• August 15, 2017

    New York Narrows State Sales, Use Tax Exemptions

    The New York State Department of Taxation and Finance on Monday outlined recent changes to the state’s tax rules that winnow down taxpayers exempt from sales taxes on transactions between related entities and use taxes for goods and services purchased by nonresident businesses.

  • August 15, 2017

    Wealthy Would Reap Benefits Of Trump Tax Plan: Think Tank

    The lion’s share of the benefits from President Donald Trump’s proposed tax overhaul would be concentrated with the wealthiest Americans, and that’s before considering how to pay for it, according to an analysis out Tuesday from a D.C. think tank.

  • August 15, 2017

    Wis. Can't Tax Microsoft Licenses To Remote Manufacturers

    Microsoft Corp. has won its appeal to a Wisconsin tax tribunal challenging the state’s attempt to tax royalties it earned from software licenses to out-of-state computer manufacturers, defeating nearly $3 million in deficiencies and interest.

  • August 15, 2017

    Golf Club Maker Fights Bid To Enforce $19M Arbitral Award

    A golf club shaft manufacturer urged a California federal judge on Monday to reject a Korean investment fund’s bid to enforce an approximately $18.8 million arbitral award against the company, saying the court should vacate the ruling entirely or wait until the resolution of a related proceeding in South Korea.

  • August 15, 2017

    Accountants Push Changes To IRS Partnership Audit Rules

    A trade group for tax professionals and accountants urged the Internal Revenue Service to make tweaks to its latest partnership rules Tuesday, saying the initial regulations issued earlier this year could make taxpayers uncertain and create extra work for the agency.

  • August 15, 2017

    Starr Can't Claim Tax Break In $38M IRS Dispute, Judge Says

    A U.S.-Switzerland treaty does not entitle Starr International Co. Inc. to preferential tax treatment, whose denial allegedly cost the company $38 million, and the government properly read the Swiss insurer’s move to that country as seeking tax benefits as a “principal purpose,” a D.C. federal judge ruled Monday.

  • August 15, 2017

    Estate Of Du Pont Woman Disputes $8M IRS Bill

    The estate of a Florida woman who belonged to the du Pont family is disputing an $8 million Internal Revenue Service tax bill, arguing to a Tax Court judge that the agency overvalued the family trust and improperly disallowed funeral expenses.

  • August 14, 2017

    Puerto Rico Creditors Assail Board's Discovery Opposition

    Senior bondholders with secured interests in Puerto Rico sales tax revenues said Friday that the commonwealth and a federally appointed board overseeing the territory's landmark bankruptcy proceedings should be compelled to produce discovery after improperly refusing to provide testimony concerning an alleged failure to protect the investors’ secured collateral.

  • August 14, 2017

    Extension Option Can't Trigger Lease Tax, Pa. Court Says

    A Pennsylvania appellate court tossed the commonwealth’s attempt to apply a realty transfer tax to a company holding a long-term lease in the state, ruling Monday that the lease’s extension doesn’t push it beyond a 30-year limit on untaxable leases.

  • August 14, 2017

    Fla. Gov. Seeks Amendment To Make Tax Hikes Harder

    Florida Gov. Rick Scott announced Monday he intends to pursue a “game-changing” amendment to the state constitution to require the Legislature to reach a supermajority when voting to raise any taxes or fees, seeking to secure tax cuts passed during his two terms in office.

  • August 14, 2017

    Baker McKenzie Adds Ex-Greenberg Wealth Management Duo

    Baker McKenzie announced the hiring last week of a duo of “highly regarded trust and estates” attorneys from Greenberg Traurig LLP meant to complement the firm’s growing North America-focused tax practice with expertise in wealth planning and management.

  • August 14, 2017

    IRS Tells 2nd Circ. To Uphold Nix Of Ex-Sprint Execs' Row

    The Internal Revenue Service urged the Second Circuit to toss an appeal from a pair of former Sprint executives Friday, arguing that their claims that the agency and Ernst & Young concealed evidence of an investigation are barred by federal law.

  • August 14, 2017

    Texas AG Asked If Federal Law Nixes Health Insurance Rule

    A Texas lawmaker has asked the state’s attorney general to weigh in on whether state regulations governing certain employer health plans funded by a flexible spending arrangement are preempted by a more recent federal law enacted in 2016.

  • August 14, 2017

    Philly, Business District Say Residents Can't Sue Over Tax

    Philadelphia and its Center City District on Friday asked a state court judge to throw out a putative class action challenging a tax that supports the special services provided by the CCD, as the latter group defended its authority to establish procedures governing the levy.

  • August 14, 2017

    Hill Dems Urge Court To Keep Suit Over Trump Business Ties

    A pair of senior congressional Democrats pushed a New York federal judge to keep a lawsuit over President Donald Trump’s foreign business ties alive Friday, arguing the president can’t dodge the Constitution’s emoluments clause in court.

  • August 14, 2017

    Mass. Pair Arrested Over $50M In Energy Grant Applications

    A Massachusetts couple has been arrested over accusations of submitting more than $50 million worth of fraudulent tax-free energy grant applications, of which they received more than $8 million for nonexistent renewable energy spending.

