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Tax

  • September 12, 2018

    Texas Justices Told Estate Violated Property Redemption Law

    A Texas property owner told the state Supreme Court on Wednesday that an estate that missed its deadline for completing a property redemption payment, for which it initially underpaid by around $11,000, didn't substantially comply with the state's statute despite what the lower court had found. 

  • September 12, 2018

    GOP Tax Cut Proposals Face Quickly Closing Time Window

    Slashing taxes even further after last year’s $1.5 trillion tax cut could help Republicans garner much-needed votes in the upcoming midterm elections, but the introduction of three tax cut bills on Monday — just three months before the end of Congress’ current session — puts the passage of these proposals in jeopardy.

  • September 12, 2018

    Mass. Amends Manufacturing Co. Classification For Fed. Code

    The Massachusetts Department of Revenue adopted emergency regulations Tuesday that explain the tax treatment of corporations that apply for manufacturing corporation classification to account for changes by the federal tax overhaul last year.

  • September 11, 2018

    How A 'Lost Generation' Of Associates Bounced Back

    Caught in a whirlwind of firm dissolutions and layoffs, thousands of associates were thrust into one of the worst job markets in history a decade ago. While some have rebounded, others are still feeling the lingering effects of the financial crisis on their careers.

  • September 11, 2018

    Norton Rose Fulbright Nabs Steptoe Tax Pro In DC And SF

    Norton Rose Fulbright has fortified its tax practice with the addition of a veteran tax attorney from Steptoe & Johnson LLP, a former Justice Department senior tax litigation counsel who has handled high-stakes disputes and has expertise in the emerging robotics taxation field, the law firm announced.

  • September 11, 2018

    Feds Nab First-Ever FATCA Conviction With Bank Exec's Plea

    The former head business officer and CEO of offshore Loyal Bank Ltd. on Tuesday admitted to setting up multiple opaque bank accounts for a purported stock fraudster in order to evade detection by U.S. authorities in violation of the Foreign Account Tax Compliance Act, the first conviction of its kind.

  • September 11, 2018

    Koch Bros. Group Says 9th Circ. Ruling 'Imperils' Free Speech

    Conservative advocacy group Americans for Prosperity Foundation must turn over its secret donor list to California's attorney general so it can police charitable fraud, a Ninth Circuit panel ruled Tuesday, in a decision that the group says "imperils" its freedom of speech and association.

  • September 11, 2018

    ERISA Industry Group Wants Delay Of ACA 'Cadillac Tax'

    The ERISA Industry Committee, an organization that represents large benefits plan sponsors, has urged lawmakers to pass a bill that will delay until 2023 the so-called "Cadillac tax," which imposes a 40 percent excise tax on high-cost, employer-sponsored health plans.

  • September 11, 2018

    PwC Blasts Job Applicants' New Cert. Bid In Age Bias Suit

    PricewaterhouseCoopers LLP urged a California federal judge on Monday not to conditionally certify a proposed class action alleging it discriminates against older job applicants, arguing the applicants’ basis for notifying potential class members of the suit is no more viable than one the judge rejected this summer.

  • September 11, 2018

    Some In GOP Seek To Change SALT Cap, Lawmaker Says

    Some U.S. House Republican lawmakers whose districts include large percentages of high earners will likely promote changing the state and local tax deduction cap, which would become permanent under the recently unveiled second round of tax overhaul legislation, a GOP lawmaker told Law360 Tuesday.

  • September 11, 2018

    European Parliament Supports Simpler VAT For Small Cos.

    The European Parliament Tuesday approved overwhelmingly a proposal that would simplify the way small companies file value-added tax and also ease the administrative burden on those companies working across borders.

  • September 10, 2018

    IRS Agent Can't Ditch Bathroom Search Row, 9th Circ. Says

    An IRS agent violated a suspect’s wife’s Fourth Amendment rights by following her into the bathroom and watching her urinate during an authorized search of her home, a Ninth Circuit panel found Monday, saying the intrusion was too severe and unreasonable to be protected by qualified immunity.

  • September 10, 2018

    McDermott Welcomes Aboard Tax Trio in San Francisco

    McDermott Will & Emery LLP has announced the former head of Winston & Strawn LLP’s nationwide state and local tax practice group has joined the firm as a partner to build out the firm's tax group in California.

  • September 10, 2018

    Can BigLaw Avoid Another Associate Purge?

    The legal industry has shown some caution in rebuilding its pool of associates after the dramatic layoffs of thousands during the last recession. But have firms done enough to survive the next?

  • September 10, 2018

    Calif. Court OKs Lien On Assets In Gulfstream Founder's Trust

    The federal government can extend its lien against the property of the estate of Allen Paulson, the deceased founder of Gulfstream Aerospace Corp. and a race horse owner, to assets of a living trust, a California federal court has ruled.

  • September 10, 2018

    Okla. Urges Justices To Rebuff Tribe's Tax Arbitration Case

    The state of Oklahoma on Monday asked the U.S. Supreme Court to reject a petition by the Citizen Potawatomi Nation seeking to restore its $27 million arbitration victory for an exemption from state alcohol sales taxes, saying there is no circuit split at stake and that only a limited group of tribes would be affected by the ruling.

