Tax

  • September 14, 2017

    EU High Court Says UK Trust Fund Exit Tax Violates Freedoms

    The European Union’s highest court said on Thursday that the so-called exit taxes imposed by the U.K. on trustees that move from Britain to another EU member state infringe on the fundamental freedoms set out in the bloc's laws, such as the free movement of capital.

  • September 14, 2017

    House Vote Puts CFPB, SEC's Reach In Danger

    A financial services spending bill passed by the House of Representatives on Thursday would curtail the Consumer Financial Protection Bureau and cut back the Securities and Exchange Commission’s reach under the Dodd-Frank Act.

  • September 14, 2017

    Tax On Out-Of-State Retailers Nixed By SD Justices

    South Dakota’s highest court has refused to rule in favor of the state’s trailblazing law forcing sales tax obligations on out-of-state retailers in violation of a U.S. Supreme Court ruling, and dealt a further blow to the state in declining to urge the country’s top court to review its controlling precedent.

  • September 14, 2017

    DOJ Queries Swiss Life Over Cross-Border US Client Business

    Swiss Life Group said Thursday it has been contacted by the Department of Justice about its cross-border business with U.S. clients, adding in the statement that it is compliant with U.S. laws against assisting tax avoidance.

  • September 13, 2017

    Texas Justices Weigh Effect Of State's Tax Formulas

    Texas Supreme Court justices on Wednesday wrestled with whether the state’s franchise margin tax is mandatory or whether a multistate income tax agreement gives national businesses a path to lower tax bills if they opt to use a decades-old three-factor apportionment formula.

  • September 13, 2017

    NJ Law Firm Can't Stop IRS While It Fights Tax Debt

    A New Jersey federal judge on Wednesday denied a bid from Schwartz Simon Edelstein & Celso LLC to halt IRS efforts to recoup a disputed tax debt, finding the firm has not met a narrow exception to a federal law that bars attempts to stop tax collection activities.

  • September 13, 2017

    Ireland's Corporate Tax Rate Sustainable Till 2020: Report

    Ireland can expect to see an increase in corporate tax receipts through 2020, according to a government report issued on Tuesday, which also found that the country has reached international standards for tax transparency.

  • September 13, 2017

    Eaton Denies Intent To Spin Off Unit In $3B Investor Suit

    Eaton Corp. PLC asked a New York federal judge Wednesday to throw out a proposed class action alleging the company cost shareholders $3 billion when it couldn’t spin off its automotive division tax-free, saying the conglomerate had repeatedly and emphatically asserted it had no intention of doing so.

  • September 13, 2017

    Tax Reform Framework Expected In Approximately Two Weeks

    Rep. Kevin Brady, the chair of the House tax-writing committee, confirmed on Wednesday that a framework for tax reform will be released during the week of Sept. 25, while House Speaker Paul Ryan refused to say if such a plan would add to the deficit.

  • September 13, 2017

    Ex-Chuhak Atty Gets 18 Months For Defrauding NFL Players

    A former Chuhak & Tecson PC partner who admitted to selling several professional athletes and other investors millions in alternative energy tax credits he knew were illegal was sentenced to 18 months in prison Wednesday.

  • September 13, 2017

    Senate GOP Starts Latest Health Care Reform Push

    A group of Senate Republicans unveiled their latest effort to jump-start repeal and replacement of the Affordable Care Act on Wednesday, introducing a plan to restructure health care subsidies around state-level block grants.

  • September 13, 2017

    OECD Reports Corporate Tax Cuts, Efforts Against Avoidance

    A dozen countries have taken steps to lower their corporate tax rates during 2016, according to a report released Wednesday by the Organization for Economic Cooperation and Development, which noted governments are also cooperating to enact measures against international tax avoidance.

  • September 13, 2017

    EU To Prioritize Tax Haven Reforms In 2018

    European Union legislators will move swiftly in the next 15 months to adopt key proposals on salvaging bankrupt companies and establishing a blacklist of uncooperative tax havens, the European Commission announced on Wednesday.

  • September 12, 2017

    50 Cent Sues Ex-Managers For Tax Liability, ‘Self-Dealing’

    Curtis “50 Cent” Jackson sued GSO Business Management LLC and one of its ex-partners on Tuesday, saying his former business managers ignored a way to reduce his tax liability during his bankruptcy and also “helped themselves” to $90,000 in fees without permission.

  • September 12, 2017

    Nixing Pass-Through Rate For Service Cos. Can’t Stop Abuse

    Treasury Secretary Steven Mnuchin’s proposed solution of excluding service companies from qualifying for a lower tax rate for so-called pass-through businesses may not be enough to eliminate the potential for abuse that accompanies the Trump administration’s corporate tax plan.

  • September 12, 2017

    Senators Inch Toward ACA Deal As New Repeal Bid Looms

    Republican and Democratic senators on Tuesday sought common ground on an Affordable Care Act stabilization deal, but their efforts were clouded by stubborn areas of disagreement and the emergence of a last-ditch GOP repeal effort.

