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April 02, 2024
Boston Bomber Case Offers Clues For Trump Jury Selection
A recent ruling that may undo the Boston Marathon bomber's death sentence holds lessons for Donald Trump's upcoming trials, where attorneys will need to make prospective jurors comfortable enough to admit bias before they're picked — and potentially avoid years of appellate fights.
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April 02, 2024
Luxembourg's Deduction Rules Flout EU Law, Bloc Tells Court
The European Commission asked the European Union's Court of Justice to rule that Luxembourg is breaking EU law by including securitized entities among financial undertakings that are allowed deductibility of interest payments, the EU's Official Journal said Tuesday.
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April 02, 2024
DOL Narrows Retirement Asset Manager Exemption
The U.S. Department of Labor unveiled a final regulation Tuesday making it tougher for investment managers with serious misconduct on their records to handle Employee Retirement Income Security Act-covered retirement plans, broadening an ineligibility clause that previously only covered criminal convictions.
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April 01, 2024
Trump Posts $175M Bond, Pausing $465M Fraud Judgment
Donald Trump on Monday posted a $175 million bond, ducking, for now, enforcement of a nearly $465 million civil fraud judgment against him and his businesses in the New York attorney general's case accusing them of defrauding banks and insurers.
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April 01, 2024
Trump's Gag Order Expands Over 'Attacks' On Judge's Family
Donald Trump has a constitutional right to respond to alleged political attacks, but he does not have a right to attack family members of the state judge overseeing his criminal case in New York, the judge ruled late Monday, expanding the former president's gag order in his hush money case.
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April 01, 2024
US Support For Pillar 1 Still In Question After House Inquiry
U.S. lawmakers signaled that they think technical and other issues remain in the OECD's Pillar One taxing rights overhaul during a recent House subcommittee meeting, casting further doubt on the plan's implementation as the timeline to finalize it has slipped.
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April 01, 2024
Adviser Gets 4 Years For Fraud, Filing False Tax Returns
An Indiana investment adviser was sentenced to four years in prison and ordered to pay $6.4 million in restitution for stealing $4.7 million from a client and filing false returns, the U.S. Department of Justice announced.
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April 01, 2024
Feds Back Guilty Verdict After Software Execs' Tax Fraud Trial
Federal prosecutors on Monday defended a jury verdict finding two former software executives in North Carolina guilty of failing to pay employment taxes, saying sufficient evidence supported their convictions.
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April 01, 2024
BakerHostetler Adds Partner To Tax Practice Group
BakerHostetler's Washington office has added a partner from Morris Manning and Martin LLP to join its tax practice group, Baker said in a statement Monday.
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April 01, 2024
Jailed Atty Pleads Not Guilty To Witness Tampering In Tax Case
A Chicago-area lawyer facing more than a dozen criminal tax fraud charges pled not guilty Monday to superseding charges that he tried scripting a bookkeeper's anticipated testimony, but he'll have to wait to learn whether he'll remain jailed until his upcoming retrial.
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April 01, 2024
Ore. Tax Court Upholds Nursing Home's $10.6M Valuation
The owner of an Oregon nursing home did not present enough evidence to change the $10.6 million valuation found by a local assessor, the state tax court said.
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March 29, 2024
Petition Watch: Off-Label Ads, Retiree Discrimination & PPE
A Utah attorney has asked the U.S. Supreme Court to determine whether allegedly retaliatory IRS summonses can be quashed, and two former pharmaceutical executives are challenging the constitutionality of their convictions for marketing the off-label use of a drug. Here, Law360 looks at recently filed petitions that you might've missed.
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March 29, 2024
Manhattan DA Says Trump Violated Hush Money Gag Order
Donald Trump may have already violated a New York state judge's gag order in the former president's hush money case by impugning the judge's daughter on social media, Manhattan prosecutors said, while Trump's attorneys say prosecutors are trying to improperly expand the order.
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March 29, 2024
Mass. Tax Board Won't Lower Value Of Boston House
A Boston home was correctly assessed, the Massachusetts Appellate Tax Board said in a decision published Friday, finding that an analysis of nearby homes failed to show it was overvalued.
