former president challenges a gag order, just one day after a different appeals judge declined to halt the trial due to supposed jury pool bias.
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April 08, 2024
NRA, LaPierre, Execs Seek To Ax $6M Misconduct Verdict
The National Rifle Association, its longtime CEO Wayne LaPierre and two other executives asked a New York judge to throw out a Manhattan jury's verdict that they improperly used donor money, among other misconduct, and owe the gun rights group a total of $6.4 million.
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April 08, 2024
No Tax Cuts Or Hikes In Va. Budget, Youngkin Now Says
Virginia would have neither tax cuts nor tax increases in the next biennial budget under an updated plan released Monday by Gov. Glenn Youngkin, who said he knew he must compromise with the Democratic-run General Assembly.
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April 08, 2024
Ex-IRS Criminal Investigations Head Joins Crypto Data Firm
A newly retired chief of the Internal Revenue Service's law enforcement arm is taking his skills to blockchain analytics firm Chainalysis, where he'll help federal agencies and crypto firms leverage Chainalysis' data and solutions to combat financial crime.
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April 08, 2024
FTC Defends In-House Judges' Role In H&R Block Case
H&R Block wrongly claimed that the Federal Trade Commission's administrative law judges should be disqualified from overseeing an administrative proceeding accusing the tax preparation company of deceptive advertising, FTC lawyers told the agency, arguing the judges don't have illegal job protections.
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April 08, 2024
Mo. Atty Loses Last-Ditch Bid To Dodge NC Tax Fraud Trial
A St. Louis attorney lost a last-minute attempt to escape his upcoming tax fraud trial based on claims that the prosecution was never properly authorized, with a North Carolina federal judge finding that the government did mislead the court but nonetheless had the right stamp of approval.
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April 08, 2024
Jackson Hewitt Preparers Want First OK On $10.8M Deal
Former Jackson Hewitt Inc. workers have reached a $10.8 million settlement with their former employer over claims the company's franchisees entered into an anti-competitive no-poach agreement despite the provision being removed from the company's franchise agreements, according to a Friday motion.
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April 08, 2024
EU Tax Single Filing Would Aid Small-Biz Trade, Official Says
A proposal allowing small businesses in the European Union to file a single tax return with the administration of the business' head office as opposed to with every member country where the entity does business would cut compliance costs and encourage trade, an EU official said.
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April 08, 2024
Trump Can't Move Hush Money Trial, NY Appeals Judge Says
A New York appellate judge on Monday denied Donald Trump's request to halt his upcoming hush money trial due to what the former president cast as a hopelessly biased jury pool in Manhattan, as he awaited a hearing on his separate bid to lift a gag order.
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April 05, 2024
Parents Seek Justices' Review Of Private School Funding Law
Five Michigan families want the U.S. Supreme Court to hear their challenge to a Michigan constitutional provision that they say prevents them from using tax-advantaged education savings accounts to pay for religious school tuition, alleging the law amounts to religious discrimination.
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April 05, 2024
FCC Says Carrier Must Kill Tax Relief Scam Robocalls
The Federal Communications Commission says it's doing some spring-cleaning and will be clearing out entities supporting clients that make illegal robocalls, starting with a company that has been allowing a client to send out some 15 million calls about a fake tax relief program.
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April 05, 2024
Chrisley Must Pay $755K For Slandering Ga. Tax Worker
Former reality star and convicted fraudster Michael "Todd" Chrisley must pay $755,000 in damages after a federal jury found this week that he slandered a Georgia Department of Revenue employee who played a bit role in his criminal investigation.
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April 05, 2024
Monopolies Will Raise Prices Under Minimum Tax, Expert Says
The 15% global minimum tax will worsen the problems that monopolistic companies impose on economies because raising taxes on a company that lacks competition will lead it to raise prices, an academic expert on tax havens said Friday during a conference.
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April 05, 2024
Homeowners' Energy Efficient Rebates Not Income, IRS Says
The U.S. Department of Energy rebates awarded to taxpayers who bought an energy efficient home or retrofitted their current residence to reduce energy consumption won't need to be reported in the property owner's gross income, the IRS announced Friday.
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April 05, 2024
NC High Court Snapshot: Law Firm Battles Defamation Suit
The Supreme Court of North Carolina has a stacked calendar heading into spring arguments, from an appeal over Black-owned properties targeted for demolition to a law firm's attempt at dodging defamation claims over allegations of voter fraud.
