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  • August 9, 2018

    Newark Gives Final OK To Tax Breaks To Woo Amazon HQ2

    The Newark City Council on Wednesday continued the city’s push to convince Amazon.com to build its second headquarters in the New Jersey city, clearing a trio of ordinances that would give so-called “transformative corporate headquarters” in the city at least $1 billion in tax exemptions.

  • August 9, 2018

    Dallas Councilman Admits To Taking Kickbacks And Bribes

    A Dallas city councilman on Thursday resigned from his post and pled guilty in Texas federal court to tax evasion and conspiracy to commit honest services wire fraud, admitting to taking numerous bribes and kickbacks in return for supporting a business selling stop-arm cameras for school buses.

  • August 8, 2018

    Manafort Wouldn't Have Noticed Embezzled Cash, Gates Says

    A prosecutor worked Wednesday to shore up cooperator Rick Gates' testimony against former Trump campaign chairman Paul Manafort in the face of attacks on Gates' credibility, in part by asserting to a Virginia federal jury that Manafort wouldn't have noticed that his business partner was skimming from their lobbying firm's revenue.

  • August 8, 2018

    'Bob The Builder' Nails 2 For $1.3M Building Equipment Fraud

    Caught up in a New York state law enforcement operation named after cartoon character "Bob the Builder," two business owners pled guilty Wednesday to pocketing $1.3 million after promising customers they could build glass-installation equipment but never delivering the machines.

  • August 8, 2018

    Tax Prep Co. Hit With Class Suit Over Data Breach

    A Florida customer of cloud-based human resources and tax preparation company ComplyRight Inc. filed a proposed class suit Wednesday in federal court, saying the company failed to adequately maintain its security systems to prevent a breach this year that compromised the information of thousands of customers.

  • August 8, 2018

    Pass-Through Rules May Treat Service Providers Unequally

    The IRS’ proposed regulations for a new 20 percent deduction on pass-through income would make it harder to exploit the tax break, but one narrowly defined restriction on who qualifies could allow some high-income service professionals to benefit unfairly while barring others.

  • August 8, 2018

    Mendocino County Pot Tax Upheld By Calif. Appeals Court

    The California Court of Appeal Wednesday upheld the validity of a voter-approved 2016 ballot measure taxing cannabis in Mendocino County, agreeing with a trial court’s conclusion that the measure did not impose a special tax requiring a supermajority vote.

  • August 8, 2018

    4th Circ. Partly Vacates $2M Win For Liberty Tax Franchisee

    In an unpublished opinion released Wednesday, the Fourth Circuit partially vacated a lower court’s decision to award more than $2 million to a former Liberty Tax franchisee, finding that an agreement upon which the award was based could not be legally enforced.

  • August 8, 2018

    Tax Court Won't Toss Cayman Partnership's $99M IRS Bill

    The U.S. Tax Court on Wednesday declined to throw out a case brought by the Internal Revenue Service against YA Global Investment LP, denying the company's motion to dismiss for lack of jurisdiction over a claim of about $99 million in unpaid taxes for a Cayman Islands partnership.

  • August 8, 2018

    Texas Panel Zaps Power Co.'s Tax Break On Steam Generators

    A Texas appeals panel has ruled that a power company was properly denied a tax exemption for steam generators that it couldn't prove were used for pollution control, saying a determination from the state’s environmental commission was a binding opinion on the equipment's usage.

  • August 8, 2018

    10th Circ. Says IRS Can Tap Into Tax Fraudster's USAA Funds

    The Internal Revenue Service may garnish a fraudster’s USAA bank account right away instead of waiting for alternative payment methods when restitution is “due immediately,” the Tenth Circuit has ruled.

  • August 8, 2018

    Tobacco-Funded Group Sues Over Mont. Tax Ballot Measure

    A tobacco industry-funded political committee has asked the Montana Supreme Court to amend the wording of a ballot initiative that would raise tobacco taxes to pay for a Medicaid expansion and other programs, saying the current language would mislead voters.

  • August 8, 2018

    Proposed Pass-Through Deduction Rules Allow Biz Grouping

    The U.S. Department of the Treasury proposed eagerly awaited regulations Wednesday that would allow businesses to aggregate multiple sources of pass-through income to take advantage of a 20 percent deduction in the new federal tax law.

  • August 7, 2018

    In Manafort Trial: 'The Secret Life Of Rick Gates’

    Paul Manafort's attorney hammered the "secret life" of his client's former business partner Tuesday by bringing up Rick Gates’ marital and financial indiscretions in an attempt to undermine Gates' credibility in front of the Virginia federal jury hearing a bank and tax fraud case against President Donald Trump's former campaign manager.

  • August 7, 2018

    Prosecutor Who Tried Billy Walters Joins Simpson Thacher

    A former federal prosecutor in Manhattan who made insider trading cases against pro gambler Billy Walters and others as part of the office's securities fraud unit is joining Simpson Thacher & Bartlett LLP as a partner next month, the firm said on Tuesday.

  • August 7, 2018

    Fed Oversight Board Wins Power Fight With Puerto Rico Gov.

    A federal judge Tuesday rejected arguments that Puerto Rico’s federal financial oversight board is exceeding its authority and found that it can impose a budget over the objections of the island’s elected officials.