  • August 14, 2017

    5th Circ. Revives $16M Conservation Easement Deductions

    A Texas development has another shot at claiming $15.9 million in conservation easement charitable deductions after a divided Fifth Circuit panel upended Tax Court findings Friday and ruled that land modification provisions in the donations didn’t interfere with the “perpetual” requirements for land grants.

  • August 11, 2017

    Delayed Tax Reform May Be Slowing Economic Growth

    The slow pace of action on tax reform promised by the White House and the Republican-controlled Congress is creating a volatile and uncertain atmosphere for businesses, which are becoming increasingly cautious about making long-term investments.

  • August 11, 2017

    Taxation With Representation: Simpson, Sidley, Sullivan

    In this week’s Taxation With Representation, Invitation Homes inks a tax-free merger with Starwood Waypoint Homes to form an $11 billion industry heavyweight, Vantiv buys U.K. peer Worldpay for £8 billion, and Envision Healthcare Corp. parts ways with its medical transportation business for $2.4 billion.

  • August 11, 2017

    Oil Rig Co. Can Deduct Subcontractor Payments: Texas Court

    A Texas appellate court largely sided Friday with an oil rig manufacturing and maintenance company and against a state appeal contesting a tax refund ruling for the company, holding that over $79 million in subcontractor payments could properly be excluded from taxable income.

Expert Analysis

  • How The IPad Can Be A Litigator's Best Friend

    Paul Kiesel

    New mobile computing tools — both hardware and applications — are changing the technology paradigm for legal practitioners. In particular, the combination of the 12.9-inch iPad Pro, the Apple Pencil and the LiquidText annotation app can revolutionize both trial preparation and courtroom litigating, says attorney Paul Kiesel, in his latest review of tech trends.

  • Series

    Notes From A Law Firm Chief Privacy Officer: CPO Vs. CISO

    Mark McCreary

    To understand the role of the law firm chief privacy officer — and why that person ought to be a lawyer — it’s important to distinguish the role they fill from that of the chief information security officer, says Mark McCreary, chief privacy officer for Fox Rothschild LLP.

  • 5 Questions To Ask Before Entering Joint-Representation AFA

    Natalie Hanlon Leh

    One growing trend is for clients to enter into alternative fee arrangements in which one law firm represents multiple parties who “share” fees and costs in a related matter. This way parties can more efficiently manage a matter and reduce their individual legal fees. But joint representation is not without its own risks and challenges, say attorneys with WilmerHale.

  • Legal Incubators Can Help New Lawyers And Society

    Martin Pritikin

    Legal incubators serve as an important bridge to practice and a crucial step toward aligning the incentives of new lawyers with the needs of their clients. They may even pose a threat to the traditional law school model itself, and that's not necessarily a bad thing, says Martin Pritikin, dean of Concord Law School at Kaplan University.

  • 4 Key Defenses In FBAR Liability

    Christopher Rajotte

    A U.S. person must file a Foreign Bank Account Report for offshore accounts with values exceeding $10,000 at any point during a given year. The first line of defense against an FBAR penalty is compliance with the filing obligation, but if a case is brought, several defense strategies are especially useful, says Chris Rajotte of Fuerst Ittleman David & Joseph PL.

  • Breaking Down Graham-Cassidy ACA-Replacement Proposal

    Eric Schillinger

    Following the Health Care Freedom Act’s defeat, the only remaining proposal to replace the Affordable Care Act that appears to have any chance of a Senate vote is a complex overhaul from Republican Sens. Lindsey Graham and Bill Cassidy, says Eric Schillinger of Trucker Huss APC.

  • How To Assess Real Estate Taxes In NYC: Part 2

    Excerpt from Lexis Practice Advisor
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    An understanding of the assessment prices, how real estate taxes are calculated and the benefit programs that New York City makes available to property owners will allow counsel to better negotiate on behalf of clients, says Steven Tishco of Marcus & Pollack LLP in the final part of this article.

  • How To Prioritize Your Law Firm's Crisis Response Plan

    Michelle Samuels

    If the media is going to cover your law firm’s crisis, they are going to cover it with or without your firm’s input. But your involvement can help shape the story and improve your firm’s image in the public eye, says Michelle Samuels, vice president of public relations at Jaffe.

  • How To Assess Real Estate Taxes In NYC: Part 1

    Excerpt from Lexis Practice Advisor
    Steven Tishco

    In New York City, real estate taxes are becoming an increasingly greater expense for property owners and landlords. A working knowledge of the transaction process is important for understanding when specialized real estate tax representation might be necessary and appropriate for more complex transactions, says Steven Tischo of Marcus & Pollack LLP.

  • A Foreign Partner Is Not Taxable On A Partnership Sale

    Steven Bortnick.jpg

    The Tax Court's recent ruling in Grecian Magnesite overturned the U.S. Internal Revenue Service's position that gain on the sale of a partnership interest is taxable to foreign limited partners. This result supports the view that, for the most part, taxation in such cases would only be possible with legislative change, says Steven Bortnick of Pepper Hamilton LLP.