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March 29, 2024
Tax Preparer Gets 30 Months For $780K COVID Aid Scheme
A North Carolina tax preparer who fraudulently obtained $780,000 in pandemic relief loans and laundered money was sentenced in federal court to 30 months in prison and three years of supervised release, prosecutors announced.
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March 29, 2024
Flint Residents Can't Show Profit From Hasty Water Rate Hike
Residents challenging the city of Flint's rushed implementation of higher water and sewage rates couldn't show how the city unjustly profited from the change or whether the increased rate was unreasonable, a Michigan appellate panel said in upholding the dismissal of the residents' suit.
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March 29, 2024
Atty Called A Flight Risk In $1.3 Billion Tax Fraud Case
An attorney serving a 23-year prison sentence for tax fraud in a $1.3 billion conservation easement scheme is a flight risk and should remain in federal custody while he waits for his appeal, the government told a Georgia federal court Friday.
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March 29, 2024
Md. House OKs Tax Breaks For Residential Projects
Local governments in Maryland could grant property tax credits for certain hotel and residential developments that include affordable housing under legislation approved Friday by the state House of Delegates.
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March 29, 2024
Weekly Internal Revenue Bulletin
The Internal Revenue Service issued its weekly bulletin Friday, which included proposed regulations for claiming a tax credit for the production of qualified clean hydrogen.
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March 28, 2024
Va. Gov., Critic Of Legal Pot, Vetoes Bill To Begin Sales
Glenn Youngkin, the Republican governor of Virginia, on Thursday vetoed a Legislature-approved bill that would have taxed and regulated the sale of adult-use cannabis, saying marijuana sales would pose a public health and safety risk to Virginians.
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March 28, 2024
Doctor Allowed To Withdraw NBA Fraud Plea, Gets June Trial
A Manhattan federal judge will allow a Seattle-area doctor to pull back his guilty plea and go to trial in June, against prosecutors' objections, in a case alleging he assisted a cohort of retired NBA players to create fake invoices to submit to the league's healthcare plan.
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March 28, 2024
Ore. To Give Tax Break For Wildfire Settlement Payouts
Oregon victims of wildfires who receive funds in civil actions will not owe income tax on those payments under legislation signed into law by the governor.
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March 28, 2024
EU Justice Head To Step Aside To Run For Rights Group Post
The European Union's president granted the bloc's justice commissioner leave to pursue a leadership role with a European human rights organization, the European Commission said.
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March 27, 2024
Hunter Biden Judge Doubts Tax Charges Politically Motivated
A California federal judge Wednesday appeared unpersuaded by Hunter Biden's claim that the special counsel's decision to file criminal tax charges after a plea deal collapsed was motivated by pressure from Republican lawmakers, remarking that "there really is no evidence to support that contention."
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March 27, 2024
DoorDash, Grubhub Want Docs From NY Restaurant Lobbyists
DoorDash, Grubhub and Uber Eats have urged a Manhattan federal judge to let them subpoena the trade group executives who allegedly "worked closely" with officials on challenged New York City caps on fees that food delivery apps can charge restaurants.
Expert Analysis
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Recent Bills Show Congress' Growing Maturity On Cannabis
Though two recently introduced cannabis reform bills, the Prepare Act and the Small Business Tax Equity Act, are unlikely to pass in this Congress, they demonstrate a new level of focus and sophistication on the part of lawmakers as it relates to cannabis at the federal level, says Irina Dashevsky at Greenspoon Marder.
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What To Make Of IRS' New Advance Pricing Guidance
Recent guidance on the IRS' goals for its advance pricing agreement system provides helpful insight into review and decision-making procedures for advance pricing agreement requests, but it also raises questions about the IRS' objectives, say Richard Slowinski and Stefanie Kavanagh at Alston & Bird.
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Reserved Investor Fund Would Plug Gap In UK Finance Market
The reserved investor fund recently proposed by HM Treasury has the potential to be a welcome tax-efficient addition to the U.K.’s canon of products for real estate investments, with attractive features for companies and, in particular, large asset managers, say lawyers at Herbert Smith.
