A juror dismissed from the jury that found former U.S. Rep. Corrine Brown guilty last week of charges she diverted money raised for a sham education charity told fellow jurors that the Holy Spirit had told him Brown was innocent of all charges, according to a transcript unsealed Monday.
Vodafone has formally initiated a second arbitration against India over billions in taxes allegedly owed as a result of the mobile phone operator's $11 billion acquisition in 2007 of an Indian cellphone business, several months after the Indian government failed to appoint a second arbitrator in the proceeding.
California’s chief fiscal officer on Monday issued a policy draft aimed at steering the state’s tax board toward “more ethical decision-making,” a move that follows her call for major reform in the wake of a review that found operational inconsistences and questionable practices by board members.
The California Chamber of Commerce asked the state Supreme Court on Monday to review an appeals court decision upholding the state's greenhouse gas cap-and-trade program, insisting that the auction revenues constitute an unauthorized tax.
The Natural Resources Defense Council and other public interest groups on Monday asked a Washington, D.C., federal judge to strike down President Donald Trump's executive order mandating that executive agencies eliminate two regulations for every new one, saying it’s unconstitutional.
The U.S. Chamber of Commerce on Monday sent the U.S. Department of the Treasury a letter advocating among other things rolling back the previous administration’s edicts on inversions and estate taxes after President Donald Trump ordered Treasury to review tax regulations from Barack Obama’s last year in office.
An Illinois federal judge warned former U.S. Rep. Melvin Reynolds on Tuesday that tweeting about his misdemeanor tax case is not appropriate, but not before Reynolds argued that prosecutors had behaved inappropriately themselves when they revealed the existence of his sex tapes in a court filing.
Three taxpayers seeking to switch over to the IRS’ new “streamlined” compliance program for unreported offshore income argued to a D.C. Circuit panel Tuesday that their lawsuit is not foreclosed by the Anti-Injunction Act's bar on pre-enforcement tax challenges, attacking the government’s key defense in the case.
The owner of a historic building in downtown Grand Rapids, Michigan, is fighting to save a $7 million tax write-off for a conservation easement of the building’s exterior, protesting the IRS’ decision tossing a valuation by an appraiser later accused of helping customers claim hundreds of millions in improper tax deductions through inflated appraisals.
Defunct holding company FBOP Corp. will have to hand over some of a $265 million tax return to eight banks overseen by the Federal Deposit Insurance Corp., though the Illinois federal judge who ordered the forfeiture said he was yet unsure how much it should be.
President Donald Trump’s proposal to slash tax rates for so-called pass-through businesses could result in a revenue loss of $1.95 trillion to federal coffers, with the benefits flowing mainly to the highest income households, according to a nonpartisan think tank’s report released on Monday.
A Minnesota appeals court revived a bank’s malpractice lawsuit against a law firm accused of providing inadequate advice that resulted in approximately $1.65 million in unexpected taxes for an estate, saying Monday that the bank could sue as a personal representative of the estate.
A proposed class of southern Illinois taxpayers suing their county, its treasurer and several of his campaign donors over an alleged scheme to rig delinquent property tax auctions asked a federal court Friday to reject separate judgment bids from six groups of defendants, arguing among other things that the county is not immune.
A video software company should collect and remit New York state and local sales taxes on the products it sells there, the New York State Department of Taxation and Finance said in an advisory opinion published Monday.
A British electronics company lost out on its bid to toss a tax collection decision Friday, as a British tax court held that tax collectors don’t have to eliminate every other explanation before turning to fraud as one in a value-added tax case.
The IRS and Portfolio Recovery Associates Inc. managed to settle and avoid trial at the last minute on Monday with a U.S. Tax Court judge agreeing to strike the consumer debt company’s challenge to hundreds of millions of dollars in taxes and penalties turning on accounting methods for debt collection enterprises.
Prevezon and other companies accused by the Justice Department of laundering proceeds from a $230 million Russian tax fraud scheme tied to a global human rights controversy agreed to pay $6 million on the eve of trial to end the dispute, New York federal prosecutors said late Friday.
A California federal judge on Thursday ruled that Ironshore Specialty Insurance Co. can't rely on an endorsement in Brown & Streza LLP's $4 million professional liability policy to limit to $2 million the law firm's coverage for an underlying suit alleging it gave bad tax advice to a former client, calling the provision "unintelligible."
A California federal judge granted class certification to Silver Wheaton Corp. investors who allege the Canadian silver company concealed a potential $207 million tax liability, according to court minutes filed Thursday, finding that though investors had inaccurately argued an omissions theory, their claims could move ahead based on the company’s misrepresentations.
The federal government beat Pfizer’s $8.3 million lawsuit seeking to recover interest on a $500 million tax refund, rebounding after losing an earlier bid to toss the suit when a New York federal judge ruled Friday the pharmaceutical giant had waited too long to make its claims.
Allowing attorneys to telecommute may seem like a great fix for law firms. But without significant changes to the firm's culture, telecommuting is just a patch applied to the problem of attrition, says Michael Moradzadeh, founding partner of Rimon PC.
General counsel at four law firms share the biggest issues they face in an increasingly complex legal environment.
The current continuing resolution expires at midnight on April 28, leaving Congress very little time to strike a deal to keep the government funded and avert a shutdown. Complicating things are reports that the White House may also be pressuring House leadership to schedule a vote this week on a new version of the health care “repeal and replace” bill, say Richard Hertling and Kaitlyn McClure of Covington & Burling LLP.
A 1979 study of attorney-client interactions revealed startling information: Despite years of education and training to hone their legal expertise, attorneys were not acting as independent counselors but rather allowing their clients to control them. Our experience is that this trend has accelerated, say dispute resolution experts Robert Creo and Selina Shultz.
Theoretically, both better data and its better use should be able to improve results in litigation, and thus help litigation financiers allocate more capital to meritorious matters. However, while big data and artificial intelligence are intriguing additions to the litigation toolkit, they are far from turning litigation finance on its head, says Christopher Bogart, CEO of Burford Capital LLC.
It's no longer enough for law firms simply to provide expert legal advice — we are expected to mirror clients' legal, ethics and social commitments and promises. For law firm GCs, the resulting job demands seem to grow exponentially, says Peter Engstrom, general counsel of Baker McKenzie.
In this recent series on federal tax reform, practitioners explore current proposals and initiatives, and reflect on how past efforts to change the system may provide lessons — and warnings — for today's would-be tax reformers.
Puerto Rico faces difficult choices regarding how to address the substantial cost and massive underfunding of its public pension systems. Title III is likely the best option available to the commonwealth to adjust its public pension obligations as part of the larger effort to address its current fiscal crisis, say attorneys with Cleary Gottlieb Steen & Hamilton LLP.
Increasingly, we see companies in all industries seeking to perform various levels of due diligence on our information security defenses. We received three times as many diligence requests from clients and prospective clients in 2016 as we did in 2015. Some clients even conduct their own penetration tests, says Thomas White, general counsel of WilmerHale.
The British Virgin Islands, like other offshore financial centers, has struggled against public perception that it is a treasure island for corrupt politicians and fraudsters. But global monitors now rank the BVI alongside the U.K. and the U.S. in compliance with international standards, and more constructive changes are on the way, say Rachael McDonald and Sarah Galletly of Mourant Ozannes.