  • August 7, 2018

    NC Panel Will Rule On Ballot Proposal To Lower Tax Rate Cap

    The fate of several questions slated to appear on North Carolina’s November ballot, including one seeking to reduce the state’s income tax rate cap, will reside with a three-judge panel after a state judge allowed a challenge headed by the state’s NAACP chapter to proceed Tuesday.

  • August 7, 2018

    SD Gov. Calls Special Legislative Session On Sales Tax Law

    South Dakota’s governor on Tuesday called a special session to draft legislation in the wake of his state’s victory in the Wayfair case, with the goal of having remote sellers begin collecting and remitting sales tax to the state by Oct. 1.

  • August 7, 2018

    Singapore Issues Country-By-Country Reporting Guidance

    Singapore's Inland Revenue Authority issued 26 pages of guidance Tuesday for its new country-by-country reporting requirements, which will direct companies to submit global blueprints of their operations by Dec. 31 for the 2017 tax year.

  • August 7, 2018

    Calif. Realty Group Prepares Backup Property Tax Measure

    The California Association of Realtors, doubling down on its efforts to address what it calls an unprecedented housing supply crisis, has submitted to the Attorney General’s Office a 2020 property tax initiative similar to a proposition on this year’s November ballot.

Expert Analysis

  • Series

    Clerking For Ginsburg: In Pursuit Of Precision

    Trevor Morrison

    As clerks for Justice Ruth Bader Ginsburg, we learned early on that, when preparing a memorandum or draft opinion, it was essential to present any opposing argument in its strongest possible light. There is a lesson here for today's public debates, says Trevor Morrison, dean of NYU Law School.

  • NY Offshore Wind Plan Spotlights Jones Act Compliance

    Charlie Papavizas

    Last month, New York Gov. Andrew Cuomo announced an ambitious offshore wind power plan. But to succeed, the plan must comply with the many restrictions of the Jones Act, a federal law that reserves U.S. domestic maritime trade to U.S.-built vessels owned and operated by Americans, says Charlie Papavizas of Winston & Strawn LLP.

  • More Transfer Pricing Disputes And Other Altera Aftermath

    Kristin Garry

    The recent Ninth Circuit opinion in Altera Corp. v. Commissioner of Internal Revenue reaffirms the increasing significance of general administrative law principles in tax cases and marks a substantial departure from the arm’s-length standard for U.S. transfer pricing analysis for the past 80 years, say attorneys at Shearman & Sterling LLP.

  • Junior Creditors Could Share In 363 Bankruptcy Sales

    Charles Tabb

    In early July, the Seventh Circuit issued an important opinion in Illinois Department of Revenue v. Hanmi Bank, raising the possibility that out-of-the-money junior creditors might be entitled to share in the proceeds of a free-and-clear bankruptcy sale, even where the senior secured party is underwater, say Charles Tabb and Tamar Dolcourt of Foley & Lardner LLP.

  • Series

    Clerking For Ginsburg: My RBG Guide To Judging

    Goodwin Liu

    I clerked for Justice Ruth Bader Ginsburg before the days of RBG bobbleheads and “You Can’t Spell Truth Without Ruth” T-shirts. I had no idea I would become a judge, and I feel lucky every day that I had the chance to learn from her, says California Supreme Court Justice Goodwin Liu.

  • New State Business Taxes May Yield Federal Savings

    Brett Cotler

    New state unincorporated business tax laws may reduce the U.S. federal income tax liability of owners of certain pass-through businesses by taxing these businesses directly rather than — or in conjunction with — taxing their owners, says Brett Cotler of Seward & Kissel LLP.

  • Opinion

    Nonprofits Should Promote Common Good, Not Candidates​

    Maggie Garrett

    President Donald Trump and others have vowed to repeal the Johnson Amendment, a provision in the tax code that prohibits 501(c)(3) nonprofit organizations from endorsing or opposing political candidates. But these efforts are opposed by the very organizations proponents of repeal claim to want to protect, organizations whose autonomy is safeguarded by the Johnson Amendment’s restrictions, says Maggie Garrett of Americans United for Separation of Church and State.

  • State Tax In The Aviation Industry — Midyear Update

    David Dorner

    In this article, David Dorner and Brent Beissel of Reed Smith LLP focus on some noteworthy sales and use tax law changes, cases, rulings and secondary legal guidance, as well as review a newly filed New Jersey corporate income tax case involving transfer pricing adjustments to the payments under an intercompany aircraft lease.

  • Opinion

    It's Prime Time For A Dose Of Reality On Brett Kavanaugh

    Daniel Karon

    President Donald Trump's announcement of his next U.S. Supreme Court nominee, D.C. Circuit Judge Brett Kavanaugh, had the trappings of reality TV. But left unmentioned were Kavanaugh’s troubling opinions on workplace safety standards, age discrimination and class action plaintiffs, says Daniel Karon of Karon LLC.

  • Series

    Clerking For Ginsburg: 4 Things I Learned

    Judge John Owens

    A lot has changed since I clerked for Justice Ruth Bader Ginsburg 20 years ago. At that time, I had hair and no wife. I also thought I knew everything — but working for the justice made me realize very quickly that I actually knew very little, says Ninth Circuit Judge John Owens.