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Rethinking In-Office Attendance For Associate Retention
The hybrid office attendance model doesn't work for all employees, but it does for many — and balancing these two groups is important for associate retention and maintaining a BigLaw firm culture that supports all attorneys, says Summer Eberhard at Major Lindsey.
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Justices' Minn. Takings Ruling May Have Broad Impact
The U.S. Supreme Court's decision in Tyler v. Hennepin County that a Minnesota tax foreclosure violated the U.S. Constitution's takings clause may, beyond resolving a circuit split, influence well-established foreclosure laws across the U.S., say Emily Ladd and Gregory Nowak at Miller Canfield.
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Compliance Obligations Still Murky For Superfund Excise Tax
Comments on the IRS' reinstatement of the Superfund chemicals excise tax show that, given taxpayers' lack of institutional knowledge and the government's previous failure to finalize clarifying guidance, further regulatory action is needed to help taxpayers understand their obligations, say Nicole Elliott and Mary Kate Nicholson at Holland & Knight.
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Murdaugh Trials Offer Law Firms Fraud Prevention Reminders
As the fraud case against Alex Murdaugh continues to play out, the evidence and narrative presented at his murder trial earlier this year may provide lessons for law firms on implementing robust internal controls that can detect and prevent similar kinds of fraud, say Travis Casner and Helga Zauner at Weaver and Tidwell.
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Challenging Standing In Antitrust Class Actions: Rule 23
A recent Sixth Circuit decision in Fox v. Saginaw County that rejected the common attempt to use Rule 23 to sidestep Article III's standing limitations shows antitrust defendants' success in challenging standing will rest on happenstance without more clarity from the Supreme Court — which no litigant should be comfortable with, say Michael Hamburger and Holly Tao at White & Case.
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The Reciprocal Tax Bill Is A Warning Shot At Pillar 2
A bill recently introduced in the House of Representatives to reciprocally tax countries deemed to have imposed discriminatory taxes on U.S. citizens and businesses takes aim at countries implementing the global minimum tax treaty known as Pillar Two, with which the U.S. has not complied, says Alan Cole at the Tax Foundation.
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Firm Tips For Helping New Lawyers Succeed Post-Pandemic
Ten steps can help firms significantly enhance the experience of attorneys who started their careers in the coronavirus pandemic era, including facilitating opportunities for cross-firm connection, which can ultimately help build momentum for business development, says Lana Manganiello at Equinox Strategy Partners.
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Cost To Gov't Means Justices Must Review NC Sales Tax Case
The U.S. Supreme Court should review and overrule the North Carolina high court’s decision in Quad Graphics v. North Carolina Department of Revenue — an anticipatory overruling of precedent that expands the state sales tax base and imposes a stealth tax on the federal government, says Richard Pomp at the University of Connecticut Law School.
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How REITs Can Prep For SEC's Repurchase Disclosure Rules
With real estate investment trusts' share repurchase activity on the rise, REITs should beware the potential enforcement risks that may arise from the U.S. Securities and Exchange Commission's new rules requiring additional disclosures regarding such repurchases, says Zach Swartz at Vinson & Elkins.
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Tackling Judge-Shopping Concerns While Honoring Localism
As the debate continues over judge-shopping and case assignments in federal court, policymakers should look to a hybrid model that preserves the benefits of localism for those cases that warrant it, while preventing the appearance of judge-shopping for cases of a more national or widespread character, says Joshua Sohn at the U.S. Department of Justice.
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Potential Risks And Benefits Of NY Cannabis Crop Rescue Act
Though proposed legislation in New York would help struggling cannabis farmers by allowing them to sell their crops directly to consumers, it poses numerous challenges for retailers and the state’s regulatory framework — and striking the right balance here will be crucial to shaping a sustainable, equitable industry, say Meaghan Feenan and William Wolfe at Harris Beach.
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Perspectives
How Attorneys Can Help Combat Anti-Asian Hate
Amid an exponential increase in violence against Asian American and Pacific Islander communities, unique obstacles stand in the way of accountability and justice — but lawyers can effect powerful change by raising awareness, offering legal representation, advocating for victims’ rights and more, say attorneys at Gibson Dunn.