  • September 12, 2017

    EisnerAmper Wants To Keep $100M Fraud Claims Nixed

    Accounting firm EisnerAmper LLP urged the Fifth Circuit on Monday not to revive a lawsuit from Louisiana pension funds accusing it of complicity in a fraud perpetrated by Fletcher Asset Management that cost the funds $100 million, arguing the funds missed their only window to establish a viable claim.

  • September 12, 2017

    Austria Wins EU Double Taxation Fight Against Germany

    A European Union court ruled Tuesday that only Austria should be allowed to tax the income from certificates that one of its banks received from a German bank, rejecting Germany’s contention that it could tax the income under an agreement between the two countries.

  • September 12, 2017

    Pa. Court Deals Blow To Operating Loss Tax Deduction Limit

    A Pennsylvania appeals court on Tuesday refused to overturn its finding that a $2 million limit on tax deductions sought by an erstwhile Philadelphia apartment complex owner for past operating losses violated a provision of the state’s constitution requiring uniform taxation.

  • September 12, 2017

    IRS Mishandled 1 In 7 FOIA Requests In 2016, Audit Shows

    Disclosure specialists at the Internal Revenue Service improperly withheld information for one in seven Freedom of Information Act requests in fiscal year 2016, an audit by the Treasury Inspector General for Tax Administration found.

Expert Analysis

  • The Whys And Hows Of Motor Vehicle Titling Trusts: Part 1

    Alan Mogol

    When motor vehicles are acquired and titled in the name of an equipment finance company, a subsequent syndication of lease financing including a transfer of legal title to a motor vehicle can involve significant burden and expense. A titling trust program to facilitate syndication of such leases can have many advantages, says Alan Mogol of Baker Donelson Bearman Caldwell & Berkowitz PC.

  • A Law Firm Guide To Helping Victims Of Human Trafficking

    Sarah Dohoney Byrne

    Unlike victims of many crimes, human trafficking survivors often have complicated legal problems related to the experience of being trafficked — everything from criminal records to custody disputes to immigration obstacles. Many law firms already provide assistance in these areas and can easily transition resources and expertise, says Sarah Dohoney Byrne of Moore & Van Allen PLLC.

  • Bankruptcy Sale Does Not Obviate Chapter 91 Compliance

    Christopher Stracco

    In 975 Holdings LLC v. City of Egg Harbor, the New Jersey Tax Court recently extended the state's Chapter 91 dismissal provisions to properties purchased through a bankruptcy asset sale. A taxpayer should always respond to a Chapter 91 request to protect the rights of subsequent purchasers, say Christopher Stracco and Katharine Coffey of Day Pitney LLP.

  • Renewable Energy In The Age Of Trump

    Andrew Bell

    The same rhetoric from the Trump administration that mobilized coal country voters has worried renewable energy advocates. However, there are four areas where the current administration's policies could have a lasting effect on renewable energy development, say Andrew Bell and Reed McCalib of Marten Law PLLC.

  • Diversity In The Legal Profession — A Stubborn Vision

    Robert Grey

    At the Leadership Council on Legal Diversity, we want to see, as founding member and Microsoft chief legal officer Brad Smith once stated, “a legal profession as diverse as the nation we serve.” We are not there yet — far from it — but we are beginning to put some numbers on the board, says Robert Grey, president of the Leadership Council on Legal Diversity.

  • Opinion

    New Salary History Laws Crimp Attorney Hiring Process

    Fredric Newman

    In prohibiting employers from asking potential hires about their previous salaries, lawmakers seek to "level the playing field." But there are real problems with the practicality, legality and enforceability of many of the salary history laws, says Fredric Newman, a founding partner of Hoguet Newman Regal & Kenney LLP.

  • State And Local Tax Scoreboard: 2017 Midyear Review

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    In this midyear state and local tax review, Charles Capouet and Hanish Patel of Eversheds Sutherland LLP discuss 2017 SALT litigation to date, including corporate income tax and sales and use tax case results, the most significant cases of Q2 2017, and the Maine Supreme Judicial Court’s holding in State Tax Assessor v. MCI Communications Services Inc.

  • Challenging An Escheat Audit? Be Sure The Claim Is Ripe

    Anthony Cavender

    Many companies have questioned the constitutionality of Delaware’s escheat regime. But recently the Third Circuit largely affirmed the dismissal of a pipeline firm's complaint that a proposed escheat audit was unconstitutional. When such an audit is challenged before it takes place, precedent suggests that the claim is unripe, say Anthony Cavender and Amy Pierce of Pillsbury Winthrop Shaw Pittman LLP.

  • Legal Considerations After SEC's Warning Shot At ICOs

    Robert Crea

    In the midst of market excitement surrounding initial coin offerings, the U.S. Securities and Exchange Commission recently issued an investigative report warning that digital tokens may be securities. When a token is a security, a variety of legal considerations come into play, including the Investment Advisers Act, anti-money laundering and taxation, say attorneys with K&L Gates LLP.

  • 5 Tips For A Successful Legal Blog

    David Coale

    David Coale, leader of the appellate practice at Lynn Pinker Cox & Hurst LLP, shares his insights into what works — and what does not — when setting up and maintaining a legal blog.