  • September 10, 2018

    Let Multinationals Decide Their Own Debt, Equity, OECD Told

    Transfer pricing guidance from the Organization for Economic Cooperation and Development on financial transactions should not give countries’ tax collectors room to recharacterize intercompany instruments as debt or equity, according to recent feedback from stakeholders.

  • September 10, 2018

    Baker Donelson Boosts Tax Practice With Ex-Copeland Attys

    Baker Donelson Bearman Caldwell & Berkowitz PC said it had expanded its Jackson, Mississippi, tax practice with the addition of five ex-Copeland Cook Taylor & Bush PA attorneys, including two partners, in a move that makes the firm one of the biggest tax practices in the state.

  • September 10, 2018

    House GOP Unveils Bills To Make Tax Cuts Permanent

    House Ways and Means Committee Chairman Kevin Brady, R-Texas, released a package of bills Monday that would make permanent many of the tax breaks for individuals enacted in last year's federal tax overhaul, including the 20 percent deduction on pass-through income.

  • September 10, 2018

    Texas Justices Urged To Settle Occidental's Border Tax Row

    All but one of the parties in a Texas county border dispute that has left Occidental Chemical with millions in ad valorem tax overpayments urged the Texas Supreme Court on Monday to end the decadelong row by ruling that no factual questions remain.

Expert Analysis

  • New Pass-Through Deduction Will Pass Over Many Lawyers

    Evan Morgan

    A few weeks ago, the IRS proposed regulations related to the Tax Cuts and Jobs Act's 20 percent deduction on qualified business income for pass-through entities. The guidance offers long-awaited clarity, but is mostly bad news for many law firms, says Evan Morgan of Kaufman Rossin PA.

  • How Reckless Judicial Impeachments Threaten Rule Of Law

    Jan van Zyl Smit

    Judicial impeachment fever seems to be spreading through the states, with West Virginia legislators recently voting to remove their state's entire Supreme Court, and lawmakers in Pennsylvania and North Carolina threatening the same. These actions are a serious threat to judicial independence, says Jan van Zyl Smit of the Bingham Centre for the Rule of Law.

  • Series

    Judging A Book: Fogel Reviews 'Good Judgment'

    Judge Jeremy Fogel

    In this time of partisan conflict over judicial selection, a new book by Canadian jurist Robert J. Sharpe —​ "Good Judgment" — represents a refreshing, deeply thoughtful departure from binary arguments about how and why judges make decisions, says U.S. District Judge Jeremy Fogel, director of the Federal Judicial Center.

  • Florida, We Have A Tax Problem: Inside The TCJA Review

    Mark Holcomb

    The Florida Department of Revenue has been reviewing the impact of the Tax Cuts and Jobs Act on Florida's corporate income taxpayers. Attorneys at Dean Mead Egerton Bloodworth Capouano & Bozarth PA delve into the most pressing issues discussed at last week's public meeting on the nexus of federal and state tax reform.

  • 10 Ways To Prevent E-Discovery Woes

    Debbie Reynolds

    E-discovery is not easy, but employing these 10 strategies may help minimize future headaches, say Debbie Reynolds and Daryl Gardner of EimerStahl Discovery Solutions LLC.

  • Illinois Tax Talk: The Roots Of The State Revenue System

    Christopher Lutz

    In this edition of Illinois Tax Talk, Christopher Lutz of Horwood Marcus & Berk Chtd. discusses the state constitutional framework for Illinois' taxing system, including the taxing power of home rule units and the exclusive power of Illinois' General Assembly to raise revenue.

  • IRS Ruling Illustrates There's An Art To Gifting Art

    Von Sanborn

    A recently issued IRS private letter ruling underscored an inconsistency under which certain gifts of art may be complete for U.S. gift tax purposes but not for U.S. income tax purposes — and vice versa. A deed of gift should therefore reflect the delicate balance between tax planning considerations and the personal preferences and specific charitable motivations of the donor, say attorneys with Day Pitney LLP.

  • Treasury Limits State Plans To Fight SALT Deduction Cap

    Radha Mohan

    Newly proposed regulations from the U.S. Department of the Treasury and the IRS provide clarification on the relationship between the federal charitable contribution deduction, the availability of corresponding state or local tax credits and deductions, and the recently enacted SALT cap, say Radha Mohan and Harold Hancock of Brownstein Hyatt Farber Schreck LLP.

  • 4 Key Components To New Firm Partnership Agreements

    Russell Shinsky

    A well-drafted partnership agreement protects a law firm's founders, establishes a process for new and outgoing partners, and sets forth guidelines for navigating conflict along the way. Startup firms can begin with something less complex, but there are important elements that every agreement should include, says Russell Shinsky of Anchin Block & Anchin LLP.

  • Opinion

    Open The Federal Courthouses

    David Oscar Markus

    Forget about cameras, reporters in the Manafort trial were not even permitted in the courtroom with their phones, tablets or computers. That meant no live reporting on Twitter and no emails to the newsrooms with updates. In a world focused on information and news as it happens, this is unacceptable, says trial attorney David Oscar Markus.