Expert Analysis
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Series
Competing In Triathlons Makes Me A Better Lawyer
While practicing law and competing in long-distance triathlons can make work and life feel unbalanced at times, participating in the sport has revealed important lessons about versatility, self-care and perseverance that apply to the office as much as they do the racecourse, says Laura Heusel at Butler Snow.
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Where Justices Stand On Chevron Doctrine Post-Argument
Following recent oral argument at the U.S. Supreme Court, at least four justices appear to be in favor of overturning the long-standing Chevron deference, and three justices seem ready to uphold it, which means the ultimate decision may rest on Chief Justice John Roberts' vote, say Wayne D'Angelo and Zachary Lee at Kelley Drye.
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Perspectives
6 Practice Pointers For Pro Bono Immigration Practice
An attorney taking on their first pro bono immigration matter may find the law and procedures beguiling, but understanding key deadlines, the significance of individual immigration judges' rules and specialized aspects of the practice can help avoid common missteps, says Steven Malm at Haynes Boone.
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Lessons From Country Singer's Personal Service Saga
Recent reports that country singer Luke Combs won a judgment against a Florida woman who didn’t receive notice of the counterfeit suit against her should serve as a reminder for attorneys on best practices for effectuating service by electronic means, say attorneys at Jenner & Block.
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After Watershed Year, Clean Hydrogen Faces New Challenges
Clean hydrogen is on the verge of taking off — but over the course of 2023, it became clear that the regulatory landscape will be more stringent than expected, and the cost and timing of major projects will depend on a number of key developments anticipated in 2024, say attorneys at Weil.
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Series
Baking Bread Makes Me A Better Lawyer
After many years practicing law, and a few years baking bread, I have learned that there are a few keys to success in both endeavors, including the assembly of a nourishing and resilient culture, and the ability to learn from failure and exercise patience, says Rick Robinson at Reed Smith.
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Federal Courts And AI Standing Orders: Safety Or Overkill?
Several district court judges have issued standing orders regulating the use of artificial intelligence in their courts, but courts should consider following ordinary notice and comment procedures before implementing sweeping mandates that could be unnecessarily burdensome and counterproductive, say attorneys at Curtis.
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7 E-Discovery Predictions For 2024 And Beyond
The legal and technical issues of e-discovery now affect virtually every lawsuit, and in the year to come, practitioners can expect practices and policies to evolve in a number of ways, from the expanded use of relevancy redactions to mandated information security provisions in protective orders, say attorneys at Littler.
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5 Litigation Funding Trends To Note In 2024
Over the next year and beyond, litigation funding will continue to evolve in ways that affect attorneys and the larger litigation landscape, from the growth of a secondary market for funded claims, to rising interest rates restricting the availability of capital, says Jeffery Lula at GLS Capital.
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Tech CEO Tax Ruling A Warning For Forward Contracts
In McKelvey v. Commissioner, the U.S. Tax Court decided that deceased Monster.com founder Andrew McKelvey terminated his underlying obligations when he extended variable prepaid forward contracts, demonstrating why startup founders, early employees and investors should think carefully before amending derivative agreements, say Daren Shaver and Trent Tanzi at Hanson Bridgett.
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4 Legal Ethics Considerations For The New Year
As attorneys and clients reset for a new year, now is a good time to take a step back and review some core ethical issues that attorneys should keep front of mind in 2024, including approaching generative artificial intelligence with caution and care, and avoiding pitfalls in outside counsel guidelines, say attorneys at HWG.
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What The Law Firm Of The Future Will Look Like
As the legal landscape shifts, it’s become increasingly clear that the BigLaw business model must adapt in four key ways to remain viable, from fostering workplace flexibility to embracing technology, say Kevin Henderson and Eric Pacifici at SMB Law Group.
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4 PR Pointers When Your Case Is In The News
Media coverage of new lawsuits exploded last year, demonstrating why defense attorneys should devise a public relations plan that complements their legal strategy, incorporating several objectives to balance ethical obligations and advocacy, say Nathan Burchfiel at Pinkston and Ryan June at Castañeda + Heidelman.
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Unpacking The Proposed Production Tax Credit Regulations
Recently proposed tax regulations for claiming the U.S. clean-energy manufacturers' production credit under Internal Revenue Code Section 45X are less stringent than many had feared but fail to define a fundamental eligibility requirement, say Casey August and Jared Sanders at Morgan Lewis.
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10 Considerations For Litigating A New York Tax Case
While some of New York’s recently adopted corporate tax regulations are likely to face legal challenges, aggrieved taxpayers should answer certain questions before deciding to embark on the tax litigation process, say Cyavash Ahmadi and Jeffrey Friedman at Eversheds Sutherland.